Why Dogecoin Is A Reasonable Investment In 2021
Currently, Dogecoin is one of the popular cryptos in existence. It is incredibly popular that even the likes of SpaceX CEO Elon Musk claim it is his favorite cryptocurrency. Dogecoin is proving to be a fantastic investment in 2021. What started as a memecoin is one of the top cryptocurrencies in the world.
Created in 2013, Dogecoin is popular crypto with lots of following. The crypto was built to be a supportive introduction to crypto for people with little or no knowledge about cryptocurrency in the past.
Dogecoin is very different from Bitcoin’s proof of work protocol in diverse ways. One of such ways is through the use of Scrypt technology. The coin has a total block time of 1 minute, along with an unlimited supply. This means there is no limit to the amount of Dogecoin that can be mined. Dogecoin can be mined using Linux, Windows, or Mac along with a GPU. Dogecoin can be mined solo or via a mining pool.
Dogecoin is proving to be a good investment option for people in 2021. The reason for this is that
Dogecoin Scales More Than Bitcoin
Dogecoin is housed on very basic technology associated with cryptocurrencies. The simplicity of the technology means transactions can happen at high-speed rates. With this, users have a secure way to send, receive and spend money without intermediaries.
Dogecoin uses Scrypt in its algorithm. This makes the cryptocurrency have a faster processing speed than Bitcoin. This could be one of its alluring points for future adoption and integration.
It has support from some of the biggest names in the industry.
From celebrities like Paris Hilton, and Snopp Dog, to big names in the tech world like Elon Musk, Dogecoin has a lot of support. The good news is that these big-time names promote Dogecoin. Tweets from Elon Musk have been known to create a price surge for Dogecoin. Therefore, people who had little or no idea about cryptocurrencies like Dogecoin now consider them an investment option.
Great developer team
The development team behind Dogecoin is as great as any other team in the business. The team is dynamic, and that offers lots of promising long-term options for growth and development. The team is very dynamic at its core. They engage in lots of enhancements that ensure the crypto is very versatile and adaptable to business needs.
Top tier currency
Dogecoin is by nature inflationary, and that means there’s no fear of institutional hoarding. Market capitalization gives a good insight into how formidable a coin is in the market when it comes to crypto strength. Dogecoin is a top-tier coin with over $27 billion market capitalization, making it the top tenth crypto by market capitalization.
These metrics show that Dogecoin holds lots of promise in the market, and it can be a good investment option for people in 2021.