Dogecoin is the most popular cryptocurrency considered as the meme currency by several investors. Dogecoin has been pumped many times in the past and therefore most of the crypto investors trade the Dogecoin against the bitcoin to get more bitcoin over the long term. Even though doge has not a clear competitive advantage over other cryptos in the market, it holds over 9billion dollars in market capitalization. The DogeCoin price is witnessing a big hype in the recent times and therefore giving a consideration to this cryptocurrency will improve your future a lot.
A few words about Dogecoin
Dogecoin is an open-source and decentralized cryptocurrency, which was introduced in 2013. The major idea behind doge was to develop the cryptocurrency, which would be more memorable and fun to the public to increase the awareness of the blockchain technology. Even though the coin was introduced as a joke, doge has obtained a large amount of attention as well as a devoted online community.
This crypto is built on the same technology as early cryptocurrencies such as ethereum and bitcoin. Using the blockchain verifies the transactions and then prevents the double-spending attempts. It renders a secure way to transfer the value without accessing the centralized intermediary system. Not like other cryptos, doge is infinitely mineable. It indicates that there is no limit to doge, which can be in circulation.
Is it good to invest in doge?
Of course, doge is a good investment. The transfer speed of the doge is much faster when compared to the bitcoin. As the number of users is increasing, the community becomes stronger. Because the mining period is complete, there is nothing to worry about hyperinflation similar to other crypto coins.
You will never lose much if you do not invest much and therefore it is less risky when you start small. Always check the DogeCoin price before making any investment decision. Ensure you purchase the doge from a reliable source.
Price of the doge
Like other cryptocurrencies, the DogeCoin price is changing regularly. Keep in mind that doge is volatile because the price of the crypto remains low consistently. You should be updated with the current price of the doge. It helps you to determine the right time to place the purchase and sell orders.
For many years, the doge price has remained at the fraction of the penny. In January 2021, it has crossed the penny threshold and soared to high on February 7. Since there is a surge in the pricing of the doge, you need to analyze the market completely to predict the future and make the investment decision correctly. Before investing, you can check Dogecoin news.