Doge coin is one of the very first Meme coins to be created in the history of the crypto market and we will be giving you a proper review that has all you need to know about this coin. By the end of this read, you would have gathered proper knowledge that will give insight as to whether you can call this a jackpot or not.
You should have known for a fact that all cryptocurrencies run on blockchain technology. Just like the fathers of the crypto market Bitcoin, Ethereum, we have lots of other cryptocurrencies popping up due to one reason or the other. Amazingly so, some coins spring up as a result of jokes made. These coins, projects that are made as a result of jokes are called Meme Coins. These Meme coins don’t seem to have value initially until attention; a lot of attention is pulled to it.
What Is Doge Coin
The Doge Coin is a cryptocurrency just the same way Bitcoin and Ethereum are cryptocurrencies. Doge Coin is a Meme Coin that was created as a joke. This joke came up due to a lot of speculations in the crypto market. Very well this coin started as a joke but the way it’s going now, it has become too serious to remain a joke.
The Doge Coin has become too serious to be taken as a joke because as at this moment, it is one of the highest-ranking Cryptocurrencies in the world. I’m sure that isn’t coming to you as a shock. Even though the dodge coin was labeled a Shitcoin, it has been able to make its way to the top and sit with coins that were never labeled Meme coin or Shitcoins.
This digital currency amazingly doesn’t have a limit to the number that can be produced in the system. The Doge Coin was created using an open-sourced software project called Litecoin, this isn’t the same source from which Bitcoin was created.
History Of Doge Coin
The Doge Coin was created, developed in December 2013. Its logo is the same as that of Shiba Inu (the Japanese Dog). This Shiba Inu isn’t Cryptocurrency but a Japanese dog breed that is used for hunting. Now, this particular dog is a medium-sized dog but is used for hunting because it is smart and agile.
Looking at the dog physically you would say this dog can’t be used for hunting but the Japanese were able to spot that the dog, though it looks small was strong smart, and agile. The same way the creators of the Dodge Coin developed, created the dodge coin as a joke but I’m sure they did not see this coin only as a joke.
The Doge coin was created by Billy Markus and Jackson Palmer. These two software engineers were and still are the brains behind the creation of the joke that has become too serious to be laughed at. The two software engineers created the dodge coin as a payment system which a lot of people started using as soon as it came out in 2013.
The amazing story of this joke of a coin is that at some point, it shocked the whole world to stand among the 5 most top-ranking cryptocurrencies in existence. This shocker happened a little while after there was a group of tweets posted by Elon Musk and Snoop Dog. These tweets sent the price of the dodge coin topping its price at that time by 31%.
IS DOGE COIN A GOOD INVESTMENT IN 2021?
Talking about the investment, I will not fail to mention that there is no telling what the cryptocurrency market can be as it has high volatility. I, essence, investing in any cryptocurrency at all is an open check, so you decide to invest or not to invest. Here’s what we’ll do, we’ll give you some tips and let you make the decision.
To invest in doge coin Or Not?
The Dodge Coin just like any other coin started at a no value pace, it was regarded as a coin with no future hope of gaining value. Amazingly, the dodge coin has proven many analysts wrong and has got a lot of analysts going back to do researches again and again because they did not see the fast rise of the Dodge Coin coming.
A walk down memory lane reveals a no value beginning for this coin and after a short period, the dodge coin came knocking on the doors of all other cryptocurrencies ahead of it with a screaming pace. If you ask me, would you invest in the dodge coin because of this fact? Oh yes, I will. This shows a lot of strength and agility.
Here’s a little history of the price of Dodge Coin between the First to the twenty-sixth of November 2021
Date Close/Last Volume Open High Low
11/26/2021 0.209091 N/A 0.217911 0.209091 0.200986
11/25/2021 0.217252 N/A 0.217008 0.221767 0.216494
11/24/2021 0.216979 N/A 0.223338 0.220857 0.214334
11/23/2021 0.223489 N/A 0.222801 0.229616 0.221722
11/22/2021 0.222895 N/A 0.220981 0.223356 0.217897
11/21/2021 0.222389 N/A 0.227849 0.226125 0.220834
11/20/2021 0.228163 N/A 0.233147 0.23346 0.228133
11/19/2021 0.232749 N/A 0.221249 0.235725 0.232079
11/18/2021 0.220649 N/A 0.234981 0.22471 0.216243
11/17/2021 0.23639 N/A 0.234035 0.241272 0.235328
11/16/2021 0.232364 N/A 0.248116 0.239072 0.229922
11/15/2021 0.248317 N/A 0.263541 0.256726 0.243547
11/14/2021 0.26366 N/A 0.261187 0.265189 0.261783
11/13/2021 0.261491 N/A 0.25572 0.263178 0.260779
11/12/2021 0.256088 N/A 0.263672 0.260672 0.255409
11/11/2021 0.264537 N/A 0.262755 0.268464 0.259261
11/10/2021 0.261981 N/A 0.270824 0.263851 0.253402
11/9/2021 0.270772 N/A 0.284424 0.275681 0.267613
11/8/2021 0.283627 N/A 0.271472 0.28946 0.279467
11/7/2021 0.272509 N/A 0.261371 0.273707 0.264619
11/6/2021 0.261923 N/A 0.263504 0.263606 0.260046
11/5/2021 0.262658 N/A 0.261701 0.267432 0.259752
11/4/2021 0.261032 N/A 0.269503 0.263542 0.257887
11/3/2021 0.269032 N/A 0.271549 0.270796 0.266477
11/2/2021 0.270501 N/A 0.270336 0.275279 0.270161
11/1/2021 0.270436 N/A 0.265774 0.27282 0.267469
With this information above, you can see the volatility in the cryptocurrency market and at the same time, you can see that the fall in the price of the dodge coin doesn’t exceed a certain rate. The pace of the rise of the coin is amazing.
Tracing the history of the Dodge Coin, as of December 2013 when it was created, the price of the dodge coin was at $0.00095. Between 2017 and the early months of 2018 the price of the dodge coin saw a rise that placed it at $0.017. At this point, analysts would have predicted another few years of stalling for the price of the dodge coin but the price met another lift due to the overwhelming attention the dodge coin had generated. This attention led to a trend on Reddit which wanted the price of the dodge coin to be placed at a value of $1.
In January 2021, the price of the dodge coin went over 800% to be placed at $0.07. In February 2021, the dodge coin was able to attain a new price due to tweets of Elon Musk and Snoop Dogg and was placed at $0.08. In April 2021, the new price of the dodge coin became $0.45, it was at this point that dodge coin became the fifth highest valued cryptocurrency. The Dodge coin has seen a consistent considerable rise and fall like every cryptocurrency.
With all this market information, it is no doubt that investing in the dodge coin is a good option. One thing you must note is that proper consistent monitoring of the crypto market will help you make profits and avoid losses while investing.
Related: Shitcoins: All You Need to know
Top Exchanges to Buy Doge coin In 2021
In the same way, there are several exchanges where you do crypto buying and selling. There are some top picks for buying the dodge coin.
If you have a firm knowledge of cryptocurrency, your best option will be Kraken. Kraken is best for those who do margin monitoring and investment for HODLing(that is very long-term investments). Another platform among our top picks for buying dodge coin is Coinbase. Coinbase is one platform where traders of all levels (whether professional or newbie) can do all crypto deals.
One platform which is popular to everyone but is also among our top picks is Binance. This platform allows for peer-to-peer trading and is one sure platform for buying the dodge coin. eToro is another comfortable platform where you can purchase the dodge coin. I would personally recommend this platform for crypto newbies. If you need a platform with low fees that is also safe then you can use Voyager.
Dodge Coin Price Predictions
If you’ve properly followed this article from the beginning I’m sure you’ve made your predictions by now. If your prediction for the price of Dodge Coin is an all-time high in the next few years, you might not be wrong but remember the high volatility of the crypto market. If your prediction is a consistent growth to hit $1 in the next 6 months to 1 year, I think I will stay with you on this one.
According to FX street, the downward turn for the price of the Doge coin will eventually get worse if the pressure to sell increases. This means in the bid to stay in the market the value of Doge will be dropped if acquiring more sales is the target.
FX Street sees a downward turn for dodge in the next few months following the trend. Again they made a statement of hope saying that if Doge can quickly recover from this downward turn, there is the hope of an increased value.
From other analysts, there is hope even with the recent downward trend. Market analysts expect the dodge coin to trade above $1 by the end of 2022. For the years ahead, market analysts expect an upward trend for the dodge coin.
See Also: Wakanda inu: All You Need to know
What’s The Future Of Dodge Coin
With all the improvements and advancements plus the high volatility of the crypto markets some experts had this to say when asked about the future of the dodge coin
Mr. Kamerman made a statement that insinuates that no matter how popular cryptocurrency becomes, it will never take the place of fiat currency. He encouraged investors to take the risk of investing. Risk because investment is a risk.
Mr. Onigbanji while speaking during an interview highlighted the fact that the future projections for Dogecoin are solely dependent on politics and the volatility of the crypto market.
All these points made simply point to the fact that the height for the value of the Doge coin isn’t fixed and there are still tendencies that the coin will have and keep having value appreciation. As usual, consistent monitoring of the crypto market will give you good heads up as to what the future of the Doge coin will be.