Dogecoin may be resultant of a meme, but the popularity and shock waves it has created in the corridors of cryptocurrencies is due to the mighty hand of Elon Musk, one of the wealthiest persons alive. He had tweeted in support of the digital currency coin, and since then, it climbed manifolds. Also, the movement of the token and marketplace have been unprecedented since then.
Now, Musk has got a prefix to his name, Dogefather, by throwing his weight behind Dogecoin on multiple occasions. Whenever he has tweeted in its favour, the digital coin has eloped toward gains. Tesla CEO has been promoting it like his own, and the financial market has reciprocated it.
The current market cap of Dogecoin is USD 28.059, and it is slated to grow from here. Moreover, the average volume of Dogecoin remains near 1.43 billion in 24 hours. Thus, the figures and the trust of traders are fuelling the growth of the cryptocurrency in the market.
Interestingly, the official launching of Dogecoin happened on December 6, 2013. Currently, the total supply of this digital coin is 130,317,636,824.
The 30 days volatility is 52.67 per cent. However, some say that it is inflated and soon slip. But millions of volumes daily debunk it. Also, it has gained profits shortly. Meanwhile, being here for almost eight years says a lot about the coin’s resilience, and it is not a one-time wonder.
It was formed as a joke by Billy Markus and Jackson Palmer. They both are engineers.
Notably, Musk suggested several points that may help generate even greater investment in Dogecoin days to come. He tweeted that low costs and high volume can make it the currency of Earth. He’s making it believable for every trader now.
In recent times, Dogecoin has fluctuated a lot and offered enormous opportunities for generating funds. It despite the fact that China has banned all decentralised cryptocurrencies through a massive crackdown. Interestingly, around eighty per cent of miners hailed from China.
The clampdown happened as the dragon launched the world’s first centralised digital currency, e-yuan. However, Dogecoin is turning heads by leaps and bounds.
Now, investors can trade Dogecoin on T1Markets. It is one of the fastest emerging brokers worldwide that have special offers for all traders.
The broker has won several awards to its credit in a brief period. Some of them include the best CFD broker, the most trusted forex broker, best customer service, best crypto broker, best forex education provider and others.
With the latest addition of Dogecoin in T1Markets, experts anticipate that plenty of users will join the brigade of investment in digital currency. Thus, the market will get bigger, resulting in an influx of funds and volumes.
The broker T1Markets is known for its zero per cent commission, 300 plus assets for trading, availability of 10,000 markets for trading, spreads starting from 0.03 pips and 24/5 customer service support.
Besides, the brokerage company is offering educational tutorials, ebooks, courses, and others. Moreover, high leverage and platforms like MetaTrader4 help in easing out the trading scenario for brokers.
Experts believe that the combination of Dogecoin and T1Markets will be phenomenal as time progresses.