ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Dogecoin Gets Tesla CEO Elon Musk Stamp of Approval, Says They Have the Best Coin

Dogecoin’s Primary Use Is on Reddit and Twitter as Tips to Reward Creativity and Sharing of Quality Content

Tomiwabold Olajide by Tomiwabold Olajide
March 3, 2020
in News
0
Dogecoin
0
SHARES
816
VIEWS
Share on FacebookShare on Twitter

Dogecoin (DOGE) is a cryptocurrency that was forked from Litecoin on 6th December 2013 showcasing a similitude of the Shiba Inu dog from the “Doge” Internet meme as its logo. What started as a “Joke Currency” rapidly expanded its online community reaching a market cap of $60 million in January 2014.

As of present, it had outrun other crypto assets to clinch 33rd out of 100 major cryptocurrencies with a market cap of $307 million.

Dogecoin’s primary use is on Reddit and Twitter as tips to reward creativity and sharing of quality content.

Its usage as a base pair coin to arbitrage trades and move coins between exchanges was overthrown with the creation of Stablecoins. Dogecoin was created with the intent of having greater appeal to the rest of the crypto-space further than the main Bitcoin audience.

At the moment, Dogecoin trades at $0.002482 as this coin has no record of scarcity.

Elon Musk who once before brandished Dogecoin in 2019 as his favorite cryptocurrency is once more giving it a stamp of approval. In a recent tweet, he is touted to have said: “they have the best Coin”.

 Dogecoin May Take a Significant Climb

Following Tesla CEO public endorsement, enthusiasm welled up for the cryptocurrency creating greater interest in its price action. The endorsement is seen as a great deal as in the past, many had traced its lesser crypto adoption to the “DOGE” Internet meme.

Spanning up to 6 years since inception, Dogecoin has maintained a stable presence steadily rising with more than 123 billion DOGE in circulating supply as “New Dogecoins” are mined every time, recording more than 31,000 daily transactions.

Dogecoin seems to be awakened in the year 2020 as it recorded active trading in February with its daily trading volumes above $150 million per day, though BKEX exchange accounts for a majority of this, 20% of coins are fixed in the top 5 wallets. This keeps outperforming each passing day.

Just like Bitcoin, Dogecoin has gone ahead in a brave feat to create a niche for itself.

Analysts believe that based on the significant progress it had made so far in 2020; DOGE may be set for a run. Although it’s been a while it had a major rally, with a significant buoy, it seems to be getting from its 48% share of Tether (USDT) trading, many anticipate a change of price regime for DOGE.

Dogecoin has leveraged on the Altcoin sentiment which stated that a new Altseason may be imminent. Its low price makes it possible to be propelled rapidly, with the innate ability to multiply Satoshis fast.

Image Credits: Shutterstock

Tags: AltcoinsDogecoinDogecoin (DOGE)Dogecoin Price PredictionElon Musk
Previous Post

DOGE Price Analysis: Dogecoin Rebounds and Consolidate Past Price Level of $0.0023

Next Post

IOTA Foundation Plans To Activate Network Next Week

Next Post
IOTA Network

IOTA Foundation Plans To Activate Network Next Week

Recent Stories

BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021
Wunderbit Trading

Wunderbit Trading – Copy Trading Platform That Suits All 

January 14, 2021
bitcoin

Top 7 Open-source Code Bitcoin Wallets

January 14, 2021
Bitcoin

Bitcoin Institutional Investors Not Worried About Recent BTC Decline

January 13, 2021
Crypto Analyst

Crypto Analyst Predicts BTC Will Plunge Below $20,000, BTC Up Over 2.7%

January 13, 2021
DOT/USD

DOT Price Analysis: Massive Liftoff on DOT/USD to $10.98, On-Chain Data Indicates a Climb in Polkadot Volume

January 13, 2021
Financial

HQLAx Secures $17.5 Million from Top Financial Institutions

January 12, 2021
Rebounds

PayPal Crypto Sales Reach New High As Bitcoin Rebounds

January 12, 2021
XRP

XRP Is an Exchange Token and Not a Security – UK Treasury

January 12, 2021
ETH Price Analysis: Rebound on ETH/USD From $905 Lows Amid Increasing Ethereum Whale Accumulation

ETH Price Analysis: Rebound on ETH/USD From $905 Lows Amid Increasing Ethereum Whale Accumulation

January 12, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 39,810.00 14.85%
  • ethereumEthereum (ETH) $ 1,239.30 15.8%
  • tetherTether (USDT) $ 1.00 0.32%
  • bitcoin-cashBitcoin Cash (BCH) $ 535.64 12.57%
  • binancecoinBinance Coin (BNB) $ 41.80 7.26%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree