$BTC.X Is Big, But Not The Only Fish In The Ocean When it comes to the market, on January 3, 2009, Bitcoin is the only digital currency. It is not long, however, before others come up. Today, there are hundreds of digital coins. Dogecoin is among them. What is Dogecoin or Doge? When does this altcoin start? Is there anything good investors can expect from this coin? These are essential questions we need look at.
Why Dogecoin May Be A Bigger Fish Than Bitcoin In The Ocean?
Dogecoin or DOGE as others prefer calling it is a decentralized currency. The start of this coin is a joke. Not even the founder thinks that it will be anything in the end. Fortunately, today, the doge is something to reckon with.
Named After The Japanese dog Shiba Inu
This altcoin comes into force in 2013. As you can see, it is not many years the coin is in circulation. Many who know it can tell you that it uses a Japanese dog, Shiba Inu. When it starts to work, it is only for tipping. Otherwise, nobody thinks it will be anything more.
For a reason for its use in tipping, the owners call it quits. But things are now changing. Today, the doge is at par with the rest of other digital currencies. In recent days, there is a surge in the price of this coin. Above all, this is making it one of the digital coins to reckon with.
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What does this mean to a typical cryptocurrency investor?
By January 7, 2018, the coin’s market cap is $2 billion! Also, this is what the coins stands at for now. How many altcoins that start early than doge that have not hit a $1 billion? There are many. In fact, there is one that is not even $500, 000! With a market cap of $2 billion, which is likely to soar even more, the coin is sending a message. It is high time to know that Bitcoin is not the only player in the crypto field. There are many more coins that are coming up. The coins that are already in the area are giving the traditional altcoin a stiff competition.
New Altcoins Come On The Market Daily
What is more is that new digital coins come to the market on a daily basis. Above all, this is because there is ‘initial coin offering’ (ICO). For now, CoinMarketCap, a site that centers on digital currency has a long list. According to the site, currently, there are over 1, 400 digital currencies or tokens. All these are on the site. They all want a piece of the cake in the market cap.
Sexcoin, PutinCoin, or InsaneCoin?
Some of the digital coins are not in the news. But that does not mean they do not exist. They are on the list. They too have a slice of the pie. For instance, do you know of Sexcoin, PutinCoin, or InsaneCoin? Do you ask what names? Yes, these are some of the coins or tokens on the list. The three, when put together have a market cap of $7 million.
It is true that most coins are nothing but curiosities. But do you know that by January 10, 2018, 40 altcoins have a market cap of $1 billion? Also, this is how powerful these coins are getting. So, when Dogecoin comes as a tip, it is heading afar.