If you are following through on the cryptocurrency market, then Dogecoin is no news to you. It is the newest cryptocurrency that is making a lot of waves in the market today.
Every now and then, you will find Elon Musk making posts about the coin encouraging people to invest in it. Maybe you have just heard about the coin by reading through reviews on Britainreviews.co.uk and still don’t have an understanding of it. Don’t worry; you are in the right place as we shall be examining everything you need to know about Dogecoin here.
What Exactly Is Dogecoin?
When you read through Bitcoin trading platform online reviews, you might be thinking that Dogecoin was introduced yesterday, right? No, Dogecoin was introduced sometimes in December 2013 by Billy Markus and Jackson Palmer. This cryptocurrency was developed as a decentralised one primarily for the purpose of peer-to-peer transactions. Though still behind many of the popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, Dogecoin is a cryptocurrency with a bright prospect. Since its launch, it has grown in value as more and more people are investing in it. In recent times, it has caught the attention of some of the big names in the tech industry.
Why Is DogecoinAll Over The News Now?
Whether it is on social media, or on the front pages of cryptocurrency magazines, there is always something to read about Dogecoin. It is possible that you must have been wondering why this is so and what about Dogecoin is special. There is nothing special about Dogecoin except that it is a worthy digital investment to make. For many years, Elon Musk registered his support for Bitcoin and that contributed to its growth. After he was done, he moved to Dogecoin and in one of his popular tweets, he said “Dogecoin is the people’s crypto” and that was the major turning point for this cryptocurrency. The period following that tweet saw a massive increase in the market cap of Dogecoin crossing its projected landmark. Everyone not only started talking about this new cryptocurrency, but they were also investing in it.
Why Should You Invest In Dogecoin?
There are several reasons why you may want to consider investing in Dogecoin and the most important of them all is that it is a digital currency. Except you want to deny the reality of the digital world that is before us, you will know that investing in any cryptocurrency is a worthy investment that will yield maximum profit.
Another reason why you should invest in this coin is that compared to the many other digital currencies, Dogecoin is still relatively low in price. There is no better time to invest in this cryptocurrency than now when the price is low because it won’t always remain like this.
There are big names in the crypto market that their words are capable of moving the market. One of those people is Elon Musk and we have seen the impact just one tweet of his can make on the value of cryptocurrency. If there is a coin that is worth your investment this year, then, it is Dogecoin.