Dogecoin is currently experiencing a somewhat unexpected rally, gaining 12% in value today. In this article you will find everything you need to know about the project, including how and where to buy Dogecoin.
Best places to buy Dogecoin right now
What is Dogecoin?
Dogecoin (DOGE) is based on the popular internet “doge” meme and features a Shiba Inu dog in its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013.
The creators intended Dogecoin to be a fun, lighthearted cryptocurrency with broader appeal beyond Bitcoin because it drew on the dog meme. Tesla CEO Elon Musk has posted several social media messages saying Dogecoin is his favorite cryptocurrency.
Is it worth buying Dogecoin today?
Dogecoin has seen strength after large purchases by whale investors, but it still trades well below its all-time high. Currently it is valued at $0.17 according to CoinMarketCap data. Invest at your own risk.
Dogecoin price outlook
Experts quoted by Yahoo Finance have suggested DOGE could reach $1 by mid-2022. Some forecasts are more optimistic, projecting prices up to $1.50 over the next five years.
Based on technical indicators, DOGE is currently trading below its 200-day simple moving average. Given significant development and growing interest in the coin, it has the potential to perform better over a longer timeframe.
Dogecoin on social media
Are you all seeing this?? 👀 #dogecoin pic.twitter.com/T5KFSUzjSD
— ⭐️ Lil’ Doge ⭐️ (@dogecoin_empire) January 13, 2022