Dogecoin – wow – To the moon! – This coin has rapidly become the new MEME of the year, maybe even more.
“ Doge – wow – To the moon! “– This is the Doge MEME slang and you can find it in most crypto-currency investing forums. I guess WOW stands for the price increases of Doge-coin we have seen in this instrument lately and the Shiba Inu cuteness is just to make this coin look as friendly as a Shiba Inu. To the moon is an investor saying when referring to very profitable investments or fast growing assets they invested in like Doge coin or others. Looks like most people expect Doge to be going to the moon and popularity is pumping Doge-coin higher and higher every day. Should you invest in dogecoin? Well that is all up to you and your apatite for risk versus rewards.
What is Dogecoin ?
Doge coin or Dogecoin is a new and already very popular virtual crypto currency created initially as a play coin for games. Dogecoin reached already a capitalization of over 51 billion dollars and is growing this number fast.
What is Shiba Inu ? – a cute Japanese dog breed
“Doge” was initially the name of a cute mascot puppet portraying a Japanese doggy. Shiba Inu is a Japanese dog species that grew recently to be an online meme motive and now portrays the renowned Dogecoin.
Dogecoin versus Litecoin and Bitcoin
Derived from Litecoin the new cryptocurrency Dogecoin name comes from the on the Internet MEME called Doge. Still perceived as cheap compared to bitcoin, dogecoin and other altcoins similar have grown rapidly for this reason.
All the crypto assets virtual coins that are not Bitcoin, are also called altcoins. We can say Dogecoin is the altcoin on the year already as its growth in capitalization and popularity has been noticed in almost every household on the planet.
Looking at Dogecoin’s chart we can say that it is on a race to catch Bitcoin from the bottom and is climbing that steep difference with a spectacular momentum.
Doge coin market capitalization today
Today’s estimate of Dogecoin market capitalization was around 51.226B with a day price ranging from 0.309$ – 0.431$ according to Yahoo Finance’s Dogecoin Page.
Here is a chart i made with estimated Market capitalization of Dogecoin ranging from 2013 to spring 2021:
Doge coin has started back in 2013
Dogecoin has started back in 2013 taking the image of a Japanese mascot dog named Shiba Inu. Shiba Inu became popular on the internet in 2010 under the name of Doge just because of the existence of Dogecoin available for trade. The currency of the internet was the founder’s main idea behind dogecoin. They wanted Doge to allows users to easily transfer money online using this simple virtual token.
How to get Doge coins?
Currently uses can get Dogecoin from various places and most decode to hold the coin for hopes of future valuation. Already many users of Dogecoin have felt the consistent increase in doge price multiplying their investment drastically. Users can buy doge coins from most online trading platforms or can get paid with doge for their services and even get doge by mining using crypto-currency mining equipment and software.
Mining Dogecoin is a way
Basically you can use the power of your own laptop / pc to generate coins with mining software using your CPU and Video Card processing power. The doge mining operating process is free you will have hardware and electricity cost to take in account before you plan mining crypto currency tokens.
The developers of Doge must be hoping that Doge coins will soon become widely accepted so anybody can shop online using this token as a payment method. Most people don’t care about that as they are blinded by the spectacular gains Doge projects in the market.
Who knows, maybe it’s worth risking some money in this cryptocurrency but i would advise caution. Never invest more then you are willing to lose! The price of Doge-coin might be as volatile as the popularity of this meme. That means it could suddenly disappear out of nowhere but for now it shows strength and stamina for growth. Most people take it as a bet investing in a speculation, which, in principle, it is not a very advisable investment plan.
One Thousand Dollars worth of DOGE One Year Ago
You never know what could be the decision of your lifetime but to give you a glimpse of what could have been if you invested some spare change in this one year ago I felt I have to point this out.
Everybody who reads the news every morning in the coffee break must have noticed the frequent Dogecoin headlines. Most of these headlines highlight the price increase and valuation of Dogecoin going higher and higher so rapidly. Many readers would say they bought some Doge-coin but some of you like many others got in late into this gamble.
Here is how much you would have today if you invested some spare cash in doge same time today last year:
- Only a 10 dollars investment in Dogecoin could have gotten you around 5500 tokens, which have a value of over $2 400 today.
- Only 100 dollars of Dogecoin could have gotten you around 55000 tokens, which have a value of over $24 000 today.
- Only 1000 dollars of Dogecoin could have gotten you around 550 000 tokens, which have a value of over $240 000.00 today.
- Only 10 000 dollars of Dogecoin could have gotten you around 5 500 000 tokens, which have a value of over $2 400 000.00 today.
- Only 100 000 dollars of Dogecoin could have gotten you around 55 000 000 tokens, which have a value of over $24 000 000.00 today.
And this list can go on but i think it covers already the vast majority of wallets out there.
Would have been a profitable investment last year to invest in Dogecoin
So looking at this numbers I think it would have been a profitable investment last year to invest in Dogecoin. I don’t know if this will also be the case for Doge in 2021 as we can never know what will happen next. You should analyze the market well before you invest in dogecoin as investing in cryptocurrency often tends to be more volatile the investing in stocks for example. Invest in dogecoin not just because of the MEME going on but do your diligent research and gather all the information you can before deciding to invest in any asset. Trading on news and MEME hasn’t always worked out well for people in general.
This is one of the rare cases in my life in which I wish I was a time traveler so I can know exactly what to buy and when. But for sure time travel is not my thing and I stick to writing articles on our website. I can just imagine where I would be if I did invest my 5000 dollars vacation money in Doge-coin in 2020 as I haven’t even taken any vacation anyway as we had lock down at that time. I guess I would be richer now by more then 1 million bucks. Right now that is just just day dreaming and funny to think about. It’s funny to watch in hindsight and think about what you could have done and where you could have been if and if not..
Dogecoin with the ticker name DOGE.X or Doge-USD
Dogecoin has it’s ticker name DOGE.X or Doge-USD. So if you invest in dogecoin you will normally find this ticker names on the offer list on trading exchanges instead of just Dogecoin or simply Doge. As the price climbs higher and higher with each headline almost daily, some investor’s predictions reach even the $1 land but I am skeptical still and would expect a correction from the hype. Sure if you check the charts it doesn’t look like Dogecoin can be stopped from growing. Doge popularity is growing exponentially as the armies of Doge MEME investors out there appear to be in love with this altcoin and keep pumping it to new heights.
Doge unofficial holiday on April 20th ?
Now that April month is here Doge coin investors prepare for Doge unofficial holiday on April 20th by throwing all the cash they can find on this coin and hoping for history to repeat itself endlessly.
Let’s not forget the spark came from the famous billionaire Mr. Musk. Dogecoin’s market cap grew more then 600 percent in January 2021 after some unexpected tweets came from Tesla’s CEO, and that empowered Doge to keep on growing ever since.
Dogecoin to the Moon, a MEME to remember
By February 2021 Doge’s market cap had already doubled and again here we are in April still looking at Doge coin breaking the charts upwards like a rocket, to the Moon as they say.
There’s no denying that like most people considered cryptocurrency like Bitcoin a fable at the beginning and now regret not buying some early on, we cannot look away from Doge without thinking if it is still a good buy or we just missed the boat again.