What are the most important things for any cryptocurrency asset? Adoption is definitely one of them.
The CoinRabbit team works to provide our clients with advanced tools and ways of using their holdings, to implement additional solutions no matter what market conditions are.
In this article we would like to share more insights about Dogecoin: Why is it so popular nowadays, its recent technical updates, the hype around it and how you can use this asset to additionally increase your income flows.
One of The Most Insane and Recognizable Assets Nowadays
It’s a widely known fact that DOGE has its own celebrities among its believers such as Elon Musk, Mark Cuban, Snoop Dogg, and more. It started as a joke and a meme less than a decade ago but has been on an insane ride this year as many new individual investors recognized it as a strong investment asset. DOGE was traded at less than 1 cent in the beginning of this year and hit its All-Time High around $0.74 this May.
Should we mention that 15,000% gains for such a short period of time at that peak moment is something you don’t usually get from any kind of investment, let it be gold, shares or even cryptocurrencies? More than quadruple the gains on the S&P 500, including dividends, since 1988. However, later Dogecoin price has fallen, recently trading on June 11 at about 32 cents.
First things first: What is Dogecoin?
It is nearly impossible for a regular cryptocurrency user to not know about Dogecoin nowadays. Still, we covered those who don’t know how it all started with a brief DOGE introduction.
Dogecoin is a cryptocurrency that started as a joke in 2013 in a form of meme homage to bitcoin, designed to serve no real purpose other than generating a few laughs.
It was named after an internet meme centered around the image of a Shiba Inu dog with bad spelling habits — thus “doge” instead of “dog.”
Developers Mr. Markus and Jackson Palmer co-created dogecoin 2013. Even the way people originally obtained the coin was meant to be ridiculous: In return for solving mathematical puzzles, dogecoin miners operating fast-running computers received anywhere from one dogecoin to hundreds of thousands of dogecoins.
Being a meme homage at the beginning hasn’t stopped DOGE from becoming one of the most popular assets across the sphere.
Why has Dogecoin hype and popularity soared?
There are several reasons for DOGE being so popular nowadays:
- First of all, from the rate perspective, it has quite a solid price. Also, it doesn’t draw down or pump several times a day and is more or less stable or just follows the main cryptocurrency market trend. In other words, Dogecoin behaves as a regular crypto asset
- The Dogecoin community is one of the most supportive and passionate communities across the sphere. With all their beliefs and organic hype around the asset DOGE price literally can’t just dump in a second with thousands of thousands of people at its back
- DOGE has been listed at several exchanges this year: CoinBene, KuCoin, Crypto.com, Coinsuper, LCX and Coinbase Pro
- AMA session on WhiteBIT Telegram
- Crypto.com liquidity mining rewards
- Increasing number of reputable celebrities supporting and reacting about Dogecoin
Much WOW. Such crypto.
Extend your DOGE potential with CoinRabbit
There are several ways you can potentially increase your Dogecoin wealth such as day trading or HODL. On top of it, there are additional ways of making your DOGE work for you instead of gathering dust in a wallet. Here are some insights on when, why and how you can use Dogecoin at CoinRabbit to receive crypto loans.
When to borrow your Dogecoin?
The best time to borrow your assets is when you believe that it’s already dip. It gives your assets more chances to grow in price while talking a loan and to earn more funds. Received funds would be “a premium” for that case
Lack of spare cash? We got you covered! Spend your loan whatever you want even for daily purchases
Wish to accumulate more DOGE but got no funds to do it? Feel free to reinvest the received loan and get as much DOGE as you wish. In a meanwhile both your collateral and freshly bought DOGE might grow simultaneously which unlocks HODL 2.0 feature for you
If the market dumps and you wish to minimise the risks you can use our services and received funds to buy your beloved currency once it dips and potentially earn more when the market reverse and soars back plus get your collateral back
We provide the most convenient, fast and secure way to borrow your DOGE against USDT/USDC. Here is a short list of our features:
- Instant crypto loans
- All you have to do is to have a phone number. No KYC, financial history or any useless paperwork required
- Unlimited time frames for any loans
- You are able to have as many different active loans as you wish
- Fees are only paid once you transfer your collateral to our unique receive address
- 24/7 customer support service is always at your back
- 50% LTV which is the most convenient decision from our perspective. You always will have enough time to buy your collaterals back
How to borrow your Dogecoin at CoinRabbit
- First of all, follow our Doge lending link
- Set up your loan using DOGE as a collateral option, then confirm it with your phone number as the main contact channel and your payout stablecoin address where you’d like to receive your funds
- Send us the collateral and we will send you the loan amount on your payout address without any delays and additional checks
- Exchanges are not needed
- Withdrawal is open 24/7 no matter current market conditions let it be soaring or dumping
- Use your loan as long as you want. We will just draw your attention on the rate of your collateral currency in time
- At any moment you can pay your collateral back. To do this, you need to pay the full price of Repayment, and when we get it, we return your collateral
Not financial advice. Do your own research and take everything moderate.
Crypto backed loans have their own risks that should be taken respectively.