Dogecoin’s price has rebounded over $0.26 following a substantial increase in the news that the prominent online trading site eToro will sell the cryptocurrency to its members.
Billy Markus and Jackson Palmer, two software programmers, co-founded Dogecoin in 2013.
Markus was working for IBM out of Portland, Oregon, while Palmer was a member of the Adobe Systems Marketing Department in Sydney.
Markus then contacted Jackson Palmer and joked, “Investing in Dogecoin, quite confident it’s the next big thing.”
Ten days later, the two were in contact about working on it together.
The “joke currency’s” renown increased after its inception, with dogecoin.com receiving over a million visitors in the first 30 days.
Dogecoin (DOGE) is a cryptocurrency alternative that gained popularity quickly in 2021. Its name is derived from a famous internet meme depicting a Shiba Inu dog. Dogecoin was founded in 2013 by Jackson Palmer and Billy Markus to satirize the proliferation of cryptocurrencies. During the coronavirus epidemic of 2020-2021, the currency acquired fame and value due to social media references from several high-profile persons, including Tesla creator Elon Musk.
Altcoins are cryptocurrencies that are not Bitcoin. The protocols of Dogecoin are based on those of Luckycoin, which forked from Litecoin and used a rudimentary Scrypt algorithm. There is no hard limit on the amount of Dogecoins that may be created. Therefore coin counts can grow forever. It features 1-minute block intervals, which is quicker than many other blockchains.
Diversify your portfolio with cryptocurrencies and monitor Dogecoin price movements on eToro.