The cryptocurrency world has just got crazier. Dogecoin was created as a joke in 2013 by Billy Markus and Jackson Palmer. Today this currency is worth more than $60 million with over 113 million coins being mined and circulated currently. This is a peer to peer, decentralized currency letting you send money online wherever needed. Dogecoin is represented by a Shiba dog and has the Ticker symbol DOGE.
Though this cryptocurrency has been belittled in the past, it can withstand generic market crashes. Dogecoin’s price has also steadily being growing over time, even though the original owners have almost abandoned it.
Here are 3 reasons Dogecoin is special making it an attractive investment option
No kind of hype affects Dogecoin
Those of you who are a keen observer of the crypto markets would know that rise and falls of Dogecoin is not according to the hype that is created in the market, this makes it a truly stable cryptocurrency.
Dogecoin rewards its users. Whenever a user of Dogecoin posts informative content to any entertainment based website, Dogecoin has the provision to tip that person creatively for whatever he/she has done. This is exactly opposite to other social media sites like Facebook and Twitter where you only get recognition for whatever you post.
Starting with a meme platform, Dogecoin has now become a real world solution provider for cryptocurrencies. Dogecoin is mineable, it is a cryptocurrency which has the lowest circulation in the market. With the passage of time, the supply of Dogecoin is expected to diminish and the value of the coin will be decided by its scarcity, just like other cryptocurrencies.
Ideal for newbie investors, seasoned ones who dislike volatility
As mentioned earlier, Dogecoin is perfect for people who want to invest in cryptocurrencies but dislike the volatility associated with it. This includes newbies and seasoned investors who want to invest in cryptocurrencies but with lesser risk involved. In fact, Dogecoin has got noticed by Robinhood, a mobile trading application which has labelled Dogecoin as an important tradable asset.
According to a study conducted by CoinMarketCap, DogeCoin ranks fifth in terms of circulation of its coins. Many users prefer Dogecoin due to its relative ease of use and stability during market crashes.
The Market Performance of Dogecoin
The main investors of Dogecoin seem to be young traders and the tight knit community around Dogecoin. Currently, Dogecoin’s value is $0.00305518 with an increase in value of 191 percent since the last one year. Despite the overall fall in the cryptocurrency markets, Dogecoin has managed to gain a respectable gain in value over time. This is a good indicator of its hidden potential and the entire Dogecoin community has something to feel good about with this rise in value.
Ever since the creators of Dogecoin have abandoned this virtual currency, improvements in the system and new products relating to Dogecoin can help people. Some people who are already invested in the cryptocurrency market, can Exchange Dogecoin To Bitcoin whenever needed. With the future of Dogecoin looking bright, there is no doubt it is going to be one of the best ways to park your money for the future.