Get to know Dogecoin, this year’s highest-yielding dog coin. Why do people like to trade?
For those who love investing in digital assets or ‘cryptocurrency’ at this time, no cryptocurrency is hotter than the ‘dog’s coin ‘Dogecoin. It is a Shiba Inu coin as it is a symbol of the doge coin. Its mentioned the price of cryptocurrencies in many places. The currency dropped as if the bubble burst last weekend. But there was only one coin that saw a remarkable rise in price. Counter to other coins like nothing happened this coin is Dogecoin.
As of today the price of Dogecoin continues to soar tirelessly, as, at 4:00 PM PST, Dogecoin is trading at $0.375, up 24.16% from the previous day as in CoinMarketCap. At this point, there may be a question: What properties does Dogecoin have? Who created for what? THE STANDARD WEALTH news team would like to take you to get to know the coin.
Dogecoin, created by Jackson Palmer and Billy Marcus, referred to them as ‘Shibatoshi Nakamoto’, a name coined to mock the creators of bitcoin called ‘Satoshi Nakamoto’. Dogecoin was developed in 2013, about five years after Bitcoin was born. The person who developed this coin said it was made for fun, freedom and satire. At the same time, I want to make this coin more accessible to most people than Bitcoin.
Rather than other cryptocurrencies, Buy Dogecoin because it has a limit on the number of coins that can be created and mining the supply which can continue to buy in markets. While other coins, such as bitcoin, are limited to a total amount of 21 million coins.
An article on the recommended website states that Dogecoin is an easy-to-use cryptocurrency. It is a decentralized platform that allows exchanging coins on the P2P network just like any other coin. The coin’s technology uses other crypto-currency-based technologies such as the Scrypt Proof-of-Work protocol. It is originally from Litecoin, meaning that Doge cannot be mined by ASICs and can only be mined by computer hardware. Unlike Litecoin, where Dogecoin’s time is 1 minute and Litecoin 2.5, it’s faster to do business and verify.
In addition, billing for transactions such as spending or money transfers on Dogecoin charges users less than other coins. Dogecoin has built a reputation as a quirky tipping system; some sites like Reddit use Dogetipbot or other services where users can refer others to Dogecoin.
Although this coin was created for mockery, satire, and amusement, with the cuteness of the Shiba Inu dog Instead, the currency is gaining more and more attention from the general public. As a result, the coin’s value continued to increase, and it doesn’t care how much future coin volumes will increase.
Looking back at the price of Dogecoin, the price has been rising hotly since the beginning of 2021. Dogecoin was still trading at $0.0045 late last year but recently hit a new high of $0.4498 on April 16 come or has been adjusted up to about 9,895%. It’s undeniable that one of the people who made Dogecoin so famous and popular was Elon Musk, the billionaire and well-known businessman who founded Tesla, who tweeted out on his personal Twitter account continuing to comment on Dogecoin. And almost every time Musk tweeted about Dogecoin, the price of the little doggy has almost always been hot.
The founder and director of Stang Corporation Limited told the STANDARD WEALTH news team that Dogecoin is becoming more and more popular among the people. They have been doing All-Time High recently; moreover, the coin has the highest yield from the beginning of the year to the present compared to other coins.
As for the distinguishing feature of Dogecoin price is a very accessible coin, and it doesn’t look too serious about learning compared to other coins like Bitcoin and Ethereum. And the cuteness of the Shiba Inu dog, which is the coin’s logo, makes the general public view that this coin is more accessible than other coins.
However, the fundamentals are not very clear and if you look at the number of trading coins mentioned above, Most of them are short-term speculation. There are not many people who hold long-term investments.
“Personally, I think the price of Dogecoin is rising during this time. Much news says that Dogecoin is being unleashed in an attempt to keep the price. Everyone has this coin. I’m trying to figure out where the foundation is, where it came from, and whether it’s Musk’s frequent tweets, but nevertheless, Dogecoin has become the most expensive coin of the year. “
As for the case of many people who think that Dogecoin does not have a limit on the number of coins like Bitcoin. There may be a risk in terms of that price; the expert said in the number of cryptocurrencies that have come out more than 9 thousand dollars, there are quite a few that are not limited to the number of new coins released as well as Ethereum. But you can see that the price of ethereum is also rising quite high. Therefore, the theory is that an unlimited number of coins cannot be scaled up. So it’s not a very accurate theory.
Despite the price of Dogecoin, it has been steadily rising over the past few months. But no one can guarantee in what direction the coin price moves next? Therefore, investors should be careful when investing.