Dogecoin is a cryptocurrency created on of a meme. Although it was created for a joke, in the last days Dogecoin's capitalization broke first a billion, then $ 2 billion. According to the creator of Dogecoin Jackson Palmer, this situation shows "the state of the cryptocurrency market".
For the first time, Dogecoin's capitalization amounted to one billion dollars on Christmas Eve, and a dozen or so days later, DOGE (the abbreviation of this cryptocurrency) topped the value of USD 2 billion. It cost 0.018 dollars at the time - after an increase of 800 percent. since the beginning of December, when Dogecoin paid 0.002 dollars.
Dogecoin course from its inception in 2014 to January 8, 2018
The increases made DOGE one of the 30 largest crypto markets on the market. Both serious media, such as the Financial Times, as well as those investing in Dogecoin, consider this situation as one big joke, but let us remember that the figures are completely "serious".
Jackson Palmer, who created DOGE as a joke, recognized the height of his "child" as an indicator of bubble inflation in the cryptocurrency market:
"I think that a lot about the condition of the cryptocurrency market says that the currency with a dog that has not released a software update for 2 years has a capitalization of over one billion dollars."
It is worth adding that Dogecoin was created not only for a joke, but also by accident. Palmer, who was the product manager at Adobe at the time, along with software engineer IBM Billy Marks, created DOGE "without much thought" as described by the Motherboard website.
- One evening after work I sat down with a beer in my hand, I had too much time, and I bought Dogecoin.com - said Palmer. Marcus helped him to make it a working cryptocurrency.
Currently Dogecoin is dropping again, over the weekend by over 14 percent. (condition at 15.50) and costs 0.015065 dollar. Market capitalization of DOGE is in turn 1.6 billion dollars, while there are more than 112 million Dogecoins in circulation.