In November 2013, Jackson Palmer, the founder of Dogecoin, joked about his vision for a “meme coin” cryptocurrency. Developed alongside programmer Billy Markus, Palmer turned the meme-based cryptocurrency into reality in December of the same year, allowing anyone in the world to mine and trade DOGE. Since that time, DOGE has stunned the world with its rise to become one of the top 50 cryptocurrencies as measured by market capitalization. At its peak, Dogecoin reached a network value of nearly $2 billion.
Dogecoin was designed to be a more user-friendly version of its crypto counterparts with a coin supply that is uncapped and forever inflating. The coin supply of DOGE now exceeds 120 billion. This is a wildly different take to Bitcoin, whose coin supply is limited to 21 million. However, the widespread availability of DOGE and its inflationary supply has made it the ideal cryptocurrency for gamblers who would rather bet than invest.
DOGE also boasts one of the most active online communities, whose activity across social channels – particularly Reddit – was enough to help raise funds for many charitable causes and landed Dogecoin with a sponsorship at NASCAR. The DOGE community has also led to the success of many different Dogecoin casinos, with trusted betting sites being wilfully shared among users.