We live in now a world where society wants to shift online from offline according to their needs. Like other essential items, money is also shifted from offline to online. Yes, the world moves forward to online money from physical money. And from these concepts, actually born the idea of Cryptocurrency.
But it’s not so easy, to invest in a Cryptocurrency without any knowledge. So, here we come with news of Cryptocurrency Dogecoin which you need to follow.
What is Dogecoin
Dogecoin is one of the simplest Cryptocurrency which is invented by software engineers Billy Markus and Jackson Palmer. This is simply based on the programming language c++ and the best part is it’s very user-friendly. We see in other, Cryptocurrency like bitcoin that, it’s very difficult to use for common people. But Dogecoin is completely the opposite of this. In the year of 2013, it was first introduced in the market. And from there till now it’s doing more than decent performance. Let me tell you the most important fact is that it is the 12th largest Cryptocurrency by its total market value.
Valuation
Now, it’s gonna be the most important part of this article. An investor only invests in a Cryptocurrency when he gains a decent amount of profit from it. So, if we want to see the progress of Dogecoin then we have to go back towards 2013 when it was launched.
In 2013, when it was launch, the Dogecoin price was $0.000232. And now in February 2021, it’s almost $0.05.
This increase in price ultimately shows how fast it’s growing. The price number actually shows us that, it almost increase 21,000 percent. Which we can say a great achievement by itself. But the most important thing is that Dogecoin gained 50 percent within a few hours on 4th February 2021 after the tweet of Elon Musk regarding this.
Should you invest in it?
To be honest, this is actually a very difficult question to answer. If you interested in a long-term investment then you may go with Dogecoin. As it’s progress report since 2013 is very impressive. In a long term investment, you may earn a good amount of money with Dogecoin.
That’s all for today. Stay tuned with Stanford Arts Review for getting more updates.
