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 By then the value of Bitcoin had superseded $64,000.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.

Comments

Popular posts from this blog

How Human Noise Kills Marine Species, as revealed by Scientists

Scientists have warned that the discord of noise made by humans is harming marine species .  A comprehensive assessment revealed that large noise from human activities was as harmful as pollution, overfishing and climate change .  The study that was conducted by the Journal Science exposed how marine animals can hear from far distances than they can see or smell. According to a report published in the Guardian, most of the marine life uses sound to catch prey as well as attracting a mating partner.  Prof Carlos Duarte of King Abdullah University in Saudi Arabia argued that: “Marine animal can only sea up to around 10 meters, smell up to around a hundred meters, but they can hear across the entire ocean basins.” The research concluded that sound “is very important in the marine ecosystems, and noise is pervasive, affecting animals at all levels .” The increasing cacophony in the marine habitat is interfering with how marine animals respond to various survival...

Kenya’s Quest for New Chief Justice: Unraveling Maraga’s Successor

The Judicial service Commission (JSC) began the process of seeking Kenya’s new Chief Justice (CJ) and President of the Supreme Court, on Monday April 12, 2021. 13 individuals applied for the CJ position, but after a thorough scrutiny 3 were dropped.  The process began after the clearance of ten candidates wishing to succeed former Chief Justice David Kenani Maraga. Among those cleared for interviews were: Justice Said Chitembwe, Prof Patricia Mbote, Justice Martha Koome, Justice David Marete Njagi, former DPP Philip Murgor, Justice Mathew Nduma Nderi, Senior Counsel Fred Ngatia, Justice William Ouko, Prof Moni Wekesa, and Alice Yano. JSC interviewing panel The interview panel was cast out of a nine-member bench drawn from JSC which includes: Prof Olive Mugenda (public representative/ JSC chairperson), Philomena Mwilu (acting Chief Justice), Agnes Amadi (Chief registrar of judiciary), Justice David Majanja (JSC commissioner), Justice Mohammed Warsame (JSC commissioner), ...

Why Ruto will heavily rely on Mudavadi, Joho in his reelection bid

 When Kenya president William Ruto was almost overwhelmed with gen z revolt, his landmark decision was to dismiss the entire cabinet. This occurred immediately after his refusal to sign the Finance Bill 2024/2025. Ruto endeavored to reconstitute a new cabinet, dubbed broad-based executive. He incorporated key opposition figures drawn from the ODM Party - a move that appeased the doyen of opposition Raila Amollo Odinga. Cabinet Secretaries drawn from ODM included: Hassan Ali Joho, Wycliffe Ambetsa Oparanya, John Mbadi Ng'onga and James Opiyo Wandayi. ODM is as good as dead, and Raila's age factor limits him from flying the Party's presidential flag again and has opted out by contesting as Africa Union Commission (AUC) chairman. President Ruto will heavily rely on two members of his cabinet in his reelection bid. Both Musalia Mudavadi and Hassan Ali Joho are billionaires going by their own assertion while appearing before the Parliamentary Committee on Appointments. President...