At the beginning of this year, “Dogecoin surged more than 250% in one day” was on the Weibo hot search, and this somewhat funny and somewhat nerdy dog reappeared in the public’s view, becoming the focus of attention for both in and out of the circle. Together with the support of Musk, the number one netizen in the universe, Dogecoin has deservedly become the “star of the cryptocurrency circle” in the first half of 2021. It’s interesting to note that young Americans refer to Bitcoin as Old school, saying, “Old people buy Bitcoin, we young people play with Dogecoin. This shows how young people are currently fond of Doge. Today let’s learn more about this Dogecoin which is popular all over the world.
After the dogcoin system was launched, it exploded through the help of reddit, and it only took two weeks to lay down dedicated blogs and forums. By April 2021, dogcoin’s market cap had reached 226.3 billion and the number of client addresses reached 3.29 million, and its market cap had doubled 2,000 times in six years. The number of followers on Reddit has grown rapidly from 1.2 million to 1.5 million in just nearly a month, almost five times the number of followers of Litecoin. The average daily trading volume has long been among the top three virtual coins. The biggest value in the Internet era is the huge number of users. It took one year for the user base of Dogcoin to reach one third of the number of Bitcoin users and four times that of Litecoin.
There are currently two main types of applications for dogcoin, which are reward and charity.
Due to the low price of dogcoin, coupled with the extremely likable Shiba Inu image making it entertaining and topical, it has quickly gained popularity among internet users and is often used as a reward currency for reddit and some live streams. Especially in the United States, where the tip culture is prevalent, people can reward the creators of quality content in the form of tips, “liking” meaningful content and helping to spread valuable content more closely on the Internet. For example, two reward applications, the Doge Tipping App and Multicoin Tipping App, have received permission from Facebook to go live, allowing users to reward comments on Facebook; in October 2014, the real-time streaming video platform Twitch announced on its official twitter account that In October 2014, Twitch announced on its official twitter account that the company has accepted dogecoin as its payment subscription method. In addition, dogecoin also has its own charity fund, which has funded numerous charity projects and helped many people realize their dreams, which is another reason why dogecoin is so popular.
Rather than being the next Bitcoin, Dogcoin is a bridge and a tool that can bring more people into contact with Bitcoin or crypto assets. What it is. How did you learn about bitcoin? Feel free to share with us in the comments!
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/how-did-dogcoin-become-a-netflix-coin/
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