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What Can You Do with Dogecoin?
Anything you want, really. Like other legitimate cryptocurrencies, there’s a demand and a standardized USD value assigned to every Dogecoin. However, the price of Dogecoins has never surpassed the 2¢ mark, but with billions of coins available, it’s not entirely impossible to purchase huge assets with this hilarious-sounding coin.
Elon Musk’s Tweet Furthers Doge Value
Although Dogecoin is still a real form of crypto, news of this coin has pretty much been nonexistent over the last couple of years. But when Elon Musk says or does anything, the internet can’t wait to hear what he has to say, no matter how ridiculous.
On December 20, 2020, Elon tweeted out, “One word: Doge,” basically calling out the meme-ish crypto as a real contender against Bitcoin, which is currently trading at over $23,000 per. However, this seemingly insignificant tweet increased the value of Dogecoin by 20% in under 24 hours.
It’s scary to think that a single person has such an influence on the global crypto market.
A Possible Investment Opportunity?
If you’re thinking of getting in on cryptocurrency, Dogecoin is a great place to start for beginners. Even after Elon’s tweet, Dogecoin is trading at less than 1¢, but you never know when your investment will experience a steep increase in value. Just make sure to keep an eye on Elon’s Twitter account from now on.
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