Great news for Dogecoin. Coinflip, the largest ATMs provider of Bitcoin in the United States, has just announced its decision to make this cryptocurrency available to the public. This is due to the growing popularity and the massive adoption of this virtual currency which is quite different from others.
What is Dogecoin?
Basically, Dogecoin is a digital currency, which is a little “special” in the world of cryptocurrencies. In fact, its creators, Billy Markus and Jackson Palmer, presented it as a joke in order to raise awareness about the capacities of blockchain technology, in December 2013. We are far away from projects such as Bitcoin or Ethereum. In terms of mining, more than 100 billion coins have been produced. The mascot of this cryptocurrency is a Shiba Inu dog, which is named after the internet meme “doge” (logo): dogecoin doge.
Even if Dogecoin was initially created as a less serious project, it has gained momentum and is now known by investors as well as beginners, in January 2021, thanks in part to its dynamic community on the social networks. The enthusiasm for this digital currency increased thanks to the very active implication of some celebrities from the world of music: The rapper Snoop Dogg, Gene Simmons the bassist of the band Kiss and many others. But the price of the Dogecoin rose thanks to the tweets of Elon Musk (owner of tesla) making this asset go from a capitalization of a few hundred millions dollars to more than 5 billions today.
In addition to the significant impact of the famous influencers and its relative success in the financial markets, the dogecoin remains an asset, whose initial investment for an individual remains very low compared to bitcoin or Ethereum, or any other stock market security. Right now, the price of the Dogecoin is situated around $0.05 compared to $0.02 in November 2021 and with an absolute record of $0.087. With a few thousand Dogecoins in your cryptocurrency portfolio, a price movement of a few points, will increase the value of your digital assets. Capital gains is part of the reasonable scenarios because an increase in dogecoin transactions and an intensified circulation throughout the ATM network will consolidate its value over the medium term.
If you can afford to invest a few hundred euros to buy Dogecoin and then wait a few months… I would say: go for it, you could have a wonderful surprise.
Don’t hesitate to follow the evolution of the digital currencies on the Union Btc blog.
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