Dogecoin has rapidly increased in value over the last few days, will equal bitcoin? the online currency has been increasing in value ever since social media users began singing its praises. Put another way, thousands of social media users have been recommending it’s in posts. This is led to more and more people investing in the currency. In many respects it is very similar to what happened to bitcoin over the last few decades. Though that does make sense as the two companies our rivals in the same market. What is happening with Dogecoin sudden rise in net worth is what happened to bitcoin over a longer period of time.
Dogecoin was established a little over a decade ago as a competitor to the then rapidly growing bitcoin. This additional currency has two unique stories connected to its origins. First the inspiration for its symbol and name came from an emoji that was extremely popular at the time. The other story was that the creator viewed the idea as more of a joke knockoff of bitcoin. However, while this digital currency has not reached equal footing with its chief rival it is quite respectable. In fact, numerous individuals including wealthy entrepreneurs prefer it.
Dogecoin Equaling bitcoin
At the moment, Dogecoin has seen a huge boost in popularity and share price on the world markets. this is due in no small part to the rapid trading of shares that have been going on. The rapid trading was instigated by the events surrounding the rapid selloff of stocks in game stop. Additionally, social media posts have been suggesting variety of sources to buy stock in Dogecoin. The result has been a relatively steady growth in value over a short amount of time. Though it has fluctuated and dropped from its previous heights is steadily growing. With the current value as of the time this article being $0.04 value per share. While an impressive growth it will take a lot more in order to reach predicted heights by the end of the month. specifically, some experts have predicted that the currency’s value could reach five dollars. If so it would be able to claim a huge boost in value over rapid amount of time. Something that only bitcoins ever come close to doing in the past. Does this mean that Dogecoin will manage to surpass its rival? The answer that is probably not in the short term, in the long term perhaps in time.