The Dogecoin is a cryptocurrency that was originally formed in 2013 but in the past few months, it has gained popularity due to many reasons. The dogecoin witnessed an ultimate high of $ 0.45 in the past weeks but suddenly dropped to $ 0.16 after reaching its all-time high price. And after some time the dogecoin again skyrocketed to $0.44 and now it is one of the favorite cryptocurrencies of investors who want to invest in the Crypto market and buy those cryptocurrencies that can bring maximum revenue for them.
Just like other cryptocurrencies, the doggy coin is among the list of private Investments of people who constantly invest their money in the cryptocurrency market. other people currencies like Bitcoin ethereum tether and others and dropping down in the value due to many e new policies and conditions while the dogecoin is still holding good in the market. but if we compared talking to other cryptocurrencies like Bitcoin it is still far behind in terms of market value. Bitcoin, which is the biggest cryptocurrency in the market currently Has many advantages over dogecoin. You can easily Mine free bitcoin online and make more money rather than spending money to buy the cryptocurrency. on the other hand, dogecoin can also be mined, but there are fewer resources to mine dogecoin as compared to Bitcoin. If you want to know the real reasons behind the popularity of cryptocurrency you can keep reading the article below.
Advantage Of Being A Comical Currency
Nobody knew that the cryptocurrency that went life in 2013 will be a major head in the community due to a comical nature. The logo of the cryptocurrency added to the overall popularity of the cryptocurrency in the initial period. Now in 2021 due to many memes that get shared on the internet helped dogecoin to gain more popularity among people.
The Initial Hack
When the cryptocurrency has launched some group of people hacked into the dogecoin wallet and took around 11 million dogecoins. The community of the dogecoin started an initiative called “SaveDogmas” to bring back all the stolen dogecoins. The community named shibes pulled around 15 million dogecoins with the combined efforts of the team. This incident became very famous and put the doggy coin cryptocurrency in the LimeLight.
Promotions By Famous Celebrities
There are many celebrities from all over the world who are interested in buying dogecoins due to their popularity and good returns on investment. Many big names have promoted the cryptocurrency after purchasing it due to its free promotion from such big names. This newest cryptocurrency skyrocketed in the market and now people are more interested in buying dogecoins as compared to big names like bitcoin and ethereum.
A Very Caring Community
The community also made its name due to its helping and caring nature and providing utility services to others in the world. In 2014, the company raised donations through the name DOGE donations which was planned to be used for charitable purposes only. For the first time when the company collected around $30,000 as donations, they decided to use it to help the Jamaican bobsled team to Sochi in the 2014 Olympics. The news got viral and many big publishers like the Guardian, and the Business Insider put it on their story. After this incident, the dogecoin currency was slightly up in the transactions as compared to the big names like bitcoin and ethereum.