In this article, we will explain in detail the future outlook of Dogecoin, which is often mentioned in the cryptocurrency area recently, and its price movements.
If you are considering investing in Dogecoin, please read it to the end.Summary of this article
- Dogecoin has the same function as Bitcoin and has no issuance limit.
- Dogecoin has a fast payment speed and is effective for small payments
- Dogecoin will rise in price at Tesla CEO Elon Musk
- Dogecoin may grow as Bitcoin prices rise
- If you buy the grass coin binance recommended
Dogecoin is a coin that is likely to show a significant rise due to the price movement of Bitcoin and the remarks of people who have a great social response on Twitter.
In fact, partly due to the influence of Mr. Elon Musk’s tweet, the price has risen nearly seven times, from the 6 yen level to over 40 yen at one point in mid-April 2021.
- What is Dogecoin?
- Features of Dogecoin
- A currency that has the same function as Bitcoin
- There is no issuance limit
- There is an online shop where you can actually use Dogecoin
- Settlement speed is fast and effective for small amount payments
- Current price trends for Dogecoin
- Future future and price forecast of Dogecoin
- Price increase due to Tesla’s Elon Musk remarks
- The market capitalization is high and there is a possibility that it will grow as the price of Bitcoin rises.
- Should I buy Dogecoin?
- Binance for cryptocurrency investment
- Frequently Asked Questions About Dogecoin
- Are Dogecoin and Shiba Inu coins different?
- Are there any other cryptocurrencies associated with dogs like Dogecoin?
- Summary of future outlook for Dogecoin
What is Dogecoin?
| Currency name | Dogecoin |
| symbol | Doge |
| Price (as of December 12, 2021) | ¥ 19.11 |
| Market capitalization (as of December 12, 2021) | ¥ 2,526,523,860,279 |
| Market Ranking (as of December 012, 2021) | 11th place |
| Handling exchange | Not available at domestic exchanges |
| Official site | Dogecoin official website |
Dogecoin is a grass coin that imitates Bitcoin made with the motif of Doge, which is an internet meme (an image that became a hot topic on the Internet).
Doge is derived from doge, the slang of dog dogs.
Since it is made with Bitcoin as a motif, the function of Dogecoin is almost the same as Bitcoin.
In May 2021, it soared sharply, surpassing the market capitalization of XRP and Coinbase / Nintendo in terms of market capitalization.
Despite being made as a grass coin, as of December 12, 2021, it has grown to be ranked 11th in the market capitalization ranking of crypto currencies .
In addition, there is SHIBA INU (SHIB) as a crypto currency that is attracting attention as the same meme coin as Dogecoin.
Shiba Inu is also a trademark here, and it is easy to be confused with Dogecoin, but be careful because it is different.
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Features of Dogecoin
Dogecoin is a unique crypto currency with a Shiba Inu motif, but what are its characteristics?
Here, we will explain in detail the features of Dogecoin.
A currency that has the same function as Bitcoin
Dogecoin is a crypto currency that has almost the same functions as Bitcoin.
As mentioned above, Dogecoin is a crypto currency created as a parody based on Bitcoin.
Therefore, it has almost the same functions as Bitcoin, except for the upper limit of the number of issued coins and the time required for mining.
Also, since Dogecoin has no upper limit on issuance, it is possible to freely control the circulation volume of currency, but it is said that it is unlikely that a large increase in value will occur due to its influence.
The same “PoW (Proof of Work)” as Bitcoin is adopted as a mining algorithm, and it is said that it is extremely difficult to falsify transaction records.
There is no issuance limit
One of the major features of Dogecoin is that there is no issuance limit.
In other crypto currencies, the issuance limit is set so that the balance between supply and demand can be maintained, and a mechanism is taken so as not to reduce the value.
However, Dogecoin does not have an issuance limit, so it is said to be a coin that can cause inflation.
There is an online shop where you can actually use Dogecoin
Dogecoin can actually be used on a market site called DogeMarket .
DogeMarket (Doe di Market) is an American R E Ddit (Reddit) located in the famous bulletin board site called.
On this site, you can purchase Amazon gift cards and merchandise and exchange for Bitcoin with Dogecoin .
Settlement speed is fast and effective for small amount payments
Dogecoin is suitable for small payments because the payment speed is faster than other crypto currencies.
The speed of Dogecoin payment is about 1 minute, and the speed of Bitcoin is about 10 minutes, so you can see that Dogecoin payment is quite fast.
It is used for tips and donations on the Internet because of the advantage of smooth and small payment .
In addition, the fee is set low and 1doge is required for the remittance fee, but as of December 02, 2021, 1doge = ¥ 24.68, which is said to be a fairly low value.
Therefore, for example, even if you purchase a product of several thousand yen with Dogecoin, it costs only a small amount, so it can be said that it is highly convenient for users.
If you buy a bit coins and ethereum required to purchase the Dojikoin Binance is recommended.
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Current price trends for Dogecoin
Next, I will explain the price trends of Dogecoin.
Dogecoin was around 0.8 yen until the end of January 2021.
After that, it rose to about 3.0 yen on February 1, 2021, and reached about 8.7 yen on February 9, 2021, showing a jump of nearly three times .
Furthermore, under the influence of Mr. Elon Musk’s Tweet on April 15, the price rose further and temporarily climbed to the 40 yen level.
It surged again on May 5th, setting a new record high.
However, after that, the price dropped, and as of December 12, 2021, it was trading at around 19 yen.
Below are the current dollar-denominated Dogecoin prices.
In the past, Dogecoin is a coin that has shown sharp price movements due to tweets and remarks of celebrities such as Mr. Elon Musk, CEO of Tesla, Inc. of the United States.
It is important to pay close attention to respond to sudden price fluctuations.
Anyone who want to buy a Dojikoin, first Binance please try to buy a bit coins and ethereum to an account opened in.
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Future future and price forecast of Dogecoin
The price of Dogecoin has risen sharply in April 2021, but what will happen to the future and price forecast of Dogecoin?
Let’s take a closer look.
Price increase due to Tesla’s Elon Musk remarks
Dogecoin has a history of rising prices when Elon Musk, CEO of Tesla, a major US car company, made a statement about Dogecoin on Twitter.
On February 4, 2021, a tweet related to Dogecoin such as “Dogecoin is a crypto currency of people” was posted from Mr. Musk’s account on Twitter.
As a result of this tweet, the price of Dogecoin soared to over 60% the day before.
There is also a case where the price of Dogecoin soared when Mr. Musk posted an image of a dog that metaphorizes “doge” on January 29, 2021.
Most recently, after Mr. Elon Musk of April 15 was a tweet, such as the following, Dojikoin has soared.
At this time, it became a big topic, such as temporarily exceeding the 40 yen level and exceeding the temporary ripple in market capitalization.
As you can see, Dogecoin will continue to be likely to be priced up or down by the statements of Elon Musk, CEO of Tesla, Inc., a major US car company, and other influential celebrities.
The market capitalization is high and there is a possibility that it will grow as the price of Bitcoin rises.
As mentioned above, Dogecoin is a crypto currency created by imitating Bitcoin.
Therefore, the price of Dogecoin may increase as the price of Bitcoin rises.
From the end of January to the beginning of February 2021, the price of Dogecoin has risen significantly from the conventional price and has been declining since then.
By the end of January 2021, the price of Dogecoin had been around 0.8 yen , but in May 2021, it soared to 70 yen .
It is said that the reason for this movement is that it has become widespread as a payment method and that the price of Bitcoin has skyrocketed due to investment in Bitcoin by the major US automobile company Tesla.
In the first place, the price of altcoin tends to rise and fall in the same way as the price of Bitcoin, which is the key currency, fluctuates.
In other words, it is thought that the value of Bitcoin has risen and such a surge has occurred because large investors and large companies such as Tesla have earnestly embarked on the acquisition of Bitcoin.
And it is thought that the price of Dogecoin has risen in line with the soaring price of Bitcoin.
In this way, it can be said that Dogecoin will continue to fluctuate its value according to the price of Bitcoin, which is the key coin.
To purchase a bit coins, Binance is recommended.
If you don’t have an account yet, please open one.
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If you haven’t registered yet, try registering now to make sure you don’t miss an investment opportunity.
Also, for a limited time, we are running a campaign that gives all registrants a bitcoin worth 200 yen, so please use it.
Should I buy Dogecoin?
Dogecoin has no issuance limit and is said to be unlikely to rise in price .
Also, as in the example above, it can be said that it is a currency whose price movement is difficult to predict, as prices fluctuate sharply due to tweets by celebrities such as Elon Musk.
Therefore, it can be said that Dogecoin is not very suitable for those who are looking for stability and those who are new to cryptocurrency trading.
It can be said that it is important to make a decision on purchasing Dogecoin while paying attention to tweets about Dogecoin of celebrities such as Elon Musk and the price movement of Bitcoin.
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・ FTX
・ Kraken etc.
Therefore, if you want to trade cryptocurrencies, we recommend that you first start investing in cryptocurrencies at domestic cryptocurrency exchanges such as Binance .
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Binance for cryptocurrency investment
If you are thinking of investing in cryptocurrencies, Binance is recommended.
Dogecoin is only available on foreign exchanges, so you cannot trade with Binance .
However, Binance handles as many as 17 different currencies .
So, if you want to trade with grass coins, you may want to choose Binance .
| name | Binance |
| Official site | Binance official website |
| Number of currencies handled | 17 currencies |
| Minimum transaction amount | 500 yen |
| Services provided | Cryptocurrency sales office Cryptocurrency exchange Binance Tsumitate lending Cryptocurrency service |
From account registration to account opening, it is very easy and easy to operate, and even beginners of cryptocurrency trading will be easy to start.
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Binance
Frequently Asked Questions About Dogecoin
Here are some frequently asked questions about Dogecoin.
If you are interested in Dogecoin, please refer to it.
Are Dogecoin and Shiba Inu coins different?
Yes, both Dogecoin and Shiba Inu coins are classified as meme coins, but they are different.
It’s easy to get confused because they have the same dog-related name, but be careful because they are not the same.
However, it is also true that Shiba Inu coins, like Dogecoin, have many similarities, such as being said to be susceptible to the remarks of Tesla’s Elon Musk.
Are there any other cryptocurrencies associated with dogs like Dogecoin?
Yes, there are many crypto currencies named after “dogs” other than Dogecoin.
Mentioned above, as well as “Shiba Inu coin” only ” Akita coin ” and ” Kishu carp such as down”, there exist a variety of coins.
In addition, there are many crypto currencies derived from other animals such as “cats” as well as dogs.
However, these coins tend to be highly volatile, so you should be careful when investing.
Summary of future outlook for Dogecoin
This time, we have explained the features of Dogecoin, current price trends, and price forecasts.
Finally, I will summarize the points of this time.Summary of this article
- Dogecoin is very convenient because it can be used for small payments.
- Tesla CEO Elon Musk and other celebrities can cause price volatility
- Prices tend to fluctuate as Bitcoin moves.
Dogecoin may rise sharply in the future due to comments from major US car company Tesla CEO Elon Musk and other influential celebrities on Twitter .
In addition, Altcoin, including Dogecoin, tends to show price movements in line with Bitcoin price fluctuations, so it can be said that it is important to pay attention to Bitcoin trends in the future.
If the speed of payment and the convenience of using small amounts of money become more widespread in the world, there is a good chance that the value of Dogecoin will increase.
