What’s the Big Bark About Doge?

What is Dogecoin and why are people talking about it?

Murray NE- If you’ve seen tweets in your twitter feed that say, “Doge to the Moon” or images of a Shiba Inu on a gold coin, then you’ve stumbled upon Dogecoin memes. These memes are partially responsible for the growth behind the cryptocurrency Dogecoin. Tesla CEO Elon Musk and other companies like SlimJim and Axe are also responsible for the growth of this altcoin.

Originally Dogecoin was developed as a meme, but as time went on, it slowly started picking up traction. Dogecoin’s initial offering was only fractions of a penny. As of May 7, Dogecoin was worth more than $0.40. Although hardly any online retailers utilize this coin as a form of currency, many people barter with it on twitter and reddit. Many NFTs (non-fungible tokens) sell for large amounts of Dogecoin.

Dogecoin has also gained the reputation of being a “get rich quick” scheme. Even though you can theoretically get rich quick, it’s still a very volatile investment. Glauber Contessoto, an Elon Musk fan, took every piece of advice that Elon tweeted regarding Dogecoin and its future. Contessoto liquidated all of his stocks and savings and invested in Dogecoin. His family warned him of the risk and volatility but it paid off. He made more than a million dollars from Doge.

While Doge is still a newer crypto and volatile it is worth investing in it and following its growth. Doge has a strong community behind it and a lot of potential. With many celebrities and well known companies backing Dogecoin, the future looks bright and promising.