Future of Dogecoin currency history and forecasts



18 października 2021
Future of Dogecoin currency history and forecasts

Future of Dogecoin currency history and forecasts

We hear more and more about cryptocurrencies - not only about the well-known bitcoin, but also about other currencies that are just growing in strength. These are the inconspicuous money with the image of a dog, referring to a funny meme. Is it worth investing in Dogecoin?

What are cryptocurrencies?

Cryptocurrencies, also known as virtual coins, cryptocurrency or cryptocurrency, are basically money. So what distinguishes them from the banknotes we carry in our wallets? First of all, it is not a physical currency. We will not withdraw Dogecoin or any other cryptocurrency (yet) in the bank without first converting it to one of the state currencies, for example dollars, euros or zlotys.

However, this does not mean that the money is of less value than the ringing coins in your pocket. Sometimes it is quite the opposite. The so-called cryptocurrency mining takes place through increasingly complex scripts. Each subsequent crypto is theoretically worth more than the one excavated a moment earlier. This is one of the reasons why the number of people who make a fortune by skilfully investing in crypto is still growing.

To achieve financial success, however, you need to have some knowledge of the virtual coin exchange. There is no one and only cryptocurrency - there are many of them and each has its own specific course and variable forecasts. Most often, a good decision is to invest in a currency with an established reputation. It doesn't have to be the bitcoin that probably comes to mind first. Other cryptocurrencies, such as the well-known and liked Dogecoin, also bring considerable financial benefits to their investors. The price of this currency since its inception has increased by over 8,000%.

What is the history of Dogecoin currency?

For some of us, the name Dogecoin may already be familiar or at least briefly associated with a popular series of internet memes. On the other hand, a legitimate question may arise in the minds of others: what is it? Dogecoin is just one of the many crypto currencies available. What distinguishes her is an interesting background and the sympathy of many influential people.

Doge wow, famous very much

To get to know the Dogecoin background, we need to reach for Internet satirical art, which now reaches almost every layer of society in the world. These are memes, of course. Among them, we can find a series depicting the so-called Doge, and in the Polish version - Piese. The memes show a Shiba Inu dog surrounded by text to reflect the pet's internal monologue. To increase the comic effect, the text often takes the form of colored, two-word sentences in Comic Sans font.

From meme to millionaire

The sympathy aroused by the memical Doge was used by the creators of the Dogecoin currency. Her fathers are engineers Billy Marcus for IBM and Jackson Palmer for Adobe. At the time when Dogecoin was created, i.e. in 2013, the cryptocurrency market was still very niche and aroused the interest of only a small group of Internet users. The names of the existing currencies sounded strange to most of us and did not arouse interest, and understanding how the crypto market works was also not the easiest thing to do. All this translated into low confidence of potential investors.

Marcus and Palmer came up with the idea to use Piesel's sympathetic image to reach a wider audience and cut them off from the controversy related to other currencies. This is how Dogecoin was born. The exchange rate over the years proves that the idea worked, although it was necessary to wait for the effects. When the currency entered the market, its value was not even a cent, while at its peak so far, its price rose to 73 US cents.

What is the value of Dogecoin?

However, if we live in Poland, we are probably more interested in the cryptocurrency exchange rate converted into PLN. So: Dogecoin - how much is PLN? At the end of July 2021, 1 Dogecoin cost about 80 cents.

How can Dogecoin be used?

However, exchanging currency for zloty is not the only way we can use Dogecoin. What can you buy with doggy money? First of all, products and services in stores that support cryptocurrency payments. And there are more and more of them on the world market - among them we can find not only shops and streaming platforms, but even restaurants and travel agencies.

Another popular way to spend Dogecoins is by rewarding your favorite web developers. Thanks to a wallet rich in Dogecoins, we can, for example, give tips to people offering their services on Reddit or Twitter.

Increasingly, Dogecoin is also being accepted by charities. This way of transferring the currency does not require converting it into dollars or zlotys, so the amount will not be additionally taxed.

What are the outlooks for Dogecoin?

Although Dogecoin has been present on the market since 2013, it is only in recent months that we have seen a significant increase in its value. It was started by the trend on TikTok in December 2020, as a result of which he gained the attention of Elon Musk. One mention of a billionaire was enough for the value of the currency in January 2021 to increase by 800% in one day.

Since then, Dogecoin's rate has been steadily jumping and falling with more mentions of it in the big world. In 2021, Dogecoins were already talked about by stars such as Snoop Dog and Gene Simmons, and some NBA clubs began accepting payments for tickets in this currency. One of the flights to the moon under the SpaceX program is to be financed entirely with Dogecoins, which almost guarantees that there will be a lot more going on around this currency.

Forecasts indicate that the currency exchange rate may fluctuate in the near future, which paradoxically means a good starting point for investments. When the rate is fixed, not falling or rising, no currency can be used to make money. But when the rate is high and low, it's very easy to catch a wave. This means buying a currency when it is cheaper and then selling it when it rises.

Attention! The above article neither in whole nor in part constitutes a "recommendation" within the meaning of the provisions of the Act of July 29, 2005 on trading in financial instruments or the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC and Commission Delegated Regulations (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65 / EU of the European Parliament and of the Council as regards organizational requirements and operating conditions for investment firms and defined terms for the purposes of this directive. The content contained on the website does not meet the requirements for recommendations within the meaning of the above-mentioned act, incl. do not contain a specific valuation of any financial instrument, do not rely on any valuation method, and do not identify investment risk,

We use cookies privacy