Dogecoin

Dogecoin, the exchange referred to as Doge. Dogecoin was born on December 12, 2013, by Jackson Palmer, an Australian branding and marketing expert, and Palmer, a programmer from Portland, Oregon, U.S. Dogecoin is based on the Scrypt algorithm, and the transaction process is more convenient than Bitcoin. Convenient, Dogecoin a confirmation time as long as 1 minute, BTC to 10 minutes, and Dogecoin more quantity, low price, transfer news speed, suitable for network reward, etc., more convenient for the public psychological needs, making more convenient civilian development. Although Dogecoin is now showing great investment value, it is still not worth investing in.

First of all, the main reason is Elon Musk. This is not the first time the world's richest man has stood up to cryptocurrencies. In February, Tesla purchased $1.5 billion in bitcoin and announced that it would accept the use of bitcoin for car purchases, and bitcoin then rose 20%. on February 4, Musk mentioned Dogecoin six times in one day in a tweet, and Dogecoin gave a face and exploded even more. The exaggeration is that on April 1, Musk tweeted, "SpaceX is going to put a literal Dogecoin on the literal moon." Whether Dogecoin can ride on a rocket to the moon in the future is unknown, but its price took the lead. But it's the first price to get on a rocket. Within an hour of Musk's tweet, Dogecoin rose by 27%. On April 15, Musk tweeted again, "Doge Barking at the Moon. at the Moon". The huge amount of attention made Dogecoin earn a lot of attention, and under the hot market sentiment, Dogecoin exploded 121% again on April 16.

Secondly, the decentralization feature, and the reversal of grassroots culture. dogecoin currently totals about 128 billion pieces, and the consequence of the huge quantity is cheap. As Musk said, "There is no nobility or inferiority, you don't need to be rich to own it, Dogecoin is the people's cryptocurrency." With the two founders giving up maintaining the project, the community autonomy is also all managed by users, which further strengthens the decentralized character of Dogecoin while enhancing the sense of community involvement. This, coupled with the high frequency of Dogecoin's use on the well-known foreign website Reddit, has led to a growing consensus on the value of Dogecoin. The Dogecoin mania that spread wildly in overseas communities has fueled Dogecoin's explosive rise.

Secondly, the decentralization feature, and the reversal of grassroots culture. dogecoin currently totals about 128 billion pieces, and the consequence of the huge quantity is cheap. As Musk said, "There is no nobility or inferiority, you don't need to be rich to own it, Dogecoin is the people's cryptocurrency." With the two founders giving up maintaining the project, the community autonomy is also all managed by users, which further strengthens the decentralized character of Dogecoin while enhancing the sense of community involvement. This, coupled with the high frequency of Dogecoin's use on the well-known foreign website Reddit, has led to a growing consensus on the value of Dogecoin. The Dogecoin mania that spread wildly in overseas communities has fueled Dogecoin's explosive rise.

Third, although the total amount of Dogecoin is large, it is still manipulated by the dealer. The top 10 Dogecoin addresses hold about 41% of all Dogecoin in circulation, so it can be said that a small number of Dogecoin holders have control over the price. The address that holds the most Dogecoin is the one that holds more than 36.5 billion Dogecoin, more than a quarter of the total amount of Dogecoin in circulation. Rumor has it that Musk, the self-proclaimed " Dogecoin CEO", is the biggest dealer of Dogecoin. On February 15, Musk tweeted to encourage big players to sell Dogecoin, and Dogecoin fell in response. So, Dogecoin's relatively low market capitalization and highly concentrated holdings make Dogecoin extremely susceptible to extreme market conditions, with explosive rises and falls all at the whim of the banker.

Due to the lack of scarcity, dogecoin is issued in unlimited quantities, and each block found will only cut the value of each Dogecoin coin. dogecoin has a small trading volume and is extremely unstable, and was pulled up by 1000% in January, even without a white paper, so it is dangerous to follow the trend of investment. It is better to invest bitcoin in all of cryptocurrency, not only because it is safer, but also it has larger volumn, which means the price are not depend on any single person.

Dogecoin

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