Dogecoin currently has the fifth largest market cap out of all the cryptocurrencies, valued at approximately $39 million. The Doge community has been putting this value to good use. Shibes have become known for their kindness: they have completed many charity projects, including raising $25,000 worth of Dogecoin to send the Jamaican bobsled team to the Sochi Olympics, over $20,000 worth to build two water taps for Kenyan communities, and over $6,500 worth to pay back stolen funds to fellow Shibes following the hacking of a popular online wallet.
Dogecoin’s most recent crowdfunding effort wasn’t like most of their other projects, in that it wasn’t for charity. They raised over 67,500,000 Dogecoin ($55,000) to send NASCAR driver Josh Wise to the NASCAR Talladega race on May 4th (as previously written on CCN). Shibes raised the money because Wise didn’t have a sponsor. Wise has been called an “underdoge”, a play on the word underdog.
Raising the money didn’t take long: the community’s contributions surpassed the goal in just a few days. This was largely due to a mistake by Moolah.io (an online payments platform for cryptocurrencies) founder, Alex Green. Green meant to donate 2,000,000 Dogecoin ($1,500) to the NASCAR cause, but accidentally added an extra 0, causing him to donate 20,000,000 ($15,000). This spurred reddit user dogefreedom to contribute another 20,000,000 Dogecoin.
The project, dubbed Doge4Nascar, has been the center of discussion in the Dogecoin subreddit over the past few weeks. Possible designs for the wrap of the ‘Dogecar’ were submitted on the subreddit, with the winner being decided by a community vote.
The most recent excitement on the subreddit is the discovery that Wise and the Dogecar can compete in two more races following Talladega, if Wise amasses enough votes in a NASCAR fan voting contest. Shibes have been encouraging each other to vote hundreds of times, as there is no limit. Multiple Shibes are planning to camp at Talladega to support Wise and raise awareness for Dogecoin. As the event gets closer, the excitement heats up. Wise recently hosted an AMA (Ask Me Anything) where he answered fans’ questions.
Wise even wants to start mining Dogecoin, and the community wants to help him get started. He believes he has the same chance as anyone else at winning Talladega. He’s becoming a Shibe too — he now has his own Dogecoin wallet.
Good luck Josh! Or, as we like to say in the Dogecoin community, very luck.
Featured image from Wikimedia.
Last modified (UTC): April 20, 2014 7:21 AM