About Dogecoin: A High Valued Cryptocurrency

About Dogecoin, The $34 Billion cryptocurrency had it’s start as joke and result of alternate to Bitcoin. Being virtual currency as Ethereum and Bitcoin have their values increased in market so did Dogecoin – started in 2013 being an alternate to Bitcoin. As per to the market data site, Dogecoin have so intrinsically increased their value, making it shoot $34 billion at present. In US as well at present this virtual currency was valued 28 cents which was more than double just a day before.

About Dogecoin : Dogecoin’s Birth

Digital Token – Dogecoin was created in 2013 by software engineers to be rapid but fun alternative to Bitcoin. Although it started as humor on various fraud crypto coins and took its name from some meme but gradually it had increased its value to heights, which was not expected by any investor for a cryptocurrency at its initial stage to be.

There is no upper limit being fixed for Dogecoins as it is being set for Bitcoins to reach 21 million by 2040. Where Bitcoin had over taken the online community which had lowered its interest in Bitcoin and that interest was generated by supporting unconventional causes. Where on the other hand; $55,000 of digital token were given by Dogecoin community to Nasacar driver in US in same year.

Dogecoin’s Rise

Rise of Dogecoin or of Bitcoin and Ethereum values have been gone to heights in US for the same reason as Dogecoin’s value raised, making them the most famous virtual currency exchange in US. As a result values of Bitcoin and Ethereum had reached $64,000 and $2,500 and Dogecoin was a part of such madness.

Various famous celebrities have promoted this digital token –Dogecoin on social media which had also lead to increase in its value in exchange market. Amongst them Tesla CEO Elon Musk had also made changes in Twitter bio as ‘Former CEO of Dogecoin’. This support made significant and remarkable increase in value of Dogecoins in cryptocurrency market. Also again the Reddit group named as ‘Satoshi Street Bets’ had also added in increase in value of cryptocurrencies by encouraging investors for cryptocurrency.

Fear From Rise

Few of the investors were of the concern that rise of currency as Dogecoin could also misguide as no meaningful value is been marked by the buyers and that they are involved in making money only. Trading with such a rise and only to make money is a risk for investors, few thought so. Where ‘ Value’ is concerned with land or gold and as cryptocurrencies are speculative and could crash in similar way of their rise. This fear is maximum in those group of people who are holding virtual currency at large.

Be the first to comment

Leave a Reply

Your email address will not be published.