Dogecoin emerged in December 2013. It is often referred to as the cryptocurrency of “memes” and for good reason. Doge coin was created when Bitcoin started to be taken seriously and became valuable.
The creators of Doge thought that cryptocurrencies should be fun and not so rigid. So they devised an alternative currency whose goal was to make the industry fun again.
Dogecoin's face is a Shiba Inu dog.
Dogecoin took the community spirit of cryptocurrencies to new levels. Dogecoin supporters call themselves Shibes. It even has its own Shibe language created from fun English words in phrases like “such amazing”, “much grateful” and “many works”.
It can be debated whether Dogecoin was created as a joke, but the cryptocurrency has a huge following, and members of its community "tip" each Doge for content.
What are the goals of Dogecoin?
Dogecoin developers have not made any changes to the cryptocurrency since 2015. There are three developers working as part-time volunteers. Beyond security updates, the core code remains the same
The goal is to become the de facto standard fun cryptocurrency with a strong community. Elon Musk says that Dogecoin is his favorite cryptocurrency.
In a nutshell, like most assets, Dogecoin gets its value from what people are willing to pay. Since Dogecoin is stored and transferred online, the price is determined globally. It's the same no matter where you are. Any price difference between the markets is quickly arbitraged with the traders.
How many units of Doge are on the open market?
There are 125,297,665,179 Doge tokens on the open market, but the supply is unlimited.
What bear investors are saying
Unlimited Supply: If the coin has unlimited supply then, in theory, it would never materially increase in value.
Dogecoin founder is bearish: Jackson Palmer has said he thinks there is too much hype and that only supports the value of Dogecoin.
It was created as a "joker" coin: It was never designed to solve problems or become the next Bitcoin. There is no roadmap with lofty ambitions. So why would you invest?
What Bulls Are Saying
High profile: Even now, when you think of cryptocurrencies that you can name and that your kids know because they've seen the memes: Dogecoin comes along. Could his high profile and fans attract developers and result in something useful?
Entrance cost: Doge costs less than a penny. Speculators like to see potential because of its high scalability.
How to buy Dogecoin
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