, 2 years ago
Dogecoin is one of the oldest cryptocurrencies on the market. It started in the year 2013 and has enjoyed much attention ever since. One remarkable event was the sponsoring of the Jamaican bobsled team in 2014. Most recently DOGE has seen a drastic increase in price and many people wonder why and how did this happen?
In today’s article we are going to explore Dogecoin and outline the reasons for its overall success and the recent price action on the market.
If you never heard from DOGE before you have to start with the birth of this particular cryptocurrency. While any other crypto is usually designed to fulfil at least one use-case and solve a problem, Dogecoin was designed as a meme. Meaning that the creators of DOGE never intended a serious project.
It was meant to spread joy and fun in the crypto-community as a whole. And as such the Shiba Inu was chosen as the mascot and symbol of Dogecoin. The Shiba Inu is a race from Japan and aside from the fact that it looks very cute, the Shiba Inu is known to have a very strong and independent will.
And in many was those traits of its mascot reflect some of the qualities of Dogecoin. Over the years it has persisted, despite the fact that it has a very different value proposition.
Many cryptocurrencies picked up on Bitcoins idea that sound money should come with a limited and therefore finite supply. Dogecoin on the other hand was designed as meme and with no serious intend.
Its supply was designed to be infinite which makes it very hard to say what DOGE is really worth. While one could argue that 1 DOGE has intrinsic value, the story of digital gold is most likely to fail. Over the years Dogecoin will probably inflate more and more. But why is it enjoying such a huge rally?
One reason is the endorsement of Doge by Elon Musk. He is not only the richest man in the world, but also a proponent of the funny meme. This had brought Doge to the attention of new retail investors who have thrown a tremendous amount of capital, once they learned via twitter that Musk is into it.
But that’s not the reason for the recent price surge. It is believed, that a group of redditors called Wallstreetbets is behind the strong rally. While the group itself denies allegations with DOGE and in fact ignores cryptocurrencies, the overall movement of new traders that are inspired by TikTok and the angry mob of Wallstreetbets might be the reason for its recent success.
Nov 08, 2021
One of the maybe most exciting coins on the market is Shiba Inu (SHIB), but not because it has brought technical novelties or introduced a brand new blockchain product. Instead, Shiba has put up something completely different on the table: the power of memeing. But what is Shiba Inu really and what does it do besides being a meme? In this article, we are going to dive deeper into the first Dogecoin killer available on the market.
May 09, 2021
Dogecoin is the success story this year. It went from 0,002 US-Dollar up to 64 Cents per DOGE. Many investors became millionaires while others sold happily all their DOGE at 8 Cents and missed out on the opportunity. Analysts gave reason to believe that Dogecoin only started a long-term rally and TikTok influencers are absolutely sure that Dogecoin will hit a price of 1 US-Dollar later this year. But what is Dogecoin in the first place? And why did it become so successful all of a sudden? In today’s article we are going to dive a little bit deeper into the world most famous cryptocurrency that is closely connected to a meme.