The Story of Dogecoin

{Thread }

On Feb 23rd, 2010, Japanese kindergarten teacher Atsuko Sato shared photos of her dog 'Kabosu' on her blog.

On Oct 28th, 2010, A photo of Kabosu was shared on Reddit with the title

"LMBO LOOK @ THIS FUKKIN DOGE" (Nobody knows if it was a typo or intentional)

Sometime in 2012, the word 'Doge' reappeared in multiple platforms

Then it went viral
Polite Doge, Subreddit - Doge & Daily Doge

People started sharing what their dogs are thinking in a single picture

It got so viral that on Nov 20, 2013,

If you searched “Doge Meme” on Youtube
the text on the page becomes coloured Comic Sans font

Jackson Palmer, a product manager at Adobe Inc., created Dogecoin in 2013

A mash-up of Bitcoin and Doge meme
His tweets about the currency got positive feedback,

He bought the domain dogecoin(.)com (4th Dec, 2013)

On the other hand, Billy Markus, A software developer at IBM wanted to create a coin but couldn't

He discovered the Dogecoin buzz and reached out to Palmer to get permission to build the software behind an actual Dogecoin

6th Dec 2013, launched Dogecoin

Including the site & social media accounts.

Archive (Dec 7th):- http://bit.ly/7thDec2013 

Two weeks later on Dec 19, the value of Dogecoin jumped 300%

Three days later Dec 22nd, the first major crash. Dropping by 80%

On Dec 25th, First major theft.
Millions of coins were stolen during a hack on platform Dogewallet.

Everything in a single week. What happened next is exciting

The incidents spiked tweets about Dogecoin (No PR is bad PR)

The Dogecoin community started an initiative named "SaveDogemas" to help donate coins

One month later, enough money was donated to cover the hack

In Jan 2014, the community donated

- $30,000 to fund the Jamaican bobsled team's trip to the Sochi Winter Olympic games

- $11,000 worth of Dogecoin to build a well in Kenya

- $55,000 of Dogecoin to sponsor NASCAR driver Josh Wise

Around the same time (Jan 2014),
The trading volume crossed Bitcoin and all other cryptocurrencies combined

thought the Market Cap was much smaller than Bitcoin.

Doge Fact:-

By its first birthday, Dogecoin has a market cap of $20 Million and a Loyal Fanbase.

April 2015, Jackson Palmer announced

"Extended leave of absence" from the cryptocurrency community

During the Cryptocurrency bubble (2017 & early 2018)

it peaked at $0.018/coin putting its market cap at 2 Billion dollars

Summer of 2019, Saw another bump.

- Binance listed the coin
- Elon Musk reply.

July 2020, Dogecoin spiked again

A Tiktok trend aiming to get the coin's price to $1

In Jan 2021, Dogecoin went up over 800% in 24 hours
Reddit users, Elon Musk and the GameStop Short Squeeze

Few more Elon's tweets
(Every time he tweeted… there was a spike haha)

Even though this was a fun thread... this is not investment advice.

If you enjoyed reading this... please go back up & RT the thread

Follow me @pradologue for more threads https://twitter.com/pradologue/status/1341613581712777216?s=20

Also, I created a StoryCard on this topic

Visit: http://TheStoryCards.com  to get it on your WhatsApp.

Or DM me (To get few FREE StoryCards)