Unveiling the Big Things About $DOGE That You Didn't Know!

The speed at which Dogecoin is being issued in the cryptocurrency world is actually quite astonishing, with new coins popping up every minute, resulting in 5 billion new coins each year. But did you know? Even with such an issuance, its market value only grows a little each year, around 3%, which translates to about 200 million dollars.

Speaking of the origins of Dogecoin, we have to trace back to 2013, when two big shots, Billy Markus and Jackson Palmer, joined forces to create it. Initially, DOGE was incredibly cheap, at just $0.00059 per coin. Back then, mining was still profitable, and Markus even sold some Dogecoin to buy a used Honda Civic.

Now Dogecoin is quite popular in the trading market, with Binance and some major platforms trading it. However, despite its apparent popularity, the holders are actually quite concentrated, with the top ten holders accounting for over 42%, leaving the rest to share the remaining small slice of the pie. Another issue with Dogecoin is that it is 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, equating to about 380 billion coins.

When it comes to Elon Musk, he is truly a blessing for Dogecoin; a single statement can send Dogecoin's price soaring. For instance, when he said he would send Dogecoin to the moon, the price immediately jumped by 238%. When he acquired Twitter, Dogecoin rose by 163%, and even changing his Twitter profile picture can cause Dogecoin to go up by 30%.

He has also promoted the use of Dogecoin, allowing it for Twitter subscriptions and payments for SpaceX and Tesla merchandise, resulting in another wave of price increases. However, Musk is not always so supportive; once he called Dogecoin a scam, and the price immediately dropped by 34%. But the market always fluctuates, and later Dogecoin rose back again, now the price has quadrupled.

Dogecoin is also quite popular in the payment sector, usable in over 100 countries worldwide, and Musk's promotional efforts have been effective, with even high school girls and KTV hostesses starting to buy Dogecoin. Many outsiders may not recognize BTC, but they can recognize DOGE.

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