Dogecoin Going Mainstream As Bitcoin Slows DownCC BY 2.0 / Aranami / One DogecoinBusiness15:06 25.12.2017Get short URL41914
While Bitcoin continues to slide after a brief recovery, dogecoin seems to be gaining grounds at the cryptocurrency market.
Dogecoin, an open-source digital currency, featuring a dog resembling Shiba Inu from the famous “Doge” internet meme as its logo, has officially passed the $1 billion market cap barrier, trading at $0.00960 per coin.
Initially introduced as a “joke coin” by programmer Billy Markus, it has become, as many say, one of the best cryptocurrencies on the market with its low fees, fast transactions and stable inflation rate. A huge army of dogecoin fans believe that it is a perfect coin for beginners willing to learn how the digital currency market works.
READ MORE: Bitcoin Rollercoaster: What Happened, and Why?
Dogecoin has been used as a payment form in several cases: the weather forecasting website (and mobile app) Doge Weather requests tips in dogecoins to maintain its activity; a man tried to sell his house for $135,000 in dogecoins back in 2014; Australian porn star Angela White set up a payment system in dogecoins, allowing viewers to visit her website; and of course the internet currency has been used in gambling.The Sun-Times Media Group, which has already accepted Bitcoin payments, has reportedly planned to implement dogecoin tipping for its writers
While some people think that dogecoin is worth almost nothing, one should bear in mind that bitcoins also used to be worth nothing back in 2009, but today those who had invested in the cryptocurrency earlier, have reaped what they sowed; many of them are buying luxurious cars and apartments in the wealthiest neighborhoods. Of course, no one can be sure that dogecoin, based on a ridiculous internet meme, will become the next Bitcoin, but it’s fun and it’s still accessible, which can’t help but draw people’s attention.