Home Cryptocurrency

Today's Dogecoin Price • Should You Buy or Sell – Benzinga

Ads

Our team is diligently working to keep up with trends in the crypto markets. Keep up to date on the latest news and up-and-coming coins.
Dogecoin (DOGE) is a popular cryptocurrency regarded as a “meme currency” by most investors. The coin has pumped several times in the past, and many crypto investors trade Dogecoin against Bitcoin in hopes to accumulate more Bitcoin over the long term. While the long-term viability of Dogecoin is questionable, there has been an increasing amount of attention on the cryptocurrency after popular subreddit r/Wallstreetbets pumped the coin alongside other fundamentally poor investments like Gamestop and AMC.
Although Dogecoin doesn’t have a clear competitive or technical advantage over other cryptocurrencies on the market, the coin currently holds a market capitalization of over $70 billion dollars. This is in part due to Elon Musk’s vocal support for Dogecoin, with the Tesla founder noting on his Twitter account that “The most entertaining outcome is the most likely”. Perhaps the meme is mightier than the technology.
Musk has tweeted about Dogecoin several times, pumping the cryptocurrency’s price to new all-time highs. On March 12th, Musk encouraged Coinbase to add Dogecoin to its platform, and on April 1st Musk tweeted that he will be sending “a literal Dogecoin to the literal moon”. Although this is likely just an April fools joke, Dogecoin still pumped about 32% following Musk’s tweets.
Interested in learning more about Dogecoin and how it works? Our guide will teach you a little more about the history of Dogecoin, how you can start investing in DOGE and how you can use Dogecoin after you invest.
Contents
Like any other cryptocurrency, the price of Dogecoin will change on a day-to-day basis. On the morning before Elon Musk’s debut SNL appearance, DOGE reached a new all time high above $0.73 as anticipation of Musk bringing the coin to a wider audience continues to grow. View the immediate pricing information for Dogecoin below. 
Our team is diligently working to keep up with trends in the crypto markets. Keep up to date on the latest news and up-and-coming coins.
Dogecoin is a decentralized, open-source cryptocurrency introduced in December 2013. Dogecoin was created by programmers Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia. The original idea behind Dogecoin was to create a cryptocurrency that would be fun and more memorable to the public with the goal of increasing awareness of blockchain technology. 
Its mascot, the Shiba Inu, features the likeness of the popular “Doge” internet meme, from which the cryptocurrency draws its name. Though the coin was originally introduced as a joke, Dogecoin has gained a large amount of attention and a devoted online community.
Dogecoin is built on the same basic technology as other early cryptocurrencies like Bitcoin and Litecoin. It uses a blockchain to verify transactions and prevent double-spending attempts, providing a secure way to transfer value without the use of a centralized intermediary system. Unlike other cryptocurrencies, Dogecoin is infinitely mineable. This means that there is no limit to the number of Dogecoins that can be in circulation. In December 2020, there were over 127 million Dogecoins in circulation, in May 2021 there are 129 million. Dogecoin is currently the 4th largest cryptocurrency when measured by market capitalization with a total market cap of about $70 billion.
Dogecoin’s community has been involved in a number of public news stories, beginning with the 2014 Winter Olympics. The Dogecoin community launched a fundraising effort to collect $50,000 for the Jamaican Bobsled Team, which had qualified to attend the Olympics in Sochi but could not afford to attend. Dogecoin users were successful in their goal, and eventually extended their fundraising efforts to sponsor another athlete, luger Shiva Keshavan from India.
On March 25, 2014, the Dogecoin community successfully raised 67.8 million Dogecoins (a value of about $55,000 at the time) to sponsor NASCAR driver Josh Wise. In exchange for the sponsorship, Wise competed in the Aaron’s 499 at Talladega Superspeedway in a vehicle with a Dogecoin-themed paint job. Interest in both Wise and Dogecoin spiked immediately after the event. 
Dogecoin was created mostly as a joke, but it has gained use on social media communities like Reddit. Some users donate a small amount of Dogecoin to other users who produce interesting or noteworthy content as a way of saying “thank you.” A few businesses have also adopted Dogecoin as a payment method, including 97cents Web Hosting and SuchList.com.
Like any other cryptocurrency, you can also day trade DOGE and earn a profit by capitalizing on volatility. Here’s how it works — you’ll purchase DOGE when you believe the price will rise in the future. As the price of each DOGE increases, you can convert your DOGE to a stablecoin like Tether or USD coin. When the price of DOGE falls again, you can convert your stablecoin back to DOGE, accumulating more coins in the process. Because Dogecoin is a volatile cryptocurrency, even a small price movement has the potential to impact investor profits. 
Dogecoin was never intended to be a investment cryptocurrency. It was designed with a much faster transfer speed than Bitcoin, which makes it better for frequent transactions. The community is strong as many Dogecoin users are in it to have fun. For an in depth look, check out Is Dogecoin a Good Investment.
Dogecoin is currently the 4th most popular cryptocurrency, making it the highest market cap transactional cryptocurrency over Bitcoin cash, Litecoin and others.
The easiest way to buy Dogecoin is with a cryptocurrency exchange or broker that supports DOGE. Here’s a list of them

Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.

Crypto.com strives to make cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, crypto lending, and many other services. What really sets them apart, however, is the combination of super low fees and incredibly generous rewards programs for their users.

Dogecoin offers a number of benefits over other cryptocurrencies like Bitcoin and Ethereum when it comes to scaling. Dogecoin expands on blockchain technology, adding 1 block every 60 seconds. By comparison, Bitcoin adds 1 block once every 10 minutes, while Litecoin adds 1 block once every 2.5 minutes. This allows Dogecoin to process transactions faster, which also limits vulnerability to hacks and fraud. Dogecoin users also pay a single flat-rate fee when transferring coins, which can be beneficial for users transferring large amounts of crypto.
Despite these features, Dogecoin’s network is fairly small, and therefore less secure. The vast majority of traditional investors believe that Dogecoin is not a good investment. That being said, the highest price ever paid for Dogecoin was $0.69 USD, which was reached on May 5, 2021. As Warren Buffet says, the market can stay irrational longer than you can stay solvent.
There are thousands of cryptocurrencies on the market, and each offers its own unique use cases. When investing in crypto, it’s important to remember that Dogecoin was not created to offer a practical use-case. Instead, it focuses on using internet memes and crowdfunding efforts to help the public learn more about how cryptocurrency works as a whole.
If you do decide to invest in Dogecoin, we recommend using it as only a minor percentage of a highly diversified portfolio.  
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
Disclaimer: As per the European Securities and Markets Authority (ESMA), the percentage of retail clients losing money on CFD trading must be updated every three months. Please note that eToro’s new results are 67% in regards to retail investor accounts losing money when trading CFDs with eToro. Due to this change, we require you to immediately update all of your eToro related promotions, web properties, and campaigns featuring CFD disclaimers to 67%.
This content should not be interpreted as investment advice. Cryptocurrency is a volatile market, do your independent research and only invest what you can afford to lose.
Want to advertise with us? Send us a message
© 2022 Benzinga | All Rights Reserved
Advertiser Disclosure: TD Ameritrade, Inc. and Accretive Capital LLC are separate, unaffiliated companies and are not responsible for each other’s services and products.
Editorial Disclosure: Reviews are as determined by Benzinga Money. Opinions expressed here are solely the author’s and have not been reviewed, approved or otherwise endorsed by reviewers.

source

Ads
Previous articleApple's iPhone X: The First Field Report – WIRED
Next articleWindows 7 dies January 14: How to move from Windows 7 to Windows 10 – PCWorld