In 2021, the half-forgotten meme-coin Dogecoin (DOGE) gained a second wind and quickly broke into the TOP 10 largest cryptocurrencies. For some time, it surpassed even the stablecoin Tether (USDT) in terms of capitalization, displacing it to the sixth position in the rating.
In the cryptocurrency market, the impossible is indeed possible. And Dogecoin is a clear evidence of this statement. During its existence, the joke coin not only did not disappear, as its creators assumed. It survived many other crypto projects and miraculously kept itself in the top 30 by market capitalization.
A little History of Dogecoin
At the end of 2013, which went down in history as the First Cryptocurrency Boom, Australian marketer Jackson Palmer joked on social networks that Dogecoin would be the next popular coin and it would be a very serious thing indeed.
What nonsense a person would not have conceived, sooner or later like-minded people appear in him. Nonsense published on social networks attracts like-minded people almost instantly.
Crypto enthusiasts took Palmer’s joke at face value and had to develop it further. He created a website, uploaded an image of the world-famous dog of the Shiba Inu breed to it and photoshopped it onto a coin.
Soon after, programmer Billy Marcus joined him, who created the code for a new coin, once again changing the open code of Bitcoin. That is, technically Dogecoin is nothing more than a very distant hard fork of Bitcoin, but historically it is one of the very first and tenacious altcoins.
The popularization of the coin was greatly facilitated by the system of tips for good deeds and the Reddit bot launched for this purpose.
Since 2014, the creators of Dogecoin have initiated several charitable actions. Among them are raising funds to finance the Jamaican Olympic bobsleigh team, building wells in Kenya, training dogs for autistic children.
However, as the community grew, more and more people began to come to it, considering the coin as a means of earning. Ultimately, both founders left the project.
Palmer and Marcus did not set ambitious goals for themselves, did not invest in the project of revolutionary ideas and never hid it.
Resurrection of a good joke
Passions for Dogecoin subsided, but at the beginning of 2021, participants in the GameStop (GME) pump remembered the meme-coin. As a result, the price of DOGE jumped by 250%.
The coin owes its historical maximum to a tweet by Elon Musk. During 2021, the CEO of Tesla repeatedly spoke favorably about the coin, and each time a new local peak formed on the price chart.
How to exchange DOGE for Bitcoin
Dogecoin is traded on many top cryptocurrency exchanges, this is the most obvious way to exchange DOGE to BTC. First of all, you need to choose an exchange that suits you in all respects. Then you have to:
- Create an account and complete on-demand verification.
- Top up the deposit in DOGE.
- Choose a cryptocurrency pair DOGE/BTC.
- Create an exchange order.
- After the execution of the order, withdraw the exchanged coins to an external BTC wallet, if you do not plan to continue trading.
The traditional exchange suits not all cryptocurrency owners. Among the possible alternatives, pay attention to the LetsExchange platform. The functionality of the instant exchange service is available without registration. You need to fill in the exchange widget following the instructions:
- In the upper field, select DOGE for sale and enter the amount of coins to exchange.
- In the bottom field, select BITCOIN.
- Enter your wallet address.
- Make a deposit in DOGE.
- Click the “Exchange” button.
The exchange and crediting of coins are performed automatically. Lets Exchange is a service where the exchange is simple, fast and as safe as possible.