According to Bloomberg, tech entrepreneur Elon Musk will host “Saturday Night Live” on Saturday, May 8, and Dogecoin cryptocurrency traders will arrange watch parties for what may be a “market-moving event.” So why buy dogecoin?
Musk, dubbed “The Dogefather” on Twitter, is a major supporter of Dogecoin and constantly tweets about it, causing the price to skyrocket. According to Bloomberg, New Jersey-based trader Ramy Bekhiet, it would not be surprising if Dogecoin’s price rose to 90 cents as a result of Musk’s participation on “SNL.”
According to real-time statistics recorded by CoinMarketCap, the coin was initially launched as a parody, and its most recent surge within the last week was 95.76 percent (Market capitalization is constantly changing). One Dogecoin is now worth $0.63, up from $0.50 just a month ago.
Where can you buy Dogecoin?
Dogecoin may be purchased on exchanges like as Binance and Kraken.
Dogecoin is not supported by Coinbase, one of the most prominent cryptocurrency exchanges, but you may add it to your cryptocurrency wishlist. When you sign up with Coinbase, you will receive $5 in Bitcoin for free upon verification of your ID.
According to CoinDesk, Dogecoin was founded in 2013 by Adobe employee Jackson Palmer and software engineer Billy Markus. It’s a play on the internet meme of a Japanese Shiba Inu dubbed “doge.” Its lighthearted tone helped it become a hit and garner a large following.
What is cryptocurrency to start with?
According to Coinbase, cryptocurrency is a digital asset meant to be used via the internet. It is decentralized, which means it is not under the jurisdiction of the government or any other central authority, such as a bank. If you want to learn more about cryptocurrencies and how it works, you may always take an online course. Courses are available on the online learning sites Coursera, LinkedIn Learning, and Udemy.
If you want to invest in other cryptocurrencies like Bitcoin, Ethereum, Tether, and Litecoin, here are some places to start: