In December 2013, the price of a bitcoin unit reached $ 1,000 for the first time. The world now took a serious look at cryptocurrencies. About four years after the advent of Bitcoin, a programmer named Billy Markus developed his own cryptocurrency. Dogecoin was born in the last days of 2013 with the help of Jackson Palmer, product manager and data analyst at Adobe.
Unlike Bitcoin and many other cryptocurrencies, there is no limit to the number of units for this cryptocurrency, and its mining can continue indefinitely. While the number of Bitcoin minable units is limited to 21 million, there are currently more than 125 billion DOGE units in circulation.
According to the photo taken from the official Dogecoin gateway, approximately 5.2 billion units of this cryptocurrency are mined each year.
For this reason, long-term investment in this asset may be a bit risky. However, unlimited mining also has a positive side, making this network efficient for small transactions. Dogecoin fans argue that network fees will not increase significantly because of the blockchain bonus
for mining this cryptocurrency, and that this cryptocurrency could still be a popular option for gifts, rewards and charities.
Of course, the unlimited number of Dogecoin units does not always mean that investors cannot benefit from it. In 2015, Dogecoin price was around $ 0.0002, and in early 2018, the Dogecoin value reached its peak of $ 0.017, which represents an increase of 8,400% in just three years.
Now the Dogecoin price has not grown much in terms of dollars for about two years, but it has been able to maintain its position in the market compared to other cryptocurrencies.
Dogecoin price history
Dogecoin uses Litecoin script technology and coin is based on Proof of Work (PoW). Palmer and Marcus launched the Dogecoin on December 6, 2013. Two weeks later, on December 19, the Dogecoin value increased 300 times.
Perhaps this was due to China banning its banks from investing in cryptocurrencies.
In 2015, as the crypto community became more serious, Dogecoin lost some of his euphoria.
The first sign that Dogecoin was unhappy began with the separation of its founder, Jackson Palmer. He said “toxic communities” were forming around the coin and the money it generated.
Dogecoin was born with a market value of $ 20 million and a loyal following. Dogecoin was marketed as an entertaining version of Bitcoin and the Shibo Ino logo (a breed of Japanese dog).
Dogecoin’s introductory presentation welcome to the crypto community. Script technology and its unlimited availability was an argument for the flexibility and customer-friendliness of this version of bitcoin.
Dogecoin during and after the 2017 to 2018 bubble
In the bubble at the end of 2017, the Dogecoin price skyrocketed with all other cryptocurrencies and fell with all these cryptocurrencies in 2018. At its peak, the Dogecoin value was $ 0.018 and had a market value of $ 2 billion.
In the summer of 2019, Dogecoin price, along with other cryptocurrency markets, was fluctuated.
Binance Exchange once put this coin on its list and made Dogecoin enthusiastic fans very happy. Many think the mysterious tweet from Tesla founder Elon Musk prompted the signing.
Dogecoin in 2020 and 2021
With the help of Reddit and Elon Musk’s numerous tweets, Dogecoin price experienced a 600% growth in 24 hours.
The Dogecoin structure has not been the focus of coin developers; But he still has volunteers. One of the reasons Dogecoin still works and trades is because of its active mining community.
As of December 21, 2020, Dogecoin, with a forty-third position, had a market value of $ 611 million. However, Dogecoin value did not stop growing here, and with several tweets from Elon Musk, Dogecoin price saw more than 8 cents for the first time, rising 53% in 24 hours to 8.2 cents.
Dogecoin is currently worth tens of billions of dollars and the eighth largest cryptocurrency in the world.
Dogecoin Live Chart and its status in the Cryptocurrencies market
Dogecoin, abbreviated DOGE, is a cryptocurrency or form of digital asset with a market value of about $ 6.92 billion, ranked 19th and with a share of 0.38% of the total market. Each unit of Dogecoin is currently trading at $ 0.053674 and its daily trading volume is $ 452.04 million.
Based on the Dogecoin chart, Dogecoin price has decreased -1.13% in the last 24 hours. According to the Dogecoin chart, the highest Dogecoin value on 08 February 2021 was equal to $ 0.08, which is currently 36.81% lower than then.
On the other hand, as per the dogecoin chart, the number of DOGE units in circulation will be 128.95 billion and the total number of units will be 128.95 billion.
Based on the Dogecoin chart, Currently, the most active exchange where Dogecoin trades is ZG.com with 14.72% of the daily trading volume.
Dogecoin Value Prediction
The cryptocurrency that was supposed to keep the cryptocurrency area from being taken too seriously is now being taken seriously by many investors! Of course, there are still a lot of jokes in Dogecoin sub-reddit and the nature of this cryptocurrency has not changed much for those users, but Elon Musk’s continued support for Dogecoin has attracted more people to it.
Billy Marcus, one of the main founders of this cryptocurrency, which sold all of its DOGE inventory a few years ago and is now a regular user of Dogecoin sub-red, believes that the true Dogecoin value of lies in its user community.
Elon Musk also constantly introduces Dogecoin as the “popular cryptocurrency.” Due to the Dogecoin price increase recorded by Mr.
Musk’s tweets, the support of another powerful person or company could bring the Dogecoin value closer to $ 1. This cryptocurrency has become one of the hottest topics in recent months, and many people have envisioned the potential for good growth.
Zakaria M, a leading Steemit blogger, claims that Dogecoin price will be worth $ 1 in a 5-year timeframe.
In addition, he says, with Fiat currencies that can be traded with Dogecoin, it makes sense the Dogecoin value to reach $ 1 or even $ 10.
Crypto Ground plots Dogecoin price for the next five years. The website estimates that the Dogecoin value is down this year and will reach $ 0.02 in the next five years!
The cwalletinvestor.com claims that the Dogecoin price will be low and insignificant in the next 5 years.
Dogecoin price forecast for 2025
Dogecoin price may reach $ 30 in five-year timeframe. Also, Dogecoin value can also be as high as $ 40 if left unchecked. The Dogecoin value forecast shows that the Dogecoin value will grow significantly in 5 years.
Dogecoin price forecast for 2040
There is still a long way to go until 2040; Something close to two decades. Given the steady growth of Dogecoin value, it may be possible to establish itself as one of the top 5 cryptocurrencies by then.
The Dogecoin community may be one of the best. On the other hand, it may merge with other profitable organizations and thus increase its credibility. Dogecoin price could reach $ 900 by 2040.
are dogecoins mined?
Dogecoin can be mined either solo (where the rewards are held by a single person but competition is fierce) or in a pool (where a group of people pool their computing resources to increase their chances of winning the transaction confirmation lottery).
are dogecoin and bitcoin the same?
In contrast, software engineers Billy Markus and Jackson Palmer created dogecoin as a joke in 2013. Markus and Palmer didn’t wish for dogecoin to be taken seriously because of the “Doge” meme, which depicts a shiba inu puppy. As a result, dogecoin does not have the same level of technological development as bitcoin and is not as stable.
can dogecoin reach $1000?
In the run-up to 2030, Coin Price Forecast predicts DOGE will almost reach $1, ultimately reaching $1.0381 in 2031.
does dogecoin use blockchain?
Dogecoin is a cryptocurrency that, like Bitcoin and Ethereum, is based on blockchain technology. Blockchain is a decentralized digital ledger that records all transactions made with a decentralized digital currency in a distributed, safe manner.