We'll touch on some other Memecoins that appeared throughout the pandemic.īefore we get to that, let's continue the history lesson after Tesla's CEO, Elon Musk started touting the coin and inadvertently started the meme coin outpouring in 2020 and beyond. A few years later, during the Coronavirus pandemic of 2020-21, the term meme coin was coined. That was an impressive feat for a crypto parody. Dogecoin price hit $0.017! This was at the peak of the first cryptocurrency bubble that preceded the first major crypto crash in 2018. Only a few weeks later in January 2014, its trading volume surpassed Bitcoin and all the other altcoins combined! Dogecoin had really proved that its underdog status was really a surprising force to reckon with.įor 4 years, Dogecoin had relatively low price action, until the start of 2018. All this attention, despite being negative, positioned Dogecoin to soar. That created a ton of attention for Dogecoin, to the point it trended more than Bitcoin. Unfortunately, the Dogecoin wallet, Dogewallet, was hacked on Christmas of 2013. Historical Dogecoin Price ActionĪs mentioned above, Dogecoin's first big price action was only two weeks after it went live. It increased from US$0.00026 to $0.00095! Let's look back at some price actions Dogecoin has had over the years. Two weeks after its launch in December 2013, Dogecoin's value skyrocketed by 300% within 72 hours only. What started as a joke actually has better technology than Bitcoin. It's also way faster and cheaper to use than Bitcoin. They had created it as a parody of Bitcoin. When creators Billy Markus of IBM and Jackson Palmer of Adobe created Dogecoin in 2013, they probably never thought it was going to become a sensation. This is how a crypto wallet works.īefore we jump into the world of Dogecoin wallets, let us first figure out what the Dogecoin network is. So, in a nutshell, a Dogecoin wallet is a device or an app that allows you to send and receive DOGE, store it, and manage the coins, by giving you access to private keys and public keys. Your wallet address is used when you need to receive Shiba Inu. In other words, your Dogecoin public key is your Dogecoin address. Private keys are required to sign transactions (send crypto assets from one wallet to another), while public keys represent your wallet on the blockchain. Dogecoin (DOGE) wallet is an app or a device, which purpose is to safely store users' Dogecoin private and public keys.
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