Built first as a joke in 2013, Dogecoin has exceeded all expectations and broken all concepts. Technically, Doge was built as a Bitcoin clone just without the limited supply part, which is the golden rule of bitcoin. The first built as a joke coin now has hit roughly a market cap of $54 billion dollars. In fact, if you have invested $100 on Dec 2020, it would've turned to a hefty $15,700 just six months later. This is due to the fact that the doge community is very strong. The community posts memes that often go viral causing the mainstream to invest just for the meme. What's mind-blowing, is that the meme virality reached Elon Musk (Co-founder PayPal, Tesla, SpaceX) and boom - he tweeted about it.
Beside the fact that the DOGE price skyrocketed after the tweet, Elon has adopted the idea to further development. Not only is he supporting the DOGE publicly, he is working with DOGE developers to actually fix the algorithm to make it a suitable and competitive currency for use. He claimed that he is working on a SpaceX mission to Mars fully funded by Doge. Another time, he said that Doge might be the main currency of Mars. Where will Doge go in the near future, this is something that Elon himself cannot guarantee. Although the technical fundamentals of the coin do not appeal to anybody as an investment, it is a solid truth that many investors pile up DOGE for their trust in Elon - or just for the meme.
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