Thursday, July 25, 2024

‘Remain Calm,’ says Dogecoin Co-Founder, as Crypto Prices Plummet

Billy Markus, the co-founder of meme cryptocurrency Dogecoin, has urged supporters to “remain calm” in the face of the cryptocurrency’s lack of traction since January 2022.

He believes that businesses will eventually stop acknowledging Dogecoin and that cryptocurrency will lose its appeal to newcomers, as well as existing Dogecoin investors who will flee the negative environment.

He stressed the importance of matching your output to our objectives. Regardless of what is going on around you, keep trying to be optimistic, gentle, and enjoyable.

Meanwhile, since the beginning of 2022, Dogecoin has already been falling victim to market turmoil. According to CoinMarketCap, Dogecoin was trading for around $0.15 in the last 24 hours, with a loss of as much as 3.36 percent.

Dogecoin was created in 2013 by software program engineers Billy Markus as well as Jackson Palmer as a faster but “enjoyable” alternative to Bitcoin.

From Just a Meme Coin to one of the Most Popular Cryptocurrencies

It started as a parody of the numerous fraudulent cryptocurrencies that had emerged up at that point, and it gets its name and brand from a Shiba Inu meme that went viral a few decades ago.

Dogecoin is supported by multibillionaire tech mogul Elon Musk. He just announced that DOGE will be accepted as a form of payment for select Tesla merchandise.

In a subsequent interview with Time magazine, Elon Musk, CEO of Tesla and SpaceX, stated that Dogecoin is a far superior cryptocurrency in terms of daily transactions. Bitcoin has a low transaction value and a high transaction fee.

It’s appropriate as a value retailer at the very least on a local level. However, despite the fact that Dogecoin was established as a quip, it is better suited to transactions, Bitcoin is not a good substitute for transactional foreign money.

Cryptured.com strives to bring the latest news and updates in the world of cryptocurrencies, NFTs, and blockchain.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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