Indeed though it sounds like it’s currency for tykes, it turns out Dogecoin is like any regular cryptocurrency that can be bought and vended (like an investment) or used as currency (like real plutocrat). Except this bone has a quirky little internet following…
What started as a joke back in 2012 is now the hottest thing to invest in. (Sure, that sounds about right). Back also, there was a meme going around of a Shiba Inu (that’s a kind of canine). The generators of Dogecoin named their cryptocurrency after the “ Doge” meme, it came their charm, and the rest is internet history. Oh, we ’re dead serious. You can’t make this stuff up.
Bitcoinvs. Dogecoin What’s the Difference?
Both Bitcoin and Dogecoin are different types of cryptocurrency, but one is the nascence and one is the sacrifice in the world of crypto. Bitcoin is further of a ménage name — you ’ve heard about it ahead, right? Dogecoin is like that runner at the Olympics who no bone has ever heard of ahead, but they just swooped in and won the race. Now everyone wants to know who they are.
Why Is Everyone Talking About Dogecoin?
So, how did a joke on the web go on to come “ plutocrat” that shot up 500 in value in just 24 hours ( back in January 2021)? 1 Pop culture — what differently? The charm for this “ plutocrat” is a funny meme of a canine, after all. So what do we really anticipate?
But a canine meme ( fascinating as it is) can only get you sofar.However, you have to hitch your cart (or spaceship) to commodity that’s going places, If you really want to shoot for the stars. Which brings us to Elon Musk.
The Tesla and SpaceX CEO twittered a print of a canine flying to the moon — which made Dogecoin’s value shoot. He’s also called Dogecoin one of his favorite cryptocurrencies.
Also came the internet hype around#DogeDay on April 20. The idea? Get everyone to invest in Dogecoin and deluge the request to drive up the price (GameStop, anyone?).
And it worked. For a while.
Dogecoin hit$0.4252, but by the coming morning, it was down 22 at$0.3248.2 It hit its loftiest peak of$0.68 in May but dropped right back down the coming day.3 All.
Since Dogecoin was at about$0.0026 this time last time, it’s fair to say it has come a long way.4 But seeing how Doge fanatics wanted to push Dogecoin “ to the moon” — aka over once$ 1 — their rocket boat went tumbling back down to earth.
How to Buy Dogecoin
We ’re just not. But if you want to know how the heck someone indeed goes about buying this Dogecoin stuff to begin with, we ’ll tell you.