Dogecoin was launched in Dec. 2013 with the intention of creating a digital medium of exchange that could be used more easily and widely than Bitcoin. It has become an increasingly popular way for people to show their appreciation for one another in social media circles by “tipping” in Dogecoins.
STILL DON’T UNDERSTAND BITCOIN? READ CONSUMERIST’S GUIDE TO BITCOIN BASICS
The coin also features the Shiba Inu dog from the well-known “Doge” meme that gives the currency its name.
Back in January, the Dogecoin community banded together to amass enough cash to send the much-loved Jamaican Bobsled Team to the Sochi Winter Olympics in Russia.
“Josh is an underdog in the NASCAR world,” the campaign’s organizer, Kevin Dusenberry, tells Mashable. “Dogecoin is an underdog in the crypto world. It was a match made in heaven.”
So when folks on the Racing Subreddit noticed that NASCAR driver Josh Wise still lacked a sponsor, the Dogecoin and racing communities crowdfunded the $55,000 needed to get the currency’s brand on Wise’s car.
Wise celebrated the news yesterday on Twitter:
The driver will be doing an Ask Me Anything session at 9 p.m. tonight on the Dogecoin Reddit page.