Where to Buy Dogecoin (DOGE): will Elon Musk take the meme coin higher?
Dogecoin has seen its price rise by over 20,000% over the last year
What is Dogecoin?
Dogecoin is a cryptocurrency initially developed as a joke and a means to tip online creators for their work. It is a meme coin, based on the “doge” meme that was popular in 2013, but is now attracting attention as a serious project after electric vehicle magnate Elon Musk began voicing support for the token this year.
Dogecoin has gained massive popularity on social media such as TikTok, and has seen a trading volume of over $22 billion as traders reapply buying pressure after a recent dip.
To put this into perspective, Dogecoin’s price has risen by 450% over the past 30 days.
DOGE has been frequently written off as a joke by detractors, but things have taken a bizarre turn in recent weeks. Musk repeatedly voiced tongue-in-cheek support for the coin, before mentioning it on American comedy serial Saturday Night Live, to an audience of millions.
More recently, Musk has voiced an apparently serious desire to fund a mission to the moon using Dogecoin, via his space exploration company SpaceX. He also posted a poll on Twitter, asking “Do you want Tesla to accept Doge?”, with an overwhelming majority of respondents voting in favour of the proposal.
How is Dogecoin different from Bitcoin?
Dogecoin has some similarities with Bitcoin, being a cryptocurrency, but is largely different because of its price. One Dogecoin costs less than a dollar, with a single Bitcoin costing around $50,000 at the time of writing. This makes DOGE seem a lot more accessible.
Furthermore, Elon Musk recently announced that Tesla would suspend Bitcoin payments for its vehicles. Musk criticised Bitcoin’s energy consumption, citing concerns over “a massive increase in fossil fuel use”.
Meanwhile, it appears that Dogecoin may be heading towards more widespread adoption as a means of exchange, with Musk announcing that he is working directly with Dogecoin developers to mitigate environmental externalities.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
Where can I buy Dogecoin?
eToro is one of the world’s leading online brokers, offering access to a huge array of cryptocurrencies as well as traditional assets like stocks and commodities. It has been a stalwart of the industry for over 10 years and is one of our most trusted partners.
The post Where to Buy Dogecoin (DOGE): will Elon Musk take the meme coin higher? appeared first on Coin Journal.
Source: Coin Journal
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- (Recommended For Altcoin Leverage) FTX Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here