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15 insights on Dogecoin – Coinnounce

15 insights on Dogecoin

Understanding some of the factors popularising Dogecoin:

The blockchain technology has undoubtedly given birth to a number of domains. One of the domains is cryptocurrencies, apart from finding its applications in many other field such as electoral process, Healthcare industry, HR industry, and many more. The cryptocurrencies are based on the Blockchain Technology and the first cryptocurrency was Bitcoin. After the spike of the value Bitcoin a lot many other cryptocurrencies were invented. At current point of time it is estimated that there are more than thousands of cryptocurrencies out there in the market. Hence it has made the investors difficult to decide which particular cryptocurrency is best suitable for them. Dogecoin (DOGE) is one of them.

Let us understand some of the key features of Dogecoin:

  1. It is nothing but just another online  peer to peer as well as decentralized cryptocurrency which can be used as an internet currency.
  2. The name Doge refers to Shiba Inu, one of the smallest among the six Spitz breed of dog from Japan.
  3. In fact, specifically it is referring to the Doge meme which had got popularised in the year 2013. The meme consisted of a picture of Shiba Inu along with foreground text which wear multi coloured.
  4. The website claims that the dogecoin community is far more friendlier than the usual ones.
  5. We can get a certain amount of Dogecoins by simply participating in the community or through the Faucets. They are the websites which provide some free Dogecoins, in order to familiarize the user.
  6. Two of the Faucet websites are Dogefaucet.com and InDogeWeTrust.com
  7. It provides a wallet facility to both the desktop as well as smartphones in the form of applications.
  8. Using the smartphone wallet is very easy, firstly install the Dogecoin wallet app from the Play Store, launch the app by opening it, and then your Dogecoin smartphone wallet is ready to use to send or receive Dogecoins along with address in the form of QR code too.
  9. Setting up a desktop wallet is also very easy. Click on below link which redirects you to download the application.
    1. For Windows: http://multidoge.org/?dl=win
    2. For Macintosh: http://multidoge.org/?dl=osx
    3. For Linux: http://multidoge.org/?dl=lin

After downloading the application install the application on your system by following the respective procedures. The procedure is a bit complicated in case of Linux, refer the official website for any clarifications. Following which the application would take 2-5 minutes to synchronise with the Blockchain network after which the wallet is completely ready to use.

  1. The current price of the cryptocurrency is $0.002888
  2. To join the community click on
    1. Reddit hotspot: http://www.reddit.com/r/dogecoin
    2. Internet chat: http://webchat.freenode.net/?nick=Shibe..&channels=%23dogecoin&prompt=1
    3. Community forum: https://forum.dogecoin.com/forum
  1. The current market Capitalisation of the cryptocurrency is $331,172,169 USD.
  1. The 24 hour trading volume is $6,495,980 USD
  2. Dogecoin is a part of FIFA world cup 2018 hosted by Russia.
  3. The cryptocurrency is supported by Russian based cryptocurrency exchange and wallet Provider Free Kassa.

More appropriately the cryptocurrency was invented by Billy Markus and Jack Palmer in the year 2013 as a fun coin. Completely unexpected by the creators the cryptocurrency spawned into a full fledged crypto of it’s own, having a community of miners, buyers, sellers, speculators, and many more. According to coinmarketcap, the cryptocurrency has been ranked at 41st position. Despite continuous speculations of the cryptocurrency becoming completely obsolete, it has managed to survive despite the losses it incurred in millions.

Many experts believe that the main reason for the popularity is the popular meme tradition that it is related to, as well as the low market price. Speculations are also being done that many of the investors are investing in cryptocurrency in a hope that the cryptocurrency would gain value and they might get their profits.

Among a lot of other cryptocurrencies in the market, this one, out of nowhere has made its position in one of the top 50 cryptocurrency coins which makes it very clear that the acceptance of a particular cryptocurrency by the community people is totally unexpected and difficult to predict.

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