Dogecoin took off quite radically ever since Elon Musk became an avid supporter of this cryptocurrency. The founder of SpaceX & Tesla, Elon Musk has been in support of Dogecoin since its early days and it is quite evident that no other altcoins in existence have been able to compete directly with Dogecoin. We are all well aware that the prominence of Bitcoin paved the way for thousands of new cryptocurrencies to come into existence. They not only delivered stiff competition to Bitcoin but also addressed the subtle problems of customers quite unequivocally. The future of Dogecoin is secured without any shred of doubt and considering the imminent effects of Metaverse, the world will witness a host of new advancements pretty soon.
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Dogecoin was an accidental success which rules the market now
Bitcoin is widely renowned for its volatility and yet millions of new users do not hold back from jumping into the pool of traders and investors. The recent advancements in the crypto industry have been quite of a spectacle and the trend seems to be on positive growth. Dogecoin, on the other hand, has delivered an exceptional performance due to its faster mechanism and this digital platform is now being heavily favored among online users. Dogecoin was introduced in 2013 with a light-hearted joke that was pushed into the mainstream media and it eventually drove the popularity of Dogecoin on a whole new level.
The inception of Dogecoin is equally riveting and worth remembering
nft-profit.me had previously mentioned the relevance of Dogecoin and how it is about to lead the way for other emerging technologies. November 2013 was the month when Jackson Palmer ventured to develop something that might compete with the emerging crypto industry. Little did he know that just started as a mere joke will later be turned into a full-blown cryptocurrency. Dogecoin was materialized by the combined efforts of Billy Markus and Jackson Palmer. It became one the most light-hearted cryptocurrencies along with being highly approachable. The level of complexity in Dogecoin is almost negligible which is why it is being highly favored among online users.
Market Capitalization is a prominent factor that defines the success rate
As far as market capitalization is concerned, Dogecoin has hit several milestones along the way and has successfully competed with the best. Its valuation was recently estimated to be around $88 billion which continues to rise every single month. CoinMarketCap.Com is a reliable website where users can easily track the recent developments in the market value of any cryptocurrency that they want to analyze. The significant contribution made by Elon Musk in helping Dogecoin to gain a supreme status cannot be overruled either as he has been pretty vocal about the benefits that users can leverage through Dogecoin.
Internet meme that went on to dominate the market trends
The common perception of cryptocurrencies being highly complicated and complex was successfully overcome by Dogecoin and now it happens to be in the mainstream media quite often. The name alone of this cryptocurrency stems from a popular meme that was being heavily circulated on the internet. Moreover, when it comes to the most active communities of cryptocurrency online, Dogecoin always holds the top spot in that domain. Thousands of online users express their beliefs and experiences with Dogecoin which helps the developers to implement any required changes that are usually suggested by such prominent users. Tipping services facilitated by Dogecoin are also being heavily lauded by the users.
What are the implications of Dogecoin and how can you benefit from it?
Users will be able to tip the contributions & posts as far as deserving recognition is concerned. Hence, making an impact through Dogecoin is way easier than it has ever been with Bitcoin. The developing work of Dogecoin had been halted in the past as well when Jackson Palmer decided to go abandon the project to pursue greater interests. However, it was later picked up and diligently worked upon to help the cryptocurrency claim a larger market share with the substantial customer base.