The correction in Dogecoin (DOGE) price could be already over as the memecoin rebounded on Tuesday. The leading memecoin fell...
Dogecoin
Dogecoin is a cryptocurrency with a friendly and fun brand image, whose main aim is to be an accessible introduction to cryptos. Billy Marker and Jackson Palmer created Dogecoin in 2013 to ridicule Bitcoin.
What is Dogecoin?
Dogecoin’s value skyrocketed over 5000% in 2021 as mainstream investors embraced the cryptocurrency. Just like Eutherium and Bitcoin, Dogecoin runs on a secure blockchain. As a result, dogecoin price varies, and it is difficult to determine its exact value as it’s worth what people are willing to pay at any moment. However, Dogecoin is transparent because every holder has a record of every transaction on an immutable blockchain ledger.
Dogecoin’s valuation once surpassed Bitcoin’s during the recent cryptocurrency market mania, demonstrating its high investor demand. Dogecoin’s rise was driven by Elon Musk’s tweets supporting the cryptocurrency, of which he is a big fan. Elon Musk’s public tweets attracted a massive number of inventors who bought Dogecoins to profit from the massive rally in cryptos.
Is Dogecoin a good investment?
Despite Dogecoin’s ironic nature, it’s considered by some to have legitimate investment potential. However, the constant introduction of new coins into the market put downward pressure on Dogecoin’s valuation.
Purchasing any Cryptocurrency is a risky affair, and that includes Dogecoin. It’s always safe to purchase a few coins and get used to the system. However, it’s probably wise to refrain from investing more than a fraction of your money into the crypto that started as a joke.
DOGE latest news
Dogecoin (DOGE) price is having a major pullback as the investor focus shifts to a new batch of memecoins. Most...
Dogecoin price is on the move once again as the Bitcoin price broke above $38,000 on Tuesday. Consequently, the memecoin...
DOGE to USD pair tanked 2.75% on Tuesday as the Bitcoin price dropped to fresh weekly lows. This negative Dogecoin...
The price of Dogecoin has reclaimed the lows of the trading range, which I mentioned in my previous analysis. This...
Dogecoin (DOGE) price showed minor gains on Monday as the BTC price started the week in the green. However, my...
Dogecoin (DOGE) price is in the midst of a recovery as the Bitcoin price is trading above $26,100 on Tuesday....
Dogecoin (DOGE) price continues to decline for the third day in a row. The memecoin was changing hands at $0.0628,...
Dogecoin (DOGE) price is in a consolidation after a major breakout a couple of weeks ago. Since the mid of...
Dogecoin (DOGE) price has been performing very well since last week. In this article, we’ll discuss the fundamental and technical...