Dogecoin is a Bitcoin clone that has been able to succeed thanks to the right marketing approach. In recent years, hundreds of cryptocurrencies have appeared, but only a few of them were immediately able to become famous. The basis of this cryptocurrency was laid out by the principles of Litecoin. Changes made to the algorithm are extremely small.
The popularity of this type of electronic money is achieved, for the most part, by advertising and using the famous dog in the coin logo. The currency itself is extremely unstable, for the entire time of its existence, the value has skyrocketed and fell. Along with the price, the attitude of users also fluctuated - if initially the Dogecoin cryptocurrency charmed with its dog mascot, then over time it disappointed with constant price spikes and hacker attacks.
Almost immediately after the release of Dogecoin, its price began to grow rapidly. At the end of 2013, the cost of one DOGE grew by 300%, which allowed cryptocurrency to take a place in the top ten most popular in the world. The growth trend continued in January, after which it began to subside. The token has a number of advantages over competitors.
Firstly, the coin is cheap, even a novice investor with limited capital can buy a large amount of DOGE. Secondly, there are a lot of coins - the initial issue was 100 billion DOGE, but later it was decided to make it generally unlimited. Now the number of coins has already exceeded 120 billion. Thirdly, DOGE has practical application - Netizens use coins to make personal payments and pay for goods and services on the Internet.
The main feature is a quick mining period. A reward is issued every 60 seconds. At the same time, there is no need to purchase expensive equipment - an ordinary personal computer will be enough to mine DOGE. Dogecoin has a mechanism for artificial inflation in the amount of 5% of the annual issue. This means that every year about five billion new coins available for mining appear in the system.
* Forex Rating accepts no liability for any errors in the Dogecoin Price or DOGE Information. For the most recent information please visit the Dogecoin official site.
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