For 7 years, Dogecoin has been a cryptocurrency available for purchase. Starting off as a joke, it has become so much more.


What is Dogecoin?

Dogecoin is a cryptocurrency and has been since December 2013. It originally started off as a joke between two friends who laughed at the idea of cryptocurrencies. As a result, Dogecoin was made, with the word Doge coming from a meme of a dog. Up until 2021, it hardly reached over £0.003, not even the value of a single penny. However, during 2021, its share price has drastically increased, peaking at £0.46. It seems like an insignificant amount to most people, but this rapid growth of over 15300%, is extremely valuable.


Should you invest in Dogecoin?

Maybe. Some see Dogecoin as a dangerous endeavour due to its unstable nature. Ever since that monumental peak of £0.46, it has fallen gradually to being around £0.17 today. However, it still has hope. There is a lot of potential for growth as it has become a far more regular and predictable cryptocurrency. After 2021, it has lost its status as a joke but is now a real financial asset. If you do invest, your gains won’t be huge but neither will your losses.

The reason Dogecoin is more unique than most other currencies aren’t controlled by popular culture. Dogecoin for many years has risen thanks to the popularity given from tech billionaire Elon Musk. Musk regularly tweets about the currency, and when he does there is a tremendous correlation  between when he does and the share price rising.