Tesla starts accepting once-joke cryptocurrency Dogecoin | Dogecoin price prediction for 2022
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Dogecoin is gaining hype day by day as many Artists, Investors and food chains are taking interest in dogecoin!
So This is a very important video for dogecoin holders and also for investors who thinking to invest in dogecoin So watch until the end to discover everything you need to know about it. Let me first give an overview of what dogecoin is and what is idea behind it for our audience that does not know about this cryptocurrency as Crypto Financial wants to make sure no one is left behind.
Originally formed as a “joke”, Dogecoin was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer. They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. In addition, they wanted to distance it from the controversial history of other coins. Dogecoin was officially launched on December 6, 2013, and within the first 30 days, there were over a million visitors to Dogecoin.com.
Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit. Within two weeks, Dogecoin had established a dedicated blog and forum, and its market value has reached $8 million, once jumping to become the seventh largest electronic currency in the world. Dogecoin is based on Scrypt algorithm, and the transaction process is more convenient than Bitcoin. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.
Elon Musk played a vital role in creating the hype for this coin and recently announced that anyone can buy Tesla using Doge Coin.The move, which sent dogecoin prices 14% higher, comes a month after Musk said Tesla would test out the digital token as a payment option. The SpaceX and Tesla CEO expressed his desire to have a happy meal, that too on his tweet from his official twitter account, but only if his one demand is met by McDonald’s.
Elon Musk took everyone by surprise when he posted a tweet saying, “I will eat a happy meal on TV if McDonald’s accepts Dogecoin.” For the unversed, Dogecoin is a cryptocurrency based on the famous “doge” meme. This post was Elon Musk’s own way of supporting the currency, plus, expressing his love for McDonald’s.
· MrBeast Burger fast-food chain has addressed Elon Musk with an offer that if he retweets its tweet, MrBeast will begin working on accepting Dogecoin as a payment method.
· Burger King is also considering accepting payments in Dogecoin after observing the Elong Musk Interest in Mcdonalds.
· U.S-based drinks shop, The Lost Leaf, has officially accepted Doge payments.
· Billy Markus has taken to Twitter to offer directions to the Doge community as to how to get businesses to start accepting Doge for their products and services.
Dallas Mavericks accepted the use of the coin for purchasing tickets. Mark Cuban, the Dallas Mavericks owner, tweeted that “DOGE is the one coin that people use for transactions.
Popular rapper Snoop Dogg got in on the fun as well with a mock “Snoop Doge” Shiba Inu album cover. This month, he auctioned his first collection of non-fungible tokens (NFTs), which could even be purchased using Dogecoin.
NFTs are a branch of crypto that people hope will enable digital art sales. Without going too far down the rabbit hole of NFTs, the fact that people could use Dogecoin to buy them was significant.
DOGE Gained Over 3100% in 2021
Dogecoin performed exemplarily in 2021. It’s true to say that 2021 is the best year for DOGE since its launch. At the start of the year, DOGE was trading at $0.005685. By February, the coin hit $0.034 and later went to as high as $0.7376 in early May.
What Awaits DOGE in 2022?
Some experts anticipate that by mid-2022, DOGE will hit the $1 mark. Others expect the price to go as high as $1.5 in the next five years.
According to technical indicators, Doge is currently trading below its 200-day simple moving average. Due to the massive developments the coin will undergo next year, it could easily perform better in the long term.
While there are expectations of DOGE hitting the new ATH at $1, investors might have to settle for a far less value at around $0.40, according to walletinvestor. For the coin to hit an immense high next year, it must continue garnering community support.
All in all, DOGE is expected to pump higher come 2022. Investors can wait and see how things pan out.
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