Token: DOGE
Market cap: $26,634,220,397
Current price: $0.21 (July 12th)
History: DOGE was initially started as something of a joke by Jackson Palmer, a product manager at the Sydney, Australia office of Adobe Inc. In 2013, he was contacted by Billy Markus, a software developer at IBM, who wanted to create a digital currency. On launch, they revealed the now famous Shibu Inu (Japanese dog) as its logo.
Although Dogecoin is a much cheaper coin than other mainstream currencies, it has been backed by influential people such as Tesla CEO Elon Musk, entrepreneur Marc Cuban and rapper SnoopDog (or SnoopDoge, as he sometimes calls himself).
Utility: Dogecoin code is based on Luckycoin, which is itself derived from Litecoin. It uses Litecoin’s scrypt technology and is a proof-of-work coin. Unlike other coins, such as Bitcoin and Ethereum, Dogecoin doesn’t have a limited supply, which means that new coins are constantly being added to the market.
We have seen companies such as the Dallas Mavericks say they will accept DOGE as a method of payment to its games. The one advantage that DOGE has over other currencies is the backing of a powerful community which has helped bring value and awareness to the brand.
Simon Hudson, founder and CEO of Cheeze, Inc
Where to buy: Binance, Coinbase, EToro, Kraken
Simon says: I have been bullish on DOGE for a long time and was lucky enough to get involved back in 2015. Meme coins rely on a solid brand and community, and Elon Musk has helped increase its awareness. Although it is seen more as a playful cryptocurrency, I believe that as we start to see places accept coins as payment, DOGE will be one of them that is accepted.
My view is everyone will eventually have some DOGE in their crypto wallets in the future.
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