Convert DOGE to USD

Like all memes, the idea was instantly picked up by friends and other Twitter users, and the tweet began mass discussions on Reddit, so it went viral. To continue developing the joke, Palmer bought the domain dogecoin.com, photoshopped an image of a dog placed on a coin, and posted it on the site. However, he did not have any software solutions or tools to create the currency. 

Not long after, an American programmer, Billy Marcus, spotted the site and suggested Jackson Palmer create a cryptocurrency based on an open-source code.

The project launch took place in December 2013. The coin was written with the Litecoin script, which, in turn, is a Bitcoin hard fork. Marcus found it in the public domain and copied it for his project.
 

Elon Musk is not directly involved in the DOGE creation, but he made a tremendous contribution to the coin development and popularization with his tweets. The first time Elon posted about Dogecoin was on February 6, 2021. It was a poll called "The future cryptocurrency of Earth." There were two choices to answer:

• "Dogecoin to the Moooonn"
• "All other crypto combined"

As a result, the coin value has more than doubled. 

 

That was not Elon's single post about Dogecoin. Every time it causes a boom on the Internet, the currency rate rises sharply. 

Musk also asked users on his account if Tesla should accept DOGE as payment. The vast majority voted yes, and a month later, Tesla began receiving payment for its products in the meme coin. 

The Dogecoin community has decided to use its popularity to good use. Dogecoin's good deeds include:

• fundraisers to help animals;
• supporting the Jamaican bobsleigh team to compete in the Sochi 2014 Winter Olympics;
• aid to deal with the water crisis in Kenya;
• help in the promotion of NASCAR racers. 

 

The coin, created in the wake of a very successful joke, turned into a serious project without losing the image of a carefree cryptocurrency with a fun approach. 

Moreover, Dogecoin is one of the most eco-friendly currencies. The electricity required to process a single transaction in the DOGE network is approximately 600 kWh. Comparatively, it takes almost 2,188.59 kWh to process one transaction in the Bitcoin network. 

 

Crypto experts and analysts forecast different scenarios for Dogicoin's price movement. Despite, for the most part, optimistic forecasts, it is complicated to say exactly in which direction the exchange rate will change due to significant factors: 

 

• Popularity and trust 

The meme currency does not cease to be popular, but the status of a serious project and charity events inspire confidence and attract new users. 

 

• Elon Musk

Dogecoin's main fan has made a historical impact on the coin more than once simply by mentioning it. 

 

• Unlimited supply 

Unlike cryptocurrencies with a finite supply, there can be as many Dogecoins in the network as you want. That influences price changes. Due to the lack of a limit, mass purchases/sales of DOGE do not affect the rate, as in the case of other currencies. 

 

• Usefulness

With minimal fees and fast transactions, Dogecoin is an excellent choice as a means of payment. Successful experience with Tesla and other companies that have integrated DOGE as a payment method shows that the level of trust in the coin is growing. 

Reddit and Twitter use Dogecoin as a tip. In other communities, you can earn rewards in DOGE, actively participating in events and contributing to them.

The coin's low cost and all of the above make it attractive to investors. However, the main DOGE disadvantage is that for most users, it is still a meme project that does not arouse seriousness and trust. 

It is worth noting that more and more people today are not only using cryptocurrencies as a way to store assets but in everyday life to pay for purchases. The general attitude to the crypto industry again affects DOGE's image.

If you want to convert DOGE into other cryptos or vice versa, you can use PassimPay.The service offers favorable conditions for exchanging coins and storing any amount of cryptocurrency for any period.