What is Dogecoin? Get to know and know why the value is increasing!

More and more days, it feels like more and more digital money is being used for transactions and investments. Last and most recently there is Dogecoin digital money. Currently, Dogecoin is in the midst of a community. Not only abroad, the domestic community is also busy talking about Dogecoin. The keyword 'Dogecoin' was also included in the list of Google Trends trend number 16 on Friday (16/4/2021).

Previously, in the third week of April 2021, the world was suddenly surprised by the soaring value of the Dogecoin digital currency. But, do you already know what Dogecoin is? What is the reason dogecoin value soars every day. To find out what Dogecoin is and the reason behind its high selling and buying value, see the following explanation, visiting Indian Express. What is Dogecoin? Dogecoin is a digital token created by software engineers Billy Markus and Jackson Palmer in 2013. The reason behind the creation of Dogecoin digital tokens was the desire of Billy Markus and Jackson Palmer to insinuate the many crypto coin scams due to the existence of the famous Bitcoin at the time. Billy and Jackson took the token name and dogecoin logo from the Shiba inu breed dog meme that went viral on the internet several years ago. When it was first launched, many so-called online communities supported Dogecoin's existence.

The online community support was demonstrated by a $55,000 (or Rp799 million) donation of digital tokens to Nascar drivers in the United States in 2014. The reason dogecoin is popular Dogecoin popularity almost offsets Bitcoin because this digital token does not set a maximum limit.

This is in stark contrast to Bitcoin, which set its maximum limit at 21 million, which is expected to be reached in 2040. In fact, Dogecoin itself has reached the figure of more than 100 billion in just a few years. Throughout 11 to 17 April 2021, the value of Dogecoin suddenly increased sharply after the meme of Shiba inu dog went viral again. In the last 24 hours on April 17, Dogecoin grew to approximately USD19.9 billion (or equivalent to Rp290 trillion).

Until the time this article was written, it is believed that its value has increased to USD34 billion (Rp494 trillion) as coingecko via Indian Express. On Friday (4/16/2021), this digital token was valued at 28 cents and is said to have increased twice the forgetting of the day before.

Dogecoin has seen a 300 percent increase. Elon Musk's role in increasing the value of Dogecoin Indian Express says that the reason Dogecoin increases in value is the same as what happens to Bitcoin and Etherem based on data from Cooinbase (a virtual money exchange site in the US).

SpaceX itself is a private space transportation company in the United States founded by Elon Musk. Not quite there, he also changed his bio on Twitter to 'Former CEO of Dogecoin', which of course attracts fans of digital tokens. Another reason behind Dogecoin's success is thanks to a reddit group member named SatoshiStreetBets showing his enthusiasm for cryptocurrency. SatoshiStreetBets is thought to be the account name of Satoshi Nakamoto, the person behind bitcoin's success.