Dogecoin : what is it and what is the price of DOGE

Billy Markus, creator of Dogecoin

The open source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia in December 2013. Billy Markus, was a former IBM developer, and Jackson Palmer, an Adobe data engineer, and together they developed this cryptocurrency.

A bit as a joke, but also seriously, this cryptoactive that started as a parody of Bitcoin emerges. Keeping the cheerful spirit of this coin, its founders decided to launch it through social networks.

Characteristics of the dog meme cryptocurrency

• Compared to other cryptos, it has considerably low transaction fees.
• The speed of transactions is high and fast
• Although the digital currency was initially restricted to a supply of 100 billion, this was later changed to an unlimited supply.
• Thanks to its beginnings as a meme, it formed a large supportive community that also generates content that facilitates new users interested in investing in crypto.
• Many Dogecoin users use their digital currency for noble purposes. For example, to tip artists online, rewards in social networks, as in the case of Reddit, buy tickets and is even available in ATMs in the United States.

How does Dogecoin work?

Dogecoin is not a cryptocurrency developed from scratch, but is based on the Litecoin code, which is available for anyone to use. Another particular fact is that the issuance of new Dogecoin coins is infinite.

This crypto could be considered as a serious exploration project to analyze scalability projections and resolve transactions in specific niches and communities.

In its development, Dogecoin received a lot of support from the public and especially from important figures such as Snoop Dogg or Gene Simmons from KISS.

Advantages and disadvantages of this crypto meme

The speed at which Dogecoin gained popularity was immense. By January 2014, Dogecoin had become a commonly used currency for nearly all Reddit users numbering over 300 million . This aspect provided both advantages and disadvantages in its development.

Advantages of DOGE

One of the main advantages that Dogecoin presents is the speed and speed of transactions. To this factor is added that the cost of each transaction is low compared to other cryptocurrencies.

Both factors come together in that dogecoin has become one of the main alternatives for tips and collaborations when it comes to artists in the digital world.

Disadvantages of DOGE

If it is about disadvantages, we can say that the fact of not having a project that justifies its origin implies that it does not have a real established purpose. This takes away a qualitative argument that gives it value.

Another disadvantage is that it does not have a preset limit on the amount of mining. This factor exposes Dogecoin to potential oversupply that drives its price down.

What did Elon Musk say about Dogecoin?

The well-known billionaire and owner of Tesla, Elon Musk, was very involved in the history of Dogecoin. However, the climax came when Elon Musk spoke on Saturday Night Live, a popular American show. There the tycoon mentioned it as his favorite and the networks exploded as well as the price.

All this revolution around Elon Musk and Dogecoin arises after a series of Tweets published by Musk that stirred opinion on social networks, the cradle of this currency.

Dogecoin Future and Predictions

Like all cryptocurrencies, Dogecoin is a digital currency that can be bought and sold as an investment, or spent as money. Although each crypto is unique, it shares some similarities with the others.

Dogecoin's closest future reveals a tip system on Reddit and Twitter to reward creators of quality content.

Dogecoin Argentina - Frequently Asked Questions

How much was Dogecoin when it came out?

The initial cost of Dogecoin (DOGE) started at 0.00026 USD. As of January 7, 2014, the base price was approximately 4,600 DOGES at $1 USD.

How much did Dogecoin grow?

On December 17, 2013, less than two weeks since the coin was launched, 6% of the total amount of 100 million DOGE had already been mined.

How do you get Dogecoin?

It is possible to acquire dogecoin with any cryptocurrency broker that includes it in its portfolio of available crypto assets.

Who issues Dogecoin?

Dogecoin is issued using asymmetric cryptography, in which a user generates a pair of cryptographic keys: one public and one private. Only the private key can decrypt information encrypted with the public key

How many dogecoins are there?

Although the digital currency was initially restricted to a supply of 100 billion, this was later changed to an unlimited supply.

What was the highest price of Dogecoin?

The highest price it conquered in its history was 0.6848 USD. After the appearance and tweets of Elon Musk.

What does Dogecoin have to do with Elon Musk?

The well-known billionaire and owner of Tesla, Elon Musk, was very involved in the history of Dogecoin. The highlight came when Elon Musk spoke on Saturday Night Live.