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Dogecoin: Inside the meme that became an $80 billion cryptocurrency


June 22, 2014. Jackson Palmer, a self-identified "average geek," is high in the stands at a Nascar race at the Sonoma Raceway in California. He is an Australian man in his 20s. He has zero interest in racing. Never in his wildest dreams did he imagine it would come to this.

He surveys the scene.

Below him: a tremendous crowd. The overwhelming blare of engines. Hurtling round at tremendous speeds: the #98 Moonrocket, a high-performance racing car. No different from the other cars on the track, except for one crucial detail.

On the bonnet of the car: a dog. A Shiba Inu, more commonly known as a "Shibe," the dog made famous in the Doge meme that was popular in 2013.

Emblazoned on top: the word "DOGECOIN" in all caps. Below: "digital currency".

Palmer describes the situation using words like "crazy," "surreal" and "nuts." He remembers this moment as a ...


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