Dogecoin, or DOGE, has been blasted everywhere as we come the the end of this week... and for good reason. Beginning as a meme back in 2013, Dogecoin initially began to reflect the doge meme that was circulating heavily during that time. Dog of choice? Shiba Inu. Created by Billy Markus and Jackson Palmer, both software engineers for IBM and Adobe respectively, Dogecoin was expected to stay as a meme and a meme only.
Now, this has drastically changed. Let's take a look at why DOGE is exploding in the market right now, what it's used for, and how you can go about snagging some Dogecoins for yourself.
I am not sponsored by CoinMarketCap or Dogecoin.
This is not financial advice. I am not a financial advisor.
Please do your own research before making any decisions before investing.
This article is meant for educational purposes only.
Towards the end of 2013, when DOGE was created and made known, it had a value of around $0.001042. Today, at the time of writing this article, DOGE is listed at $0.3228 per coin. This is an increase of 30,878.9% in value over the past 7.5 years. But why? Popularity. Within the first 30 days of launch, DOGE had already seen over a million visitors to the website. People bought the coin basically just to say they owned it. If those people held onto DOGE until now, they are literally soaring to the moon in profits.
DOGE can be found on multiple different platforms now for trading, most popularly on Binance or Binance.US. While uses for it are slim, there still are some uses to the coin.
Users on Twitter and Reddit trade tangible items for DOGE peer-to-peer. Mark Cuban, owner of the Dallas Mavericks NBA team and Shark Tank host, announced that you will be able to buy Mavericks tickets using DOGE. This article can be found here. This, of course, helped DOGE boost in popularity. One of the most polarizing events for the coin is recognition from the world's richest person, Elon Musk. A quick browse through Elon's Twitter page will show you that he is quite interested in the DOGE hype and even affects the market with his DOGE tweets. With these two powerhouse business men generating more popularity around the coin, it's no wonder why the market is reacting in a positive manner.
But what does this mean or Dogecoin? Who knows, honestly! With DOGE picking up more momentum as the days go on, it's only a matter of time before others begin jump on the train. Always remember though that the crypto marker is highly volatile. The price of DOGE today could drastically increase or decrease from here. Check your charts, do your research, and do your research again before making any decisions.
We just have to sit back, wait, and see!
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