Palmer and programmer Billy Markus created dogecoin in 2013. The cryptocurrency’s name is derived from the ‘Doge’ meme, whose many iterations usually feature a Shiba Inu dog surrounded by Comic Sans text. Palmer has said that he wanted dogecoin to draw positive attention to cryptocurrency and to encourage innovations with the technology by making it accessible and appealing to new users.
In 2015, Palmer announced that he would take an “extended leave of absence” from the cryptocurrency community, calling the community “toxic” and criticizing it for being “white male dominated” and marred by “buzzword-filled business ideas.”
In 2018, Palmer said he had returned to the industry to help educate friends and family members interested in investing in cryptocurrencies.