For the past few decades, both the finance geeks and the techizens carry a buried known as cryptocurrencies. But this is not a problem anymore. This is because there are lots of cryptos available. Well, one of these cryptocurrencies is the Dogecoin.
On the other hand, when it comes to the cryptocurrencies, one of the most popular cryptos is called Bitcoin. If we are going to compare Bitcoin with a pop star, it may be Michael Jackson, Elvis, and Taylor Swift. If it is a band, it would be LANY. But in this post, we are going to discuss Dogecoin.
Since Bitcoin is popular, many people talk about it and forget that there are loads of available cryptocurrencies. In connection with that, most of these cryptos are much better compared with Bitcoin.
Some people think that crypto is all about digital properties. But it can also be considered as a community. Dogecoin is one of the altcoins that has an improved community.
If this is your first time to encounter the term Dogecoin, well, you should read this post up to the end. You will learn how the said crypto stated, why it is popular and how it is being used. So, if you want to know more about it, then let’s get started!
Dogecoin’s Story
Way back in 2013 December, there is a Bitcoin that can be exchanged with 1,083.14 USD. During that time, lots of people are taking cryptocurrencies seriously. But Jackson Palmer and Billy Markus stated that cryptos should not be taken seriously. This is because cryptocurrencies should be all about enjoyment and fun. Thus, both of them created their own coin that is made for fun.
Way back on the 6th of December 2013, Dogecoin was launched in public. It comes with a Shiba Inu dog picture. Upon its launch, it started to create an impact on the internet. So, people are asking about the new and bold coin.
The coin that was created for fun is now creating a huge community in the world of crypto. This is considered by many as one of the few friendly crypto coins. Dogecoin is known because they donate to different charities.
People who are using Dogecoins are called as Shibes. In connection with that, they are also using Shibe language that they can only understand. A Shibe language is a mixture of funny Broken English phrases and terms, which include “many works, much grateful, and such amazing.”
How is Dogecoin Used?
Now that you know the basics of Dogecoin, it is time to determine how it is being used. As mentioned earlier, Dogecoin is known for their donations on different charities in every corner of the world.
- Way back in 2014, Dogecoin come up with more than 50 thousand USD. This amount of money was donated to help the bobsled Team to their journey on the Sochi Winter Olympics.
- Way back on the 22nd of March 2014, which is World Water Day, the Dogecoin community comes up with more than 30 thousand USD. This money was used in creating wells with cleaner water in Kenya.
Dogecoin is also popular on the internet. In connection with that, Reddit also hosts a group community of Dogecoin, which is giving an extra amount of money to those who post great content about the said crypto. Aside from that, it is being used in raising money that they can donate to charities.
After knowing the story of Dogecoin and how it is being used, it is time for you to know the possible worth of a single Dogecoin. So, scroll down to know further.
What is the Worth of Dogecoin?
Even though Dogecoin has lots of charities, it does not mean that it comes with much worth. Currently, an exchange of a single Dogecoin is only 0.002383 US Dollars.
On the other hand, it does not have a limited supply. Thus, it has a limitless amount. So, its price rate will not change higher than the other cryptos that come with limited supplies, such as Bitcoin and Litecoin.
Right now, there are more than 114 billion Dogecoins. It helps Dogecoin to be one of the best cryptos used for small transactions. This is the reason why it is being used mostly for donations and tipping.
Even though the price exchange of Dogecoin is quite low, it does not always mean that it does not have worth. Currently, the market cap of Dogecoin is about 330,900,232 USD. But take note that it can get higher as time passes by.
Conclusion
When you were asked, “what is Dogecoin?” you can now provide a correct answer. Dogecoin is a crypto that is popular on the market next to Bitcoin. But if you are going to be asked about the uniqueness of Dogecoin among with the other cryptos, the answer is simple. It is not just crypto but a community as well. It is an area that is composed of people who always want to have fun. It is also a community for those who have a good heart and is always ready to help others.
Dogecoin also comes with a blockchain that is powerful in changing the world to be a better one. You can access it easily. Dogecoin is considered to be a blockchain part of cryptocurrency. Since it is a party, everyone is invited. So, now that you know something about Dogecoin, you can now join the fun in their built community.
