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Dogecoin Continues to Progress

By Sharon Rowe
In Dogecoin
Feb 15th, 2014

This relatively new coin is surpassing all expectations of a new cryptocurrency. It is aggressively pushing older, more established currencies aside. With the value of the currency biting at the heels of some of the great, better known cryptocurrencies. It is pushing for third place in the leader boards, it is currently residing at fourth place, but it won’t be long at this rate before it pushes Peercoin out of the third position.

dogecoins continue to progress

China accepts Dogecoin

A shock announcement on the start of the Chinese New Year that banned the use of cryptocurrencies, is being replaced by a list of all the cryptocurrencies that China will allow businesses in China to trade with.

The great news is, China has made the announcement that is has allowed Dogecoin entry. This is positive news, and a great backing from a country who is reluctant to allow all cryptocurrencies to be traded in China.

This means that the market for the Dogecoin has increased, allowing a thriving cryptocurrency the chance to make its mark on the Chinese trading markets. This is a positive boost for the company.

Canadian boost for Dogecoin

This news boosts the prospect of the currency and on top of the great news from the Satoshi, the Canadian exchange will allow the Dogecoin to be used and purchased, using US or Canadian dollars. Yet another boost to the growing Dogecoin markets.

The past of this Doge cryptocoins

What is surprising is the age of this currency. At just over 2 months of age, it is taking the cryptocurrency markets by storm. The community that has promoted this currency has been astounding. They have helped this currency raise enough money to allow the Jamaican Bob-sleigh team to travel to the Russian Olympics, as well as helping an Indian team raise funds too.

This shows the support which this currency is having on the community as a whole, it is being seen as a currency for the people. By using the community on the cryptocurrency markets to raise vast sums of money, has been a positive move by this currency. Not only has it has been embraced by the currency markets, but also by the public. They have been made aware of the caring nature and this has helped to boost the public image. It is impossible to judge if this has helped to develop the currency, but it is very unlikely to have had a negative impact. It could have helped to have increased the market popularity of this coin and created the interest, which sparked the prosperity that the coin is now receiving.

The amount of outlets that are using this form of currency is increasing, there are fewer fees associated with each of the transactions, and this can save businesses thousands of dollars per year. It is one of the many reasons that businesses are turning their attention to the cryptocurrency markets.

Doge Coin value

The value of each coin is not as high as the value of the top contending coin, the Bitcoin. It is worth just a fraction of this amount standing at a very low price of $0.0019. If you compare this to the vast sums that each Bitcoin is worth $650, then there is a stark difference in the coins actual value.

This hasn’t halted the amount of interest in this currency; it has managed to create the interest that has sparked this currency into life.

It has created the right attention; the publicity that the currency got from helping the different Olympic teams has been well received. It has meant that those people that are new to the cryptocurrency markets have seen this currency help and support those less fortunate. Therefore, this has enabled the currency to grow and develop in the positive light that it has warranted.

What you will see is this currency developing even more over the next year. It is estimated that there is going to be approximately 100 billion Dogecoin’s in existence by the end of this year, and that will increase by 5 billion the following year. It is a great to see this currency developing and growing, it is more in the public view, whereas the Bitcoin developed over the past four years, but it was a relatively new currency and this didn’t attract the attention that has been visible over the newer currencies that are coming onto the markets.

There are going to be winners in the cryptocurrency markets and the Dogecoin seems to have managed to corner these markets. This has taken the currency to new heights quicker than anyone could image.

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