Skip to main content

Dogecoin Joke is Over as Super Spike Strikes, Raising Crypto Fad

Dogecoin started as a fun, when engineers Billy Markus and Jackson palmer crafted a joke out of Bitcoin, into becoming a popular crypto-enterprise. The cryptocurrency was drafted from the ‘Doge’ meme in 2013.  In reality many people have made huge amounts of money from buying Dogecoin.

The cryptocurrency, which started as a pun, has gone the extra mile, against all the uncertainties to surge up to the total market value of $45 billion on Friday. The price has shocked the digital market in the recent times after it shot up by a whopping 300% increase in price.

The meme depicts a Shiba Inu dog in conjunction with ridiculous phrases in variegated rib-tickling Sans-font text. On Friday, each of the cryptocurrency token surged to a record value of 43 cents. Its value was 5 Cents in March.

The value of Dogecoin shot up days after Coinbase went public.  Coinbase was listed on the NASDAQ on Wednesday. By then the value of Bitcoin had superseded $64,000. Cryptocurrency is gaining traction, as world billionaires such as Elon Musk and Jack Dorsey are considering it as a worthy venture.

The combination of online posters, Musk’s tweets and Reddit are the major cause for the increased price of Dogecoin.

On April 16, 2021 Elon Musk, the undisputable world’s richest man, tweeted: “Doge Barking on the Moon.” Musk has always referred dogecoin has his favorite cryptocurrency. In February, he regarded it as “The People’s Crypto.”

What is Dogecoin

Dogecoin is an open source peer-to-peer cryptocurrency that is globally favored by shibas. It is a form of digital money that functions almost like bitcoin. 

Digecoin is a derivative of Luckcoin which pronged from Litecoin and makes use of Scrypt algorithm. It is the fastest of all other forms of blockchain technology because of its 1 minute block interval. According to Dogecoin, the supply of the coins has no cap and can bloat infinitely.

Why Dogecoin is Cheap?

Dogecoin is cheap because of the amount of the coins in circulation. The chain of supply is great and more than 20 million coins have been mined. According to Coinwartz about 99 Dogecoin can be mined within a day.

Dogecoin mining cannot make one rich within a fortnight, but it is fast gaining traction and might be a great venture to invest in.

Labels:

Comments

Post a Comment

Popular posts from this blog

How Musk's Neuralink Blindsight will allow the blind to see

  Scientists are still stunned by Elon Musk's plan to enable blind people to see, using his Neurolink's Brain Computer Interface chip dubbed Blindsight. Neurolink has already partnered with top Spanish scientists and US Santa Barbara to make a device called Blindsight, a smart Bionic Eye powered by brain implants and AI. Blindsight got the approval of the US Food and Drug Adminstration (FDA), though there have been no human trials. Musk confided that Neurolink will perform its first human implant of Blindsight at the course of 2025. Will Neurolink's Blindsight allow Blind People to see? Blindsight is designed to enable people with total visual impairment, as a result of damaged optic nerve but with intact visual cortex, to see. This is enhanced by bypassing the optic nerve and stimulating the visual cortex to create a visual perception. Visual cortex is part of the brain that receives, integrates and processes visual information relayed from the retina.  Blindsigh...
Post a Comment
Read more

How Human Brain will replace Smartphones in communication

Elon Musk envisiges a future where smartphones are obsolete and communication happens directly through the brain.  According to Musk, Neuralink the brain-computer interface that his company is developing, could eventually replace phones entirely. Imagine navigating the internet, sending and receiving text messages, or even making calls, all with just your thoughts. This sounds like fictional science. However, Musk believes the integration of humans and artificial intelligence is a necessary mileage for human evolution.  Neuralink’s potential extends far beyond convenience; it could disrupt the field of medicine, communication and the way we interact with technology forever. The future Musk envisions is not just coming, it's already in the pipeline. NEURALINK will make Smartphones completely obsolete. Neuralink is a company that was found by billionaire Elon Musk and develops brain-computer interface technology. Its goal is to connect the human brain to computers so as t...
Post a Comment
Read more

Why President Ruto risks being impeached

President William Ruto is treading a dangerous political path. His recent allegations over bribery in parliament might hound him out of office. The president has found himself in a political quagmire over his public expose on rampant graft in parliament. Legislators drawn from the National Assembly and the Senate were astounded by the manner in which the Head of State exposed their nakedness in the public gallery, instead of initiating prosecution process with the relevant mandated authorities. Majority of MPs were of the opinion that the president should have prosecuted his case with the relevant bodies established by the Constitution tasked to deal with corruption cases. National Assembly Speaker Moses Wetangula and his Senate counterpart Amazon Kingi have been directed by a section of MPs to summon the president to shed more light over his aspersions or risk being impeached. Homa Bay Senator Moses Kajwang' and his Nairobi colleague Edwin Sifuna were irritated by what they...
Post a Comment
Read more