DOGECOIN TO THE MOON | What You Need To Know

Why Dogecoin is going up in price, what it is, and how to buy it

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What is Dogecoin?
Dogecoin is a decentralized cryptocurrency that’s based on the blockchain. Created as a joke by two software engineers in 2013, Dogecoin was meant to get people interested in the crypto space by integrating internet meme culture. It was originally a fork of Luckycoin, which was a fork of Litecoin, which was a fork of Bitcoin.

Why is it going up in price?
Dogecoin spiked around 877% this week before falling back down and now it’s sitting at roughly 3 cents a coin which means it’s still up around 530%. If you invested a thousand dollars into Dogecoin just one week ago and sold at the peak, you would have made $9,000. Similar to wallstreetbets and GME (Gamestop Stock), Dogecoin’s price has recently been supported by the help of another investor community on reddit called SatoshiStreetBets. The current goal of Dogecoin is to get it to $1.

Dogecoin VS Bitcoin (Advantages)
Dogecoin has a few advantages over Bitcoin. First, it has a block time of 1 minute meaning it’s a « better » currency due it’s faster ability to confirm transactions quicker. It’s also cheaper to use but that’s partially because it’s less popular than Bitcoin and therefore there is less competition for the transactions to compete with each other to get included in the block (less competition in the mempool).

Dogecoin VS Bitcoin (Disadvantages)
Bitcoin is a deflationary currency. When miners mine Bitcoin, the difficulty increases over time and the rewards get cut in half roughly every 4 years (the halvening event). This means it’s a deflationary currency which makes it more scarce over time and therefore increases its value. Dogecoin is the opposite – it’s an inflationary currency. Each block on Dogecoin rewards miners with 10,000 coins, and because we know that the blocktime is 1 minute, we know we are making dogecoins at the rate of 10,000 coins per minute. There is no upper limit to how many Dogecoins can exist which means when there is no demand, the currency will still continue to make more of itself which will further devalue the price over time.

Dogecoin To The Moon (Reaching $1)
Currently the market cap of dogecoin (according to coinmarketcap) is roughly 3.8 billion dollars and each coin is roughly 3 cents. If we divide our goal ($1) by current price (.03) we get a factor of 33x. That is a 3,300% increase from the current price. If we multiply 33x by current market cap, we get 125,400,000,000. This means Dogecoin has to eclipse the size of the top 8 cryptocurrencies combined, which includes: Stellar, Bitcoin Cash, Litecoin, Chainlink, Cardano, Polkadot, Ripple, and Tether). The closest competitor to that would be Ethereum which has massive support in terms of app developers, products, and investors. While it’s certainly possible to get to $1, it will take quite a bit of effort and money.

Where To Buy Dogecoin
Binance, VCC Exchange, BKEX, Paribu, and Kraken. Sign up to all of these (I’m not paid, sponsored, or affiliated with any of them) because some will approve you quicker than others. Also, some exchanges can crash and you don’t want to be stuck using only one, you need to have options. Please remember they trade in different pairs (meaning you can’t buy with your dollars). You first have to fund your account with dollars, exchange to something like Tether, then exchange Tether for Dogecoin. After you buy, do not keep it on the exchange, send it to a cold storage wallet like the Nano Ledger (link above).

My Thoughts on Dogecoin
Dogecoin is here to stay. Like internet meme culture – it will always be relevant. It doesn’t pretend to try to change the world, it doesn’t promise anything because 1 doge will always be 1 doge – it’s just a fun coin that will continue to grow in line with the overall market cap of the cryptocurrency world as people get more comfortable with buying and investing. I’m not against owning any, I think it’s a fun collectible but full disclosure – I do not currently own any.

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

DOGECOIN TO THE MOON | What You Need To Know

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Comment (31)

  1. i use to believe in too much hard work to make enough money, but since crypto, now i believe its not actually about hard work. your brain and your cycle matters too.

  2. Recently I've been really interested in investing into cryptocurrency ,but It's strange how people talk about all the profits, they've been making through trading of bitcoin, while am here not making any profit at all. Please can Someone put me through on the right path or at least tell me what I'm doing wrong?

  3. Hello, I'm new to forex trade and I have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong

  4. I want to set the facts straight for viewers. I been getting replies to my comments so here they are. Larger holders of dogecoin are dumping million of shares while we keep buying and raising the price maybe. 002 or so. This large holders are making around 36,000.00 to 100,000.00 when the price rises .002.
    If you think they are going to hold their shares for you good luck. There is no market cap on doge so the rich will keep doing their thing and we will hope to see our gains up and down the hundred dollar mark.

  5. Dallas Mavericks now accepting Dogecoin as payment. Despite it is a meme shitcoin without any value, these are good news. Adoption is coming. Mad gains for those who hodl their assets long term on Atomic Wallet

  6. Bitcoin is the future of crypto and the questions traders ask themselves now is if this is right time to invest? before jumping into conclusion i think you should take a look at things first. for the past few days the price of BTC has been fluctuating which means the market is currently unstable and you cant tell if it is going bearish or bullish. while others still continue to trade without the fear of making lose, others are being patient. it all depends on the pattern with which you trade and also the source of your s!gnals. i would say tradllng has been going smoothly for me after accumulating over 8.5 BTC in just two weeks, with the tradlng strategy given to me by Walter Aarav, His methods are top notch and prof!table and he can be contacted easily on Tel. egram ( @Walteraarav0) cheers!

  7. "1:23"
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  8. I’m gonna level with you, I’m kinda dumb. But if dogecoin doesn’t have an upper limit, doesn’t that mean it has no scarcity? If it doesn’t have scarcity, how does it accumulate any significant value?


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