Today in this article we will talk about DOGE COIN which is most famous in the present time ( March April 2021).
In the whole article we will talk about the history or Doge Coin and also we will talk about the future of Doge Coin. So that we can ensure that whether it is good to hold Doge Coin for long term or not.
Birth Of Doge Coin
Doge Coin was launched at 2013 dated 6 December. Founder of this coin are Billy Markus and Jackson Palmer. They created this peer-to-peer cryptocurrency just by joke point of view, Because everyone knows if anything which is not limited than that thing will be useless from time to time.
Here main thing about Doge Coin is Its unlimited supply. Current circulating supply of Doge Coin is 127 billion at the time of writing this article.
Actually unlimited supply of the Doge Coin is not in the hand of the developer team. All about lies in the hand of miners. Anyone can mine Doge Coin as much as he want.
Unlike Bitcoin Halving, Doge Coin is free from halving rule. Mining reward never reduces for Doge Coin. So new new doge coins will continuously enter in the cryptocurrency market through miners.
Doge Coin Based Technology
Doge Coin is based on Litecoin’s Scrypt technology, a proof of work technology. Alternatively we can say that Doge Coin is based upon the Litecoin Network like technology.
Since already the based technology which is Scrypt based coin was available in this field of cryptocurrency i.e Litecoin. So Doge Coin didn’t get much attention from the point of investment.
But it is still more shocking fact for Doge Coin is that, after the launch of Doge Coin, very huge crowd from the crypto community visited www.DogeCoin.com official website.
This was the full indication about the success of DogeCoin .
Growth Of Doge Market Price
As we know , Doge Coin was launched in 2013 at 6 December, but after two week price of Doge Coin pumped around 300%+ from its initial launch price. Since it is not a big thing according to present time situation about new cryptocurrency launch.
But for Doge Coin, it was a big success because increase in the price of Doge Coin took place under a critical situation in China.
December month of 2013 was very dramatic for the Chinese people who were involved in the cryptocurrency field. The government of china was looking to ban cryptocurrency deal with bank services directly, which was really a negative point for the cryptocurrency users.
But still in that situation Doge Coin achieved high price.
So we can expect that how much trust this coin got from the crypto community.
Use Of Doge Coin and Controversy
When the Doge Coin entred In the cryptocurrency field then according to the team of Doge Coin, Main motive of Doge Coin was only for payment and donation purpose instead to focus on investment in this coin.
Even in the present time Doge is very cheap coin, if we want transfer our fund from one exchange to another exchange.
Since Doge Coin played a very good role according to the purpose of creation, but few people used this coin in wrong way.
A person named Alex Green ( actually this was not his real name, he was known with this name ) raises fund to launch his own exchange and raised fund.
But later it was revealed that Alex Green did a big scam with the name of Donation. He bought Bitcoin worth $1.5 Million.
Alex Green was caughted arrested for multiple crime including rape etc in 2016.
And sentenced to prison for 11+ years.
Market Cap And Price Of Doge Coin
Doge Coin was launched with initial price of $0.001 ( Dec 2013) but in present time price of Doge Coin is $0.18 ( April 2020) which is very high growth of this coin.
This price of Doge Coin is increasing because of the Tweets by Elon Musk about Doge Coin.
Market Cap of Doge Coin is $18.00B , which is really a big worth for a coin to have such a big trust in this field of cryptocurrency.
Here we can see a main point about the price of Doge Coin , that is, slowly growth in its price.
In the history of Doge Coin, Price which was based upon pump and dump was temporary, so we didn’t include those bubbles in this article.
Future of Doge Coin
Since already we mentioned in the very starting that the supply of this coin is unlimited, so if you are thinking to buy this coin for long term then It will not much better option.
But still if you can go with this coin with the trend then you can withdraw lots of profit easily.
In the present time Mr. Elon Musk tweeted about Doge Coin, so this coin is in trend.
Many crypto experts believes that the price of the Doge Coin will reach $1 soon because it has very good support by not only the crypto community but also by a very rich person, Elon Musk.
This support about the Doge Coin is only just assumptions. Trust level about Doge Coin can be understand easily by the market cap an trading volume.
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