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Elon Twitter Buy Sends Dogecoin up 30% - Where to buy DOGE

Elon Twitter Buy Sends Dogecoin up 30% - Where to buy DOGE

Last updated 29th Jun 2022
Disclosure
  • Dogecoin is based on the popular "doge" Internet meme
  • Crowd Wisdom predicts a price increase of up to $0.21 this year

After Elon Musk’s offer for Twitter was accepted, the potential of Dogecoin as a form of payment increased, sending the price of the original meme coin through the roof. It was up 30% at the time of writing.

If you are attracted to unique features and want to learn how and where to buy DOGE, this guide is for you.

Top places to buy Dogecoin now

1
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What is Dogecoin?

Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was forked from Litecoin in December 2013.

Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. It is expected to become more popular now that Musk owns Twitter.

You can get tipped Dogecoin by participating in a community that uses the digital currency, or you can get your Dogecoin from a Dogecoin faucet.

Dogecoin differs from Bitcoin in that it uses Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined.

Should I buy Dogecoin today?

Pros

Dogecoin is widely available for purchase across many brokers
Potential interest in Dogecoin could increase if Twitter start to accept it
Plenty of payment methods now support Dogecoin purchases

Cons

Meme coins (and all cryptocurrencies) can be unstable
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.

Dogecoin price prediction

Crowd Wisdom predicts a price increase of up to $0.21 this year. At the moment, Dogecoin is trading for $0.16. The momentum of the coin will be bullish in the next 24 hours, supported by high trade volume.

The analyst reports that the technical parameters are highly favorable for the cryptocurrency.

Expectation on Dogecoin price increases started to gather pace before the announcement was made and have continued to grow since.

Key questions answered about Elon Musk and Dogecoin

What is Dogecoin?
How much did Elon Musk pay for Twitter?
Does Elon Musk buying Twitter impact Dogecoin?

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.