The JokeCoin Is Valued More Than $1.17 billion

The JokeCoin Is Valued More Than $1.17 billion

Dogecoin, the cryptocurrency that was created as a joke back in 2013 now has a market capitalization of over a billion US dollars. $1.17 billion to be exact. According to CoinMarketCap, one dogecoin is traded for $0.10360 as of January 5.

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Dogecoin, the cryptocurrency that was created as a joke back in 2013 now has a market capitalization of over a billion US dollars. $1.17 billion to be exact. According to CoinMarketCap, one dogecoin is traded for $0.10360 as of January 5.

In December last year, the altcoin value surged by 400%, reaching an all-time high at $0.107 per token. We can trace the “jokecoin” roots to the Bitcoin stem. The technology behind cryptocurrencies relies on peer-to-peer digital tokens. Most of the digital currencies share the same basic algorithms. Other altcoins such as Ethereum also gained massive success in recent months. On January 4, Ether coins surpassed the $1000 mark for the first in history. Another descendant is Ripple, which stole the show by reaching 35.000% price surge in 2017.

Dogecoin became famous for its mascot – a Japanese Shiba Inu dog. The dog itself is popular for being used in various memes since 2010. The Dogecoin team created the virtual token for customers who prefer to send money online. If you want to put your hands on Dogecoins you can do it by purchasing them on online markets, get tipped or mine them if you like.

Jackson Palmer, Dogecoin’s founder told CoinDesk that interest in Dogecoin wasn’t slowed down even by the lack of software updates in the last years. The Dogecoin crew are now concerned about market excess because the altcoin skyrocketed beyond everyone’s expectations.

As of today, the total market capitalization of cryptocurrencies is estimated by CoinMarketCap to be over $750 billion. Unsurprisingly Bitcoin has the lion share of 40% of the amount. Dave Chapman, managing director at Octagon Strategy, believes that the success of every altcoin is based on their cheap prices.

Hence most of the people who just enter the world of cryptocurrency trading find Bitcoin and Ethereum far too expensive they often refer to less popular tokens. The psychological satisfaction of owning something whole instead of just a fraction of something plays a major role in trading. According to Chapman, one would feel much better for buying $1000 worth of Ripple rather than the same amount of Bitcoin. Additionally, new investors believe that unpopular currencies might reach top-level prices like Bitcoin and thus the prefer putting their money in something labeled as being highly prospective.

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