Dogecoin (DOGE) has experienced a fantastic price increase. Did you know that Dogecoin is a crypto asset taken from a doge meme? Despite being taken from a meme that is a joke, the crypto asset DOGE is not kidding.
Talking about crypto or cryptocurrency assets, you must only think of Bitcoin or Ethereum. Naturally, because they are the most popular in all crypto assets. Moreover, they are both the crypto assets with the largest valuation in the world.
However, there are many other crypto assets that are actually interesting and that you can explore. One of them is DOGE’s crypto asset.
Begin from Viral Dog
Dogecoin was created by Jackson Palmer in 2013. His name was taken from the dog meme dog that was often viral at the time on social media.
The purpose of making this dog meme logo is to make it easier for people to recognize him. The results were proven. DOGE is a crypto asset that has many communities in the United States and other countries.
Also included in Indodax, you know. DOGE is in great demand. Especially at the beginning of 2021. DOGE volume in the Indodax market had exceeded IDR 50 billion.
Mining Base
Dogecoin is a proof of work (Pow) based crypto asset or in other words mining, such as Bitcoin and Ether (before evolution) and Litecoin. It’s just that DOGE has no limits.
DOGE is a crypto asset derivative of Litecoin (LTC) which is a proof of work block of Litecoin and Lucky Coin. Meanwhile, LTC itself is a derivative of Bitcoin.
This is why when the Bitcoin price increases, the crypto asset price will also increase.
Payment in Internet Platform
DOGE who took this meme is indeed more recognized by the community. Especially on the internet. So it is not surprising that payments on the internet, such as on websites in the United States, use DOGE.
One of them is discussion forum websites like Reddit. DOGE is used to provide tips on using crypto assets on Reddit. So, you can also get crypto assets on various internet platforms such as on Reddit.
Super Fast Transfer
Dogecoin has the advantage of faster transfers. Because Dogecoin uses a script like Litecoin (LTC). So it is natural that many internet platforms use DOGE as a means of payment.
In addition, this advantage can also be used to transfer crypto assets from wallets. For those of you who want to transfer funds using crypto assets, you can choose DOGE if you want to send them quickly.
High Rating and Volume
Dogecoin is a fairly popular crypto asset, if we look at the rating. On Coinmarketcap.com, a worldwide crypto asset rating website, DOGE is ranked 29th.
The total volume reaches US $ 770 million or the equivalent of 127 billion DOGE and a market cap of USD1.3 billion.
Elon Musk’s Favorite
Do you know Elon Musk? He is the CEO of Tesla Inc, the company of a future like making electric cars. Elon Musk is one of the most important business figures in the world today.
At the end of 202 years ago, Elon Musk once stated that DOGE is Elon Musk’s favorite crypto asset. He said so on his official Twitter account.
“One Word: DOGE”. Then he posted a picture of a doge as a smoke explosion destroying the city with the words “It ‘invitiable”. The picture also says “Dogecoin standard, Global Financial System”
From this post, it seems to give an idea that Dogecoin will destroy the current financial system.
Increased Up 592%
Doge’s crypto assets in the first week of January 2021 have increased 592% over the same period one year earlier. This means that during one year, the price of Dogecoin has increased more than 5 times.
DOGE in the first week of January 2021 touched IDR194. A year earlier, Dogecoin had only cost Rp28.
The fantastic increase has something to do with Elon Musk’s tweet. However, the increase was also due to the increase in the price of Litecoin and the price of Bitcoin. This means that the increase in the price of Bitcoin also raises the price of DOGE.
Meme Coin That doesn’t Joke
From the explanation above, it seems that the Dogecoin crypto asset is not a joking crypto asset, even though it is taken from a meme.
Moreover, this crypto asset is the most favorite for people like Elon Musk. He also believes that DOGE will be a good payment tool in the future.
Then, for you Indodax members, are you interested in collecting DOGE? Have you been lucky to collect DOGE?
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