Billy Markus and Jackson Palmer initially started Dogecoin in 2018 as a "joke" against Bitcoin ($BTC), which is largely known as the most popular and valued cryptocurrency in the world. Dogecoin came from the popular meme of "Doge" the Shiba Inu dog which has been the center of 9GAG, Facebook, Twitter, and Reddit's meme content.
Most people have known Doge the meme, and Dogecoin which is currently the top 7 cryptocurrency in the world (as of May 31 via CoinMarketCap), with a $38 billion fully diluted market cap. But little is known of its founder and current CEO, Billy Markus, which is the legitimate "Dogefather," and not the Tesla CEO, Elon Musk.
While Musk has a lot of influence over Dogecoin and its popularity in social media, he is not affiliated with the coin, apart from SpaceX's recent venture of the Doge-1 satellite, paid with the meme cryptocurrency. A lot of people have wondered whether who is the legitimate CEO of Dogecoin is, and it was usually mistaken with Musk, but in reality, it is Markus.
Billy Markus, the Legit Dogecoin CEO
Billy Markus is a software engineer who is well-adept on memes and making jokes on the internet, and this has been the CEO's foundation in creating Dogecoin, a joke against Bitcoin's initial rising popularity. Back in 2018, Markus had partnered with Jackson Palmer, a fellow engineer, in creating the meme cryptocurrency for the world to see.
🤣🤣— Elon Musk (@elonmusk) May 30, 2021
Initially, Dogecoin's investments grew, despite not being a legitimate cryptocurrency, and pushing the creators to have it officially traded in different platforms, including that of Reddit's r/WallStreetBets. Several months ago, Dogecoin has joined Bitcoin and Ethereum ($ETH) in the top 3 of the world's cryptocurrency industry, shocking the fans and enthusiasts. Markus and Palmer are no longer developing Dogecoin, and are only letting people trade the cryptocurrency of their volition, all risks included.
Markus: Dogecoin is Expected to Stay in the Market
While Billy Markus is no longer developing the coins, he is still working as Dogecoin's top executive and its daily processes in the market. Markus expects Dogecoin to stay in the market due to the hype it brought, and as it was added by eToro, CoinBase, and other platforms in their list of trades, something that secures Doge's stay in the industry.
If someone gets frightened away by my joke tweet they very much should not buy cryptocurrency or basically be on the Internet making tweets— Shibetoshi Nakamoto (@BillyM2k) May 30, 2021
The CEO says Dogecoin's community is strong and fortified, with this helping the coin gain its popularity and maintain its valuation which is at $38 billion, despite a dropping a market cap of $0.29 from its almost 40 cents.
See what kind of stuff happens when the community is strong?https://t.co/MRPABPGR2H— Shibetoshi Nakamoto (@BillyM2k) May 31, 2021
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Written by Isaiah Richard