Dogecoin came on to the scene as something of a joke, but it rapidly exploded in the market through the power of online communities that pushed it skyward.
Billy Markus from Portland, Oregon, first developed DOGE as a currency for fun, naming it after the “doge” meme of Shiba Inu. It swiftly and unexpectedly grew in value, as thousands of users and entire online communities came into existence for the purpose of sharing the currency and posting new memes about the coin online. This generation of hype paid off, and it has found its place among the top cryptocurrencies of the market today.