Dogecoin has quickly shot past most trader’s expectations in its brief existence on the internet. Many traders are excited about this new found internet money that seems to have much more momentum than gold, silver and other traditional commodities that are traded on major exchanges. Dogecoin is a peer to peer digital currency that was created with the internet in mind. Unlike many of the other currencies out there which are based on stable markets, dogecoin is based on the popular “DOGE” (Doge multiplied ether).
As stated before, DOGEUSD has very high market cap because of the high demand for the coins themselves. Dogecoin started as a tiny market cap, but it has quickly grown into the billions of dollars in only a few months. This is mostly due to the fact that people like to trade it for fun as well as profit. Dogecoins are quickly increasing in popularity because they are worth a lot more than other coins on the market. They are also a perfect example of how a new digital currency can gain traction in its early days and become a strong favorite in the long run.
The Dogecoin hype is based around several factors. One reason that has given it the boost in popularity is due to its unique start up price. It has a low trading fee, making it affordable for anyone. Also, because it is a peer to peer digital exchange you don’t need to jump through any hoops or worry about registering with a broker. These two factors combined have made it extremely popular as a trader. If you were thinking about other coins for your investment portfolio, you would likely steer clear of Doge until more information comes out about its success rate.
However, the Dogecoin hype isn’t the only reason for its meteoric rise in recent weeks. Its price is tied to a new advertising program called the Doge Waves advertisement. It has taken the world by storm because of it’s unique marketing strategy. In order to promote the Doge Waves, many businesses have taken it upon themselves to create a unique advertising campaign. This has inflated the value of Doge Coins, causing them to trade at a premium in the market.
If you are looking for an investment opportunity that has a solid foundation, has a great track record, and is easy to get started with you should definitely take a look at Doge Coins. They have a low mintage which is another plus for traders. Also, there are no minimum amounts to trade in the Doge Waves program which makes this an excellent option for beginners. While the hype may be warranted, you will probably still want to stick with coins that have a higher mintage limit. Doge will continue to climb in value as the market cap continues to rise.
Doge will continue to meet these requirements as we move further into the season. There are signs pointing to a possible bubble coming in the future. Right now, this is a buy and hold strategy that we recommend. It’s important to understand that Doge is not the “sure thing” when investing in the Dogecoin market at https://www.webull.com/newslist/ccc-dogeusd. Doge is still a volatile market and prices will fluctuate.