Yes, You heard it Right!!
Dogecoin is one of the hottest cryptocurrencies right now in the market. Forked from Lite coin and started as Meme coin towards reward users for creating quality content on different platforms that use Dogecoin.
Since it doesn’t have any use cases or projects on hand except for tipping or rewards in faucets on different crypto faucet platforms, it was ignored by the trading community by and large.
It went to a point that one of the founder Billy Markus, has sold his Dogecoins and other crypto coins for Honda Civic. The irony is that today, the Market capitalization of Dogecoin is greater than Honda Brand itself. I am sure, he would be regretting his decision in selling out, but may at that point, it might be a good decision considering if it is still different. (even this article wouldn’t have existed!!)
While no one was much bothered about Dogecoin till late 2020, Elon Musk has opened the gates for the sudden interest of the entire crypto community looking into Dogecoin, with a series of tweets.
“Dogecoin is the people’s crypto” – Twitter
” Doge Barking at the Moon ” – Apr 15, 2021, Twitter.
“The Dogefather” – Apr 28, 2020, Twitter
“Cryptocurrency is promising, but please invest with caution! ” – May 7, 201, TwitterSeries of Tweets from Elon Musk on Dogecoin
A series of tweets and the support shown by Elon Musk has definitely brought the investor (both small and large investors) focus to Dogecoin, due to which price rose from $0.00474 on Jan 01, 2021 to $0.738 (All time high on May 08, 2021) price in just matter of few months with one of the highest returns ever seen.
Different Dogecoin communities do expect that the price may touch $1 soon enough, with current trading volume worth $5B dollars in the past 24 hours (at the time of writing the article) as per coindesk.com
Anything can happen in crypto world, let us see it is going to touch $1 in coming days..
While most of the individual investors are getting into Dogecoin these days, it might give you enough returns or it can be a bubble waiting to be burst, which no one is aware of. As we always caution our reader to exercise due diligence before investing into crypto, same need to be applied here as well. DYOR(Do Your Own Research) before investing your hard earned money and never ever invest what you are not afford to lose into cryptos.
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