What is Dogecoin: The first cryptocurrency bitcoin was launched in 2009. The currency based on the Blockchain is called Cryptocurrency. Cryptocurrency is a currency that cannot be seen or touched, but transactions can be done through it. The success of Bitcoin led to the creation of LiteCoin and Ethereum. Like all these currencies, Dogecoin is also a cryptocurrency, which was launched in 2013.
This article will give you complete information about Dogecoin. What is Dogecoin, how did it come into existence, what is the value of Dogecoin? How to invest in Dogecoin or where to buy Dogecoin currency, what is the future of Dogecoin? Go through complete article and share it with your friend and others. If you want to ask anything about currency, you can ask in the comment box.
What is Dogecoin?
Dogecoin is a cryptocurrency that was launched in 2013 to simplify the transaction process. The goal of making this was to make online transactions or online goods and services payments to be done easily, in which there is no middleman like any bank or any organization. There is little or no charge at the time of payment. It is an open source digital currency.
Bitcoin was not accessible to many people, so this coin was created so that more and more people can use it. The unofficial tagline of Dodgecoin is “Do Only Good Everyday”.
Dogecoin Founder | When It was Created
Dogecoin was launched on 6 December 2013. The co-founders of this currency are software engineer Jackson Palmer and software engineer Billy Markus. Billy Markus is also known as Shibetoshi Nakamoto.
Jackson Palmer has worked in companies like Oregon and Adobe, and Billy Markus has been a part of the IBM company. The Dogecoin Foundation is a non-profit organization created to work on the Dogecoin project.
What are Some DogeCoin Facts?
The listed below are some of the vital facts of Dogecoin, you should know about:
(a) It is a fully decentralized digital currency. Here investors can do direct transactions among themselves. They do not require any central or central exchange/company.
(b) The Dogecoin native token is Doge.
(c) No maximum supply of Dogecoin, that is, it can be mined in any quantity.
(d) The dogecoin has been created following popularity of meme coin i.e. it is a coin based on internet meme. Its logo has a picture of a Japanese breed (Shiba) dog.
(e) It is an open source digital currency.
(f) It was forked from Litecoin.
(g) The CEO of Tesla, Elon Musk has tweeted many times that Dogecoin is his favorite currency.
(h) Recently, his tweet over the twitter has boosted the price of Dogecoin. Basically, it came after Elon Musk took over the twitter.
(i) Dogecoin has a block time of 1 minute.
Dogecoin Price Prediction 2022
When DOGE was launched in 2013, its price was $0.002. Within two weeks its value increased to $0.0023. Not less than a year, the regulating company launched Crypto Tipboard in 2014. It was launched to attract users who were not used to with DOGE and knew nothing about it.
Then for 2-3 years the price of Dogecoin remained almost stable. The investors experienced the rise of Dogecoin price in 2018. Doge coin reached its new peak and by this time its market capitalization crossed $1 billion.
In 2019 and 2020 it went slowly but in 2021 the world’s richest man Elon Musk tweeted that I will take DOGE to space. After that its value started increasing very rapidly.
From time to time tweeting in favor of this currency by Musk, its value started increasing in an amazing way. It jumped 9800% in 2021 and also reached its all-time high of $0.074 in May 2021.
Dodgecoin was the currency giving very good returns to investors in 2020 – 2021. It is said that the reason behind its price increase is the tweets made by Elon Musk, due to which the price went up 1000% and reached its highest value.
But as soon as the price started falling, then this currency is trading 90% below its highest price. Only a few people have a large amount of this currency. Considering all this, according to experts, Dogecoin is like a bubble that can burst at any time. Crypto experts are not seeing much potential in this currency.
On the other hand, as soon as Elon Musk has taken over Twitter, the value of Dogecoin has seen an increase. Recently (October 2022 (Dogecoin news)), 1470 crores of Dogecoin was transferred to unknown wallet. Due to this it is also being said that now the good days of Dogecoin have come.
In the coming times, the Dodgecoin Foundation will bring new technologies to its investors. It is wisely advised to the users to do complete technical and other analysis before investing on either Dogecoin or Bitcoin.
Where to Buy Dogecoin? | How to Buy Dogecoin?
Dodgecoin has now become a popular currency all over the world and is available on many exchanges. To invest in Dogecoin, here are some of the crypto exchanges through which one can invest in Dodgecoin, which includes but are not limited to Binance, Coin switch kuber, coinbase, Kraken, WazirX, ZebPay and so on.
While you buy Dogecoin on particular exchange, you will have option to buy the crypto with their country’s currency or other currency. Here are general ways to buy Dogecoin from a reputed exchange.
(a) You need to first register on the exchange which you have selected.
(b) Verification is one of the most important steps before transacting cryptocurrency. Therefore, you must verify your mobile number and e-mail id through OTP.
(c) Following the step, you would need to deposit the funds in the Wallet of the Exchange.
(d) You can deposit funds through the payment methods that have been instructed over.
(e) Select Dogecoin from the list of cryptocurrencies on the exchange and buy the number of coins you wish.
Questions Mostly Asked About Dogecoin
Q. What is Dogecoin used for?
Ans- Dogecoin can be used for payments and transactions for services and products.
Q. Is Dogecoin a good investment?
Ans- It totally depends upon you what your requirement is. Before investing in Dogecoin, investors do complete research on its current status and where it will go in the coming years.
Q. Can Dogecoin go up to $1?
Ans- Yes! Dogecoin can go up to $1, which requires so much to go in the right direction. However, Dogecoin’s all-time high price was $0.97, so it could reach $1 in the coming years.
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