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What is Dogecoin?
Dogecoin (DOGE) is an open source peer-to-peer cryptocurrency designed for sending and receiving digital payments processed through the Dogecoin blockchain network. Dogecoin was developed by software engineers Jackson Palmer and Billy Markus and launched in December 2013 as a decentralized cryptocurrency for instant payments. Dogecoin was originally created as a hard fork of the now defunct Luckycoin, a fork of Litecoin (LTC).
Promotion on TikTok & Elon Musk
In mid-2020, a viral video on the video sharing app TikTok created a chain reaction, causing the price of DOGE to rise significantly. One user told other users to buy Dogecoin, stating that they would "get rich" by buying coins and selling them once the price reached $1.
Musk via his personal Twitter account, mentioned Dogecoin in response to a YouTuber. “A lot of people I talk to on the Tesla production lines or building rockets at Space X own Doge. They are not financial experts or tech people in Silicon Valley. That's why I decided to support Doge - it's the people's cryptocurrency," he said.
This is not the first time that the Tesla strongman has taken a stand on the aforementioned cryptocurrency, whose interventions almost always work beneficially for its price, as it did today.
How to buy Dogecoin
A common question I often see on social media from beginners looking to get involved in Cryptocurrencies is “Where can I buy Dogecoin?"
Step 1 | one you should have an account at the exchange Binance. If you don't know how to register, you can see it here Detailed guide on YouTube.
step 2 | After you complete your registration and make your first deposit it will take you to the home page and you will go to the selection Trade and then in category Spot.
step 3 | Then you will go to the search and type it Doge and you will press click on DOGE / USDT.
step 4 | you will go to the point where it says spot you will press market and in total you will put the money you want to buy and press Buy DOGE.
DOGE COIN price prediction for 2023 – 2025
My personal opinion on Doge coin is a coin that has held significant levels and should be kept in mind because one of the richest people in the world is involved in it. Now in technical analysis what we need to be careful is not to lose the $0.5644 level because it is a very strong support that if lost they will start selling and the price will look for lower levels. One observation I have made is that every time the price has tried to break strong support, Elon Musk has been tweeting something about doge coin and the price has held there at 0.05644.
Now if someone wants to do DCA i.e. buy at various important levels for a future investment, the prices I would look at are at $0.05644, €0.02893, and a distant order to 0.00961€
????DISCLAIMER: Trading cryptocurrencies & stocks is VERY risky. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money. 🚨
