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.
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