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Dogecoin is officially worth 1 cent!

Dec 26, 2017 Posted /  1932 Views

Dogecoin is officially worth 1 cent!

Dogecoin has officially breached the $1 cent mark after breaking the previous $0.007509 resistance gaining about 46% in last 24 hours. The price had been surging for some time now and now the currency is on 32nd position in the list of top 50 cryptocurrencies.

The price on 21st November reached $0.008768, however, it dipped back into the previous resistance. It is presently not apparent about the sudden surge in the value of the Dogecoin, especially over the past one week. However, the obvious reasons seem that the general impact in the cryptocurrency market which has witnessed most of the cryptocurrencies finding momentum after a period of consolidation.

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There are many memes on the market pertaining to the Dogecoin, where a dog has been customized in the logo of the digital currency. Well yes! The dog in the logo is Shiba Inu, a Japanese breed and the cryptocurrency was certainly designed with a characteristic of humor. Nonetheless, it is an authentic digital currency, which has played a very significant task of facilitating people to comprehend about the tendencies and mechanics of cryptocurrencies.

Regardless of its recent gains, Dogecoin is at present not the best player of the current year. It currently has a market cap of $818 million and its price rallying upwards each day. Jackson Palmer is regarded as the creator of Dogecoin and was originally developed to make fun of cryptocurrency space in 2013. He developed Dogecoin as an inflationary digital currency as Palmer believed that the digital currency industry would collapse soon.

There is a looming talk in the cryptocurrency market analysts that the market will crash in the upcoming years, as there is not much going on the digital currency space right now. However, Dogecoin gaining the momentum in its worth speaks a lot about its potential future which currently does not seem bright to its critics. Obviously, there is a rising curiosity about its performance in 2018.

Nonetheless, the rise in the value of Dogecoin lifts the overcast of clouds and displays a silver lining that there are some willing buyers and sellers who have faith that this “joke currency” will soon prosper in all seriousness. 2018 is around the corner and analysts, critics and traders are all gathering up to how Dogecoin and the entire digital asset market will perform.

Although it was created with a bizarre motive, Dogecoin has gained some footing and is well recognized in the cryptocurrency space. All the users who are active on its Reddit forum are awarded free Dogecoins. Moreover, the digital coin was also targeted and robbed by a hacker sometime back.

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