jackson palmer

Doge Day Then and Now: Lackluster Buzz as Dogecoin’s Price Is 65% Lower Than Last Year

20/04/2022 by Idelto Editor

While April 20 or 420 is synonymous with cannabis culture, the day is also considered “Doge Day,” by a great number of dogecoin supporters. The day prior on Twitter, the Doge network’s co-founder Billy Markus asked what people should expect on Doge Day and for dogecoin’s price action. 12 months ago dogecoin was swapping hands for $0.44 per unit on Doge Day and today the meme-based crypto asset is down 65.3% from that value.

Last Year During Doge Day, Dogecoin Was up 18,299% and Saw Fresh New Price Highs

Last year, the popular meme-token dogecoin (DOGE) saw phenomenal gains. Statistics show on April 16, 2021, DOGE was up 18,299% against the U.S. dollar in 12 months and as April 20th, otherwise known as Doge Day approached, DOGE was awfully close to $0.50 per unit. Year-to-date, metrics show DOGE is currently down 65.3% despite gaining 19.2% over the last 30 days. DOGE also reached an all-time high last year at $0.731 per unit on May 08, 2021, just after last year’s Doge Day. Since that day, DOGE has shed 80.7% in value against the U.S. dollar.

Doge Day in 2021 was a whole lot different for the meme token as dogecoin got a great deal of attention. For instance, that month in April, the popular talk show host Ellen Degeneres talked about dogecoin with the Shark Tank co-star and billionaire investor Mark Cuban. One dogecoin investor told the press that month he became a millionaire in as little as two months. Another dogecoin investor donated her gains to a dog shelter in Florida after DOGE reached new price highs in April.

While 2022’s Doge Day May Be Lackluster, Dogecoin Is Still a Top 20 Crypto Asset and the Largest Meme-Based Digital Currency Today

This year dogecoin markets and the hype surrounding the meme-based crypto have been extremely lackluster compared to last year. On April 19, DOGE co-founder Billy Markus asked on Twitter: “[Question:] what should we expect on [Doge Day] for dogecoin price action tomorrow? [Answer]: nothing.” Later in the day, Markus tweeted: “Happy Doge Day,” with a dog GIF animation. There were plenty of dogecoin fans that tweeted celebratory statements about Doge Day, but the day’s buildup was nothing like it was in 2021.

Dogecoin is still the largest meme-based crypto asset by market capitalization with $18.8 billion. DOGE also commands the 12th largest market capitalization out of the 13,671 cryptocurrencies in existence today. It has also inspired a myriad of meme-based crypto assets which are currently worth $34.4 billion today. This included the top meme cryptos below dogecoin’s market cap such as shiba inu (SHIB), dogelon mars (ELON), baby doge coin (BABYDOGE), and floki inu (FLOKI).

What do you think about dogecoin lately and the difference between last year’s and this year’s Doge Day? Let us know what you think about this subject in the comments section below.

Dogecoin Co-Founder Suggests an Ethereum Bridge to Doge and Compatible NFT Markets

01/10/2021 by Idelto Editor

Billy Markus, the co-founder of Dogecoin, explained on Wednesday that an Ethereum bridge to the Doge network would bolster the dogecoin ecosystem. Markus also said that non-fungible token (NFT) markets “would help Dogecoin” as well.

Dogecoin Co-Creator Thinks 2 Ideas Could Help the Doge Network

The popular crypto asset dogecoin (DOGE) has gained a whopping 7,500% during the last 12 months and reached a high of $0.731 per unit on May 8, 2021. However, DOGE is down 72% since that all-time high and 25.4% during the last month.

While the Dogecoin co-founder Jackson Palmer criticized the crypto world and said it was managed by powerful cartels, Billy Markus speaks about crypto in a positive manner.

On Wednesday, Markus tweeted about the meme-based crypto network he helped create and discussed how the project could be helped by adding two things.

“Two things I believe would help Dogecoin: [The] completion of DOGEETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases,” Markus added:

NFT purchasing is [in] high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.

Some People Are Already Discussing a DogecoinEthereum Bridge

Markus’s idea follows the suggestions from the co-founder of Ethereum Vitalik Buterin during the first week of September.

“Personally, I hope that doge can switch to PoS soon, perhaps using Ethereum code,” Buterin said at the time. “I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin’s non-greedy wholesome ethos.”

Meanwhile, a number of individuals liked Markus’s concept of an ETH DOGE bridge and NFT utility. “DOGE being implemented into the NFT ecosystem would be a huge benefit to the community,” one individual said in response to the DOGE co-creator’s tweet.

A Twitter account dubbed “DogeX” tweeted: “HEY Billy Markus our metaverse developer spoke with Steven Steele about this last week. We are actively trying to work with you on this concept while we build out the Doge X ecosystem.”

What do you think about the ideas the co-creator of DOGE shared on Twitter? Let us know what you think about this subject in the comments section below.

Coinbase CEO Rebuffs Dogecoin Co-Founder Statements: ‘Crypto Is an Alternative for People Who Want More Freedom’

19/07/2021 by Idelto Editor

Brian Armstrong, CEO of Coinbase, took to Twitter to tell his thoughts about the statements that Jackson Palmer, co-founder of Dogecoin, expressed last week. While Palmer now has a negative vision of the cryptocurrency industry, Armstrong is in the opposite field. To Armstrong, the cryptocurrency industry has its problems, but it still provides an alternative for people who want more economic freedom.

Coinbase CEO Faces Dogecoin Founder for His Views on Cryptocurrency

Capitalistic, right-wing, centralized… these were some of the traits that the Dogecoin co-founder Jackson Palmer attributed to the cryptocurrency market as a whole earlier this week. Palmer’s thoughts about the current state of the cryptocurrency industry caused harsh reactions across social media. But one of the few that articulated a structured answer to Palmer’s tweetstorm was none other than Brian Armstrong, CEO of Coinbase.

Armstrong stated that while the cryptocurrency system as conceived now has its problems, it is a vastly better offer than what the traditional system offers. Armstrong stated:

If you believe government solutions are often inefficient, overpromise/underdeliver, and come with unintended consequences, and that personal responsibility mixed with free markets will create better outcomes for everyone, then crypto is a much needed breath of fresh air.

To Armstrong, Palmer is wrong about a fundamental subject: crypto is not designed to solve income inequality. It is more about personal choice and opportunities. Regarding this, Armstrong declared:

Crypto is not going to solve wealth inequality – it’s not trying to create the same outcome for everyone. But it does create wealth mobility and more equality of opportunity for everyone. It levels the playing field, at least to some degree.

To conclude, the CEO of Coinbase stated that cryptocurrency is just another choice in the financial world, but one that provides freedom to its users. Armstrong stressed:

Crypto is simply providing an alternative for people who want more freedom. Everyone can make their own choice, and that is probably a good thing.

Brian Armstrong Has Always Strived to Promote Economic Freedom

Armstrong’s views on the cryptocurrency market are not new or surprising. He was one of the first individuals that saw a future in the now booming cryptocurrency market back in 2012 when he founded Coinbase. Armstrong has since advocated for economic freedom and has (unsurprisingly) touted Coinbase as a trusted company to achieve that.

In a public letter filed when Coinbase went public last April, Armstrong stated the current system was “rife with high fees, delays, unequal access, and barriers to innovation,” and that “everyone deserves access to financial services that can help empower them to create a better life for themselves.”

What do you think about Brian Armstrong’s views on Jackson Palmer’s tweetstorm? Tell us in the comments section below.

SHIB vs. DOGE – Who Is the Top Dog in Crypto Land?

05/06/2021 by Idelto Editor

Over the last few months two distinct dog cryptocurrencies, shiba inu and dogecoin, have been making waves within the crypto economy. While dogecoin has been around since 2013 and has seen massive gains during the last year, the relatively new ERC20 crypto shiba inu has jumped significantly in value as well.

Both Dogecoin and Shiba Inu Have Outshined Bitcoin’s Market Performance

The cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) have made huge gains in 2021. In fact, both of these digital assets have outshined a great number of cryptos as far as percentage gains against the U.S. dollar are concerned. For example, investing in bitcoin (BTC) a year ago shows the investor would have gained a nice 290% against the USD. Dogecoin, on the other hand, at $0.37 per unit would have made the investor 14,787%, according to today’s 12-month data.

Shiba inu tokens were invoked in August 2020 and are only 10 months old, newbies in comparison to dogecoin’s 2013 OG origins. There is no price data prior to January 1, 2021, which notes that SHIB was trading for $0.00000001 according to Coingecko. The price remained in this range for a few weeks after, but since then the token has risen 90,100% to today’s $0.00000862 exchange rate. 30-day stats show DOGE is down 33% but SHIB is up 425.6% over the course of the month.

Weekly stats show SHIB has gained 13.8% but DOGE has outrun the token with 27.10% during the last week. Dogecoin investors have Elon Musk to thank this year, and on the other side of the token shiba inu investors can in turn thank dogecoin. While dogecoin was created by software engineers Billy Markus and Jackson Palmer as a joke and for fun, SHIB was also created for the same reasons. However, no one knows the identity of the SHIB programmer, as the ERC20 token was launched by its anonymous founder known as “Ryoshi.”

Neither Canine Crypto Is Scarce

Both coins have logos that feature the likeness of a Shiba Inu dog and both digital assets have lively communities. While there is a large DOGE ‘Army’ there are a number of fans who refer to themselves as the ‘SHIB Army.’ Coingecko ranks the shiba inu (SHIB) market capitalization in position 30 with a $4.5 billion market valuation. The dogecoin (DOGE) market capitalization today is much higher at $49 billion.

Fees are higher to send SHIB as it costs 0.0019 ETH ($5.32) per transfer compared to 2.48 DOGE ($0.933) to send dogecoin. Dogecoin is widely available on a lot more exchanges than shiba inu, and recently got added to Coinbase. People can find SHIB on exchanges like Okex, Huobi, ShibaSwap, Kucoin, Coinbene, Probit Global, Binance, Crypto.com, Coindcx, and Wazirx.

Moreover, there are a lot more SHIB tokens in circulation than DOGE. Data shows 497 trillion SHIB tokens exist today while there’s only 129 billion DOGE in circulation. Over the course of the last 24 hours, SHIB saw $800 million in global trading volume. Dogecoin’s volume surpassed that metric by a long shot with $6.2 billion in global DOGE swaps. These two coins may be similar as they both share the likeness of a Shiba Inu dog, but they have distinct differences as well.

What do you think about dogecoin and shiba inu? Let us know what you think about this subject in the comments section below.

Dogecoin Market Cap Nears $100B, Critics Blast ‘Joke Coin,’ Community Abuzz With Rumors of DOGE Whales

08/05/2021 by Idelto Editor

The infamous meme-based cryptocurrency dogecoin is on the move again just before the upcoming Saturday Night Live episode featuring Elon Musk. While dogecoin is up 81% today a lot of cryptocurrency veterans have been warning newbies about the digital currency that was meant to be a joke. Meanwhile, others believe that dogecoin has a lot of potential, and could be a long-standing competitor in the world of crypto assets.

Dogecoin Markets See a Pre-SNL Rise

The cryptocurrency that literally began as a joke, dogecoin (DOGE) is nearing a $100 billion market capitalization on Saturday. DOGE is a crypto asset that was developed and launched in December 2013 by software engineers Billy Markus and Jackson Palmer. The dogecoin logo features the face of the Shiba Inu dog and the logo is popular due to the original Doge meme that went viral on the internet. Currently, the crypto asset is on a tear up 81% during the last seven days and a whopping 1,073% during the last month.

This has drawn a lot of attention and not only that, but Tesla’s Elon Musk has been tweeting about the Shiba Inu meme coin for quite some time now. Musk called dogecoin his “favorite” crypto once and some people assume he may mention DOGE on the upcoming Saturday Night Live show airing on May 8.

A few other celebrities have also been saying good things about dogecoin on Twitter including Gene Simmons, Snoop Dogg, and Mark Cuban. But not everyone is so nice to the Shiba Inu meme-based crypto asset as veterans have warned people about the asset’s risks.

One issue with DOGE is the fact that there are billions of units in circulation and as of today, the supply is around 129,517,138,098 DOGE. Dogecoin can also still be mined with ASIC mining rigs. Furthermore, unlike crypto assets like bitcoin with a hard supply cap of 21 million, the Dogecoin network is inflationary as Jackson Palmer decided to remove the protocols cap which was 100 billion DOGE. Another reason people dislike dogecoin (DOGE) is because of the whales holding the coin.

The Mysterious Dogecoin Whales and the ‘Punchline’

This DOGE address for instance holds 36 billion coins at the time of publication and some believe the owner is a whale and others think it may be an exchange. The top seven addresses in the dogecoin-rich list own quite a bit of the supply. Into the Block statistics show the concentration by large DOGE holders is 65% which is much higher than most networks. Data for “Holders’ Composition by Time Held” indicates that dogecoin holders do not hold as long as they would with assets like BTC or BCH. 54% of DOGE owners have held for over a year and 21% for less than a month according to Into the Block stats.

Many editorials and opinion pieces have been published warning people about investing in dogecoin. One article called “Dogecoin’s a Joke, Don’t Make Yourself the Punchline” published on kiplinger.com gives the meme-based currency a scathing critique. Others believe dogecoin is the future and that it could actually make it into mainstream acceptance. A recently published study written by protos.com indicates that some big DOGE whales have “strong hands.”

“Dogecoin’s five biggest whales are now sitting on over $3 billion worth of the meme-inspired cryptocurrency— up from a measly $40 million at the start of the year,” the report notes. “One of the dogecoin whales, which we’ve dubbed “Bs4,” is alone holding more than 3.1 billion DOGE, the equivalent of $1 billion at today’s prices.”

The protos.com report adds:

Some believe Bs4 could belong to one of Elon Musk’s sons. The Tesla billionaire tweeted he’d bought some dogecoin for his birthday one day after that billion DOGE deposit.

The study by protos.com further explains that its been following five dogecoin whales and two of them have been selling. “The other three whales are yet to withdraw any DOGE at all. Either they have very strong hands or they’ve lost access to the associated private keys,” the report’s author stresses. “At press time, these five Dogecoin whales control roughly 6% of Dogecoin’s supply (about 8 billion DOGE),” the protos.com report concludes on April 19.

What do you think about the dogecoin craziness and the meme coins believers and skeptics? Let us know what you think about this subject in the comments section below.