Dogecoin was invented in 2013 as a joke between two engineers. IBM software engineer Billy Markus and adobe software engineer Jackson Palmer.
The two engineers never even met when they successfully combined two of 2013's most popular trends
A cryptocurrency named Bitcoin, and a meme following "Doge" a shiba inu dog. Hence, "Dogecoin" was born. Bitcoin+Doge = Dogecoin.
To the two engineers surprise, In the first month www.dogecoin.com had over one million + unique visitors check out their website!
Their idea was rapidly growing at an insane rate!
The doge meme that exploded with popularity was an image of a shiba inu dog with thought bubbles leading to ideas.
The doge meme was used to express jokes about naps, losing weight, making money and even space exploration. Heres some example's of the shiba inu doge meme
Before they released dogecoin, Palmer who had been closely following cryptocurrency obliviously tweeted, "Investing in Dogecoin, pretty sure it's the next big thing."
Palmer got some replies encouraging him to pursue the idea of Dogecoin.
Within the week, he bought the domain www.dogecoin.com.
Meanwhile, in Portland, Billy Markus had been trying to code his own digital currency that would appeal to a wider demographic than the profiteers who've flooded into Bitcoin since the cryptocurrency was released in late October of 2008.
But the project wasn't going anywhere. That's when he stumbled across Dogecoin.com within a couple days of being live.
"The first thing I said was, 'This is so funny.' Then I said, 'I should just make this coin,'" Markus told Insider back in 2013.
Billy then tweeted at Jackson saying that he wanted to collaborate on the idea, and before Jackson even responded, Billy started tweaking Bitcoin's source code, which was publicly available(open source), to turn its user-facing elements into the then popular doge meme.
Soon enough, Jackson wrote back, and the business partnership was formed. A little more than a week after Jackson's joke tweet, Dogecoin was launched on December 6th of 2013.
Influences that sent Dogecoin soaring to the moon
Like most innovations and concepts, the idea got picked up on reddit, a headquarters of Dogecoin activity in 2013
This is where reddit comes in, if you're a fan of reddit then you already know how tightly knitted their communities can be.
The idea of Dogecoin got picked up by reddit which helped it grow exponentially fast in the beginning.
Different reddit communities such as https://www.reddit.com/r/wallstreetbets/ heavily promoted it, and helped it spread like wildfire. Leading it to go viral on just about every social media.
It then started getting news coverage.
But of course, it wouldn't be where it is without the one and only tech mogul Elon Musk, the meme lord himself.
He joined the movement and started continuously making tweets, posting memes and even investing his own money into dogecoin, quickly becoming Dogecoins biggest fan.
The currency was derived from the open source software project Litecoin. Unlike Bitcoin, Dogecoin does not have a limit to the number of coins that can be produced in the system.
Meaning it doesn't have a cap, where as bitcoin has a cap of 21 million. once it reaches its cap, it'll no longer be as valuable as it currently is, as of june 4th. However dogecoin, doesn't have this cap.