If in 2017 the crypto-currency market was crazy with Bitcoin's exaggerated inflation, things are even more insane earlier this year. Last Friday (5), the market capitalization of Dogecoin reached the incredible value of $ 1 billion for the first time.
For those who do not know, Dogecoin is a virtual currency created in 2013 as a kind of joke, so it is based on the old meme called Doge, about a Shiba Inu puppy.
According to the official website, it was made thinking of a specific and friendly community. This along with the fact that the currency has not had a software update in two years only makes this sudden increase even stranger.
Dogecoin's own founder, Jackson Palmer, was concerned about the company's increased market value.
It tells a lot about the current state of crypto-coins in general that a coin with a dog in it, which has not had a software update in more than two years, has reached a market value of $ 1 billion.
Already one of the developers of the coin, Patrick Lodder, was a little more optimistic about the novelty in an interview for Coindesk:
To me, this proves that we do not need brilliant features and lots of innovation, and that even a conservative development team - and in my case completely distracted - can grow.
Despite this large (and mysterious) market value of the company, the currency itself still has a considerably low value, with each Dogecoin costing just over $ 0.01. Something quite different from Bitcoin, for example, which cost $ 20,000 in 2017.
i suspect this coin will see an increase in value this year.
I think it will be worth more.