Dogecoin (DOGE) is a virtual currency that mimics Bitcoin and is a cryptographic asset (virtual currency) with a Shiba Inu motif.
|Release date||December 8, 2013|
|Market capitalization||Approximately 25.2 billion yen (20th)|
|Issue limit||No upper limit|
Purpose of the creation of Dogecoin
It was developed by programmer Billy Marcus as a parody version of Bitcoin and was released to the public in December 2013. Although the virtual currency started as a joke, its market capitalization has surpassed $65 million (about 6.6 billion yen) through transactions among users, and a community of fans has been established on the social networking site Reddit. Marcus, the founder of Dogecoin, explains that the purpose of the currency is not to compete with Bitcoin.
“Without the precedent of bitcoin, there would be no dogecoin.” “If Bitcoin is the pioneer, then dogecoin is the friendly guide to the world of virtual currencies” -Billy MarcusCNN.co.jp
Features of Dogecoins
One of the major differences between dogecoins and bitcoins is that the number of dogecoins issued is unlimited.
Price fluctuations of cryptographic assets (virtual currencies) are caused by changes in the balance between supply and demand. The fact that there is no upper limit to the issuance of dogecoins makes it easier to maintain a balance between supply and demand. As a result, price volatility is low and risk is low.
Existence of the Doge Market
DogeMarket is a market site located in the American community called reddit.
At Doge Market, you can buy products with Dogecoins and exchange them for Bitcoins. It is a site that is helping to popularize Dogecoins.
In this article, I introduced Dogecoins.
I have high hopes for the future of Dogecoins!