Dogecoin is a joke coin that is an established coin. People do not talk about doge technically but they use doge as joking with meme in social media. Viral meme has make the coin become so popular. Current volume trading has surpased $5 billion.
pic : stormgain.com doge price
> On Thursday, Twitter user “WSB Chairman” asked, “Has Doge ever been to a dollar?” to his almost 750,000 followers. A storm of social media activity ensued, with Dogecoin becoming the first-ever altcoin to surpass Bitcoin (BTC) in terms of daily Twitter mention volume.
What is dogecoin?
Dogecoin was founded in 2013 by IBM Software Engineer Billy Markus and Palmer. Palmer was a member of the Adobe Systems. He bought domain name dogecoin.com. Dogecoin is a PoW coin. Mining is way to mint new coin. Dogecoin uses litecoin scrypt.
December 2013, it was priced at $0.000255. A month later, in January 2014, its price reached $0.002306. Current price is $0.0526. The price of Dogecoin has caught the attention of many people. Cointelegraph published a bombastic headline that helped lift the price of Dogecoin.
Pic : Techrepublic.com
Pic : Knowyourmeme.com
Dogecoin becomes popular because of meme on social media. The meme has driven the performance of doge in exchange. The coin is used as microtiping. To tip on social media activities, doge can be used as small fraction with low transaction fees. There are thousands meme on the internet. people are boosted by meme not by technical scaling on doge network.
Is it profitable to invest dogecoin?
At the current pump, I think it is not the perfect time to buy dogecoin. The highest price ever in 2018 was about $0.01326. Totday is about $0.056. The move of the price to $0.056 is very fast. It is a kind of planned by big players. Just, wait until doge reaches the stabilty. The last stability price is $0.002 to $0.003. What is the price stability in 2021? let's wait until the end of February 2021. The peak $0.056 will not be long or will be higher in short time. Investing dog today is for short term investment.