Dogecoin Price

Dogecoin has enjoyed being one of the most trending coins of 2021 through the bull run of the year. The Dogecoin price rally helped it shoot into the top league of cryptocurrencies based on market cap, powered by support from social media influencers such as Elon Musk. It has also given rise to a whole new category of meme tokens, starting with Shiba Inu (SHIB).

However, besides its meme coin status, Dogecoin offers an attractive way to power cryptocurrency adoption with a shallow barrier to entry, unlike Bitcoin. Although it originated as a joke, DOGE crypto offers a legitimate use case for empowering the mass adoption of cryptocurrencies as a payment method.

The low DOGE price and the high total supply also make it easy and relatively low risk to invest in, especially among new crypto users and traders. Bullish sentiment in the crypto market can encourage more new retail investors to start investing, which could power the DOGE price and market cap. Dogecoin crypto could be one of the most popular digital assets to buy during an upbeat mood in the crypto market.

The Dogecoin price and market cap could also see an uptrend as more businesses start accepting DOGE for payments. With its team of developers focusing on driving its adoption for online payments, this could be one of the most significant factors sending the Dogecoin price higher and making it worth buying DOGE and holding it.

The meme-based cryptocurrency Dogecoin evolved out of a viral internet joke featuring the Shiba Inu breed of dog, which is used as the crypto’s mascot. The Dogecoin blockchain grew from a fork of a now-defunct cryptocurrency known as Luckycoin, which was initially forked from Litecoin and returned to Bitcoin.

Jackson Palmer, a co-founder of the meme coin DOGE, had tweeted that he would be willing to create a new cryptocurrency if anyone was interested. Billy Markus reached out to Palmer, and the two created Dogecoin together, launching it on 6 December 2013.

Over the years, the highly engaged online Dogecoin community has rallied support and donated to several global charitable causes in DOGE. The Dogecoin price enjoyed a steep rally through the crypto market bull run in 2017, but it gave back its gains when the market crashed the following year.

Interest in the meme coin soared through the bull run in 2020 and 2021, with several celebrities praising the DOGE crypto for its low fees, driving up its trading volume worldwide, and supporting the uptick in DOGE price. Since then, it has become one of the most widely accepted cryptocurrencies as a payment method by businesses, along with Bitcoin, Ethereum, and Litecoin.

Here are the steps to follow if you wish to mine Dogecoin:

1. Invest in Dogecoin mining equipment, such as CPUs, GPUs, or ASIC miners. Fortunately, mining DOGE does not require as much computing power as mining BTC, so you can also use your existing computer to mine the cryptocurrency.

2. Download Dogecoin mining software into your mining equipment. An online search will reveal the top mining software solutions that can help. We recommend you conduct additional research and read reviews to find the most convenient software that works with your mining equipment.

3. While the above-listed steps work for solo mining, letting you work as an individual miner, there are other ways to mine DOGE. You can sign up to be a part of Dogecoin mining pools or cloud mining services where you can contribute your computing resources and be a part of a larger group of miners.

4. These two options may reduce the rewards you can earn from mining DOGE but could increase the frequency of being selected and utilized, thus raising your odds of earning rewards.

5. Create an account with a digital wallet that supports Dogecoin. You can use this wallet to store your mining rewards securely. In addition to the official Dogecoin wallet, several other leading players support secure DOGE storage.

6. Connect your wallet address to the mining software or mining pool you select. Once you get started, you can receive your mining rewards in this wallet.

You can sell DOGE from your Dogecoin wallet using the KuCoin Exchange. Here’s how to do this:

1. Create a KuCoin account if you’re a new user.

2. Transfer your DOGE holdings from your Dogecoin wallet by entering your KuCoin trading account wallet address.

3. Receive the DOGE funds into your KuCoin account.

4. Trade the DOGE coins on the KuCoin Spot Trading section by selling the DOGE/USDT crypto pair.

5. Use the KuCoin P2P service to sell your USDT and exchange it for fiat currency.