Introduction
Last year, Dogecoin experienced a big exploration when it reached 69 cents in a short duration after hitting 2 zeros ( from $0.0074 to $0.0689 ). Its value grew by around 216 percent.
This meme had been created in 2013 by software engineers Billy Marcus and Jackson Palmer just for a joke and making fun of Bitcoin and other digital coins. But as we know right now, it is becoming famous and bigger. It is also created to be a Bitcoin alternative, but with different analytics, which means, Bitcoin has a limited supply while Dogecoin has an unlimited supply.
Dogecoin has a system mining every day that really differs from Bitcoin ( about 10,000 Dogecoin ), making this coin a great value and bigger than many cryptocurrencies.
How Dogecoin will soar after the last Elon Musk tweet?
When the matter mentions cryptocurrencies, Elon Musk is a vocal commentator on social media. His tweets have frequently moved prices, both up and down. Plus, he has generally been a supporter of DOGE.
Tesla merch buyable with Dogecoin
Tesla will accept meme-based cryptocurrency Dogecoin as payment for its merchandise. Tweeted by Elon Musk on 13th January. After that, DOGE surged by %12 meaning its price jumped from $0.152 to $0.203 giving the advantage to surpass Avalanche by taking 11th place this January.
Today, the market cap of Dogecoin is holding more than 22 billion USD giving a great advantage to stay closer to the top 10 cryptocurrencies according to the Coin Market Cap.
In fact, Musk has been supporting Dogecoin since 2019. Also, he has repeatedly mentioned working with the DOGE team. And according to his announcement, He only owes Bitcoin and either Dogecoin on his crypto portfolio.
Generally, Elon Musk Does not only tweet and mention Dogecoin and Bitcoin but also mentions altcoins like SHIB, but that does not mean he supports all coins he used to mention.
Seemingly, DOGE to be equal $1, its market cap should be around 180 billion USD. Last year, it could reach $80 billion making DOGE hit 68 cents.
What is the Future of Dogecoin?
Dogecoin was first created to be a joke and a Bitcoin competitor, but it has been developing since it becomes one of the top cryptocurrencies. In addition, many businessmen used to hold it. Billy Marcus, the co-creator of DOGE, revealed he owns around 220,000 tokens which equal today $364462 in the market. Not only the DOGE team who invests and holds it but also many.
We shouldn't forget that mining Dogecoin is under a process that involves the usage of highly complex digital code set up to check all the information entering the cryptocurrency blockchain. Once the coin is mined, the blockchain network will confirm all the confirmations and the new transactions to the ledger. Miners have become very sophisticated over the past years, using complex machinery to speed up mining operations.
Mining Dogecoin is divided into 3: Solo Mining, Pool Mining, and Cloud Mining.
Conclusion
Based on Dogecoin mining, Musk is a DOGE supporter, and Tesla will accept merchandise with this meme, the future of Dogecoin is mentioned in these 3 tips. All in all, Dogecoin will probably reach $1 USD, and also possibly jump to $10 USD this decade. If you are planning to invest your money in this cryptocurrency, you are more educated right now about tips and news updates.
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