Dogecoin is a decentralized digital currency based on peer-to-peer technology allowing users to transfer money online. Interestingly, a joke led to the creation of Dogecoin.
What began as a fun project involving designing Litecoin codebase, eventually commanded $300 million in market capitalization value. It perfectly symbolizes that strong community support can work wonders.
The highlight of Dogecoin is its mascot, Doge, an internet meme that went viral in 2013 and featured a Shiba Inu dog picture symbolizing internal monologue. Earlier Dogecoin versions had little difference with Litecoin peers. Now, blocks are created much faster in Dogecoin compared to Litecoin. Also, the mining difficulty is optimized after every new block appears and the fixed rewards further entice the miners to continue operations.
The fun element engraved in the Dogecoin psyche gets its attention on social media. In fact, the coin is pretty popular outside the crypto and blockchain community. No wonder it is well accepted in mainstream payments including retail chains.
Dogecoin began its journey in 2013 and it is still going strong in 2020 – thats a long tenure in the volatile cryptocurrency realm. Being among the top 30 digital currencies in the market, its credibility and legitimacy quotient is certainly high.
Dogecoin Price Prediction 2020
The year 2020 has not been kind to cryptocurrencies in general. Most coins have touched the nadir of their lifetime and dogecoin price prediction is no different.
However, digital currencies have weathered the COVID-19 economic storm better compared to traditional assets. In fact, Bitcoin has stood strong during the March market turmoil and recouped most of its losses pretty quickly.
As far as 2020 is concerned, Dogecoin will likely complete its consolidation to move higher in the next few months. Its rising use in mainstream payments will increase its adoption among the masses. Dozens of online retail merchants and platforms, including AllGamer and eGifter, now accept payments in Dogecoin.
The mainstream adoption trajectory of Dogecoin is close to Tron and IOTA. The coins entry in ...