Dogecoin is a communication blockchain that recognizes Shiba Inus, which has attracted Elon Musk’s attention and sees price volatility which calms Bitcoin. But for a future in which cryptocurrencies can see an increase in retail and dailies, the technique, the financial system, and the case of DogeUSD make it extremely interesting. It is time for several cryptocurrencies to move financially from the speculative to the retail.
Reasons for Popularity of Dogecoin
The reasons why Dogecoin stands out remarkably among the ‘non- bitcoin’ in a cryptocurrency-world that is still dominated by Bitcoins:
- Some prominent individuals comment on it as a way to favor Bitcoin and cryptocurrencies in general.
- It was released in December 2013 and is one of the oldest cryptocurrencies out there.
- Its price is unusual, that even a retail user can collect a lot of money and is generally worth so little. A Dogecoin unit recently drifted near a high of 1 to 2 cents, and for many years it has only valued as low as 0.001USD to 0.002 USD per unit for years. It is also meant that it had seen extraordinary price volatility even though its nominal price still seems “low.” It is more than efficient if one entered the Dogecoin at DogeUSD of 0.001 and sold approximately DogeUSDof 0.01.
- It does not have either the market- or the central issuing node/organization controlled fixed maximum supply or inflation. Instead, Dogecoin began an initial supply of 100 billion Dogecoins in 2015, at a rate of inflation of 5.25 billion Dogecoins per year, creating an inflation rate that has declined proportionately over time. Today there are about 128 billion Dogecoins, a slightly higher annual inflation rate of 4%.
- When Dogecoin was born, it took essentially a Shiba Inu dog’s famed “Dogue” Internet memory and featured it in the form of the cryptocurrency world of that time, creating a multitude of humor and with crazy tones compared with most cryptocurrencies that remain in the general public image.
Dogecoin transfers are reasonably quick, cheap and accurate, due to the minute value of a Dogecoin. Many large crypto exchanges are also available in the popular Bitcoin stock trading app, although not in the wallet and transferable form. Coinbase still has wallet capacity for it, although it is not available for sale. In the last few weeks, DogeUSD at https://www.webull.com/newslist/ccc-dogeusd has seen an extraordinary price increase at a rate even beyond Bitcoin’s. This is because of the combination of a different emerging “cryptocurrency interest” season like late 2017 in early 2018, which will likely end in a rather similar way.