The Problem With The 2023 Dogecoin Bubble

Many people are picking dogecoin to be the next bitcoin. Some say that's ridiculous and it's going crash to 0. Let's go over these arguments and discuss if dogecoin is actually a smart investment to make...

Created as a joke in 2013, dogecoin has become one of the largest cryptocurrencies that exist today. It's larger than Litecoin, tether, bitcoin cash & Chainlink. But how did it get so big, is it still a good investment, or is it in a bubble that will inevitable pop?

So on December the 6th 2013 IBM software engineer Billy Markus, and Adobe software engineer Jackson Palmer set out to create a cryptocurrency as a joke. They combine the concept of bitcoin with the meme popular throughout the internet called doge. The result = dogecoin. Just like many people thought Trumps campaign was a joke, or flying an aero plane a 100 years ago, sometimes these things end up changing the world.

And dogecoin only really started to gain transaction in July 2020 when the TikTok community decided to rally around it. They began the hashtag #dogecointiktok challenge which encouraged the community to buy the stock to get it's price to $1. They worked out that if all 800 million tiktok users bought $25 of dogecoin everyone would reach $10,000 when the price = $1. And this hype from the tiktok community grew the price of the doge. It went from being worth .0023 at the start