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- Dogecoin is getting tremendously popular since the past few weeks
- Elon Musk recently announced Dogecoin as his favourite cryptocurrency
- Ross Nicoll with a team of developers wants to issue another significant update to the crypto asset
Billy Markus and Jackson Palmer created Dogecoin as a prank in 2013. Their intention behind creating Dogecoin was to tease other cryptocurrencies. Shiba Inu is the lucky charm of Dogecoin. It is a specific variety of Japanese dogs.
Dogecoin’s surging popularity
The creator of Dogecoin, the meme-based cryptocurrency, launched the crypto asset as a joke. However, the crypto asset has received tremendous popularity over the past few weeks.
With due credits to noticeability from billionaires, popular stars, and YouTubers, the prices of Dogecoin are escalating significantly. The Tesla Chief executive Elon Musk also recently declared Dogecoin as his favorite cryptocurrency. His recent tweet stated his underlying opinion of how according to him, Dogecoin is underrated.
Now, the Dogecoin price surged with a blistering value of 600% in late January. In response to this, the developers who previously renounced the meme-coin returned to the space of the crypto asset. Besides, they are now planning to upgrade the maturing software.
Ross Nicoll’s plan to release another update
Dogecoin lead administrator, Ross Nicoll, recently stated that they wish to keep the currency functional as it emerged as a winner in terms of attention when the prices took off. Established in 2013, Dogecoin observed its last major update back in June 2019.
However, now Ross with a team of developers wants to issue another significant update to highlight solutions for Dogecoin’s scalability and safety issues within this year. He stated that everybody prioritizes security. He accepted that the development might slow down but they will always look for safety concerns to ensure that the software is updated.
When retail investors arranged via Reddit’s WallStreetBets and chat bands of Telegram jumped into cryptocurrencies, Dogecoin surged significantly at that point. Though the price of the crypto asset fell from its peak of just above $0.08, it remains mostly at where it started in 2021.
Billy’s fascinating statements on Dogecoin
The co-founder, Billy Markus, released an open letter on the platform of Reddit this week. The letter addressed his response to the intensified interest in the respective cryptocurrency. The most surprising part remains that it was created as a joke.
Billy also reacted to updates in the crypto world associated with Elon Musk. He explained that he feels half detached. However, the Doge Mother, as he is popularly called, thinks Dogecoin can prove to be a good force.
Thus, the internet-savvy enthusiasts carry on to highlight the tongue-in-cheek BTC rival as they wish to push it yet higher.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
