Dogecoin started out as a joke; now it's the 5th most popular cryptocurrency

Dogecoin has a market cap of $53 billion as of today.


Alfred Lee

20 Apr, 2021

Dogecoin started out as a joke; now it's the 5th most popular cryptocurrency | BEAMSTART News

- From our Sponsors -

Dogecoin has been making headlines on the news a lot lately.

The controversial cryptocurrency's price has skyrocketed by over 100X in just a matter of months (from $0.004 to $0.40), jumping up the ranks to become the 5th most popular cryptocurrency by market value.

At its peak on April 16th, Dogecoin had a market capitalisation of $70.36 billion.

Dogecoin price has skyrocketed in recent months by over 100X.

Dogecoin started out as a joke

Launched in 2013 by IBM and Adobe engineers Billy Markus and Jackson Palmer, the Shiba-inu meme cryptocurrency initially started out as a joke.

It eventually went on to gain a huge worldwide community, largely made out of cryptocurrency enthusiasts and meme lovers from platforms such as Reddit and 9gag.

Co-founder of Dogecoin, Jackson Palmer.

Dogecoin is inflationary

While Dogecoin has similar characteristics as many other cryptocurrencies, it has inflationary supply — meaning the supply of Dogecoin tokens (coins) is not limited, and continues to increase over time (hence gradually reducing its value due to inflation).

As of today, there are 129.26 billion Dogecoin tokens in circulation, and is expected to increase to 130 billion by the end of 2021, and 150 billion by 2025.

A recent tweet by Elon Musk on Dogecoin.

"Dogecoin to the moon"

While it is still uncertain if Dogecoin's price will continue to skyrocket, many are predicting that the cryptocurrency has the potential to reach at least $1 if its market value catches up with its circulating supply.

In other words, Dogecoin's market value has to reach $130 billion by the end of 2021 for it to reach $1.

As of now, the cryptocurrency still has limited real world use, but several businesses have begun accepting Dogecoin as money, further increasing widespread adoption.

Notable people (and influencers) like Elon Musk have also been seen advocating Dogecoin, further driving its price up.

- From our Sponsors -

Latest Jobs

AI Engineer

Mercura

Bavaria,

Full Time

USD 60000 — USD 80000 yearly

Founding Engineer (Backend)

Pally

California,

Full Time

USD 120000 — USD 240000 yearly

Account Executive

Novoflow

California,

Full Time

USD 200000 — USD 250000 yearly

Sales Development Representative

Usul

California,

Full Time

USD 70000 — USD 150000 yearly

Senior Software Engineer

Crustdata

California,

Full Time

USD 150000 — USD 220000 yearly

Founding Recruiter

Giga

California,

Full Time

USD 110000 — USD 170000 yearly

Hardware Engineer

Makani Science

California,

Full Time

USD 65000 — USD 130000 yearly

Software Engineer

Solidroad

California,

Full Time

USD 170 — USD 220 yearly

Applied AI Engineer

Argon AI, Inc.

New York,

Full Time

USD 200000 — USD 300000 yearly

Account Executive

Conduit

California,

Full Time

USD 160000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).