One cryptocoin is not the other. There are now an enormous number of different cryptocurrencies on the market and new ones are still being added every day. It is of course logical that not all coins can be a success.
There are also quite a few flops in between. And which crypto should you invest in? In addition to a distinction between tops and flops, there are many more ways to distinguish between the various coins.
For example, by looking at the way in which the various cryptocurrencies originated. When it comes to that, the Dogecoin is likely to surface very quickly.
The way in which this now very valuable crypto coin was created is so bizarre that it almost seems to come from a book. The coin is the result of a joke!
Below we tell you the bizarre story about the origins of the Dogecoin.
What is Dogecoin?
Dogecoin is a crypto coin that originated as a joke in 2013. It is now a serious currency that you really have to take into account. The price of Dogecoin has risen like a rocket in recent weeks.
When the Bitcoin became extremely popular and there was a complete madness around this coin, crypto fan Jackson Palmer decided to make a kind of parody of the Bitcoin.
Not to improve the Bitcoin or to make a lot of money with it, but simply as a joke with a serious undertone. Palmer wanted to show how the madness surrounding cryptocurrency had completely gone through. He was convinced that many investors would put huge amounts of money into crypto coins with quite a lot of risk.
However, he still had to come up with a symbol for his new digital currency. That became the dog Doge who had become a huge internet hit in the months before.
The owner of the dog had posted a photo on the internet in which Doge raises his eyebrows in a funny way. This photo went viral and became a meme. Jackson Palmer decided to let the dog become the symbol of his coin and also called the coin Dogecoin.
Value of 50 million
However, Palmer’s joke was misunderstood by a lot of people. As a result, many investors were genuinely interested in the new currency and decided to buy it. That literally made it a very ‘expensive’ joke.
Within less than two months, the Dogecoin represented a value of no less than 50 million euros! The special thing about it is that the first investors were mainly people who wanted to raise money for charities.
There was a Dogecoin foundation. Of those first huge amounts of profit, two bobsleigh riders from Jamaica were funded so that they could go to the Olympics. Furthermore, a water project in Kenya was supported by this foundation.
Subsequently, the price of this special coin remained fairly stable for years. A Dogecoin was almost continuously worth about $ 0,0002. At the beginning of 2018, this suddenly changed again and the price rose enormously in a very short time.
The Dogecoin was suddenly worth no less than 80 times as much, bringing the rate to 0.016. After that, the cryptocoin fell quite a bit, but the tone was definitely set towards adulthood. According to various experts, Dogecoin is one of the thirty most valuable crypto coins.
Incidentally, it is also striking that founder Palmer already decided in 2015 to leave Dogecoin. He felt that it was too much just about money and therefore no longer felt at home in the world of cryptocurrency. Incidentally, he never owned Dogecoins himself.
Dogecoin price in 2021
In early 2021, the Dogecoin story got a bizarre sequel. None other than Tesla CEO Elon Musk tweeted the rate of the Dogecoin to an all-time high. The value of the crypto coin rose by 1100 percent! Elon Musk is a big fan of crypto coins, especially Bitcoin. The influence of the richest man in the world has had a huge impact on the price of crypto.
Then on Reddit, just as happened before at Gamestop, there was an appeal to stock a lot of coins. Gamestop’s story was that a while ago there were calls on Reddit to stock a lot of shares in this company.
The reason for this was that Wall Street had bet that Gamestop would be worth less. The call to buy shares increased the value of Gamestop with peaks of more than 90% per day!
The same thing is happening with the cryptocurrency dogecoin.The crypto coin is now very popular, this is evident from the fact that the subreddit was able to welcome 384,000 new members in a week.
Course Dogecoin through the roof
On Twitter, people went wild and were happy that they had an influence on the price of cryptocurrency dogecoin. The crypto coin was bought en masse in the hope that the price would go through the roof. Half an hour after Musk’s Tweet, the price rose by no less than 44%.
The price rise is nothing compared to that of the end of January when the currency rose 1100 percent. At the time, doge was one of the seven largest cryptocurrencies. Doge’s rate was then $ 0.07 where it started at $ 0.004 at the beginning of 2021.
Now that Dogecoin is in the news so much and the price is on the rise, you naturally want to know what the expectations are of this crypto coin. What the Dogecoin price expects is that remains a difficult question.
If we look at the short term, the price will probably rise further in 2021. We deduce this from the fact that more collaborations will arise and new products will be developed from Dogecoin.
Because the demand for Dogecoin is high and more and more partnerships are being entered into, analysts expect the crypto coin to show a significant increase in the period 2021 – 2025.
Is there a price forecast for Dogecoin? No that is impossible.
With an increase of 51% at the beginning of 2021, we can say that it is a currency that you should keep an eye on.
Due to the developments and innovations of the Dogecoin, the expectation for 2021 is good and if we look at the longer term, this positivity will increase further.
What is Dogecoin?
Dogecoin is a crypto coin that originated as a joke in 2013.
Where can I buy Dogecoin?
You can buy Dogecoin from most online brokers.
What is the Dogecoin expectation?
There is no suitable answer to this question, but analysts predict that the price will rise sharply until 2025.