Dogecoin, or DOGE for short, is an anomaly in the crypto world. It was born seven years ago and developed by an IBM engineer named Billy Markus. The coin was nothing special; a derivative of Litecoin, the only distinguishing feature of which is that it contains the picture and name of the popular “Doge” meme featuring a dog of the Shiba Inu breed.
But after years with a very low price (less than a cent), DOGE has become currently the most popular cryptocurrency, all surprising. See the video below to see why:
DOGE has multiplied the price by almost 200 at the beginning of the year in recent months and has positioned itself as the third cryptocurrency with the highest market capitalization. This has resulted in the cryptocurrency leaving everyone speechless when it peaked at 34 cents in mid-April and later, in May, hit Doge’s all-time high at a staggering 57 cents. That means if someone bought 1000 Euro DOGE in January, I could have made 190,000 euros.
This is an increase that only compares to Bitcoin’s good times. In fact, one of the reasons that usually creates a barrier to investing in cryptos is the thought that you will be late and that those huge gains are no longer happening. DOGE has shown that it is wrong to think that wayeven though we already told you that it is not too late to invest in cryptocurrencies.
One of DOGE’s biggest supporters was billionaire Elon Musk, founder of Tesla and PayPal. Musk has repeatedly tweeted about Dogecoin, which without exception resulted in the price rising more than noticeably.
Of course, there is no shortage of alarm bells to suggest that it may be a colossal bubble that is about to explode. You must never be careful because caution is the best advisor when investing. Though it should be remembered Elon Musk will be released live on Saturday, May 8th, on Saturday evening, one of the largest audience programs in the US, so it’s possible the DOGE might surprise us even more.