The "emotions and sorrows" behind the skyrocketing Dogecoin overnight

If one pull is not enough, then do it again, and the "Joking Dog" will become a "Screaming Dog" in seconds.

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What is Dogecoin?

Dogecoin was born on December 12, 2013. It belongs to the old Token. Dogecoin, like Bitcoin and Litecoin, uses the PoW consensus mechanism, but it is different from the upper limit of 21 million for Bitcoin and 84 million for Litecoin. Compared with the upper limit, the issuance of Dogecoin has no upper limit. On average, Dogecoin produces blocks once every minute. The earliest block reward is 1 million per block, and every 100,000 block rewards are halved. From the 600,000th block, the block reward is constant at 10,000. Change, there are currently about 129.196 billion Dogecoins on the market.

In December 2013, American IBM software engineer Billy Markus and Australian Adobe engineer Jackson Palmer jointly created Dogecoin based on the Bitcoin code. When they were interviewed by the media, they also admitted that Dogecoin was just a joke. However, it is this joke that has surpassed many real project parties. Its vitality is extremely tenacious, and it has survived four rounds of bulls and bears. It has survived to this day, and its value has appreciated a hundred times in the past year.

Many times in the past, many people ignored Dogecoin. I remembered that at the beginning of 2020, the author joked with others in the community, "Others have tens of thousands of Bitcoins as a "giant whale", but I have tens of thousands of Dogecoins as "giant whales." Doesn’t it count?” A crowd of people teased: Dogecoin hasn’t returned to zero yet?

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With twists and turns, Dogecoin in this bull market has convinced people

At the beginning of 2021, Bitcoin broke through $30,000. When everyone gradually believed that this is a wave of bull market that is coming, Dogecoin seems to just follow up. In the following month, due to the enthusiasm of the WSB stock market The spread and the crazy "milk dog" of Musk, the world's richest man, made Dogecoin soar to an all-time high of $0.087 on Binance Exchange in one day, an increase of 1100%. At that time, there was a saying that "bit ether is not as good as a dog", and as the market calmed down, Dogecoin gradually returned to $0.05 and remained stable. Another community voice said that this is just the richest man cutting leeks.

Unexpectedly, in less than three months, Dogecoin used another more violent "to da moon" to tell people "don't draw conclusions on anything easily", for three consecutive days, it has been pulling all the way without looking back, and it has tripled . "Dogecoin is the real Bitcoin", the community said again.

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All kinds of living beings under the skyrocketing Dogecoin

But who are you, you have to become the "atmosphere group" of Dogecoin today, either marveling at the skyrocketing price of Dogecoin, or Versailles himself ambushed Dogecoin early and was forced to get rich, or lamented that he bought less and sold too early , and the money-losing group lamented that they knew nothing about the bull market.

1) Fortune Group

Big V on Weibo, the famous contract player Fei Zhai Bitcoin posted on Weibo saying, "I didn't expect Dogecoin to make me rich."

2) Regret prodigal group

Xiong Yue, the dean of Bixin Research Institute and a well-known KOL in the currency circle, shared several Dogecoin red envelopes he had sent in Moments, and there were even unclaimed Dogecoins in it

Also regretting are the friends who bought less and sold earlier, and even the "Show Operation Group" who thought it would fall back like last time after Dogecoin broke through 0.1 dollars yesterday. No matter which group you are in, today's eyeballs are occupied by Dogecoin. At present, Dogecoin has suspended its chug-jumping pace, and it has returned to stability for the time being. As for whether it will take a short break before moving forward or plummeting, it is still unknown. In the currency circle, you never know what will happen in the next second.

Is Bitcoin really valuable? Who assigns its value?

Even though Dogecoin is now equivalent to nearly two yuan per RMB, the rapid rise has caught many people off guard and made people suspicious. No matter which big V is at this time, they dare not call people to get on Dogecoin. . The well-known blockchain KOL ran amok Beiwei said on Weibo, "Dogecoin can only be regarded as a survivor's deviation. Only it breaks the long-term law of falling against Bitcoin. There is no one in the coin development team. Who would have thought How can there be such a gorgeous spring?"

Is Dogecoin Really Valuable? Who gives it value? Maybe many outsiders have never heard of DEFI and don’t know about Ethereum, but they may know Dogecoin, because Dogecoin is so easy to gain popularity. Today, through some social media, we can also find that many outsiders are talking about Dogecoin , and even earned his "first pot of gold" in the currency circle through Dogecoin. Maybe they can't afford Bitcoin or are afraid to buy Bitcoin, so they choose Dogecoin.

With the increase in popularity, Dogecoin's consensus disk is destined to become bigger and bigger. There is no institutional management, and the founder has left, but the degree of decentralization of Dogecoin is not lower than that of Bitcoin. Perhaps the greatest value of Bitcoin is that it will become the first stop for many people to recognize digital currency.

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