Dogecoin Holders Should ‘Tilt’ Wildly To Help Expand Community Base, Says Co-Creator
Dogecoin (DOGE) co-creator Billy Marcus called on holders of the cryptocurrency meme to return to a tipping culture to broaden the community base.
What happened: Marcus took to Twitter on #AcceptDoge day to advise Dogecoin holders to revert to tipping, noting that the use of altcoin as a tipping currency in 2014 has helped it “spread wildly.”
Dogecoin holders could send small amounts of DOGE to friends, content creators and others to help expand the user base, Marcus, who calls himself Shibetoshi Nakamoto, said on Twitter.
In 2014, Dogecoin spread widely because it was used as a tipping currency – the cutting edge reddit bot performed millions of doge transactions.
I would like to see the community come back to this culture. Tip is one of the best use cases. It adds new users, streams DOGE, and is fun.
– Shibetoshi Nakamoto (@ BillyM2k) June 1, 2021
See also: How to buy Dogecoin (DOGE)
Investors could use user friendly tipping bots for different platforms. While there are tipping bots for Reddit and Discord, a tipping bot for Twitter would help, he noted.
Marcus has also said that Dogecoin transaction fees will be reduced in an upcoming basic release and believes the Robinhood brokerage platform will offer cryptocurrency wallets at some point.
See Also: Dogecoin Heading For Market Cap Below $ 1 Billion, Says Veteran Crypto Investor Barry Silbert
Why is this important: Dogecoin was created primarily as a joke in 2013 and has proven to be useful as a tip system on Reddit and Twitter to reward the creation or sharing of great content.
Altcoin has gained prominence this year, largely thanks to the approval of Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. The cumulative gains for the year of the cryptocurrency meme are an impressive 7700%.
However, the Shiba Inu-themed cryptocurrency is down 52.2% from its all-time high of $ 0.7376 reached on May 8 and now sits in sixth place in terms of market cap.
Price action: Dogecoin has risen 5.6% in the past 24 hours, trading at $ 0.3549 at the time of publication.
Read more: Dogecoin Co-Creator Says 99.9% of Crypto Market Driven by ‘Bigger Fool Theory’