From Humble Beginnings, Dogecoin Always Maintained Authenticity

To newer investors and blockchain users, Dogecoin was originally created as a way to poke fun at the cryptocurrency craze of the mid 2010’s. Dogecoin was founded in 2013 and satirized the then-hyped doge meme. Likewise, the coin was also poking fun at other established cryptocurrencies like Bitcoin. Of course, at this time cryptocurrency was still in its relative infancy. Indeed, accessibility and investment opportunities were effectively limited to those who were ‘in-the-know’ of the blockchain world.

Much like Dogecoin itself, cryptocurrency was not taken seriously until it exploded in value in 2017. Consequently, it has become known to most of the wider investing world.

However, while Dogecoin may have started out as a joke, it has always maintained an aura of authenticity around it. Importantly, this is due to the fact that, from its inception, Dogecoin has always been an open source project. This means that anyone can view the code that makes up the blockchain and network.

Additionally, because Dogecoin is an open source project, the community has always had a large say in its development.

Dogecoin Gaining Stardom with Tech Giant Elon Musk

The coin gained traction when billionaire CEO of Tesla and SpaceX Elon Musk began tweeting about it in late 2020. As with any influencer, this move by Musk helped to boost the price of DOGE as well as increase public awareness about the coin. Shortly thereafter, the price of DOGE rose to new heights. Lastly, in early 2021, Musk appeared on Saturday Night Live and again mentioned the coin.

Since then, the price of DOGE has continued to rise, with occasional dips. Then, in May of 2021, the price of Dogecoin reached its all-time high of $0.69 per coin. So far in 2022, the price has stabilized and is currently hovering around the $0.40 mark.

What separates Dogecoin from other cryptocurrencies?

There are a few things that separate Dogecoin from other more established cryptocurrencies. First, as mentioned before, Dogecoin is an open source project. This allows for greater transparency and community involvement in its development.

Second, Dogecoin has a much faster block time than Bitcoin. This means that transactions made using DOGE are confirmed much faster than those made using Bitcoin.

Third, DOGE has a very large supply. Specifically, there are currently over 129 billion DOGE in circulation. This large supply means that Dogecoin is less prone to price manipulation than other cryptocurrencies.

Finally, Dogecoin has very low transaction fees. Accordingly, this makes it an attractive option for those looking to make small or micro-transactions.

Why is DOGE a good investment?

Dogecoin is a good investment for a few reasons. First, as mentioned before, the coin has gained the support of some high-profile individuals, including Elon Musk. This gives the coin a level of legitimacy that other coins do not have.