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Best crypto exchange rate- LoadNG Present Rate
Best crypto exchange rate- LoadNG Present Rate

Billy Markus, a well-known dogecoin co-founder, recently stated on Twitter that he purchased the meme-inspired cryptocurrency “after 8 years of pledging never to buy digital assets again.”

The meme coin’s founder’s message occurred at a time when crypto assets were under heavy selling pressure, with the meme coin losing a significant portion of its value after hitting an all-time high above $0.70 in May.

The crypto asset had high buying pressures as it traded around $0.23 at the time of writing this report, showing daily gains of more than 11% for the day amid selling forces notably witnessed in many top altcoins.

The market value of the sixth most valuable crypto asset is currently about $30.3 billion. Elon Musk’s recent response to a comment made by dogecoin’s main developer, Ross Nicoll, that a new fee cut is “an important improvement,” is adding support to its current upward trend.

What you need to know

  1. The meme currency is a decentralized crypto asset that allows for peer-to-peer digital transactions. As a result, you can send money online with relative ease. It’s commonly referred to as “online money.”
  2. In several aspects, it differs from BTC’s proof-of-work methodology, one of which being the use of Scrypt technology. The fast-growing altcoin also has a one-minute block period and an unlimited total supply, indicating that there is no limit to how much Dogecoin may be mined.
  3. Dogecoin was established by Billy Markus, an American entrepreneur, and Jackson Palmer, an Australian. About eight years ago, it was forked from Litecoin.
  4. The meme currency is only used as a tipping mechanism on prominent social media sites such as Twitter and Reddit to reward great content creation and sharing.