An Australian marketer, Jackson Palmer, made a joke back in 2013, when the Doge meme was most popular. For those who have not seen it, it consists of a picture of the face a Shiba Inus dog. Palmer’s joke suggested combining cryptocurrency and the Doge. He tweeted about the next big thing being an investment in Dogecoin.
Dogecoin, like bitcoin, is a digital form of money that can be transferred across a decentralized network. After numerous retweets, favorites, and replies, Palmer took the joke a step further and bought a domain name to a website. Then he uploaded a picture of a digital coin with a picture of a Shiba Inus dog on it. Billy Markus, a software developer at IBM, decided to contact Palmer about this idea he had going. Markus decided to start working on the new cryptocurrency before Palmer got back to him. Markus, wasting no time at all, said it only took him about three hours before he set it live; he used bitcoin as a template, changing certain things here and there. To Palmer, this was all still a joke, but Markus decided to set it and mine for Dogecoin.
From that point on, things began to progress and it became very popular very quickly. The talk about the cryptocurrency on Reddit was what sent the popularity through the roof. Users were making transactions left and right. Unfortunately, Palmer and Markus made a wrong turn somewhere, lost most money they invested, and the whole thing came crashing down. Instead of working with it, both Markus and Palmer decided to bail, and that was practically the end of Dogecoin.