Dogecoin rose to fame after its price increased by 1,000% within months in 2020, grabbing the attention of cryptocurrency investors worldwide. The surge sparked significant interest in the asset as it was listed in the top 10 largest crypto assets by market capitalization. This was the first time a meme coin with seemingly no utility broke into the exclusive top ten.
Dogecoin started as a joke, but it developed to become a famous cryptocurrency. Its success brought about a new class of crypto assets – meme coins. Shiba Inu (SHIB) and Floki Inu (FLOKI) were launched as meme coins, i.e., cryptocurrencies launched as a parody or inside joke rather than as a digital product that actually has some utility.
As DOGE grew, it was only a matter of time before Coinbase, the largest cryptocurrency exchange in the US, listed the asset. The listing was historic for Dogecoin’s community, and this article will explore the best way for users to buy DOGE on Coinbase in great detail.
What Is Dogecoin
What is Dogecoin explanation
Dogecoin was released on December 6, 2013. Created by software developers Billy Markus and Jackson Palmer, it was initially intended as a joke, lampooning other cryptocurrencies like Bitcoin for their grand plans of changing the world. Dogecoin was created from the viral internet meme of a Japanese Shiba Inu dog used as its logo and namesake.
Dogecoin is based on Litecoin’s code and uses a Scrypt-based hash function. The network has a block time of 1 minute and a block reward of 10,000 Dogecoins. There is 132.6 billion DOGE in circulation, with a max supply of 21 million.
Although initially created as a joke, Dogecoin has been used to facilitate transactions due to its speed and low transaction fees. Dogecoin…