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Future of Dogecoin in Indian Crypto Market

I'm going to discuss about "Dogecoin," which is frequently discussed, and its prospects in the Indian cryptocurrency market currently.

The younger millennial generation finds cryptocurrency investing to be particularly enticing. They are willing to take a risk to invest and trade with Dogecoin. Despite the fact that Dogecoin is currently being touted as an investment just like to Bitcoin, it is incorrect to compare both coins. Dogecoin has its own fan base and become popular by memes, has been said to be increasing recently, and even welcomed billionaire Elon Musk, but it would be inaccurate to compare it to Bitcoin.

Because the distinction between Bitcoin and Dogecoin is important. Dogecoin isn't really a cryptocurrency at all. That is meme money. Many more variations exist. While Bitcoin was developed with the goal of being a new type of technology called peer to peer (P2P)money, allowing users to transact directly without intermediate, Dogecoin was developed based on a meme and viral that was widely used on the Internet.

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The most widely shared meme on the internet ten years ago was a photo of a Shiba Inu dog. As crypto-currencies also gained popularity during this time, Billy Marcus and Magnus Balmar joined forces to create Dogecoin in order to mock the fad.

Dogecoin therefore basically made its debut as a joke. Even those founders weren't serious about it. In addition, the company's founders sold all of their Doggy Coins and departed. The amount of Bitcoin that can be created has a maximum. However, Dogecoin can be created indefinitely. As many Dogecoins as possible can be produced and used. Five million additional coins are being added to the existing one billion coins in circulation.

But many people supported Dogecoin with a smile in Indian Crypto market because they enjoyed its humour and sarcasm. In this manner, Dogecoin was created as a meme currency. There are numerous other meme coins besides Dogecoin. However, not every one of these can be changed into Bitcoin. Remember that despite being available for purchase at crypto exchange locations, Dogecoin cannot be used to make any physical purchases.

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By the close of trading today, Dogecoin is supplied 139,213,656,384, and the price is $0.07897.

References:

1.https://coinmarketcap.com/currencies/dogecoin

2.https://foundation.dogecoin.com/about/

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