Investing in Dogecoin – Besides having a friendly and fun brand image, Dogecoin aims to be an encouraging introduction to cryptocurrency use. The idea for a “joke” cryptocurrency came from an Oregon programmer named Billy Markus.
In his opinion, a more lighthearted coin, rather than Bitcoin, would be more likely to gain widespread adoption. Despite Dogecoin’s small size, the ‘joke’ currency’s market capitalization rose from $1 billion to $47 billion on Saturday, according to CoinMarketCap, a company that tracks cryptocurrency markets.
Dogecoin Facts & Figures
Shiba Inus around the world are fond of using Dogecoin, an open-source, peer-to-peer digital currency. We have a fun and friendly mascot named “Doge!” In addition to being associated with Dogecoin, the Shiba Inu breed of dog has become a popular meme and has become so popular that it has become an online meme.
In the world of cryptocurrency, Dogecoin has one of the most active and most prominent communities. This group supports several charitable endeavors and other projects. Moreover, NASCAR races were also funded. Due to the lack of an upper limit, Dogecoin has an actual circulating supply exceeding 100 billion.
A cryptocurrency dubbed a “meme,” Dogecoin (DOGE) is a fork of Litecoin that runs on an open-source algorithm. It’s a kind of meme that was popular online in 2013, known as the Doge meme.
What is the appeal of Dogecoin?
In addition to Elon Musk and Snoop Dog giving their endorsement to dogecoin, rock musician Gene Simmon is driving prices upwards. Elon Musk recently tweeted, “Doge barking at the stars.” Many people bought large amounts of Dogecoin (DOGE) following Musk’s tweet, causing the price to rise 20% in 24 hours. As a result of the rising value of other coins such as Bitcoin and Ethereum, the cost of Dogecoin has increased. On April 18, Musk tweeted a picture of a Shiba Inu dog face as the ‘dogecoin norm’ blowing over the ‘global financial system.’
Several factors have propelled Dogecoin into the mainstream, including Elon Musk’s apparent endorsement and overwhelming support from Robinhood dealers. Described as “inevitable,” DOGE’s run seems unstoppable at the moment. The meme cryptocurrency briefly overtook XRP as the fourth largest cryptocurrency as prices reached a new high by market capitalization.
During the market mania, DOGE liquidations surpassed Bitcoin (BTC) at one point, demonstrating the asset’s popularity. A short time after the start of the year, DOGE’s Twitter activity exceeded the flagship currency.
How to Invest in Dogecoin?
It is possible to purchase Dogecoin using most cryptocurrency wallets or online platforms. Indian crypto investors can open an account on exchanges that support Dogecoin, including WazirX and BuyUcoin. The platforms available for transferring investing in Dogecoin include debit or credit cards, bank transfers, and IMPS. The Know Your Customer (KYC) process verifies your information on these platforms.