Our opinion on Dogecoin (DOGE)


“Hey man! Where is my DOGE ? “ (in reference to the film “Hey man! Where is my car?” released in 2000)

This could have been the slogan for a proper and devoid of common sense marketing launch of Dogecoin (DOGE), Man’s best friend, the funny and cute little puppy who has become all-powerful in the cryptosphere.

Dogecoin, what is it?

The year 2013 was not just the birth year of Prince George of Cambridge. Indeed, and as cute as it is, it was that same year that Dogecoin has arrived on the doorstep of the cryptocurrency market.

For the quick story, Jackson palmer, the father creator of the most famous dog in the cryptosphere, did not wish to continue to evolve in this environment which he had described as being extremely volatile and preferred to sell his shares, just like his co-founder, Billy Markus, to (according to the legend) acquire a modest Honda Civic.

Starting from a simple joke, the 2 men wanted to create a cryptocurrency in the image of the funny dog ​​of the year, the meme of the moment, a Shiba inu. It is therefore in his image that the hilarious token will be struck.

Almost 8 years after the valve, Dogecoin’s market capitalization is now around $ 50 billion. It’s the most expensive joke in cryptocurrency history. Its course currently peaks at $ 0.27, with a growth rate of around 10,000% in the year 2021 alone. Suffice to say that the DOGE is much more than the simple friend of Man. And out of his niche, he made some very rich.

The community behind the DOGE

The community has had an important role in the progression of the token price in recent years. We can, for example, cite the craze that appeared on the social network application Reddit, and on which a multitude of influ-users have encouraged them to invest heavily in Dogecoin. Result: an explosion of the course in 24 hours.

This kind of event is not an isolated case. Indeed, and in the cryptosphere, Dogecoin is perhaps the cryptocurrency that experiences the most fluctuations linked to social networks. The all-round champion in terms of influence is Elon musk, the CEO of Tesla and SpaceX. With a simple tweet, he has several times in the past raised the price of the token to ever higher heights. With over 60 million followers on Twitter, Elon’s account already has a large chunk of dog-token followers. For comparison, the official Dogecoin account has no less than 2 million subscribers. Aficionados who constantly follow the evolution of their company token.

Elon Musk fan of hamster trader Mr. Goxx from Dogecoin

For the record, Billy Markus, who seems to want to joke again, revealed that he recently acquired from DOGE. He announced it on his Twitter account. And of course, the prices went up very quickly, once again.

But to go further, we must understand the crowd of investors who are scrambling to adopt the DOGE. Most of them are DeFi devotees and sometimes even anti-systems, like its self-proclaimed guru: Elon musk. And when advertising campaigns get involved, Dogecoin becomes the face of brands in the food industry, to the delight of the insatiable.

L’access at Dogecoin is all the more ease by the constant improvement of the offers offered by the exchange platforms, the increased compatibility with a multitude of portfolios (wallets). Today, almost everyone can buy the token. And why not you ?

After having painted a summary and tantalizing picture of Dogecoin, it’s time to answer the question everyone is asking: how to buy DOGE?

Buy DOGE on a centralized exchange

Since its launch 8 years ago, it has become much easier to buy the token. To buy DOGE, you must first open an account on a exchange platform (DEX). Among the best known, we can cite Binance, Crypto.com, FTX, Nexo or Robinhood for American customers

.>> Play it safe, buy your dogecoins on the FTX crypto exchange reference <<

To get started, you must first provide a set of documents confirming identity, place of tax residence, income and occupation. This is the famous KYC protocol (know you customer) henceforth necessary to allow traceability of users, particularly in tax matters. Hitherto uncommon, its implementation is now reaching almost all exchange platforms, an obligation that has become legal.

Once the account is created, all you have to do is bring your bank card to buy DOGE, generating costs, which average 2% depending on the application or DEX used.

Buy DOGE on a decentralized exchange

Another way to buy DOGE is the possibility of swap a stablecoin or a cryptocurrency to DOGE. Certain transaction fees may apply to this transaction. From the moment the chosen transaction has been carried out and then validated, Dogecoin will appear in the list of currencies available in the wallet.

The more seasoned can, for their part, have recourse to type exchangers. Uniswap Where Pancakeswap, to convert their dormant and unprofitable assets into real hunting dogs: Dogecoin. All they have to do is create an external wallet of the type Metamask or Trustwallet, that they will connect to the exchangers and thus recover the precious token, which they can subsequently either keep in these said wallets, or transfer to other platforms to take advantage of sometimes more advantageous savings rates.

The advantages of DOGE

As in all cryptocurrencies, one of the major advantages of this investment lies in the possibility of being able to staker (save) at attractive rates depending on the platform used. For example, the Nexo application offers Dogecoin holders to hope for a rate of annualized return of 3%. To achieve this, it will be necessary to accept that part of the interests (2%) is paid in tokens Nexo.

The FTX platform, for its part, promises a 8% annual yield on the value of the DOGE held in his wallet. It is also this same rate that is expected on all crypto-assets owned by the user, in the FTX ecosystem.

AMC Theaters gift cards buy with Dogecoin (DOGE)

L’advantage of such an investment is therefore well and truly in the expected, whether they are raised by interest rates much more attractive than those offered in traditional finance, or not, insofar as the price of the DOGE can explode from one week to the next, with for sole “master” Mr. Tesla.

The disadvantages of DOGE

The advantages listed above may also ultimately lend themselves to disadvantages. Obviously, and this is the problem of a token initially created on a joke, fluctuations are important. And just as on the rise, they can therefore also be on the downside, to the chagrin of unsuspecting investors. We must therefore keep in mind that this is an investment that is not without risk.

The other major problem, and certainly correlated with this joke, is theno real project and seriously backed by the DOGE. Indeed, and unlike many coins on the market, Dogecoin does not presently present a concrete plan, a real goal, or even a reason to exist … if not simply the speculation around one man at the controls of the Doge rocket and for an indefinite period to say the least.

Shiba-Figh

It is therefore not opportune to embark on an investment of this kind, without knowing all the actors and parameters, however few they may be.

What future for the DOGE?

The DOGE is tending to democratize. And although it was originally created for no apparent reason, (if not to poke fun at the cryptosphere) it is clear that it now confirms its presence. For good reason, it is now classified seventh in the world for cryptocurrencies. Big deal !

So is it time to take the plunge and invest in this token? There are many answers. But there are many signs that DOGE still has a bright future ahead of him. A recent example can illustrate this point. The most recent is that of the partnership between Burger King and Robinhood. Indeed, through a press release from the burger company, consumers and members of the program called Royal Perk, have been informed that they will be able, as soon as they make a minimum purchase of 5 USD, receive in return, 1 DOGE. Purchases must have been issued from the application of Burger King. In this way, a code will be assigned to them by e-mail. A code that they can then enter in theapplication Robinhood, to thus receive 1 DOGE.

2 million DOGE have been brought into play, and all participants are guaranteed to be able to recover at least 1 DOGE for each transaction in accordance with the rules.

For information, more than 50% of the income of the Robinhood application, in recent months, has come from trading in Dogecoin. In this momentum, the price of the token to the dog is not expected to falter anytime soon. However, only one person today has the power to give him great prospects. The bets (although risky) are therefore open. Place your bets !

No matter which web browser you are using, you can always easily and securely buy your bitcoins and cryptos, all you need to do is register on the benchmark crypto exchange FTX. A lifetime reduction in your trading fees awaits you thanks to the JDC affiliate link.

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