The history of Dogecoin is an interesting one; although conceived as a joke, Dogecoin had made its way into the trading communities to become an internet sensation. When Billy Markus first developed Dogecoin in Portland, Oregon, he had no idea it would evolve to become one of the most sought-after coins in the market. As evident from its appellation, Dogecoin was named after the popular “doge” meme of Shiba Inu. With thousands of users posting memes about Dogecoin, it’s not hard to guess why its value has surged so high.
Should You Invest in Dogecoin?
Today, Dogecoin ranks among the top currencies of its kind, and the internet hype has a huge role to play in it. This altcoin was developed to cater to much broader demographic than Bitcoin. It was believed that its fun feel will protect it from controversies of Bitcoin. As of 14 March 2018, the market cap of Dogecoin stands at 442,260,525 USD. Featuring among the popular altcoins, DOGE is traded on several online exchanges which offer DOGE/LTC, DOGE/BTC, and other trading pairs.
If you are new to cryptocurrency, you should definitely try your luck with DOGE, as it can help you gravitate towards the broader crypto space. Trading with Dogecoin is fairly simple. To begin with, you should get a wallet from Dogecoin.com, a decentralized open-sourced blockchain that allows users to send funds to anyone with a Dogecoin wallet.
Dogecoin, the Trump Card for the Underdogs
When Dogecoin was first introduced, its use was restricted to only a few internet geeks. The recent rise in the value of Dogecoin has prompted many traders to trade it on various exchanges. However, in the sporting circles, it has attracted some unorthodox sponsorship. For instance, in 2014 the Dogecoin Community donated a sum of $55,000 to the US stock car racing, joining hands with Nascar driver Josh Wise.
Discernibly, sporting underdogs have done an excellent job out of Dogecoin, taking it to the zenith of success. Following the news of the US stock car beneficiary, another important event changed the course of Dogecoin when the Dogecoin backers raised $25,000 to drive the Jamaican bobsleigh team to the winter Olympics.
Although the sporting underdogs have done a splendid job out of Dogecoin, it is not clear whether the same can be said about the investors. Dogecoin, which has attracted many investors in the recent time, is mined in the same manner as Bitcoins, using computer processing power. While there is no upper limit on the number of Bitcoins that can be created, such limits are not applicable in Dogecoin, as over 100 billion Dogecoins are in circulation.
The Future of Dogecoin
The parody coin, which was named after the Japanese dog Shiba Inu, has attracted many critics in the past. But it has broken off the leash; much to the critics’ dismay, it has reached a market cap of $1 billion. Although it was invisible for most of the time in the past years, over the last couple of months its price has moved up exponentially. In fact, according to the latest survey, the price has gone up by more than 400 percent, an all-time high which has created quite a bustle among the trading enthusiasts. Based on the analysis pitched by coinmarketcap.com, this year’s crypto momentum is likely to favor the altcoins like DOGE. If the analysts are to be believed, the price will skyrocket further in the coming months. So, if you are a big fan of altcoins, and looking to invest in DOGE, this is probably the best time to buy your assets. After all, this is “The year of the Dog” in the Chinese calendar!
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…