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Dogecoin By Renuka Chintalapati (Infozion Technologies) Cryptocurrency is a type of electronic money that is produced and stored in the blockchain, with encryption techniques used to monitor the production of monetary units and verify the transfer of funds. It doesn't have a physical form or intrinsic value. Cryptocurrency has developed to become a multibillion-dollar industry. Now it's up to banks and other financial companies to figure out how they'll deal with consumers, investors, and internal voices calling for more institutional investment in blockchain assets. One of the most trending topics in 2021 is Dogecoin. Dogecoin, the Shiba Inu dog-themed cryptocurrency that began as a joke in 2013, has developed into a serious competitor to the cryptocurrency giant Bitcoin.
What exactly is a Dogecoin? Dogecoin is a digital coin used for e-transactions that is similar to Bitcoin. The picture of Shiba Inu is depicted on Doge, which is a reference to the ‘doge' meme. It's a cryptocurrency, or digital currency, that, similar to the famous bitcoin, that allows for peer-to-peer transactions over a decentralized network. Dogecoin's recent rise has been boosted by a social media mania on Reddit involving GameStop, as well as a series of tweets from Tesla CEO Elon Musk and other celebrities. Since its inception, Doge has been used to donate money to charities. The 2014 Jamaican Bobsled team, which couldn't afford to attend the Sochi Winter Olympics, a Nascar driver named Josh Wise, and a Kenyan clean water initiative called Doge4Water are just a few examples.
