Dogecoin is a decentralized crypto currency which was developed on December 2013 by Billy Markus and his team. It is a fun coin with a Japanese breed dog on their logo. When it was introduces it was worth close to $0, maybe because they did not do enough marketing. This crypto currency can be mined from mining farms or on virtual machines or either you can get it via crypto faucets.

Features of Dogecoin

It is ranked at number 32 and it has a total market capitalization of $309 million and 24 hour volume of $187 million. Dogecoin has no maximum supply of coin lie other crypto currencies and currently it has $125 billion circulating Dogecoin. It once reached an all-time high of $0.018 in 2018 and all-time low of 0.000085 and currently is trading at $0.0024 per coin.

The data we have above can help us to see the future of Dogecoin and looking its past trading history it shows that it took 3years for doge to reach $0.003284 and a year after that’s when it reached its all-time high of $0.018 and it took less than 20 days for it to fall to where it came from and for the past 2years it has been trading below $0.006.

Is Dogecoin a good investment?

It depends with your motive, according to the records of Dogecoin it does not move much it just move here and there so it is a bit difficult to realize reasonable profits and it will take time since it is almost constant. Checking on its day to day trading turnovers it proves to be very liquid but it level of volatility is just very low.

If you are an investor who just want a stable and a long-term investment then it will be a good coin as it is less volatile which makes it stress free.

The future of Dogecoin

This coin is always low and is likely to remain trading at a low price and there are no expectations that it will ever reach $1 per coin. Price and value are always determined by the supply and demand, this coin has no maximum supply of coins and with that the coin will always be flooded on the market therefore there is no way its price will ever go up sharply as there is less demand and infinity supply.

What could have helped?

Dogecoin needed good marketing strategy and its supply was supposed to be limited to a certain number so as to drive the price. Since its community was huge they had to work with merchants and make it as a payment method it could have helped to push adoption possibilities instead it mainly used for tipping.