Crypto influencer and US Presidential candidate John McAfee recently praised Dogecoin for its usage. In a tweet, McAfee shared an article from Coindoo called “Can Dogecoin (DOGE) Become the World’s Favorite by 2020?” saying:
“Doge started life as joke/prank coin. The coin now has a market cap of $360 mil. The crypto market is, in no way, related to the stock market. Inherent value is, ultimately, based on usage. Doge is one of the fastest growing coins based on use. Go figure.”
McAfee has always had a soft spot for Dogecoin, he has called it adorable and liked its branding as “Doge” which is quite popular on the internet. Even Billionaire and Tesla CEO recently called Dogecoin his Favorite Cryptocurrency.
According to Coinmarketcap, Dogecoin is currently the 29th largest Cryptocurrency with a market cap of $373 Million. DOGE is trading at $0.0031, up 25% in the past month.
Dogecoin was created by Jackson Palmer as a joke in reference to the popular Shiba Inu meme but soon took off as developers and users took interest in the coin and created an active community around Dogecoin. Despite several bear markets, Doge has managed to not only survive but also thrive in the 5+ years of its existence.
Unlike most Cryptocurrencies, Dogecoin is used for actual transactions on the internet instead of trading on exchanges for speculation and financial gain which is evident considering the daily onchain transaction volume and exchange volume data.
Blockmanity recently reported that Dogecoin has more active addresses than bigger Cryptocurrencies like Monero, Litecoin, and Tron.
Dogecoin also recently got listed on bigger exchanges like Huobi,Vertbase and Coinbase Wallet.
Also Read:
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
In the rapidly evolving landscape of web-native payments it has become clear that new infrastructures…
A New Era for Global Trade: Alibaba Taps JPMorgan's Blockchain Global commerce has long been…
The Promise of Web3 Meets a Centralized Reality Web3 was built on a revolutionary promise:…
Bitcoin's Sudden Plunge Shakes the Crypto Market The cryptocurrency market is awash in red after…
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…