CrypTalk (03): Dogecoin, The First Dog On The Moon

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Avatar for Jane
Written by
3 years ago

January 30, 2021

The DOGE community go wild yesterday when the its price spikes to its ATH. After r/WallStreetBets posted about DOGE on Reddit, it gained the attention of the crypto enthusiasts and the price continued to surge heading to the moon. Just like the post said,

"first dog on the moon."

At the time of writing (January 29), DOGEcoin price reaches its ATH at $0.088700 and was almost 900% up in the last 24 hours. The coin outplaced Chainlink and got its #7 rank on CoinMarketCap. It has market capitalization of $9,650,004,022, trading volume of $26,482,647,178, and a circulating supply of 128,136,378,598 DOGE.
Should we invest in Dogecoin? Let's take a look here.

What is Dogecoin?

Photo credit: tokenmantra.com

Dogecoin (DOGE) is an open-source digital currency founded by Billy Markus and Jackson Palmer and was forked from Litecoin in 2013. It was created to reach a wider demographic and to make the crypto world a bit more fun. Since then, Dogecoin becomes the subject of memes, and this popular Shiba Inu "Doge meme" has become the talk of the town and now onboarding more enthusiasts on the DOGE ship. Even the CEO of TESLA, Elon Musk, posted on Twitter that he is the former CEO of Dogecoin refering to the coin as his favorite cryptocurrency.

Dogecoin differs from Bitcoin's PoS and one is by using Scrypt technology. There is no limit to the number of Dogecoin that can be mined because the total supply is uncapped. Moreover, Dogecoin has a block time of only 1 minute. You can either mine Dogecoin solo or by joining a mining pool.


What Can Dogecoin Be Used For?


Dogecoin is used as a tipping system in social media platforms such Reddit and Twitter to reward its users from creating and sharing quality content. You can get Dogecoin from faucets or from participating in a community that uses cryptocurrency. Some merchants are also accepting Dogecoin because of its affordable price, low fee, and fast processing which is suitable for everyday transactions.Β 

The cryptocurrency has been involved in many projects and in 2014, it supported a Jamaican team to compete at the Olympics in Russia and launched a campaign to raise $50,000. It sponsored Shiva Keshavan, an Indian athlete and Josh Wise, a Nascar driver to compete at the event in a car featuring the dogecoin mascot.


Will Dogecoin value continue to increase from cents to $1?

The tech billionaire, Elon Musk has influenced the continuous increase of Dogecoin's value. His consistent support to Dogecoin has also driven up the stocks of companies such as GameStop and Signal Advance. Moreover, the community is also consistent in making campaigns through social media platforms like TikTok and Reddit to drive Dogecoin price to $1.

The higher the demand, the higher the value. That means DOGE's value will increase as people find more ways to use it like online tipping. And based on its current value, it is not possible that a few weeks from now, its price will reach $1 which has been a long-time goal of the Dogecoin community.

Is Dogecoin a good investment?

Dogecoin has managed to remain somewhat valuable over the last seven years and it gained more than 130% in 2020 and 45% in the first month of 2021 outperforming Bitcoin that only gained 6%. The coin may not be as popular as other Bitcoin and other cryptocurrencies, but many investors are seeing it as a good investment.

The power of Reddit seems to be working now because just a few days after the Shiba Inu "DOGE meme" got viral, the Dogecoin's price soared high from $0.004846 at the start of January to its ATH price of $0.088700 yesterday, January 29. It gained almost 900% in the last 24 hours. Lucky are those who invested in Dogecoin during the start of the year.

The crypto market is always volatile where thousands of crypto compete for attention with several campaigns on social media. Dogecoin just successfully caught the attention of many crypto enthusiasts. And affordable altcoins such as Dogecoin could benefit small investors following the crypto trend.

But always remember that before investing in any cryptocurrencies, consider the risks and do your own extensive research.

Disclaimer:

I am not a financial advisor and this 
article is for educational purposes only.
Always make your own due diligence when 
investing in cryptocurrency. 
Any investment involves high risks, 
so do not invest more than what you 
can afford to lose.

Thanks for reading @Jane

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CrypTalk (01) Should We Link To Chainlink?

CrypTalk (02) Connecting The DOTs Of Polkadot

Cryptocurrencies I Want To Include In My Portfolio

The importance of Diversifying Crypto Portfolio

Earn More Crypto Without Trading

Lead image from publishox by Roberto D.

After writing this I just thought, what if @elonmusk considered adopting Bitcoin Cash too and tweet about its benefits, He might be able to push BCH to the moon. πŸ˜…

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3 years ago

Comments

I know doge but i was never interested in buying. I could mine for it though. I'll think about mining it instead

$ 0.02
3 years ago

Yeah mining is great.. I will buy some once it go dipper

$ 0.00
3 years ago

i know doge before bch but seriously i didnt give it more regards i could have earned in exchanging.cc but thank goodness i shared it on my whatsapp status and i got like 10 referral then , so through my referrals i earned over 100 doge. dogecoin has risen from the long hibernation. lol.

$ 0.02
3 years ago

I also know a site where you can automatically earn doge. No tasks at all just let the site open.. Here https://digitask.ru/?r=DSDQU4JKMi3fxfFUzjN9MjPfWZWrSbKhnM

$ 0.00
3 years ago

is it a good idea to buy?

$ 0.00
3 years ago

[deleted]

$ 0.00
3 years ago

If the coin is profitable.. Then yes

$ 0.00
3 years ago

thanks , ill try it anyway

$ 0.00
3 years ago

Ehh, kaya pla nakikita ko sa noise.cash yang si Elon, dati palang siyang ano ni Doge πŸ€”. Pero sayang talaga wala akpng pang buy nyan, naka salang kasi kay bch umg sakin 🀦. Laki sana ng nagain 😡

$ 0.02
3 years ago

Nope.. Tweet lng nta yun.. Hndi nmn dati.. Fav crypto nya kc si doge . ngayoj nagchange bio to BTC.. Kya ayun tumaas bigla price ng btc

$ 0.00
3 years ago

lol this got me checked my cctipbot as I got tsk tsk 6 Doge left lmao! hehe we will also rise as Bitcoin Cash Community. I am a believer and strong supporter of our Cause. if coins's pump by simply having Elon tweeted it, hahaha alis nalang ako sa earth, punta na ako moon hehe. have a good day sissy! This was a crazy moment in the twittersphere, i guess

$ 0.02
3 years ago

It was.. Unfortunately, I don't have one.. 😭 I'll gonna buy some doge once it goes dipper

$ 0.00
3 years ago

Go go doge coin lol

$ 0.00
3 years ago

Sayang sinell ko last week. Profit na sana ng almost 100$ πŸ˜ͺ

$ 0.02
3 years ago

your a dogecoin bigfish🐑 then? hahaha,

that means you got a few thousand kabayan πŸ‡΅πŸ‡­ πŸ˜†

$ 0.00
3 years ago

Laki.. Magkano lahat nun? Sayang

$ 0.00
3 years ago

The coin that comes from a joke... I only have 10 doge... 🀣🀣🀣

$ 0.02
3 years ago

Ako nada.. Bibili ako pag bumaba pa price

$ 0.00
3 years ago

Yown pag may pambili. Siguro sa coinpot ko may laman. Pero nonwithdrawable pa. 🀣🀣🀣

$ 0.00
3 years ago

Coinpot ipon ko dati kinovert ko to bch... πŸ˜…

$ 0.00
3 years ago

Convert ko nga rin sakin...

$ 0.00
3 years ago

Dapat pala nung nag 0.02 dollars si Dogecoin, yung kalahati lang yung pinambili ko pero binili ko lahat. Tapos naghit pa ng 0.04 sayang

$ 0.02
3 years ago

Ko nga ni isa waley 🀣

$ 0.00
3 years ago

Dame ko nakita sa noise.cash aboit sa pagtaas ng value ni doge, pero parang bumaba din sya agad, tama ba?

$ 0.02
3 years ago

Gnun tlga te.. After bullrun expect the plundge.

$ 0.00
3 years ago