Considered as one of the most iconic memes of the internet, 'Doge'- the image of an excited looking Japanese Shiba Inu has sold as an NFT (non-fungible token) for a whopping sum of $4 million (Rs 29.999 crore). This price makes Doge the most expensive NFT meme in history, as per reports. The meme turned into NFT was put up for sale last week by Atsuko Sato, owner of the viral dog. After which several offers were made for the ownership of Doge, but the final deal was cracked at an offering of 1,696.9 Ethereum, which is roughly equivalent to $4 million.
History of Doge
Doge has its origin in the series Homestar Runner. In a 2005 episode, the central character calls another of the characters his "Doge". Then in 2010, Sato shared an image of her dog Kabosu who sat with crossed legs and a confused expression on his face. While uploading the simple image, Sato would not have thought that it will become so iconic in years to come.
Kabosu's picture soon took the internet by storm and became a popular meme. The famous name associated with Kabosu's picture was given to it by one of Reddit users.
The popularity of Doge on the internet reached a different level when a group of internet users took it as an inspiration to create a cryptocurrency 'Dogecoin'. Dogecoin was created by Billy Markus and Jackson Palmer as a joke making fun of the wild speculation in cryptocurrencies back in 2013. The coin was officially launched on December 6, 2013.
What started off as a joke is now a big digital asset and is touted as the future of cryptocurrency. 2021 has been a great year for Dogecoin and it has a seen sharp rise in its value.
Despite the low market capitalization, Dogecoin is one of the most talked-about cryptocurrencies globally. It often finds mention in Tweets of Tesla CEO Elon Musk who in past has expressed his preference for Dogecoin.