Dogecoin now
Just as the virtual currencies Bitcoin and Ethereum have surged in value this week, so has Dogecoin — a cryptocurrency started in as an internet parody. On Friday in the US, the digital token was valued at 28 cents, more than double its value a day before. It was started as a satire on the numerous fraud crypto coins that had sprung up at the time, and takes its name and logo from a Shiba Inu meme that was viral several years ago. Unlike Bitcoins, whose maximum possible number is fixed at 21 million a figure that is estimated to be reached by , Dogecoin numbers do not have an upper limit, and there are already more than billion in existence. Dogecoin is said to be a part of this frenzy. Another reason behind its current success is said to be a Reddit group called SatoshiStreetBets, where members built up an enthusiasm for the cryptocurrency in a manner similar that led to the rise of GameStop earlier this year.
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Content:
- Dogecoin Co-Founder Urges Community Not to Focus on Price
- DOGE price jumps 20% as Elon Musk says you can buy Tesla merchandise with this coin
- Crypto prices today: Bitcoin hits two-week high; Ethern, Dogecoin trade in green too
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- Why Is Dogecoin Going Up? Coinbase Listing And Musk's Tweet Pump Up DOGE
- Dogecoin DOGE/USD price history up until February 2, 2022
- Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention
Dogecoin Co-Founder Urges Community Not to Focus on Price
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Dogecoin, like Bitcoin, is a cryptocurrency, digital money that can be sent from person to person via a decentralized network — in other words, without a bank, government or other third party. The pair created the "altcoin" any cryptocurrency that isn't Bitcoin after seeing other altcoins being made daily with claims that they would one day be worth millions. The Dogecoin creators didn't mean for the cryptocurrency to be taken seriously. Over the years, Dogecoin amassed a following in corners of the internet where, while some may have been looking for the next big thing, others were just looking for laughs.
Then, the cryptocurrency exploded. Last Wednesday, Dogecoin hit 10 cents a coin for the first time ever. Just two days later, on Friday, the cryptocurrency hit another all-time trading high at 44 cents, according to CoinMarketCap. Not that we would recommend this. There are a few potential reasons for the surge. Coinbase, the largest cryptocurrency exchange in the U. Who knows. But his tweets have certainly caused Wall Street concern.
The investing app Robinhood and Coinbase have both dominated mobile app stores as more everyday traders turn to the stock market. Finally: FOMO. The fear of missing out on the next big thing can certainly get people to pile money into the market, no matter how risky it is.
Bitcoin, created in , was the first cryptocurrency and is still the dominant one. It was created for peer-to-peer transactions over the internet. In Dogecoin explainer videos, popular Youtubers like Marques Brownlee and Graham Stephan have called the digital currency less intimidating since it is, in its origin, a joke than the rest of the crypto world, which takes itself pretty seriously. As in, people can actually afford it. One aspect of Dogecoin that makes it unique is its unlimited supply of coins while other cryptocurrencies have a cap.
Only 21 million bitcoins can be mined total, for example, but due to a flaw in its design, dogecoins can continue to be mined over time. That gives miners extra incentive to create Dogecoins but also creates an extra risk that the currency could lose value over time through what would amount to "inflation.
At least for now, Bitcoin is a lot more mainstream than Dogecoin, and more big companies are allowing customers to use it for everyday transactions. Last year, PayPal started allowing users to buy, sell and hold cryptocurrencies and soon, users will be able to pay millions of merchants with it. Users can use it for small transactions, like tipping content creators.
You can buy Dogecoin via some cryptocurrency exchanges Kraken. Robinhood, the favorite investing app among many of the traders that took part in the Gamestop trading frenzy, allows users to trade Dogecoin commission-free. There are also websites called Dogecoin faucets, where people can request a small amount of coins during certain time intervals, like every three hours.
No surprise here: Cryptocurrencies come with risks, like volatility. Money has previously reported that one of the biggest risks to owning Bitcoin is the possibility of it being banned. Investors need to be cautious. Here Are the Pros and Cons.
By Mallika Mitra April 19, Money; Getty Images; Shutterstock. So what is Dogecoin, and why is it getting so much attention? Ads by Money. We may be compensated if you click this ad. Build your ultimate crypto portfolio. Coinbase provides investors, from beginners to experts, with a comprehensive crypto trading experience, on a powerful yet user-friendly platform.
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DOGE price jumps 20% as Elon Musk says you can buy Tesla merchandise with this coin
Dogecoin is a cryptocurrency forked from the Litecoin blockchain. The project was founded by Billy Markus and Jackson Palmer, based on the idea that a comedic coin would receive more mainstream attention than a serious project like Bitcoin. Since its creation, a large community of fans including Elon Musk has rallied around and supported the coin. Dogecoin uses a Proof of Work consensus mechanism that requires dedicated mining equipment to mine new coins. The supply of Dogecoins is unlimited to discourage hoarding, reward miners, and keep transaction fees manageable. This does, however, mean that the coin is inflationary. Although it started as a joke, Dogecoin has become increasingly popular with investors among other major cryptocurrencies.
Crypto prices today: Bitcoin hits two-week high; Ethern, Dogecoin trade in green too
The total market value of a cryptocurrency's circulating supply. It is analogous to the free-float capitalization in the stock market. The amount of coins that are circulating in the market and are in public hands. It is analogous to the flowing shares in the stock market. It includes coins that have been already created, minus any coins that have been burned. This is the ranking of a coin based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned. The maximum amount of coins that will ever exist in the lifetime of the cryptocurrency. It is analogous to the fully diluted shares in the stock market.
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So what happens next? Meme coins are the volatile wing of the already highly volatile crypto sector, and DOGE is the pack leader of memes. How much is dogecoin worth? What value does it offer?
Why Is Dogecoin Going Up? Coinbase Listing And Musk's Tweet Pump Up DOGE
That's a big return in a short period of time for anyone holding it. It's hard to point to anything specific with Dogecoin that would explain its outsize move higher. But there's an important general trend to note. It turns out that retail investors are still trading crypto, a lot! Coinbase Global, which enables the trading of cryptocurrencies, reported quarterly financial results earlier this week.
Dogecoin DOGE/USD price history up until February 2, 2022
A daily roundup of news and information about Bitcoin, Ethereum, Dogecoin and more, this page has everything you need to know about cryptocurrency. The pricing of cryptocurrency changes very frequently and remains highly volatile. Even looking at only the most well-known crypto tokens such as Bitcoin , Ether not to be confused with the Ethereum network for which it is the native token , Dogecoin , Litecoin and Ripple , there has been a lot of movement in their value. Bitcoin is the oldest and most well-known crypto token that you can buy, and in the last hours, its value has changed by 2. Other cryptocurrencies are also now strong investment options and the Shiba Inu-themed Dogecoin, whose symbol is DOGE, which was initially created as a joke, is now one of the best known tokens. In the last day, its value has changed 4. All data for the values is being sourced from CoinSwitch, a trusted and popular platform to trade cryptocurrency. This is because crypto prices can vary slightly across providers, so using a single source for this information is very important.
Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention
Dogecoin is continuing to defy expectations , with its price hitting another record high on Wednesday morning. However, this does not mean Dogecoin is a good investment. Cryptocurrencies are notoriously volatile , and this is even more true of a coin such as Dogecoin which has experienced such rapid growth in such a short space of time. Its value could crash just as quickly as it has risen , so if you are planning to invest you should do plenty of research and only put in what you can afford to lose.
It is perhaps the ultimate symbol of late capitalism: a digital currency that started as a joke, now worth more than the Ford motor company, BP or Tesco. Riding a wave of speculative interest despite Covid triggering the worst global recession since the s Great Depression, Dogecoin has been a huge hit with amateur investors. It is a cryptocurrency based on an internet meme — a humorous online phrase or photo, which on this occasion is a dog — and has shot to wider attention with a record-breaking rise in value in recent weeks. He has previously tweeted support for Dogecoin in what may be best understood as the perpetuation of an online joke. Created in by two software engineers from IBM and Adobe, the Dogecoin digital currency is based on the Doge meme, which features a Japanese shiba inu dog surrounded by grammatically incorrect phrases in a kind of inner monologue.
In the span of a few months, Dogecoin went from being a joke to a 90 billion dollar digital asset at the height of its price and popularity. Dogecoin hit its maximum price a few days ago, reaching a high price of 73 cents. Since then the crypto markets experienced a heavy, most coins went down by about 50 per cent, including Dogecoin. However, the Dogecoin price has gone up by more than 20 per cent in a span of 24 hours. Read on to know why is Dogecoin going up. There are several reasons behind the rise in the Dogecoin price.
Photo of Elon Musk holding a doge. Credits: Elon Musk's Twitter. According to Coindesk , it has risen to In early January, each token was worth less than one cent.
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