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Directly hit people like vanity pain point, give you a go to Vietnam with hundreds of millions of dollars to buy an egg to throw a thousand gold feeling. Then there's the opening image of the Budding Japanese fire dog and the spread of grassroots culture, and overnight DogeCoin became a new addition to mainstream currencies such as Bitcoin Ethereum, and it did bring a bit of dynamism to the dreary currency circle.

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Members of the Dogecoin community generously donated a Doge-themed NASCAR car and sent a real Dogecoin to the moon. The community has also donated Dogecoin to charity, sponsoring wells dug in Kenya to provide clean drinking water. These types of behavior make the Dogecoin community part of it, which in turn leads to Doge's unlikely position in the top cryptocurrencies.

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There are certainly more reasons why Dogecoin is so popular. Technically, Dogecoin is actually a faction with Litecoin, which is based on the Scrypt algorithm and, like Litecoin, is easier to trade than Bitcoin, and they have more numbers, with Dogecoin digging up to 100 billion, compared with 21 million bitcoins. Palmer also noted that Dogecoin is not like Bitcoin, where people don't get involved just for the sake of speculation, which is a way of sharing and thanking.