There is no easy explanation behind the rising prices of Dogecoin, which was created as a joke riffing on the 2013 cryptocurrency frenzy with the Shiba Inu dog breed as its logo. … The Dogecoin-funded mission slated for 2022 is called “DOGE-1 Mission to the Moon.”
Thereof, why is Dogecoin a joke?
Dogecoin started in 2013 as a joke — a nod to the “doge” meme that was all over the internet at the time. But it’s no longer a joke: It’s the fifth-largest cryptocurrency in the world, with a market value just south of $70 billion, according to Coinbase.
Keeping this in view, what is Dogecoin worth?
CoinGecko says Dogecoin has jumped more than 800 percent over the last month and is now the fourth-largest digital currency, with a market capitalization of $73bn.
Is Dogecoin a good buy?
Dogecoin is at a low price right now and also considerably popular. Hence, it is a good bet, but as an investor, one needs to know when to exit from it,” he affirms. … “Investments in dogecoin is like any other form of cryptocurrency and should be only be done up to an amount that one is fine with losing,” he suggests.
By comparison, Bitcoin benefits from scarcity. … In other words, both Bitcoin and precious metals have value because they are rare and people want them. No one can say for certain whether Bitcoin is a good investment. But it certainly appears to be a better investment than Dogecoin.
NEW YORK – Dogecoin, the digital currency advertised as the one “favored by Shiba Inus worldwide,” is having its day. Fans of the cryptocurrency are touting April 20, long an unofficial holiday for marijuana devotees, as “Doge Day” and imploring each other to get its value up to $1.
Dogecoin is a cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. Blockchain is a distributed, secure digital ledger that stores all transactions made using a decentralized digital currency.
Dogecoin used to pay for lunar satellite mission with SpaceX.
Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency dogecoin as payment. In a tweet he said the commercial space exploration firm will launch the “DOGE-1 Mission to the Moon” early next year.
“People should not invest their life savings in cryptocurrency, to be clear,” Musk told TMZ. … Musk, in particular, has supported dogecoin, a cryptocurrency that started as a joke which portrays a shiba inu dog, as he told TMZ.
In February, Musk posted that he had bought Dogecoin for his son “so he can be a toddler hodler” – crypto slang for “Hold On For Dear Life”, and acknowledging the extreme volatility that is a hallmark of crypto prices.
Dogecoin might hover around the $0.02 mark, where the maximum expected price might be $0.0284 and the minimum expected price will be $0.0214. It is likely to reach the $0.03 mark by the end of this year, as this is the year of the cryptocurrencies.
“It’s an unstoppable financial vehicle that’s going to take over the world.” Elon Musk loves Dogecoin:But is it a safe investment for you? Pressed again, he said, “I keep telling you, it’s a cryptocurrency you can trade for conventional money.” “Oh, so it’s a hustle?”