Over the long period of existence of the cryptocurrency market, a large number of coins have been created that are used to conduct trading operations. Among them, it is worth highlighting the Dogecoin token, initially it was not conceived as a serious digital asset. The coin was released in 2013 as a parody of the altcoins’ high growth.
The creators of the Dogecoin cryptocurrency are IBM programmer Billy Markus and Adobe marketer Jackson Palmer. A popular meme that depicts a Shiba Inu dog was used as a logo. The field of creating a token did not develop in any way, but over time it began to be used for quick transfers of small amounts of money with a low commission. In 2021, the value of the coin has increased by more than 8500% since the beginning of the year.
Characteristics of cryptocurrency
Dogecoin is a decentralized peer-to-peer cryptocurrency that is open source. With it, you can easily carry out calculations on the Internet. The coin is based on Litecoin and it has the same proof of work technology.
The main feature of the project is that it has a large number of loyal supporters. They trade the DOGE coin and also use it as a tip for social media posts.
Altcoin is suitable for payments, it can be used for online purchases.But it cannot be used as savings, because it has an inflationary nature. This means that there are no restrictions on the number of coins that can be mined. There are more than a billion Dogecoins in circulation, so their price is quite low.
For a long time, the rate of Dogecoin was a penny. The fact is that it was originally created as a joke, and it was not planned that this cryptocurrency would last for a long time. But gradually interest in it increased greatly, so the coin began to be actively used on the Internet.
In 2021, the price of Dogecoin has surpassed people’s wildest expectations. On April 20, the price of Dogecoin hit a high of $0.41. In May, the price increased to $0.70. At the moment, the price of a coin in rubles is 37 rubles.
Where to get cryptocurrency
DOGE digital currency can be mined using faucets. This is a people’s asset, so the developers initially opened access to the free distribution of coins.
Below are the popular platforms where the Dogecoin cryptocurrency is available:
Moondoge. To get coins, the user must enter captchas. Entry is made on Saturdays. The minimum withdrawal amount is 100 DOGE;
freedog. Within an hour, the user can earn up to 643 thousand coins. Withdrawal is carried out on Saturdays;
Doge-moonfaucet. Cryptocurrency is collected on the platform every 20 minutes. The minimum withdrawal amount is 500 coins.
Experts are confident that in the near future the price of the Dogecoin cryptocurrency will rise to $0.1. And it can be profitably used on many popular exchanges for trading.