Dogecoin was created as a fun alternative to traditional cryptocurrencies as it is inspired by the famous Shiba Inu meme that has gained worldwide fame on social media platforms due to its strange, human-like look.
We can say that associating this dog with digital currency was one of the smartest marketing decisions in the cryptocurrency world so far.
Unlike other cryptocurrencies that are designed to be scarce and thus maintain their value in the long run, Dogecoin is intentionally abundant as 10,000 new units can be mined every minute and there is no cap on the number of units that can be mined.
For example, Bitcoin consumes more energy than many countries, such as Argentina.
As you can see, what originated as a social media joke has now become a prominent cryptocurrency that has many advantages over other, older cryptocurrencies.
What is Dogecoin?
For people with limited knowledge of cryptocurrencies, all they know about Dogecoin is that it is a meme-inspired currency and that Elon Musk is one of the fondest of it on the planet!
As for crypto professionals, they know that Dogecoin is a digital currency, open source, that works peer-to-peer through the Blockchain system, which is a very secure system supervised by giant computers and complex algorithms, which are the features that are available in any other digital currency, which distinguishes Dogecoin from others. Other cryptocurrencies are that they are cheap and easily obtainable.
The association of this innovative currency with the innocent-looking dog contributed to removing the misconception associated with cryptocurrency, which believes that it is the tool of “all the financial evils in the world.” This innocent coin cannot be used for evil!
dogecoin has an amazing and vibrant community of friendly people, just like you! This positive image was further reinforced when donors raised money to help send the Jamaican bobsleigh team to the 2014 Winter Olympics in Sochi.
The fundamental part of Dogecoin is abundance – this has its advantages and disadvantages for both regular users and investors. The most notable advantage here is that the currency will be low risk and have limited volatility, however, on the flip side, it will be vulnerable to inflation and depreciation in the long run.
How did Dogecoin start?
From this currency created in 2013 until 2021, everyone viewed it as a fun “meme coin” and was loved by the pioneers of the Reddit platform, but it could not be “seriously invested in it.” Therefore – during this period – the value of Dogecoin remained limited and even Its heights have not been as spectacular as other cryptocurrencies.
That all changed completely in 2021 – Before this date, the people who took the meme seriously were the most profitable of all – This year, Dogecoin became one of the top ten cryptocurrencies in the world by market capitalization – with a total value of over $50 billion. dollars, although the value of a single currency unit ranges from fractions of a penny to a few pennies.
Since there are a lot of Dogecoin available in the world that means there are a lot of buyers and investors who will be attracted to this coin since its value is limited. Dogecoin is one of the most prominent digital currencies. Therefore, assuming that if they lose the total investment asset, their financial position will not be affected.
Moreover, the abundance factor has made the currency attractive to speculators who hope that its value will rise in a short period of time.
Unlike Bitcoin, which is limited to only 21 million coins and designed to be scarce and inflation-proof, Dogecoin is designed to be plentiful and widely available and thus has much greater chances of widespread use.
As of this writing, there are about 130 billion Dogecoins in circulation, and miners are producing over 10,000 units per minute. On the other hand, there are 19 million bitcoins and 12.5 bitcoins are mined globally every ten minutes or more. Certainly, there is a huge difference between 10,000 and 12.5.
What distinguishes Dogecoin from Bitcoin?
First, from a marketing point of view, Dogecoin is so smart that it has become world famous without spending a single advertising dollar; Its creators linked it to the famous dog meme and left the rest to the social media pioneers.
In its early days, this currency was the number one trend on Reddit and from there it moved to Twitter and then to Facebook, after which news of Dogecoin became headlines around the world. Considering that Bitcoin was launched in 2009 and achieved global popularity in 2021, Dogecoin took five years less than that thanks to its clever name, which gained a huge amount of “free” publicity.
Although this strategy seems absurd to marketing science professors at universities, we must not forget that encrypted digital currencies are basically an innovation, and therefore there are no limits to innovations related to their uses or promotion!
Secondly, the available supply and mining cap are the most notable differences between both Dogecoin and Bitcoin. Bitcoin has a maximum number of units, which makes it vulnerable to sharp fluctuations and high prices, while Dogecoin has an unlimited number of units. However, with no cap, cap, or link to another separate asset, the currency can inflate like a balloon without limits without being attached to anything.
Third, mining Dogecoin is different from Bitcoin or other cryptocurrencies. Digital currencies (higher value) require extensive infrastructure, a huge amount of energy, and complex processes to produce them. Dogecoin, by contrast, requires much less effort.
From an environmental perspective, this is very beneficial as it reduces carbon dioxide emissions and global warming. However, this aspect can completely disappear when renewable energy sources, especially green hydrogen, are integrated into the energy generation process. Bitcoin will maintain its value in the long run, while Dogecoin will depreciate.
Advantages of Dogecoin
Dogecoin has many great advantages that give it a unique position in the cryptocurrency market, including:
Ever-growing user base – Because of its low price, Dogecoin has a growing fan base. This rule includes both small investors and blue-chip companies, such as Tesla. Therefore, this means that the exchange, buying, and selling operations will rise in the future. A large segment of these users is also very active on social media platforms, led by, of course, Elon Musk! These users share the memes of this coin which further promotes these coins among potential users as well.
Easy Transactions – Dogecoin has a lot in common with Bitcoin and other cryptocurrencies which means that it is easy to use for people with limited crypto experience.
Dogecoin is listed on the stock exchange – since its inception, some of the most prominent trading platforms have listed Dogecoin on their exchanges, including, for example, the eToro platform, which is the largest brokerage in the field of cryptocurrencies and has annual profits of more than About 1.2 billion US dollars.
Dogecoin has a unique position in the market – Due to Dogecoin’s unique inflationary profile, easy mining feature, and its similarity to Litecoin, this currency has a unique position in the market.
How to get Dogecoin (XDG)?
Dogecoin is the easiest digital currency to own. Dogecoin can be obtained in two ways. The first method is direct purchase using another digital currency or with fiat currencies through exchange platforms or electronic wallets. This method is by far the easiest as it only takes a few minutes, a few cents, and a device with an internet connection!
The second method is coin mining. Although this method requires a large budget, time, and constant follow-up, it is suitable for investors who want to enter the field of digital currencies. Firstly, mining is a term given to the generation of digital currencies by harnessing computers to solve difficult mathematical puzzles and adding blocks to the Dogecoin blockchain.
Dogecoin can be mined similarly to Ethereum using a GPU or an ASIC miner. These units can be purchased from official producers or vendors, however, it is worth noting that you may face restrictions especially if you live in a country that prohibits the use of cryptocurrencies. Next, the miner has to install the mining software or update its driver. The next step is to join the miner community and connect your hardware to the mining pool.
Next, you have to set up your own Dogecoin wallet to collect the units you mine.
Finally, you can now start mining! It is worth noting that all mining pools provide you with a dashboard or even apps where you can keep track of your mining activities.
How much profit from Dogecoin?
Dogecoin reached an all-time high of about 77 cents in May 2021, a period in which all cryptocurrencies rose as a result of stimulus-fueled speculation, institutional buying, and investor fears of a coronavirus recession. However, Dogecoin crashed to 14 cents by the end of the year.
Defenders of the cryptocurrency say that it could pick up momentum again if similar circumstances occur or if more countries legalize cryptocurrencies.
The most thing that can raise the value of Dogecoin very much is that more companies accept Dogecoin in exchange for the goods and services they provide, which will make this currency more useful than being a speculative tool, as it is now.
In early 2022, Dogecoin rose by 9% after Elon Musk announced that his famous company, Tesla, would accept this currency to buy some commodities. There are also a lot of future plans that can greatly increase the value of this currency. For example, now AMC plans to accept Dogecoin as payment for online franchises and ticket purchases.
This cryptocurrency is likely to reach $0.6000 by the end of 2023 driven by simple but innovative things such as online tipping and e-service subscription payments.
There are a lot of reasons for users to keep Dogecoin for its benefits that only get better with time. The price could go up, even more, assuming the development team adds new features.
In 2024, the cryptocurrency is unlikely to surpass the all-time highs set in May 2021, however, we expect the coin to return to the $0.7300 level by the end of this year. In other words, the currency will gain 500% over today’s price.
Although it is now one of the best currencies in the cryptocurrency market and a favorite of the world’s richest people, Elon Musk, the price of a coin has had a wildly volatile past, with incredible highs followed by dramatic lows. After all, neither Dogecoin’s creators nor Elon Musk ever expected the coin to generate the mass appeal it has – nor did most market analysts expect the coin to maintain its appeal!
A few days after its launch, the price of Dogecoin increased by 300%, but it achieved its most notable increase of 8600% between January and May 2021. However, this rise did not last long, and the price of Dogecoin gradually decreased by more than 84% to reach today’s price. At the moment, the price of the coin is 0.061 USD.
To buy new cryptocurrencies, you have to understand two basic things, the right time and understanding the risks. From time to time, more cryptocurrencies are launched and more projects appear every day. Therefore, it can be difficult to identify the best cryptocurrencies that will double in price in the near future.
To help you out, we’ve done the research and developed a list of some promising coins, such as FightOut, Dash 2 Trade, Robotera, and Calvaria, which are likely to be the best performers in 2023. So now let’s start discussing them one by one!
FightOut – the digital currency that rewards athletes with financial rewards
With sitting for long hours and not doing much physical activity, it is difficult today to be in good shape and maintain your health. This is the feature of the Move-to-Earn coin that rewards you for the physical activities you perform.
The leading Move-to-Earn coin, FightOut, is gaining traction in the crypto industry as it allows you to earn income in return for living a positive, healthy, and active lifestyle.
FightOut is more than just a step tracker as it rewards users for doing any kind of sporting activity. In addition to this, the app also offers its users a variety of workouts and users can create custom-designed workouts using the FightOut app based on their fitness experience, equipment availability, and available workout time.
The FightOut ecosystem is based on its own in-app currency, REPS. The app allows users to earn REPS for completing exercises, pursuing fitness challenges, and tracking health goals.
To use the FightOut app, you don’t need to purchase an NFT, but once you create an account, a custom NFT will be created for you. Your NFT acts as a digital ID in the FightOut Metaverse, which displays your achievements and progress.
D2T – the cheapest new cryptocurrency ever
Dash 2 Trade is a platform with loads of tools and features that simplify the trading process and improve your results. Since the cryptocurrency market crashed in recent months, tools like Dash 2 Trade have been extremely valuable.
According to the project roadmap, Dash 2 Trade will be launched in the first quarter of 2023. This platform provides a large number of features for both large and novice traders alike. For example, you can take advantage of cryptocurrency trading signals, technical indicators, and use a backtesting tool. Moreover, traders can use copy trading tool to improve their results and get bigger profits.
D2T is the native token in the Dash 2 Trade ecosystem that can be used to settle subscriptions, pay for features, participate in contests, and get rewards. One of the most important features of these tokens is that they are tax deductible, so there is no fee to enter or leave the platform.
Recently, D2T was announced as one of the “future tokens” on BitMart and LBank, two popular crypto exchanges. As a result, the value of this token is expected to increase significantly over the coming period.
RobotEra – a new cryptocurrency with amazing potential
RobotEra is the most recent Metaverse project ever that has intrigued the crypto community since it was launched in 2022. This is partly due to its interesting concept. In this game, the player is reincarnated as an NFT character in this Metaverse and his goal here is to participate in rebuilding the world of Taro after it was destroyed by a cataclysmic event. The game offers a variety of fun activities in which players can participate with their fellow robots and earn money and prizes at the same time.
To participate in the RobotEra game, you must own the TARO currency, which is now available in the subscription stage at a very low price, however, the price of this currency is expected to increase significantly during the coming period, so the best time ever to invest in the RobotEra currency is now.
As you explore RobotEra, you will find many opportunities to earn more TARO coins from the events you participate in, from the concerts you attend, and from selling your lands.
Since the concept of the platform is cool, it is getting wide attention among the users. In addition, the coin has had an excellent initial sell-off and cryptocurrency experts are predicting a great future for this leading coin.
Calvaria – one of the revolutionary P2E currencies
Calvaria: Duels of Eternity is the highest rated Blockchain-based card battle game at the moment. In this game, players use their cards to defeat other players and win valuable RIA tokens based on their own tactics and strategies.
To access this amazing game, you will need to purchase a RIA token, which is now available in subscription at a great price. Since RIA coins are being sold at a fast pace, the initial sale phase is expected to end soon due to the high demand for this token.
Given this amazing success, it is clear that cryptocurrency users understand that this is a completely new project with great potential and is sure to pay off for its early investors. This makes RIA a great investment that is poised to grow and prosper in 2023.
IMPT – A cryptocurrency that helps individuals trade carbon credits
Due to increased industrial activity, more carbon dioxide is being released into the atmosphere now than ever before. This has led to an increase in global warming rates, an increase in global warming, and the melting of the Arctic ice, so that many experts believe that the Corona virus was buried under the rubble of the Arctic ice layers, and when it melted, it spread in the world, and there are many other viruses frozen for millions of years. Which may unleash in this world if everyone does not take the initiative to reduce global warming rates! Therefore, in recent years there has been an increasing focus on goods and services that do not harm the planet and that are manufactured with the least amount of harmful emissions. One of the most prominent projects that have been launched recently to reduce the problem of global warming is carbon credit trading.
By converting carbon credits into tokens and making them available to users as NFTs, IMPT.io is ready to revolutionize the world of reducing emissions. Currently, you can easily buy IMPT tokens at very preferential rates since the token is now available in the subscription phase. After that, you can keep the non-fungible tokens (NFTs), exchange them for other tokens, or sell them when their price goes up. For businesses, they can reduce their carbon footprint by connecting their online stores to IMPT.io and directing a portion of their sales to carbon offset initiatives.
Tamadoge – the leading meme currency
Meme coins have been one of the fastest growing sectors over the past two years. Meme coins are basically crypto tokens that are designed to reflect the massive popularity of Dogecoin (DOGE) after it became one of the hottest and most attention-grabbing trends in the cryptocurrency industry starting in early 2021.
Although Dogecoin (DOGE) was initially set up as a parody of cryptocurrency, meme coins are now a multi-billion dollar industry. As a result, many digital currencies and tokens such as the shiba inu (SHIB) and Tamadoge (TAMA) were born.
Another thing that’s really gotten a huge boost in 2021 is play-to-win (P2E) games, also known as GameFi. This is the idea that the metaverse is actually a virtual world where people can buy, trade and interact with each other.
The Tamadoge project combines both concepts and presents them in a single template. According to the research paper for this project. This project allows users to mint, feed, and breed NFT dogs for use in battles against other players. Over time, the opportunities to play to earn will expand to AR experiences adding value to the code and the project as a whole.
Battle Infinity – an excellent cryptocurrency in the field of play to win
IPOs are a preferred way for many to invest in cryptocurrencies as investor interest in the early stages of a project is at an all-time high and new cryptocurrencies tend to perform better regardless of macroeconomic conditions. Rather than buying digital assets that have already reached their peak, it can often be more profitable to invest early in a new project in the IPO stage when prices are low.
Battle Infinity is one of the new projects available to users in pre-sale. One of the unique aspects of this Battle Infinity project is that it offers its players a lot of earning opportunities. For example, you can bet on the fantasy English Premier League, build your own team, compete against other players’ teams, and get NFTs if you beat them.
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