Dogecoin The amazing currency that came to this price with ElonMusk tweets and the support of people like Jack Dorsey from Bitcoin, is it worth selling right now? Or when will it be time to sell it? In this article, we will answer your questions about Dogecoin on the shetcoiner site.
Dogecoin
Dogecoin is a Blockchain network based on Bitcoin code, which was introduced to others in 2013 as a joke by its creator, while there was no software or hardware at all, and it was just a joke! But after a while, another programmer joined the one-man development team, and a two-person Coin and Blockchain development team called the Dogecoin project was formed. The team was developed by Billy Markus and Jackson Palmer, but other developers were added to the team over time to develop Dogecoin.
DOGE is the symbol of this crypto currency in exchange offices and its symbolic image is made of a breed of Japanese dog named Shiba Inu. Of course, Shiba Inu is also the name of another coin that increased in price and became profitable after Bitcoin became famous, but it is not very expensive at the moment.
Many years, Dogecoin team’s only goal was to use this crypto currency to reward content creators on social media for appreciation. But after a while, this crypto currency found a higher price, it became a little harder to use, and maybe you used to pay a little less than $ 10 to give 10,000 Dogecoin to a blogger, but now to buy 10,000 units from Dogecoin You should have a budget of around $ 3,000!
What made Dogecoin grow?
Many factors went hand in hand last year and this year and increased the price of this coin in a chain, but if we want to tell you, we can mention the following.
1- Elon Musk Twitter support for Dogecoin
2- The sudden increase in the price of Bitcoin following the influx of large investors into this market
3- Elon Musk Twitter support for Bitcoin
- Implicit support and other people like the manager of Twitter, Jack Dorsey
5- Increasing the discussions of accepting or rejecting Bitcoin and Blockchain and increasing the public knowledge of Bitcoin and Blockchain
6- Halvin Bitcoin and the reduction of the remaining extractable currencies of Bitcoin
When can we sell Dogecoin?
Dogecoin has grown a lot this year and last year, along with the growth of Bitcoin and the support of Elon Musk. Of course, after the fall of Bitcoin from about 64 thousand dollars to 30 thousand dollars, the price of Dogecoin has decreased a lot, but again with the growth of Bitcoin in the market and reducing the share of Bitcoin dominance in the entire crypto market, the price of Dogecoin and other Altcoins have risen sharply. The price of Dogecoin is almost very close to the previous good ceiling.
Many questions may be asked when we should sell Dogecoin, you can sell your Dogecoin whenever you need and want, but pay attention that with the increase in the price of Bitcoin again and the strengthening of Altcoins and Dogecoin, this currency is definitely worth it. Will get higher prices with the support of Elon Musk, so do not take too much risk in this area and try to keep your Dogecoins.
Of course, if you have invested a lot of money in Dogecoin, you can save some of your profits for yourself, but always try to invest some of your entire life capital in high-risk markets that you do not need urgently.
Many questions may be asked when we should sell Dogecoins, you can sell your Dogecoin whenever you need and want, but note that with the increase in the price of Bitcoin again and the strengthening of Altcoins and Dogecoin, this currency is definitely worth get higher prices with the support of Elon Musk, so do not take too much risk in this area and try to keep your Dogecoins.
Of course, if you have invested a lot of money in Dogecoin, you can save some of your profits for yourself, but always try to invest some of your entire life capital in high-risk markets that you do not need urgently. .
What factors will reduce the price of Dogecoin?
1- Bitcoin does not reach its price ceiling of about 64,000 dollars
2- Strengthen Bitcoin dominance over the whole market and reach over 50% of the total market
3- Insufficient support of Elon Musk and other people from Dogecoin
4- Failure to update and develop the programming of this crypto currency and reduce transaction fees
5- Attracting other investment markets to crypto
So if these things that we have listed above happen to you in a chain from Dogecoin, you can be sure that Dogecoin will not grow anymore because these items have been one of the main reasons for its price increase in recent months.
