What is Dogecoin?
Dogecoin is a cryptocurrency invented by software. It was created by Jackson Palmer and Billy Markus to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency. While it was birthed as a joke, it actually led to some practicality as it’s large supply and low price facilitated efficient micro-tipping content on social media. It is a derivative of Luckycoin which forked from Litecoin and uses a Scrypt algorithm. Dogecoin has 1 minute block intervals making it faster than other blockchains. There is no cap to the supply of coins and thus the coin can inflate infinitely. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake.
First of all, let’s get to know Dogecoin coin Dogecoin originated from Meme Doge, which parodies the word Dog on the internet. According to Knowyourmeme’s website, the meme emerged in 2013 and was so popular that it was hailed as the “meme of the year” of that year. So Dogecoin is a cryptocurrency based on the “Doge” meme, which rose to popularity in late 2013. It started out as a joke. Now, defying all odds, dogecoin is worth $40 billion, and its price has risen by a whopping 400% in the last seven days.
Symbols: D, Ɖ Trending
ISO 4217 code: DOGE
Circulating supply: 127 billion (113 billion coins have already been mined)
Original author(s): Billy Markus, Jackson Palmer
Initial release: December 6, 2013
Programming language: C++
April 16, 2021 – Dogecoin currently has 5/1 odds (16.7% implied probability) to be worth more than $1 at the end of 2021, according to betting aggregators US-Bookies.com (See Disclaimer Below). … Dogecoin also has 16/1 odds (5.9% implied probability) to reach $1 by the end of April.
A major turning point for Dogecoin
Being a friendly coin, Dogecoin has a sizable community to support. This resulted in the actual adoption of Dogecoin, mainly used for “tipping” on social networks like Reddit or Twitch for people who made content or commented in a similar way. With pressing Like on Facebook
This means that Dogecoin’s value does not come from the technology behind it. But from a growing network of applications that. And in early 2018, Dogecoin gained the attention of international media. As Dogecoin’s total market cap has reached $ 2 billion. And with more and more news about Dogecoin coming out, there is an overwhelming flow of new investors.
Dogecoin is currently the seventh highest combined market capitalization cryptocurrency in the world with a total value of approximately $ 9 billion, according to Coinmarketcap.
If you follow the US stock market news recently. The case is likely to see a case of Gamestop being acquired by retail investors by 1,700% in just two weeks due to the fact that users of Reddit’s Wall Street Bets (WSB) group have members. Among the group of 3 million people have tried to stir up the anti-capitalist Wall Street market, which has always set a short selling position on Gamestop shares.
(Short Selling can easily be described as a forecast that the stock price will fall. To wait to make a profit when the price actually falls)
The WSB wants to “teach” these capitalists. Thus, people in the WSB group and both Reddit forums are flocking to buy Gamestop shares to boost the stock price. As a result, the capitalists were severely losing each other.
This is not the first time Elon Musk has mentioned Dogecoin.In December last year, Elon Musk tweeted a short message, “Ask for one word: Doge,” but it caused Dogecoin’s price to go up to 20. And back in July, Elon Musk tweeted a picture of Dogecoin, and that time, the price of Dogecoin jumped 14%.
Unlimited number of coins
One thing Dogecoin differs from other cryptocurrencies, including Bitcoin, is that Dogecoin has no limit on the number of coins that can be created. This makes this crypto, like any other currency in use today, that there is no limit on the number of notes that can be created.
Exchange without middleman
Dogecoin use the system to exchange cryptographic K. Lauren C. decentralized or Decentralized Exchange that allows people to exchange cryptographic K. Lauren C compatible format. No need for intermediaries or employees to manage Including a 24-hour service available for immediate trading worldwide.