History of Dogecoin, it ain't much.

It was another crazy week in the markets for traditional investors.

If you are heavy into growth stocks stay strong my friend.

I did finally add to a stock position! Though it meant I had to kiss my 115% gain goodbye, I bought more Disney.

On top of that I also added QQQJ in the Roth IRA.

In other news, a major US pipeline was hacked, Tom Brady now has laser eyes on Twitter, and Dogecoiner’s have been running wild.

With all this talk about Doge I thought it would be interesting to provide a quick history lesson on the coin and exactly how it got started.

Don’t worry, this might be the shortest history chapter you have ever read.

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Elon Musk on Doge while hosting Saturday Night Live last weekend.

“Yeah, it's a hustle.” 

Jackson Palmer, a software engineer for Adobe is credited with the official creation of Dogecoin on December 6th, 2013.

Palmer was seeking to create a digital currency different from Bitcoin in that it would be appealing to a larger demographic.

With his vision in mind Palmer bought the domain dogecoin.com. Following this he launched the site which received over one million visitors in the first 30 days thanks to Reddit which has still been causing a stir here in 2021.

This is what it looked like.

Only a few days after launching the site is when Billy Markus came across it. Markus had been in the process of creating his own coin. With the failure of his project, Markus reached out to Palmer and offered to actually build Dogecoin.

Once the partnership was official Markus went to work creating the code for Doge. He based it off another well known crypto, Litecoin.

Not long after in 2014 Dogecoin briefly had a greater trading volume than Bitcoin. Following this, in 2017 the coin crossed $2 billion in market cap value.

Fast Forward

Here in the last few months Dogecoin has seen it’s popularity sky rocket.

This is thanks to a number of factors including Papa Elon Musk, Reddit, and the “TO THE MOON” tiktok trend.

Going back to January 1st of this year, just five months ago, Doge was priced at $0.00475 per coin.

At it’s all time high on May 8th the meme coin hit $0.7185.

That is a 15,026% increase in 5 months.

Conclusion

Seeing the actual value case for Dogecoin is difficult, but who cares about logic when you have memes.

I’ll be keeping my eye on it as the day to day action is crazy to watch.

Other than that I will not be putting any significant amount into this meme.

To those bag holding, good luck.

To those Dogecoin millionaires, congratulations.

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Musk did Bitcoin dirty.

Thanks for reading, if you have any questions, comments, suggestions, etc. about the email send me a DM on twitter. See you next week!