Dogecoin Major Events Revealed, You Might Not Know Them All!
The issuance speed of Dogecoin is astonishing, with new coins emerging every minute, totaling 5 billion coins per year. Yet, despite such issuance, the market value only increases slightly each year, about 3%, which is roughly 200 million USD.
Dogecoin has been around since 2013, created by two big names, Billy Markus and Jackson Palmer. Initially, Dogecoin was incredibly cheap, only a few cents per coin, and it was still possible to mine back then. Markus even sold Dogecoin to buy a used Honda Civic.
Now, Dogecoin is quite popular in trading markets, with major platforms like Binance facilitating trades. However, the distribution of coins is quite concentrated, with the top ten holders owning over 42%, leaving the rest to share a small piece of the cake.
Dogecoin is also easy to lose; statistics show that 11.2% has already been lost, which is about 200 billion coins. Additionally, 19% of Dogecoin has been dormant in wallets for over a year, amounting to roughly 380 billion coins.
Elon Musk is like a lucky star for Dogecoin; just a single statement from him can send Dogecoin’s price soaring. For example, when he mentioned sending Dogecoin to the moon, its price immediately surged by 238%. When he acquired Twitter, Dogecoin rose again by 163%. Even changing a Twitter profile picture could lead to a 30% increase in Dogecoin's price.
He has also promoted the use of Dogecoin, allowing subscriptions to Twitter, and payments for SpaceX and Tesla merchandise using Dogecoin, resulting in another price surge. However, Musk is not always supportive; once he called Dogecoin a scam, and the price immediately dropped by 34%. But the market always fluctuates, and Dogecoin eventually rebounded, with its price quadrupling now.
Dogecoin is also quite popular in the payment field, usable in over 100 countries worldwide. Musk's promotional effect is impressive, even high school girls and KTV attendants have started buying Dogecoin. Many may not know about BTC, but they recognize DOGE!
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