Dogecoin (DOGE) co-founder Billy Markus said the success of the meme cryptocurrency depends on contributions from Dogecoin holders in several ways, including “making memes” and “contributing to good causes.”
What Happened: Markus noted on Twitter that Dogecoin will fail if people are “finger-pointing” at the cryptocurrency, rather than contributing to its success.
Marcus, who goes by the username Shibetoshi Nakamoto on Twitter, urged the Dogecoin community to contribute in several ways for the Shiba Inu-themed cryptocurrency to succeed. These include using the altcoin as currency, tipping others, making memes and contributing to good causes.
What is contributing?— Shibetoshi Nakamoto (@BillyM2k) June 14, 2021
- Using the currency as currency
- Tipping others
- Creating things
- Running events
- Making memes
- Contributing to good causes
- Running a business that accepts DOGE
- Getting new businesses to accept DOGE
- Being positive and having fun
He also urged the cryptocurrency's supporters to read his open letter to the Dogecoin community that he wrote way back in 2014, adding that his position on the meme cryptocurrency has not changed.
Why It Matters: Dogecoin was created mainly as a joke in 2013 and found utility as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content.
Earlier this month, Marcus asked holders of Dogecoin to return to a tipping culture to widen the community base, noting that the altcoin’s use as a tipping currency back in 2014 helped it to “spread wildly.”
The Dogecoin community has been involved in several public news stories over the past few years, including launching a fundraising effort to help send the Jamaican Bobsled Team to attend the 2014 Winter Olympics in Sochi.
The altcoin has shot to prominence this year, in major part due to endorsement from Tesla Inc. TSLA CEO Elon Musk. The meme cryptocurrency’s year-to-date gains are an impressive 6,788.7%.
Price Action: Dogecoin is down 2% during the past 24 hours, trading at $0.3281 at press time.
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