# What You Need to Know

## A Quick Look at Dogecoin

Dogecoin (DOGE) launched in December 2013 by two software engineers who wanted to create a payment system via a sarcastic, (mostly) value-less meme coin. 

Although DOGE started as a joke on cryptocurrency, it being based on the Scrpyt algorithm allows for an easy and quick transaction process compared to other conventional blockchains.

This in and of itself is one of Dogecoin's ultimate strengths. 

While Bitcoin's Ordinals inscription costs skyrocketed to well over $100 each, Dogecoin - even with greater volume - doesn't cost more than a handful of cents.

<figure><img src="https://4235942151-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FvMU4JVxsGUwG0x4f6Nab%2Fuploads%2FfLvwgcLPpHbDXz9EwZiA%2F0x0.png?alt=media&#x26;token=9130eb93-9336-4abc-aba1-c388715a9785" alt=""><figcaption></figcaption></figure>

And this difference shows.&#x20;

As of August 8th, 2023, Doginals have out inscribed Bitcoin Ordinals, Litecoin Ordinals, Ethscriptions, and Bitcoin Stamps - ***combined***.

<figure><img src="https://4235942151-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FvMU4JVxsGUwG0x4f6Nab%2Fuploads%2Fq6Rq7XvdhJ8dmfSio17f%2Fimage.png?alt=media&#x26;token=08640928-236a-4e2a-9fe9-8647efcebfbc" alt=""><figcaption></figcaption></figure>

***

## The X-Factor

It's undeniable: Elon Musk has become a rallying point around Dogecoin, both as an asset and as a meme. This (dare we say) X-factor leaves an intangible upside to the Dogecoin ecosystem.

Tesla accepts Dogecoin for payments. Twitter (now 'X') already once had it's logo changed to the Doge face. Elon went on SNL and shilled Dogecoin to the American populace.

One of the most popular, powerful person in the world is in Doge's corner - and like him or hate him - a single decision can provide massive upwards interest, price movement, and adoption.&#x20;


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