Dogecoin (DOGE) co-creator Billy Marcus has asked holders of the meme cryptocurrency to return to a tipping culture to widen the community base.
What Happened: Marcus took to Twitter on #AcceptDoge day to advise Dogecoin holders to get back to tipping, noting that the altcoin’s use as a tipping currency back in 2014 helped it to “spread wildly.”
Dogecoin holders could send small amounts of DOGE to friends, content creators and others to help expand the user base, Marcus, who goes by the username Shibetoshi Nakamoto on Twitter, said.
Back in 2014, Dogecoin spread wildly because it was used as a tipping currency – the reddit tip bot made millions of doge transactions.
I’d like to see the community to get back to that culture. Tipping is one of the best use cases. It adds new users, spreads 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 tipping bots exist for Reddit and Discord, a tipping bot for Twitter would help, he noted.
Marcus also said that Dogecoin transaction fees will reduce in an upcoming core release and believes brokerage platform Robinhood will offer cryptocurrency wallets at some point.
Why It Matters: Dogecoin was created mainly as a joke in 2013 and found utility as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content.
The altcoin has shot to prominence this year, in major part due to endorsement from Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk. The meme cryptocurrency’s year-to-date gains 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 is now in sixth place in terms of market capitalization.
Price Action: Dogecoin is up 5.6% during the past 24 hours, trading at $0.3549 at press time.