Dogecoin is a joky cryptocurrency that has existed much longer than its founders supposed. There has been too much gossip around this currency in recent months. The reason is that the coin rate has grown more than 200 times since the first four months of 2021. We will discuss the DOGE cryptocurrency, its founders, future, and help you find platforms that deal with this crypto.
The Story of Dogecoin Creation
The Dogecoin journey began on November 27, 2013, with a funny tweet by Jackson Palmer. It sounded this way, “Investing in Dogecoin is, pretty sure, the next big thing”. Surprisingly, he received a lot of positive feedback. A few days later, he bought the domain dogecoin.com and drew a logo (a famous dog meme).
He didn’t have the software, and he didn’t know what to do next. A couple of days later, programmer Billy Markus learned about Dogecoin. In just three hours, he wrote the code for a new coin. The prototype was the Luckycoin cryptocurrency, based on Litecoin, the original Bitcoin fork. That is, roughly speaking, Dogecoin is a light version of the former cryptocurrency. Thus, on December 8, 2013, a working version of the Dogecoin cryptocurrency was released.
Dogecoin in 2021
Dogecoin cryptocurrency gained maximum popularity in 2021. It is due to the billionaire, inventor, and active Twitter user Elon Musk. Of course, DOGE has other public fans, such as rapper Snoop Dogg or Kiss frontman Gene Simmons, but Elon Musk is still the one who makes a lot of noise around it.
As of July 2021, Dogecoin ranks 8th in the global cryptocurrency rating. Its capitalization is $26.4 billion, and the daily turnover exceeds $1 billion. The coin has a big community and has outgrown the status of a “crypto-meme”.
As of this writing (July 21), the coin rate is $0.20, and the all-time high was fixed on May 7, 2021, when one DOGE cost $0.68. At the beginning of the year, the price of the coin was only $0.009. The rate boosted due to Elon Musk, who promoted this coin in a rather aggressive manner. He posted tweets about this project many times, and every time the coin rate boosted. He even suggested a poll asking: “Do you want Tesla to accept DOGE?” Almost 4 million people took part in this poll, and the majority gave a positive answer.
On May 9, he visited the popular American Saturday Night Live show, where he performed a miniature jokingly calling Dogecoin a “scam.” As a result, the cryptocurrency price fell by almost a third – from $0.7 to $0.49. For this behavior, Musk has become a negative character in the cryptocurrency community. Many believe that he intentionally created hype for material gain or just for fun.
Where Can I Trade Dogecoin?
DOGE is one of the most popular coins on the market, so it is present on almost all centralized exchanges. The most significant liquidity is offered on Binance (about 24%). Also, over 5% of DOGE trading volume is on the Huobi Global exchange. In addition, DOGE is available on Binance US, KuCoin, Coinbase, Bithumb, FTX, Kraken, etc.
Regarding decentralized exchanges, the easiest and most speedy way to convert DOGE to THETA is using the Godex platform. There are no upper limits, so the exchange will meet the needs of large-scale investors.
To exchange cryptocurrencies on the Godex platform, you don't need to register. You just need to go to the official website. The interface is as simple as possible. Godex works transparently, with fixed commissions and no hidden fees. If you want to trade DOGE anonymously, quickly, and profitably, then the Godex decentralized exchange is what you need.
When buying Dogecoin, you need to understand that this is a very volatile asset. Its rate is very much dependent on the media landscape. There is no new technology behind the coin, it is not deflationary, and, therefore, it only exists as long as there is noise around it.
The Dogecoin rate may have already reached its highest point for this year. Its further movement will depend on the statements of Elon Musk and various PR campaigns in the media. Back in 2020, TikTokers tried to launch a flash mob offering other users to buy Dogecoin to raise the value of the cryptocurrency to $1, but, so far, this threshold has not been crossed.