There was a time when the price of a bitcoin was less than a dollar. Right now, the price of one bitcoin is around 56000 dollars. Regrets not buying it when it was still in your reach. Well, you now have the chance to buy something that could be the next Bitcoin. Yup. We are talking about the new sensation, Dogecoin.
Hello, everyone. Welcome back to our chat today. Dogecoin was actually created as a joke. It was meant to be a parody cryptocurrency. It was created by IBM’s software engineer Bill Marcus from Portland, Oregon, and Adobe software engineer Jackson Palmer, who wanted to create a payment system that is fun, instant and free from traditional bank fees. They wrote the code for Dogecoin in a few hours and set up a Web site in early December 2013 with dog names and comic sans font to market the coin. Dogecoin has a face of the Cheeba new dog from the Doge meme as its logo and namesake. Within a couple of days, the price rose as people adopted Dogecoin and Christmas Day. In 2013, hackers stole millions of dogecoin from the wallets of many of the early adopters. In spite of this, the investment interest in Dogecoin grew and the market capitalization steadily increased. By 2018, at the height of the first wave of the cryptocurrency boom, the Dogecoin hit two billion dollars in market cap, much to the surprise of its creators. As of January 28, 2021, it has a market capitalization of around five point three billion US dollars. Dogecoin jumped nearly 300 percent in value in 72 hours as it rose from zero point zero zero zero twenty six U.S. dollars to zero point zero zero zero ninety five U.S. dollars on December 19, 2013. This growth took place when Bitcoin and most of the other crypto currencies suffering from China’s decision to forbid Chinese banks from investing in the Bitcoin economy. After three days, Dogecoin experienced its first major crash when it dropped by 80 percent due to this event and two large mining pools exploiting the small amount of computing power required at the time to mine Dogecoin.
The first major robbery of Dogecoin happened with millions of coins were stolen during a hack on the online cryptocurrency wallet platform Doege Wallet and December 25, 2013. The hacker got access to the platforms filesystem and edited it. Send and receive page to send any and all coins to a static address. However, this gave them a lot of free publicity as this incident spike tweets about Dogecoin and made it the most mentioned out coin on Twitter at the time as a remedy to those who lost their money. The Dogecoin community started an initiative to help donate coins to those who had been stolen. In 2014, the trading volume of Dogecoin surpassed that of Bitcoin and all other crypto currencies combined for a short time. Its market capitalization remained behind that of Bitcoin, though from 2017 to 2018, Doge clung briefly, reached a peak of zero point zero seventeen dollars coin on January seven eighteen, putting its total market capitalization near two billion U.S. dollars. Now, when we fast forward to 2020, one of Dogecoin is suddenly more valuable than ever, with Elon Musk, the world’s richest man, tweeting to his forty six million plus followers about Dogecoin possibly being the future currency of the Earth. It went up over 800 percent in 24 hours. As a result of all the attention it gained from social media platforms, Reddit users began pouring money into Dogecoin, sending the value up in a matter of days. Like every other first generation cryptocurrency, Dogecoin was pretty basic in its functionality at that time. There weren’t any smart contracts taking or all of these other features that are now commonplace in the market for these early coins. Their main focus was on creating a secure network. To that extent, Dogecoin succeeded greatly. What makes Dogecoin unique is the spirit in which the creators wanted dogecoin to express. Dogecoin wasn’t actually made to free the masses from oppression like Bitcoin. It wasn’t built to provide a viable alternative to Bitcoin and a market like Litecoin either. Actually, this coin was built to spread goodwill and fund throughout the crypto community.
Well, what a nice clock. Gesture Dogecoin has a lot of benefits as well. You can use this coin just like Bitcoin to quick and safely send value to anyone across the world. Over the past few years, the coins network has increased and now more vendors than ever have started to accept this unique token. Dogecoin shares many technical characteristics with Bitcoin as well. The network is safe and provides real time consensus. Like Bitcoin, hackers would have to control 51 percent of a network’s hashing power to alter the state of the blockade. If you consider the current dogecoin hash rate is two hundred three point ninety seven. Yes, this is very unlikely. Doge coins coating is actually a direct copy of Bitcoin. One of the coins founders Billy Marcus, said that it only took three hours to create dogecoin. He said that they literally used the control function to scroll through Bitcoins code and replace all instances of Bitcoin with a dogecoin. He also made a couple of other modifications to distinguish the concept, like changing the term mining to digging. Notably, Marcus decided on a one minute blog to a blog. Networks Block Time is a reference to how often a new block of transactions is added to the chain of transactions. Dogecoin users proof of work consensus algorithm to keep the network secure. However, this post system is not the same as a 256 version used by Bitcoin, instead, that the network relicense crypto technology and its mechanism. This decision was made to prevent the use of high powered Bitcoin mining rigs. You can only mine Dogecoin using dedicated FPGA and OPSEC devices. Dogecoin has no hard cash. The project was initially started with 100 billion coins in circulation due to the one minute block times. By 2015, all of these coins had been mined. The developers decided to issue another five billion at that time. Notably, Dogecoin now has five billion coins scheduled for issuance every year. Dogecoin has definitely managed to grab a critical spot in the crypto space. Gold coin is a high value buy for 2020, as predicted by the experts. But recently it has been going through disturbances as there is a lack of doget theory, which is a bridge between Dogecoin and Arthur Change. The project, which has a lot of potential to rise. Dogecoin, aims to become the default cryptocurrency for merchant payments this year itself, which will eventually lead to greater gains. Currently, Dogecoin DOGTV is trading at zero point five six forty two dollars.
The market cap of dogecoin is seven billion 189 million 730 737 seven U.S. dollars 128 billion 441 million 150000 198 doge circulating. Currently, the 24 hour price movement chart indicates that four billion 595 million 439 1431 worth of doge was trading in the coming month or two. Dogecoin is likely to rise by more than half a cent. Dogecoin has already been accepted as a means of payment for goods and services by merchants such as E gifter, all gaymer dot net and dozens of other online stores. There are even speculations of doge getting closer to currencies like Ottey and Tiaro and try. It jumped upwards from being in the top 25 within the last span of time. Even the traders are quite optimistic about this toked. Dogecoin might hover around the zero point zero two dollar mark where the maximum expected price might be zero point zero to eighty four dollars and the minimum expected price will be zero point zero to fourteen dollars. It is likely to reach zero point zero three dollars marked by the end of this year. As this is the year of the crypto currencies, Dogecoin is likely to pick up from last nineteen as people are realizing its worth and they are getting over it. Being just a crypto joke. In a five year time span, Dogecoin is likely to reach a zero point zero four dollars mark. It might reach zero point zero five dollars. Also, if it doesn’t come across any turbulence, Dogecoin price prediction suggests that the Dogecoin price is up for long term gain. The Doge price value with a five year investment. This means that in 2025, the dogecoin price is forecasted to stand at ground zero point zero forty four dollars. The lowest expected price in 2025 might be zero point two hundred eighty one dollars, and the highest expected price might be zero point zero for fifty dollars as per the Dogecoin price chart. Dogecoin price analysis, Dogecoin has the greater capability and might outperform other peer crypto currencies by 2030. It might even go up the ranking ladder and go ahead with major integrations and partnerships. This might increase the user adoption rate. By 2030, dogecoin would reach zero point two dollars, even though 2014 is a long way to go.
This is more than two decades to go. By then, dogecoin might shape itself to be one of the top five crypto currencies, given its progress is stable. Their community might turn out to be one of the best ones among its competitors. There is a probability that Doge might integrate with profitable organizations, which might increase the valuation. Incredibly, by 2040, Dogecoin might reach two dollars.