Should You Invest In Dogecoin?

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4,502,888 Dogecoin positions opened on eToro

Dogecoin (DOGE) is an altcoin cryptocurrency that gained popularity rapidly in 2021. Created in 2013 by Jackson Palmer and Billy Markus with the original aim of satirizing the growth of altcoins, Dogecoin’s name comes from a popular internet meme featuring a Shiba Inu dog. The coin gained popularity and value during the coronavirus pandemic of 2020-2021, where it became popular following mentions on social media by a number of high-profile individuals such as Tesla founder Elon Musk. Altcoins are any cryptocurrencies other than Bitcoin. Dogecoin’s protocols are based on those of Luckycoin, which forked from Litecoin and uses a basic Scrypt algorithm. There is no hard cap on the number of Dogecoins that can be produced, meaning that coin numbers can increase indefinitely. It has 1 minute block intervals, faster than a lot of other blockchains. Diversify your portfolio with cryptocurrencies and keep up to date on Dogecoin value changes on eToro.

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