DogeCoin ???

Dogecoin (DOGE) experienced a fantastic price increase. Dogecoin is a crypto asset taken from the image of dog meme.

Talking about crypto assets or cryptocurrencies, you must only remember Bitcoin or Ethereum. Naturally, because both are the most popular. Both are crypto assets with the largest valuations in the world.  

However, there are many other crypto assets that are actually interesting, one of which is the DOGECOIN.

From a Dog's Viral Image

Dogecoin was created by Jackson Palmer in 2013. The name was taken from the dog meme doge which was often viral on social media at the time. 

The purpose of taking this dog meme logo is to make it easier for people to recognize it. The results are indeed proven. DOGE is a crypto asset that has many communities in the United States and other countries. 

Crypto Mining

Dogecoin is a crypto asset based on proof of work (Pow) or in other words from mining, such as Bitcoin and Ether (before evolution) and Litecoin. However, DOGE does not have a limit. 

DOGE is a derivative crypto asset from Litecoin (LTC) which is a block proof of work from Litecoin and Lucky Coin. While LTC itself is a derivative of Bitcoin. 

This is why when the price of Bitcoin increases, the price of the crypto asset also increases.

Has Super Fast Transfer Advantages 

Dogecoin has the advantage of faster transfers. Because Dogecoin uses a script like Litecoin (LTC). So it is natural that many internet platforms use DOGE as a means of payment. 

In addition, this advantage can also be used to transfer crypto assets from wallets. For those of you who want to transfer funds using crypto assets, you can choose DOGE if you want to send them quickly. 

High Rating and Volume

Dogecoin is a fairly popular crypto asset, if we look at its rating. On Coinmarketcap.com, a worldwide crypto asset rating website, DOGE is ranked 29th.

The total volume reached US$ 770 million or the equivalent of 127 billion DOGE and a market cap of US$1.3 billion. 

Elon Musk's Favorite Crypto Asset

Do you know Elon Musk? He is the CEO of Tesla Inc., a future company that makes electric cars. Elon Musk is one of the most important business figures in the world today. 

At the end of 2020, Elon Musk once stated that DOGE was Elon Musk's favorite crypto asset. He said this on his official Twitter account. 

“One Word: DOGE”. Then he posted a picture of a doge as a smoke explosion destroyed the city with the caption “It's inevitable'. In the picture it was also written "dogecoin standards, the Global Financial System"

From the post that seemed to illustrate that dogecoin will destroy the financial system of the current financial.

An increase of 592%

Doge crypto assets in the first week of January 2021 an increase of 592% over the same period one year earlier. This means that during one year, the price of Dogecoin increased more than 5 times. 

The fantastic increase has something to do with Elon Musk's tweet. However, the increase is also due to the rising price of Litecoin and the price of Bitcoin. That is, the rising price of Bitcoin also raises the price of DOGE.