Where does Dogecoin come from?
Dogecoin features the image of a Shiba Inu dog named Kabosu giving a curious sidelong glance. This picture is often referred to as the doge meme, popular online in the early 2010s. The meme displays a picture of Kabosu’s famed expression along with short, ungrammatical captions in Comic Sans.
Dogecoin is a digital currency like bitcoin and other cryptocurrencies called altcoins (hence the -coin in dogecoin), and is open-source, peer-to-peer, and decentralized. Dogecoin is accepted at some online retailers and can be sent to people anonymously through social media.
Dogecoin first emerged in 2013 as a satirical tweet by Jackson Palmer, an Adobe Systems marketer, during the height of the doge meme’s popularity. After being encouraged by friends to make the Dogecoin joke a reality, he teamed up with programmer Billy Markus, who wanted to create a form of currency more accessible and marketable than bitcoin.
The new cryptocurrency exploded in popularity, gaining a large online following, at one time becoming the fifth largest cryptocurrency by 2014, in use. Just a few short months after its inception, “Dogecon,” a convention for Dogecoin enthusiasts, was held in San Francisco. The Dogecoin community has used the currency to raise charity donations of up to $30,000 for causes such as sending service dogs to families with children.
Though Dogecoin has since gone down in value considerably, it has enjoyed a popularity rarely earned by cryptocurrencies.
Who uses Dogecoin?
As with the doge meme that inspired the currency, the pronunciation of Dogecoin is up for debate, with most to using the “dohj,” “dawj,” or “dogue” pronunciations. According to Dogecoin cofounder Jackson Palmer, the correct pronunciation is “dohj-coin,” based on how it was pronounced in the Homestar Runner skit that apparently inspired the doge meme’s name.
The plural of Dogecoin can be either Dogecoin or Dogecoins. Additionally, Dogecoin can be spelled with an initial lowercase d.
The correct symbol for Dogecoin currency is either Ð or D. For example, “Tammy has Ð300.” Its abbreviation for conversions is XDG, so it could be said that “2,100 in XDG is equivalent to ___ in USD,” with the blank number depending on current conversion rates. While some cryptocurrencies such as bitcoin enjoy a high conversion rate to popular mainstream currencies, Dogecoin is so far worth much less in its exchange rate.
“can you draw lulu with a tiny slotted on the 3rd belt on the left thanks your payment is 2 dogecoin”
@mopthelop Twitter (May 7, 2017)
“Ten doge coins to the person who correctly guesses what this photo depicts.”
wordsareweapons1 Instagram (January 21, 2017)
“Dogecoin has been around for less than a month. In that time, the value of all dogecoins in existence has skyrockted [sic] from zero to more than $8 million.”
Timothy B. Lee, “Dogecoins and Litecoins and Peercoins oh my: What you need to know about Bitcoin alternatives,” The Washington Post (December 26, 2013)