The Dogecoin (CRYPTO: DOGE) was created in 2013 by Jackson Palmer and Billy Markus as a joke based on a popular meme portraying a Shiba Inu.
The crypto coin has garnered much popularity following Tesla Inc (NASDAQ:TSLA) CEO Elon Musk's endorsement of the meme coin as his favorite cryptocurrency.
Dogecoin has made way for more meme coins such as Shiba Inu (CRYPTO: SHIB), Dogelon Mars (CRYPTO: ELON), and Floki Inu (CRYPTO: FLOKI), and many more.
In a recent Tweet, Markus, who goes by the pseudonym Shibetoshi Nakamoto on Twitter, outlined how he'd like the Dogecoin community to utilize the crypto.
here is my desire for dogecoin:
— Shibetoshi Nakamoto (@BillyM2k) June 17, 2022
- people actually use it for something beyond pump and dump bullshit so it has a reason to exist
- the community understands what crypto is and what the crypto market is and knows that it's all kinda dumb and has fun with it
that's about it
Markus also urged people to keep working on the meme coin, adding more utility and security. Elon Musk responded, suggesting that Dogecoin should operate more like a currency.
More currency-like
— Elon Musk (@elonmusk) June 18, 2022
Also Read: Musk Reacts To Jack Dorsey's Bitcoin Web5 Project, Says Dogecoin Web69 Would Be Fire
Last month, Markus spoke about the Dogecoin and said that he created DOGE as a "satire" to show "how many dumb coins exist."
$doge: made 8 years ago as satire of the cryptocurrency scene and how many dumb coins exist, at a time when the scene took itself super seriously. got popular despite this. founders made barely anything.
— Shibetoshi Nakamoto (@BillyM2k) May 17, 2022
current “meme” coins: made to make founders rich.
we are not the same.
At the time of writing, DOGE was trading at $0.05422, down 5.72% in the last seven days. The crypto has fallend 25% in the past seven days.
Photo: Created with an image from Ministério Das Comunicações on Flickr
