Crypto Corner: a profile on DOGE

Much coin. So crypto. Wow.

You probably remember the hype surrounding Dogecoin last year. We welcomed this iconic meme coin to the Wirex app in September, but in case you missed it, here’s the lowdown.

What is DOGE?

DOGE is a peer-to-peer, open-source cryptocurrency based on a popular meme featuring a Shiba Inu dog. It’s known as a “fun” version of Bitcoin, showing the public a more light-hearted side to crypto.

Dogecoin hit the headlines last year after Tesla founder Elon Musk (AKA the self-proclaimed “Dogemaster”) announced the company would accept it as a means of payment for its goods. Following this, it quickly gained a lot of attention and seemingly kicked off a meme coin trend, with several new cryptocurrencies following in its footsteps, such as Shiba Inu, SafeMoon, Hoge Finance and more.

In terms of its technology, it uses the same proof-of-work (PoW) protocol as Litecoin.

What can you do with DOGE?

DOGE, like any other cryptocurrency, can be sent or received without the need for a third party. You can also buy and exchange it at exclusive OTC rates in the Wirex app or spend it in real-life with the Wirex card.

Who came up with the idea?

Dogecoin was founded by Billy Markus and Jackson Palmer in 2013. While it started out as a joke, it quickly gained a significant following and has now become a top ten crypto asset.

Any fun facts?

Dogecoin’s loyal community have used the cryptocurrency as a tipping currency to help raise funds for certain events. In January 2014, the community donated 27 million dogecoins (worth around $30k at the time) to fund the Jamaican bobsled team’s travels to the Sochi Winter Olympic games. It also donated around £11k worth of dogecoin to build a wall in Kenya in the same year.

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Hello,
are you going to do X-account with the doge?

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Thanks for the suggestion im sure in the future it will be sir. Stay tuned. :muscle::heart:

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Thanks for the explanation! :spiral_notepad:

Definitely was fun following the whole DOGE-MUSK saga hehe , has the hype dried out since then? Hmm… :money_mouth_face: