Cryptocurrency is ruling the world, and many businesses and people are keying in to gain the benefits. There are numerous coins, but some are popular, especially Dogecoin, because of its accessibility and affordability. Dogecoin started as a meme coin, but the joke is on those who didn’t believe the prediction. The level of traction from the crypto industry on the coin is incredibly huge, marking it as the next component in crypto.
The traction is the reason for its popularity, as it ranks number ten among cryptocurrencies, and the Dogecoin price prediction is $0.103069, with a market capitalization of over $14 billion. The dog coin is one of the most invested, talked about, and conversation cryptocurrencies, which is why this article has put together seven exciting things you might find new about the dog coin.
What is Dogecoin?
Dogecoin is putting a smile on people’s faces. It purports by accident with the feature of a Japanese dog breed, Shiba Inu, as its logo. It is a blockchain open house, peer-to-peer cryptocurrency coined from Litecoin. The coin works on notable features like the Scrypt algorithm, low prices, and an extensive supply network.
1. Large fan base
The dog coin has one of the largest fan bases on social media, including Twitter, Reddit, and, recently, Tiktok. However, the popularity is far from the end, as the social media excitement and buzzing keep the coin growing. Crypto aims to be fair in the market, increasing its value a thousand-fold.
These social media platforms have supported the coin from its creation. They showed massive interest in promoting the coin, making it more extensive, and leading to its success. Tiktok, a recent member, has also accumulated many fans through a video posted in 2020. The video was a 10-second video, requesting over 800 million Dogecoin users to invest $25 to increase its value to $1. The video has accumulated over 800K views, while the coin’s value has increased by 2000%.
2. The history is Unique
Dogecoin is a unique coin in name and history among other cryptocurrencies. The coin originated from a successful and infamous coin, Doge memes, in 2013. In addition, the logo is a native Japanese hunting dog breed, small in size, known as Shiba Inu.
The introduction of the dog logo by the meme coin instigated the dog logo on other coins. A popular coin with a dog logo mimicking Dogecoin is Corgi Token using a Corgi dog breed. The coin is based on the Ethereum blockchain, using a decentralized community system. The dog coin market value is rising significantly among cryptocurrencies.
3. Extensive Supply
Dogecoin is available worldwide, and the supply supersedes many popular coins like Bitcoin. The coin has a daily increase of 14.4 billion; every year, more than 5.5 billion accumulates in the market. The coin was formed out of humor, but the result is positive and surprising. The creator wanted to create something funny by releasing over 120 million into the market. As of now, there are more than 140 billion Dogecoins on the market. In essence, the actual number in circulation is unpredictable.
4. Celebrities on Dogecoin
The supporters of the coin are everyday people and more of celebrities. The coin has many celebrities believing in its rise, especially in the entertainment world. It has celebrities like Snoop Dogg (musician/rapper) and the biggest business name, Elon Musk, aka the Dogefather. Another celebrity is Kevin Jonas, who introduced the slogan “All I’m saying, Doge, and Josh Wiss, a NASCAR driver.”
5. Business in Dogecoin
Dogecoin is popular because many organizations have included it as a dominant coin for transactions. For instance, many online and offline vendors accept the dog coin for payments because it is reliable and trusted. The meme coin is among the payment methods of many industries, like online casinos. Furthermore, other gambling sites accept the coin. Some industries use Dogecoin as a payment method; trading, sports betting, investment, online stores, and other e-commerce sites. However, the courage people summoned to use the coin resulted from the hype and tweet from Elon Musk.
6. Elon Musk, king of Dogecoin
The dog coin is the work of Elon Musk, aka the Dogefather. The entrepreneur and businessman acclaim the coin as the cryptocurrency for the masses. He has also appeared on many live shows to talk about the explosion of Dogecoin in the industry. Moreover, he is considered the honorary promoter of Dogecoin, especially on Twitter. Lately, the businessman has emphasized cryptocurrency as his favorite and has recommended it to the public. He is a strong and massive investor in Dogecoin.
7. Dogecoin is easy, affordable, and convenient
The affordability of Dogecoin is another reason it is popular. The coin is affordable because the coins in circulation are high and surplus. The system has cheap transactions with over 150 billion coins on the market. People with fewer funds can afford this coin with no sweat and less sacrifice. This attracts people making it easy and notable as the people’s coin or people’s crypto.
Indeed, Dogecoin is a rising call with many interesting features worth. While it is yet to get to the level of Bitcoin and others, it has a series of promising features that will make your investment worth it. The points mentioned above should be able to help you learn all the top-tier exciting things about Dogecoin.