Dogecoin record: it increases by 7000% in 2021 and is already worth 40 times more than the Argentine peso

2021 is a year of euphoria for cryptocurrencies. With prices soaring, they have established themselves as the best investment to date this year, with a large advantage over equity positions.

Of all, with Bitcoin as an emblem, highlights the Dogecoin. The friendliest puppy’s “crypto” It traded at 40 cents on Monday, which implies a A 6.918% jump in just over four months of the current year.

So far in 2021, Dogecoin holds almost 7000% gain

Dogecoin, a virtual currency born almost like a game eight years ago. Like Doge, the shiba inu dog known on the internet as one of the most famous memes, it is an invention of Billy Markus, a software engineer who created the cryptocurrency in 2013.

Markus’ idea, with Australian Jackson Palmer, had started as a joke. They released a parody coin called Dogecoin for make fun of the cryptocurrency rush. But the “magic of the Internet” did its job and some time later this currency began to make a name for itself in the forums. In December 2017, its market value reached $ 1,928.

Now that figure seems laughable compared to the current valuation of around USD 51,700 million, or 15% of Argentina’s GDP, estimated at around 350 billion dollars.

In the same vein, a Price comparison between Dogecoin and Argentine peso shows that today the Doge is worth 40 times more. With a large dollar – official exchange rate – close to 94 pesos, and a “blue” dollar at 150 pesos, the currency domestic is now barely a penny for a dollar, compared to the 40 cents that the virtual currency of the most famous “meme” of social networks is cited.

Extraordinary profit in 2021

Is Dogecoin a joke? Yes, is it the best investment in the world? No, but “it is at least better than a lottery ticket “, in the opinion of the billionaire Cuban Mark, owner of the NBA’s Dallas Mavericks, who last week gave the cryptocurrency further bullish momentum with public statements.

When it appeared in The Ellen DeGeneres Show, one of the most popular Cuban television programs in the United States said that the emergence of digital currency, which was born as a “meme”, is the “The craziest story of all time” and tried to answer questions about the token represented by a smiling Shiba Inu.

Dogecoin has skyrocketed over the past year, fueled by internet memes and even encouragement from big names like Elon Musk.

“Usually when someone mentions Dogecoin and asks me if it’s a good investment, I say it’s not the best in the world, but it’s much better than a lottery ticket, it’s also a great way to learn and start understanding the world of cryptocurrencies“Cuban said. And you know what? It could increase. Besides, the second best thing is if you don’t go up and want to spend it, you can buy official goods at the Mavericks store,” he said. he adds.

With its exponential escalation, today the Dogecoin is the sixth largest cryptocurrency in terms of market value, very close to the $ 52,000 Theter is worth. This rank is led by Bitcoin ($ 1.083 trillion), followed by Ethereum ($ 364 billion)), BinanceCoin ($ 102 billion) and XRP ($ 71 billion).

With its exponential price escalation, Dogecoin is the sixth most important cryptocurrency in terms of market value

Cuban has long praised the educational and entertainment value of Dogecoin. In March, he announced that Mavericks fans could purchase tickets and merchandise using it. The team also accepts Bitcoin, Ethereum, and other cryptocurrencies.

“Bitcoin is like a digital version of gold, Ethereum is a digital version of a currency and you have Dogecoin, which is just fun ”Cuban said when DeGeneres asked him about his opinion on investing in cryptocurrencies.

For his critics, the Dogecoin trivializes investing and creates risks it could hurt investors blown away by the hype.

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