Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect.
Fueled by Elon Musk's continuous support for it over Twitter, Dogecoin has risen over 22,000% over the trailing 12 months and has been arguably the best-performing asset on the planet. The self-proclaimed "Dogefather" also recently announced that he would work with Dogecoin's developers to improve transaction efficiency.
But only 1300 business worldwide accept Dogecoin as method of payment and Dogecoin has averaged 50,000 transactions daily over the past 12 months which equates to a microscopic 0.004947% of all global daily transactions.
Still at close to $0.56 per coin, Dogecoin has a market value of a little over $72 billion. So is the hype real? and really worth it?
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