DogeCoin was created by two developers from the United States, as a fork for litecoin network in 2013 . They were inspired by the japan «Doge» mem. As the dogecoin price history shows, it has an average daily trading volume of approximately 35 billions of dollars which makes this memecoin one of the most tradable on the exchanges. Most of the traders use crypto bot trading algorithms to trade during the volatility periods. At the same time based on the capitalisation, Dogecoin is ranked on the 10th place among all crypto assets. This asset is listed on most famous crypto exchanges so you can monitor dogecoin volume live easily.
Dogecoin is different in terms of mining from Bitcoin's proof-of-work protocol. This is due to the Scrypt algorithm inherited from Litecoin. This altcoin is also quick in block generation time, which is around 1 minute and in comparison to bitcoin it does not limit the supply of the tokens and therefore there is no limit to the number of Dogecoin tokens that can be mined.
Fame came to DogeCoin with viral mention on Twitter by Ilon Musk, when he named this coin the most promising and suggested keeping an eye on dogecoin price live chart. Another pump of dogecoin price came from Reddit r/WallStreetBets and r/Bitcurrency.
DogeCoin can be used as a form of donation on Twitter, Twitter and Reddit, although some companies from HORECA accepted this coin. There are two pillars of coin, transaction commission minimum cost is 1 Doge and the block processing speed is 10x faster than average BitCoin.
DogeCoin has a lot of advantages in comparison to other crypto assets. Low fees and fast transaction processing speed - it only takes 1 minute to generate blocks. High resistance to double-spending attacks, again due to the short closing time of the blocks.Due to the fact that Dogecoin technology is not very different from Bitcoin and Litecoin, it is easy to implement updates into the Doge code. A large, friendly, and positive community that actively participates in the life of the coin. A large volume of coins that are in circulation, which allows you to successfully use DOGE for trading. Most of the popular exchanges have added DOGE as an asset, so exchanging crypto for fiat is very easy.
On the other hand, the DogeCoin has its disadvantages. Endless emission causes constant inflation and depreciation of the coin, so make sure that you check the dogecoin value live regularly. Due to the great popularity now, Dogecoin cryptocurrency cannot be mined alone, and therefore miners have to unite in mining pools. Dogecoin does not carry any new technology and was created solely as a comic cryptocurrency, which gained popularity thanks to 'hype' and 'viral' advertising due to the popular Internet meme.
Dogecoin is a very popular cryptocurrency, so you can buy it on almost any exchange or exchange it for BTC, ETH, Tether cryptocurrencies, as well as for fiat currencies - dollar, euro, rubles. If you are investing in Doge and buying the asset when the dogecoin value graph is touching the dips, then it is better to use an official Dogewallet wallet or hardware clients like Trezor or Ledger for storing DogeCoins, to keep your investment safe. However, if you would like your investment to work even harder you can create the trading script to automatically buy and sell Doge on the exchange. As an alternative method of investment, you can also use the crypto copy trading tools to follow the most profitable traders on the exchanges and mimic their trades.