Dogecoin: A miraculous journey in the tide of issuance, are you ready?
Tracing back to 2013, the birth of Dogecoin was the result of the ingenuity of two wise men, Billy Markus and Jackson Palmer. At that time, the price of one Dogecoin was only $0.00059, which was unbelievably low. Markus even exchanged Dogecoin for a used Honda Civic, which was not only an initial recognition of Dogecoin's value but also a vision of the infinite possibilities of digital currency in the future.
Today, Dogecoin is thriving in the trading market, with major exchanges like Binance incorporating it into their platforms. However, behind the prosperity, the distribution of holders appears to be quite concentrated, with the top ten holders occupying over 42% of the market share, while the remaining people share a small piece of the limited cake. This is both a testament to the popularity of Dogecoin and a challenge for investors' layouts.
But the journey of Dogecoin has not been smooth sailing; loss and dormancy have become problems it must face. According to statistics, 11.2% of Dogecoin has permanently disappeared into the fog of the digital world, equivalent to a massive loss of 200 billion coins. Additionally, 19% of Dogecoin has been dormant in wallets for more than a year, totaling 380 billion coins, as if they are waiting for a moment to be awakened.
When mentioning Dogecoin, one cannot overlook the legendary figure of Elon Musk in the tech world. A single statement from him can stir up tremendous waves in Dogecoin's price. From the grand ambition of "sending Dogecoin to the moon" to the price surge triggered by the acquisition of Twitter, and further to the 30% increase caused by changing Twitter's profile picture, Musk seems to possess the magic to control Dogecoin's price.
In the payment sector, Dogecoin also shines brightly, with its presence seen in over 100 countries worldwide. Musk's promotional effect spreads like a virus, drawing even high school girls and KTV waitresses to join the Dogecoin investment army. Dogecoin's popularity has even surpassed that of some established digital currencies, becoming the first choice for many entering the cryptocurrency space.
