Dogecoin is perhaps one of the most well-known cryptocurrencies of 2021. The coin, created by software engineers Billy Markus and Jackson Palmer as a joke, became one of the most talked-about coins in the crypto industry and has inspired people to try their hand at this popular currency. In this blog post, we will briefly present the new addition of Doge to the SpectroCoin crypto portfolio.
Introducing new cryptocurrencies at SpectroCoin
Here at SpectroCoin, one of our primary goals is to always keep up with the current trends and try to meet the demand from our community. Due to the rise and popularity, Doge is one of the newest cryptocurrencies added for customers to buy and sell at SpectroCoin.
Dogecoin (DOGE) is a peer-to-peer cryptocurrency based on the famous dog meme. The currency logo contains a Shiba Inu. Dogecoin was forked from Litecoin in 2013 and was seen by creators as a cheerful cryptocurrency that would attract the Bitcoin community. Dogecoin differs from other cryptocurrencies, such as Bitcoin, by currently not having a limit to the number of Dogecoins that can be created.
The Rise of Dogecoin
In January 2021, due to a Reddit meme, Dogecoin went up over 800% in 24 hours, reaching a price of $0.07. One month later, Dogecoin hit a new high price of $0.08. On May 4, 2021, the value of Dogecoin first exceeded $0.50. On May 9, 2021, SpaceX announced a mission to the Moon entirely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency.
Dogecoin started with a supply of 100 billion coins. By 2015, the 100 billionth Dogecoin had been mined, with an additional 5 billion coins put into circulation every year after that. And in February 2014, Dogecoin founder J. Palmer announced that the limit would be removed to create a consistent reduction of its inflation rate over time.
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