Sirwin
Sirwin

E&S (Meme-Token Edition): DOGE, a cryptocurrency beloved by Shiba Inu around the world


Good afternoon Publish0x community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.

I published this article moved a few days to leave the right visibility to the contest!

In this article we talk about more features of Dogecoin!

In the last E&S article I introduced you Dogecoin (DOGE) and I said that is the “meme-token” that in a short time has reached a market capitalization exceeding $8 billion. The cryptocurrency is based on the famous Shiba Inu dog meme that has been raging on social media for years, and its story is very peculiar. But while it may have initially seemed like a joke, over time the project has become very serious, falling among the most successful cryptocurrencies

Is it worth investing in Dogecoin?

Dogecoin is used to avoid the expensive fees charged by cryptocurrency exchanges. For example, if someone wants to withdraw money from an exchange, it will be an expensive transaction if Bitcoins are chosen. Therefore, traders may decide to exchange their Bitcoins with Dogecoin first and then withdraw their money with this currency. Most impressive is the fact that Dogecoin is also a favorite of cryptocurrency exchanges, with numerous possibilities on some of the best services in the world that guarantee this activity.

Pro & Cons

As mentioned earlier, some of Dogecoin's main advantages involve lower fees and its transaction speed. It has a high trading volume as it is one of the most popular cryptocurrencies around. It is usually one of the best choices for newcomers to cryptocurrency investing, mainly due to its ease of use. Over its lifetime, Dogecoin has proven to be one of the best coins on the market and is usually associated with nonprofit organizations. The digital currency has probably the most devoted and responsible user community. Dogecoin has to do with promoting charity.

Some cons of Dogecoin are: the fact that its supply is endless, supporters of Dogecoin could change their focus in a short time and shift their attentions to another cryptocurrency, causing its collapse and if Dogecoin does not become for all intents and purposes a currency used for purchases, it will always have a very erratic performance in the markets.

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Dogecoin Price Chart

DOGE is trading around 0.06-0.07$ range. It reached an ATH of 0.73$ in May 2021. The current CoinMarketCap ranking is #10, with a live market cap of $8.968.292.311 USD. It has a circulating supply of 132.670.764.300 DOGE coins.

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Dogecoin Wallet

To use Dogecoin you must synchronize your wallet with the blockchain. MultiDoge is a "lightweight" wallet. It can synchronize with the blockchain through "skimming" (a partial read of the blockchain), allowing fast synchronization times. Dogecoin Core, on the other hand, is an integral wallet, which requires downloading the entire blockchain. This is why Dogecoin Core is considered the most secure and reliable wallet.

Dogecoin is supported by both Ledger and Trezor. Digital wallets for DOGE include Exodus (desktop/mobile) and Atomic Wallet (desktop/mobile).

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What do you think about DOGE?

Have you a favorite meme-coin?

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Easy&Short. Cryptocurrencies made accessible
Easy&Short. Cryptocurrencies made accessible

In this section, we are going to create two article per each cryptocurrency/token. The first one will be technical, with a simplification of the Whitepaper and the second one will be about particulars of the coin. For example staking yields, particular functions and so on! I am sure you will like this very much!

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