The Dogecoin Market and Its Effect on Meme Coin Trademarks
Dogecoin is a relatively old digital currency designed by software designers Billy Markus and Jackson Palmer; who intended to create a peer-to-peer payment system as an amusing joke, making light of the often ridiculous high-value bets in Cryptocurrencies at the time. However, despite its playful tone, some consider it an actual investment prospect, paving the way for Dogecoin’s future growth as a profitable investment vehicle. Dogecoin started out as a type of virtual currency, tied to the price of a unit of doge (the smallest unit that is equivalent to a doge), which was used to pay for web browsing and other online transactions. Today, it trades on major exchanges including eBay and Bitrex.
Mining is the Dogecoin version of fossil fuel extraction – it is an essential activity that helps the network maintains its value. Unlike traditional coins and notes, Dogecoin is minted from a doge piece (“dollars”) that are transformed into real coins after a number of years. These coins are usually given as Dogebills, although there is also a certain amount of effort required to “mine” doges (“mine” is slang for acquiring coins). This method of mining is important to the health of the Dogecoin economy. Since the quantity of doges issued per week is limited, successful mining may result in Dogecoin worth decrease.
Because of this dynamic, the Dogecoin marketplace has become highly volatile, causing Dogecoin prices to soar and causing long-term commitment from new investors. With this unstable market cap, it may be a while before Dogecoin really takes off and becomes a serious contender in the world of Cryptocurrencies. In the mean time, it serves as a great form of investment for casual Cryptocurrency fans, like myself, who want to participate in a fun, fast paced market that has some built in novelty factor. After all, what fan of Cryptocurrency doesn’t like a good laugh?
If you’re a Dogecoin fan, you’ve probably seen the popular DogeBiz site, or know somebody who’s a Dogecoin enthusiast. The DogeBiz website acts as an exchange for many new interested entrepreneurs who wish to try their hand at trading Dogecoin. At DogeBiz, an interested investor can search for available Dogecoin and view their value in real time. For some reason, finding DogeCoins for sale on this website seems to be a very common occurrence. This consistent trend has led many novice traders to question if there is some value to buying early and selling late.
It’s hard to say for sure whether Dogecoin has a long term future, or whether this trend will last. It is, however, safe to say that there is at least a measure of popularity behind the “shiba inu” name. Dogecoin was created as a reaction to the highly lucrative Shiba brand of dog clothes, so it would make sense that a successful venture into trading Dogecoin could lead to a lucrative line of business involving Shiba Inu clothing. Many traders have already caught on to this notion, and as the economy of Japan continues to spiral out of control, the value of Shiba Inu stock is on the rise.
As of this writing, Dogecoin is traded on over 150 digital currency exchanges, which offers a wide range of Doge Coins for sale. Many observers feel that this is a good indication that the joke is on Dogecoin, and that investors are dumping their coins as they realize that the joke is on them. Others see it as bullish, as the joke gets more traction and value.
Dogecoin has achieved its current status as an internet meme and flash website amusement piece, and many believe that it is here to stay. However, this does not mean that there is any concrete evidence to back up these claims. The Dogecoin market has only grown in the past few months, and as the joke goes, you can take your pick of any two dogs, but not of one dog, if you are a pack leader.
One trend that seems to be common to all trends is that something comes along that makes people laugh, and then the joke spreads like wildfire across the world wide web. The Dogecoin market is just the latest example of this. If you choose to invest in Dogecoin now, you could be laughing all the way to the bank in the not too distant future.