Dogecoin has garnered a cult following for its celebration of the Doge meme and its fast, secure, and cost-effective transactions.
Dogecoin was created as a "joke" cryptocurrency in 2013 with its logo based on the Shiba Inu dog popularized in the "Doge" meme. The network was hard forked off of the Litecoin network, maintaining a number of characteristics.
Dogecoin has an unlimited cap on its supply, and through the mining process, 10,000 DOGE are minted every minute. While the coin doesn't depict the necessary characteristics to be a strong store of value, it is able to provide fast, secure, and cost-effective transactions.
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As Dogecoin becomes more widely accepted, there are an increasing number of businesses accepting DOGE for goods and services. Corporations from the Dallas Mavericks to Airbaltic are opening their doors to the meme-based cryptocurrency.
Dogecoin was created in 2013 by two software engineers. Over the years the coin has amassed a cult following, with several pumps from users not typically associated with the crypto world. Elon Musk and Mark Cuban are two of the biggest names behind Dogecoin, pushing its value across social media.
There are several schools of thought when it comes to the best time to buy cryptocurrencies. Trading patterns have some traders convinced that the best time is at the end of the month as prices typically tend to rise in the first 10 days before a price collapse. Others believe the afternoon to be best, around 3-4pm USA time, or 11pm - midnight.
Depending on how busy the network is it could take anywhere from 1 to 5 minutes to send Dogecoin, however, when using Oobit Pay all Dogecoin transactions are instant.
Dogecoin 2.0 is an entirely different network and cryptocurrency than the original Dogecoin. Investors should be aware that while they share a name and sound like an upgrade, these are in fact two separate networks.
According to Dogecion's co-founder Jackson Palmer, the cryptocurrency is pronounced as "dohj coin". "Dog" coin or "doggy" coin are mispronunciations. Now you know.