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Dogecoin Community Reaches Major Milestone

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Sun, 6/02/2022 - 8:13
Dogecoin Community Reaches Major Milestone
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The official Twitter account of meme cryptocurrency Dogecoin has surpassed three million followers.

It’s the second-largest cryptocurrency on the popular social media platform (behind only Bitcoin).  

For comparison, rival meme coin Shiba Inu has 2.7 million Twitter followers.

Breaking into the mainstream

The Dogecoin account has witnessed astonishing growth over the past year, recording a 681% increase in followers.  

The canine coin’s Reddit community also boasts 2.3 million subscribers. It was the most viewed cryptocurrency-related subreddit of 2021.  

Dogecoin’s popularity exploded in the fourth quarter of 2021 because of its Elon Musk-driven price rally. The Twitter account topped a million followers by the end of April amid an unprecedented retail-driven mania.  

However, this impressive growth stalled after the price of the joke cryptocurrency started crashing in early May. Still, the original meme coin, which was inspired by the Doge meme, was still up almost 5,000% in 2021, easily outperforming the vast majority of other top cryptocurrencies.       

At press time, Dogecoin is down 79.80% from its peak. Despite the price rout, the meme coin remains the 11th biggest cryptocurrency by market cap.    

Related

The two Dogecoin co-founders  

Dogecoin co-founder Billy Markus, who tweets under the Shibetoshi Nakamoto pseudonym on Twitter, has also surpassed a million Twitter followers, which makes him one of the most popular cryptocurrency founders. His account has benefited from frequent interactions with Musk, who boasts a staggering 72.8 million followers.  

Jackson Palmer, the Australian programmer who created the meme token together with Markus, has a modest 41,600 followers. Last July, he lambasted the cryptocurrency industry in a viral tweet, describing it as “a powerful cartel” run by wealthy individuals.
 

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