Did you know that the unique beauty of cute animals combined with the power of influencer media can inspire the creation of coin memes in the world of cryptocurrency?

Indeed, because of the cuteness of those coin memes and their desire to profit while speculating, these cryptocurrencies have recently attracted a lot of attention from the community.

Among those amusing coin memes, the appearance of Dogecoin can be credited with being the catalyst for the emergence of other coin memes, and it is also the most well-known coin meme in the crypto community.

What animal comes to mind when you hear the word “Doge”? Why does it both impress and disappoint investors? Are there any amusing stories about Dogecoin?

The birth of Dogecoin

Because of the good combination of Jackson Palmer and Markus, Dogecoin was inspired by the image of a Japanese dog named Shibu Inu.

In 2013, Jackson Palmer, a product manager at Adobe Inc. in Sydney, Australia, created Dogecoin as a way to quell the cryptocurrency hype. Following his tweets, this project was completed quickly. At the time, Billy Markus, a software developer at IBM who also wanted to create a digital currency but was having difficulty, discovered the establishment of Dogecoin coin in Portland, Oregon. Then Markus contacted Palmer to ask for permission to create the Dogecoin software.

Finally, on December 6, 2013, Palmer and Markus launched the coin. The surprising part is that Dogecoin’s value has increased by 300 percent in less than two weeks, on December 19.

The impact of Elon Musk on Dogecoin

Do you know why Dogecoin makes investors think of Elon Musk?

Elon Musk has been named “Person of the Year” for the year 2021. Elon Musk has gone from failure to becoming the world’s richest billionaire. He is regarded as one of the most powerful people on the planet.

Many people believe in Elon Musk’s words or advice as a result of his influence. The popularity of Dogecoin is largely due to his influence. After a tweet, he caused the price of this digital currency to increase by 100%. On the 14th, many Twitter users followed him and became excited, leaving the comment “Dogecoin to the moon” under the post, and the hashtag #dogecoin became a trending keyword on Twitter. Many investors are also drawn to dogecoin because of the positive tweets about it.

Musk has been a vocal supporter of Dogecoin; in particular, Musk has publicly endorsed Dogecoin and collaborated with the coin’s developers to improve transaction efficiency. Tesla should accept Dogecoin as a form of payment, according to the SpaceX founder, who conducted a social media poll. As a result, many different types of businesses accept Dogecoin, including Elon Musk’s SpaceX and the Dallas Mavericks, to name a few. Many Dogecoin users monetize content creators on Reddit and other social media platforms.

AMC Entertainment Holdings, Inc. (AMC) announced in October that it will accept Dogecoin for digital gift card purchases, giving the meme-based cryptocurrency a utility.

Dogecoin’s market cap rating is number ten as of October 8, 2021, with a market cap of $31.9 billion, significantly higher than where it was in 2019, Dogecoin’s popularity is reflected in the numbers.

Some stories of Dogecoin

Investors’ FOMO stories

Many people decided to “downsize” when they read some information online that predicted money because of the popularity of DOGECOIN thanks to a series of tweets by Tesla CEO Elon Musk posted on Twitter in July 2020. This number will rise to 1 USD by the end of 2021, so buy now to avoid FOMO.

What surprises us is that, unlike other blockchain-based coins that grew out of a well-defined project development roadmap, Dogecoin was simply popularized by celebrities like Elon Musk, Mark Cuban, Snoop Dogg, and Gene Simmons.

The funny story here is that in 2021, after peaking in May, the cryptocurrency market fell deeply in the period from mid-June to mid-July. Dogecoin price dropped by almost half compared to June and down nearly 70% from the peak in May, this made many investors impatient and restless.

At this time, Dogecoin groups on social networks are wondering whether to continue holding or selling. Some investors were afraid and could not wait to sell their existing coins to invest in other codes with higher profits. They also no longer believe in this digital currency because Dogecoin plummets when the market is volatile, but it takes longer to recover than other cryptocurrencies and they think that Dogecoin increases in price thanks to celebrities only. In addition, during that time, Elon Musk also rarely mentioned Dogecoin. Even talking about it, this coin doesn’t spike like before

Besides, there are also people who hold back despite the price drop and have not shown any signs of recovery because they believe in its potential or maybe they wait for their luck. They believe that Dogecoin can still rise because it is bought by many billionaires so as not to let the loss happen or let it affect their reputation.

A hilarious war of words between Elon Musk and CZ

Did you know that the founder of Binance once “inadvertently transferred” an amount of Dogecoin to the wallets of over 1.6 thousand Binance users? Following this incident, Binance requested that users return their Dogecoins. Otherwise, the exchange’s “withdrawal” feature and trading will be disabled. The funny part is that many users claim they don’t have any Dogecoins in their wallets, which enraged Binance CEO Changpeng Zhao, who then locked the users’ accounts on the exchange.

Elon Musk made some amusing remarks to Changpeng Zhao, the CEO of cryptocurrency exchange Binance, according to the story. Elon Musk specifically stated on Twitter, “Hey CZ, what’s up with your Dogecoin users?” “Investors who own Dogecoin on Binance should be protected from them causing non-faults,” Musk said.

As the joke went on, Binance’s CEO quickly responded: “We’re pretty sure this is a technical issue with the most recent Dogecoin wallet, Elon. Dogecoin’s development team has been contacted. Please accept my apologies for any inconvenience this has caused you. What exactly is going on here?”

The irony is that he sent out a tweet with a link to an article from The Guardian about a software bug in Tesla electric cars that has resulted in the recall of nearly 12,000 vehicles in the United States.

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