Dogecoin: The First Memecoin to Be Created

12/05/2022

     Dogecoin is one of the most popular Cryptocurrencies on the market and it was also the first Memecoin to have appeared. There are many investors who have it in their portfolio. Find out what we think and what to expect from her.

Dogecoin: The First Memecoin to Be Created
Dogecoin: The First Memecoin to Be Created

What is Dogecoin?

     Dogecoin is a Blockchain-based Cryptocurrency and is very similar to how Bitcoin works, in this case: decentralization. Doge (as it is affectionately called) is the third cryptocurrency to be created, in order: bitcoin, litecoin and dogecoin.

     Like these others mentioned, Doge is part of the first generation of cryptocurrencies, therefore, they are the most decentralized because they use proof-of-work mining that works through computational power to mine, with this, computers can be distributed around the world to keep this network running.

     As anyone knows, Dogecoin is a Memecoin and has a very strong community and another curiosity about this Crypto is that it has survived all the market winters!


Who Created Dogecoin?

     Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer to be used as a faster and "fun" alternative to bitcoin.

     In fact, if we compare it to btc in its base layer, the Dogecoin network can be faster, however, nowadays, with alternative layers and the lightning network, Bitcoin can be much faster for users who have this knowledge .

     The biggest fanboy of this cryptocurrency that exists today is billionaire Elon Musk and he has already claimed to have several projects for this cryptocurrency on his social network: Twitter.


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How to Mine Dogecoin?

     As we know, nowadays it is impossible to Mine Bitcoin at Home using your PC, unless it is an extremely robust machine and your country's energy is extremely cheap. For this, some miners started to mine both Litecoin and Dogecoin.

     However, as we know, Dogecoin Mining works through computational power (just like bitcoin) and to mine this cryptocurrency, a very robust machine is also needed; plus you can hardly make it at home.

     There is a Mining device called the AntMiner L3++ which is considered by many to be the most affordable dogecoin miner on the market; it is also possible to mine litecoin with it.


Is Dogecoin Worth It?

     Thinking of Buying Dogecoin? Very calm at this time. This is an extremely risky Cryptocurrency, so we don't recommend that if you like the project - if there is one at this point - you get too exposed to this digital asset.

     Want to know if we have Doge in our portfolio? Well, we don't! Maybe we can buy a small part in the future if there is indeed an implementation of this cryptocurrency on Twitter or in other Elon Musk businesses, but for now, we are out.

     Is Dogecoin Worth It? Although theoretically it has no grounds. In fact, there is a very strong community behind this cryptocurrency; with that, they are people who believe in the active and we cannot underestimate it, after all, many projects that were entitled with "fundamentals" like Luna, today practically do not exist anymore.


What to Expect from Dogecoin: Can It Go Up?

     As incredible as it may seem, at this time of market decline, Dogecoin is stronger than the vast majority of cryptocurrencies, including bitcoin itself.

What to Expect from Dogecoin: Can It Go Up?
What to Expect from Dogecoin: Can It Go Up?

     The Dogecoin Chart, despite being bearish in longer times such as weekly and monthly, on the daily is very healthy if we compare not only with other cryptocurrencies, but also the international market itself.

     The only caveat you should have with this asset is that it is extremely manipulated by news, essentially when we put two words in it: Dogecoin X Elon Musk. Every time this happens, doge explodes up or down.

     Soon after, other memecoins followed, such as Shiba Inu and Baby DogeCoin, a real mix of short-term feelings. Therefore, it is important to know this.

     Another point: bitcoin, at the moment, is down, with that, all altcoins tend to follow it and the same will happen when btc is up, it is the leader of the crypto world and will always be like that, so it is It's really worth it to be more exposed in it than in memecoins, don't you think?


How much? Is there a future for Doge?

     At this time of crypto winter, Dogecoin is priced at $0.10 and has already reached a Price of $0.65. Bear in mind that in this market there is no certainty that the cryptocurrency will return to the same price levels, which is why it is important to analyze the fundamentals of the assets you want to invest.

     What to expect from Doge for the future? - Like it or not, much of what to expect for dogecoin in the future is related to Elon Musk's goodwill.

     He proved to be a "worshiper" of memecoins, however, his mood could change, or his investors could stop seeing him as a serious man if he did a real implementation with the doge, therefore, many variables could happen and it would be frivolous on our part to say an absolute truth about this cryptocurrency.

We recommend: Financial Education for Crypto Investors


Lucas Lippe

Passionate about the digital world, from classic marketing to the fabulous world of cryptocurrencies. The idea of freedom is fascinating and bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.


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