Dogecoin is a cryptocurrency invented by the software engineers Billy Markus and Jackson Palmer and they decide to make the trading fun and instant and free from. It has the face of the dog who gets popular from the doge meme it was first introduced on December 6 2013 with no time it quickly developed its own online community who in no time reaching the capitalization of 5,382,875,000 US Dollar on January 28, 2021. The company is now trending in the market with huge capitalization.
The currency was design to reach the broader demographics as they wanted to keep this currency aside from the controversy. In December the currency jump to300 percent in just 72 hours with the volume of billions of DogeCoin per day all this took place in when Bitcoin economy. Three days later the DogeCoin experienced its major cash by dropping by 80% on December 25 2013 a twist came into the light when millions of coins were stolen during a hack on the online platform Doge wallet. After a month everything was covered when the same amount of money was given back after one month in January the trading volume of the currency was suppressed but it managed to keep its capitalization sustained it also received several rewards. In July the value of the currency suddenly raised as it has tik tok aiming to increase the coin price by 1 Dollar in early 2018 it put its total market as 2 billion USD the highest thing that ever happened was its value increased to 800% just in 24 hours.
USES AND EXCHANGE
It has been used by social media influencers to provide the content and also by the poker industry the coin was also used to sell the house certain websites are being also used to send the coin to the others. After a certain period of time, the coin was discontinued to use as his creator declared bankruptcy as a result most of the people and the user want in a loos as they have saved their coins in the system. The DogeCoin also has several parameters as the block time is 1 minute as compared to the others other company have their blocked time of around 2.5 minutes but dogecoin has only up to 1 min things came into the light when several people and the university found to be digging and looking for the coin.
The production of the currency was started with the production of 100 billion coins till mid-2015 the currency has additional 5 billion coins to put also every year. Now the currency has its production up to 100 billion and hence it has no hard cap implemented on the coin it also ahs several fundraising for the community and foundation for some charity and other social services the community has asked demo coins to raise a fund for the Jamaicans Bob lead team who was not able to afford the fund for the winter Olympics. The DogeCoin was also exchanged by 50% and also the company is also raising its funds for several athletes.
To keep the supply in a good amount the currency is facing lots of pressure on the price hence, this leads to lower its value and hence keeping itself cheap. The currency added 7.17 Billion in its market in just 24 hours the total market cap stood at 8.2 billion dollars. According to several other sources, it is a profitable business to invest in the currency as its value is somehow higher than the rest of the currency the best investment in 20201 can be done in DogeCoin as the value and the input is quite good. It is a peer-to-peer currency which makes it suitable for use it has initially started as a joke-based company and meme from the social networking site and also it is known as the most sarcastic coin meme. It has a low price and unlimited supply it still has merit the underlying technology is from the Lite coin. The coin featured a dog who belongs to the Japanese breed of dog it is a loyal company that trade and also take them and use the coin as tripping for the social media content the company has also marketed itself as a fun version of Bitcoin and a logo of the dog in the funny look. After every year the value of the coin is being halved it is an inflationary coin because there is a ceiling in the number of coins that are being created it also has a faster supply and consumer-friendly coin which leads it to gain more attention and more usage. The inflation rate is being kept low until or unless all the DogeCoin is being made.
CONTROVERSY OF THE DogeCoin
It lost its value when the crypto community decided to get serious and grow more it was also called a toxic community because of the coin and the money that was being produced. One of the members of the toxic community once mistakenly gave the 15,000 dollars instead of 1,500 dollars to one of the fundraisers. A large amount of the money was being denoted to make the fund for the creation of the money but things came into the light when it was being said that one of the members of the community has just used the surface but in reality, he was using all the money for the lavish lifestyle. Later on, Kennedy was being arrested in the matter of rape and was being sent to jail for 11 years.
DogeCoin IN 2020
In 2020 the infrastructure was not a central issue for the company one thing that will always be the issue for the team is the community of the miner.
reading every detail about the company now the question arise is. Is DogeCoin’s value is still high? Are the controversy and claimed that were made by the different people are correct? What about the value of the company in the market? To find out the answer keep yourself updated.