Dogecoin (DOGE) first gained attention in crypto when Jackson Palmer, a computer programmer, posted the now infamous Shiba Inu dog with the comment, “Pretty sure it’s the next big thing.”
The post went viral and caught the eye of programmer Billy Markus who had been working on his own cryptocurrency. Thinking dogecoin could be more than a joke, he teamed up with Palmer to develop the dogecoin cryptocurrency. It bears a similar structure to Bitcoin with a limited coin supply and POW block validation.
Despite the original sarcasm behind its creation, the technology powering dogecoin is legitimate. It has since been used across the crypto community for tipping and micropayments and is gaining further traction in the wake of Binance’s announcement.