DOGECOIN : What is Dogecoin ? How is benefitted for common people

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Introduction

Dogecoin is a cryptocurrency, in 6 December 2013 a picture of Japanese Shiba Inu dog and the name refers dog to Doge with wrong English mentioned uploaded for fun and suddenly got very popular on twitter and this meme was so popular and it is count in top meme sites in same year. Jackson’s palmer software engineer of Adobe company named that meme. Dogecoin put a comment on twitter that who can help me converted in to real please contact me. After watching this comment. After that Software of IBM company Billy Markus and team of both got successful and convert a meme in digital coin which was such a big coverage. After watching the revert of audience he immediately purchase the domain with the name of Dogecoin.com and  in beginning of 2017 it gained a so much popularity and that time its market value was $20 million and in ending 2017 was left just $2 million and before 2020 it was not so high but from the march 2020 its again gaining its value in market and its increases its value due to only Elon Musk and Reddit Users. First, we Talk about Elon Musk

Elon Musk and Reddit Users

we all know that Elon Musk is a celebrity of share market and cryptocurrencies world. Because as an Elon Musk whenever left comment on any share its value got high like when he began to comment on GameStop increase its crazy leaves same as there are so many things when he left comment. Because of its powerful financial existence. Now a days he is doing continuously advertising of Dogecoin on Twitter which leads it’s in value increasing and he is also take revert from audience about Dogecoin.  So, it was talk about the rich superior man The Elon Musk how he doing helped to increase the value of cryptocurrency.

Now, We Talk about others and they are Reddit Users who well doing about the cryptocurrencies and there are two reddit groups first is Wall Street Bets and the other one is  Santoshi Street Bets here, the users are set the target to bring the value of Bitcoin to 1$, currently the price of Dogecoin 15.24 according to Inr and they make a community and by being united they are purchasing dogecoin and take a pledge not to sell till its value come to up $1

Why people investing Dogecoin?

People looking it as a community not looking for investing purpose. People who are looking for Dogecoin they build a new community and this community takes up new initiative. Like in Kenya country where there is water scarcity. Thus, to solve the problem and they take a new initiative, so this a way Dogecoin community helps in fund – raising, social causes.

Advantages and Uses

Dogecoin used as a medium of exchange in computer database system. Use of dogecoin mostly get traction on internet. It is used in tipping system on social media sites, social media users give tip in exchange of net worthy content. Reddit and Twitter users are most of use of it. It has also been used for sell a house. There are less chances of fraud because there are using different types of algorithms and cryptography. Secure than normal payment mode.

Disadvantages

  1. After complete the transaction in Dogecoin, you can’t take it back because there is no option of cancellation. So, make sure before take the step.
  2. If you lost you Id and password of Dogecoin wallet so you will lose all the money for always which was available in Dogecoin Wallet. Because you can’t recover it from other applications. So always be take care of your Dogecoin id and password.

What About Future

Expert advice is that there will be increment of 50% to 80% in future. If we invest today in it. so, it will be proved according to these criteria. People crazy about the Dogecoin and with the multiple investment its market value capital reached $86 million. It left behind the dynamic companies like Honda according to capital market value because Honda has just 54.2 million dollars. Due to its excited investors most popular trading firm Robinhood has been crashed along with this India’s biggest cryptocurrency exchange WazirX got down for sometimes.

Conclusion

We hope you understood what is it and how it began. We try to provide a good knowledge about Dogecoin we really hope you like it.

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