By the introduction of Dogecoin, the market has seen huge fluctuation in the value of many cryptocurrencies, especially in bitcoins which has never been recorded before and it also has created an uncertainty among many bitcoin holders because they are not sure what they need to do further. And if you are one of them, then you are definitely required to checkout this ultimate guide:
Dogecoin entered the cryptocurrencies market as a standard bearer which literally changed the winds of this market only by its name that no one could have ever predicted like this. Not only this, but the popularity of this meme cryptocurrency has already affected the value of other cryptocurrencies mainly in bitcoins upto huge extent which are already prevailing in the market. This means, merely by introducing the name, the cryptocurrency market has experienced the unimaginable change in the values of many cryptocurrencies which make people think whether they should go for Dogecoin or Bitcoin.
Now if we talk about the idea of Dogecoin then it was merely conceptualized as a joke initially but then all of sudden it hits the highest mark of capitalization in the crypto market which was nearly $50 billions that eventually created a new record. So, after receiving this jaw dropping change, we can actually ask if cryptocurrency is becoming the future of money.
Because this 50 billions figure has made Dogecoin a bigger giant as compared to existing giants i.e. bitcoin. The cryptocurrency market has already captured huge currency value fluctuations in bitcoins before the day of 20th April but it certainly marks a record on this date. So, the day of 20th April was celebrated as Doge Day.
Apart from this, various existing cryptocurrency investors and business groups invested their additional funds in the same market which eventually created a new record for this market as it noticed the highest currency values on that day. Here in the same regard, Dogecoin is also trending the most on various social media platforms which is absolutely because of the name of tech icon Elon Musk whose name is attached to this.
Know More About Dogecoin:
It was 2013 when the name of Dogecoin first came into the light. It was one of the trending internet memes during that time. So, at that time, there were two people from the tech world who actually introduced it. The first person is Jackson Palmer who was working in Adobe and the other person is Billy Markus where both of them were certainly unaware of the fact that one day, the Dogecoin will touch such huge heights in all over the world exchange markets.
When they were working on the concept of Dogecoin then their basic intention was just to have fun by introducing a simple digital currency just like bitcoin in the crypto market which can be utilized for simple transactions such as making donations or giving online transactional tips etc. And it was all fun until the period of 2018 because this year actually recorded the market cap of 2 billion dollars by Dogecoin where the actual cryptocurrency market was facing a surge.
But here we cannot say that the value of 2 billion dollars makes Dogecoin famous all over the world because this is certainly not true. Because it's the name of tech icon Elon Musk which actually hit the mark with Dogecoin in the cryptomarket. Moreover, people have observed the various tweets published by the CEO of Tesla group which literally announced Dogecoin as the best cryptocurrency ever in all their tweets. After receiving these tweets from such a big group, people actually took the Dogecoin product very seriously and eventually they started investing in it instead of Bitcoins.
Should you buy Dogecoin or Bitcoin:
Dogecoin obviously has a technical superiority which actually takes you here so that you can learn it from us. Although this cryptocurrency is somehow similar to the bitcoins where you can certainly have the advantage of speedy transactions and low transaction costs as well. And these benefits are actually associated with almost all other digital currencies in the market.
But as we all know, the Dogecoin cryptocurrency was actually created with the intention of having fun and not mainly from the investors point of view. So, this fact absolutely makes it different from the other cryptocurrencies in the world.
Now when we compare it with the bitcoins cryptocurrency, then bitcoins can be observed as a limited number of coins published on the blockchain but this is absolutely different in case Dogecoin because they are producing more and more coins every year so you are going to have an unlimited supply of this cryptocurrency.
Here in this content, we have provided various facts on the basis of which you can simply decide whether you should go for investing in the Dogecoin. So, check this out very carefully and invest wisely. Moreover you can open your online business at CrypTalks and start accepting crypto as payments. Our representatives are always here to answer you questions.