Dogecoin’s viral meme turned into a widely traded asset worth 50 billion Dollars !!!
Dogecoin is cryptocurrency just like Bitcoin. It started as an alternative to Bitcoin. It was created in 2013 by two talented software engineers Jackson Palmer and Billy Markus, the intention to intend Dogecoin as cryptocurrency is to make fun of all the crypto craze the time led by Bitcoin. After creation of this Digital or virtual currency (cryptocurrency) there are millions of visitorson its official website Dogecoin.com. The logo and name of Dogecoin was taken from famous 2013 meme called Doge that featured the image of Japanese dog breed Shibu Inu accompanied by multicoloured text that represented some sort of inner monologue by the dog. Dogecoin’s size is nowhere near Bitcoin, the “Bitcoin”currency’s market capital has been propelled from over $1 billion during early January to $47 billion last week, as per CoinMarketCap. After meme was created,Dogecoin continued to be traded in Market. The ‘memecoin’ is not meme any longer.
Elon Musk CEO Tesla and SpaceX indiacated his support to the most trending altcoin. Elon Musk tweeted on April 18, 2021 Saturday that hiked Dogecoin’s price up by 200% from $0.13 to $0.39. Elon Musk tweeted on logo of Dogecoin as “Dogecoin standard” blustering over the ‘global financial system’. Musk called it ‘inevitable’ and on February 4, 2021 he again tweeted “Dogecoin is the people’s crypto”. According toCoinCapMarket “On Reddit and Twitter to reward the creation or sharing of quality content”. Handler can getit by participation in community that uses digital currency or virtual currency, store in exchange, or in Dogecoin wallet. Dogecoin supply is uncapped, In February 2014 Dogecoin founder Jackson Palmer make an announment that the limit would be removed in an effort to create a reduction of inflation rate over the time, which means that there is no limit to the numbers of Dogecoin that can be mined , unlike the Bitcoin. Indian users can set-up there account on any Dogecoin-supporting crypto exchange such as WazirX, BuyUcoin,etc. Investor can trade or invest in Dogecoin by using debit or credit card, bank transfer,BHIMS or e-wallets.
The current price of Dogecoin is29.17 Rs.as per Yahoo finance. The highest price till now is recorded $0.42 (31.68 Rs) and lowest $0.35 (26.40 Rs). There are total 128 million Dogecoin units as now. Dogecoin records high on April 20,2021 celebrated as ‘DogeDay’. It’s a day of the Doge. The enthusiastic traders of digital coin who yearned the price hike to $1 (75.44) on April 20, and named day as #DogeDay and #Doge420.
Will Dogecoin continue to rise?
“Remember this is a meme coin. As long as people keep hyping it on social media, more new buyers will come in.”
Dogecoin is currently the cheapest cryptocurrency, its proven to be an opportune investment. It’sfuture price can be predicted because the varying effects of its budding social media interest and influence. Young generation acclimate to crypto investment. Some believe that this is only the beginning, Dogecoin has seen more than 6.900% increase in the current year. Dogecoin can reach unimaginable heights.
“ The cryptocurrency dogecoin began as a joke, and now it’s worth more than Ford”. Published by MarketWatch.
Is Dogecoin is better than FD (Fixed Deposit) ? –
FD (Fixed Deposite) offers fixed and guranateed returns at particular rate of specific time. FD carries zero risk and give guaranteed returns at fixed rate of interest. FDs are subjected to 10% TDS on interest Financial Market rapidly moving individual investors who have used access to no-fee trading platforms and a wave of Government stimulus money to transform markets over the past year .This time, Dogecoin’s buyer havr gone a step further, turning who buy at early stage get unimaginable gains. Cryoticurrencies tent to be especially volantile, swings double-digit in a single day and do not charge any TDS and other taxes. A fixed deposit provide a interest higher than the interest on the savings account. However, an investor must also evaluate and search about other investment options that fixed deposite but also comes along with market fluctuations risk. FD gives a return in range from 6.75% - 7.25% p.a. where Dogecoin fluctuated and swings at any percentage.