What is Dogecoin?
*Dogecoin is a cryptocurrency, like bitcoin or Ethereum- although it’s a very different animal than either of these popular coins. Dogecoin was originally created at least in part as a lighthearted joke for crypto enthusiasts, and took its name from a once-popular meme.
*Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog.
*”Doge was really started to poke fun at Bitcoin,” said Pat White, CEO of Bitwave. In its early days, a community of enthusiasts arranged publicity stunts to raise Dogecoin’s profile gathering funds to send the Jamaican Bobsleigh team to the 2014 Olympics, for instance, or sponsoring NASCAR driver.
*In early 2021, Dogecoin gained cult status on Reddit’s wall street bets message board- the prime instigator behind the GameStop affair in January-where enthusiasts had promised to propel its value “to the moon”(that was before all discussion of crypto was banned on the subreddit).
Founder of Dogecoin
*Billy Markus and Jackson Palmer are software engineers who co-founded dogecoin in 2013.
*At the time, Markus was working for IBM from Portland, Oregon, while Palmer was a member of the Adobe System Marketing Department in Sydney.
*Markus then reached out to Jackson Palmer and jokingly tweeted, “Investing in Dogecoin, pretty sure it’s the next big thing.”
*Ten days later, the pair were in touch about developing it together.
*After the launch of the “joke currency” their notoriety skyrocketed as dogecoin.com received over a million visitors within the first 30 days
How many Doge exist: the mining and circulation supply of Dogecoin
*At the moment, there are over 128 billion dogecoin in circulation and it seems that no upper limit has been implemented, unlike Bitcoin which has a limit of million coins issued in its circulating supply.
*Initially, however the decision had been to have a supply limit of 100 billion coins, which would already have been far more than the top digital currencies have allowed .
*However, in February 2014, Dogecoin’s founder, Jackson Palmer announced that the limit would be removed in an attempt to create a steady reduction in its inflation rate over time.
*The issue of not having a limit in the supply has been a source of debate on the very subject of inflation and deflation in the meme cryptocurrency.
Dogecoin features
*Speed and cost-Doge boasts fast transaction and low transaction fees.
*Unlimited offer- The coin was originally limited to 100 billion coins, but was later replaced with an unlimited supply.
*Dogecoin community- over 100,000 Reddit members are known for their friendly and welcoming group.
*Charity- Doge users use currency for good deeds. For example, they raised over $25,000 in dogecoin to help send a cash-strapped Jamaica bobsled team to the 2014 Olympics. They also partnered with a water charity to mobilize thousands of people to access clean water in Kenya.
Dogecoin Facts
1.Dogecoin’s creation and development was inspired by lucky coin.
2.Since the start, Dogecoin has had a large following and supporters.
3.Dogecoin has one of the fastest mining processes among all cryptocurrencies.
4.Dogecoin has an unique name with an interesting background and story.
5.The supply of dogecoin is very large and extensive compared to the competition.
6.Celebrities and many public figure are big fans of Dogecoin.
7.Dogecoin is more readily used by business worldwide.
8.Elon Musk, one of the world’s most popular business entrepreneurs actively supports Dogecoin
9.Dogecoin is easy, affordable, and convenient to use as a cryptocurrency.
10.Dogecoin encourages meme-based cryptocurrency because of its humor.
Future analysis of Dogecoin
*Now Doge support at 0.6920-0.6980, if we hold this support area next support at 0.04080-0.04140 next support at 0.0017.
*Now Doge resistance at 0.08812 if we break here with volume hold this area next resistance at 0.12400-0.12600 next resistance next resistance at 0.16300-0.16500, next strong resistance at it take 2-3 time rejection here 0.34200-0.34400 next resistance at 0.4600-0.46200.
*Dogecoin is good for long-term it gives 100 times return to investor in last 2 years .It has great potential to gave good return in next 3-5 year. It gave 20-30x return in next 3 year.
*Always try to invest for long-term. In short it’s not necessary you have make profit because market is high volatile if your vision is long-term you will make good profit gor dogecoin.
*Always try don’t invest your all amount in single coin try to diversify your portfolio, I share some post for analysis read and share it.
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