What is Dogecoin and Dogecoin and Elon Musk Connection

What is Dogecoin? What is Dogecoin and Elon Musk Connection that resulted in 50% hike in Dogecoin value overnight? Know every detail on Dogecoins in this blog.

What is Dogecoin?
Dogecoin is a cryptocurrency which has recently gained popularity due to famous people mentioning it over social media platforms. But, what is Dogecoin? Who invented Dogecoin? Keep reading the best Dogecoin blog on internet to know:
Dogecoin is a cryptocurrency that falls in lines with other popular cryptocurrencies such as Bitcoin, Ethereum, or Litecoin. Dogecoin was invented by Billy Markus an IBM software engineer and Jackson Palmer an Adobe engineer as a new cryptocurrency for peer-to-peer transactions. It was developed back in December 2013 and was developed for fun with a Japanese dog breed Shiba Inu as the branding for it. This move gave them a unique identity over other cryptocurrencies though. Dogecoin is a password-based scrypt technology unlike Bitcoin which uses SHA-256 encryption

What is Dogecoin and Elon Musk connection?
The reason why Dogecoin is in the news is Elon Musk. Can you imagine Dogecoin prices surged over 50% as per reports from Coindesk, a blockchain and cryptocurrency website. Few days back Elon Musk had tweeted "Dogecoin is the people's crypto". This resulted in massive rise in the value of this underdog cryptocurrency to an extent that it brought Dogecoin's market value to $10 billion (approximately Rs. 72,901 crores) earlier on Monday, according to CoinMarketCap data.

What is the rate of Dogecoin?
1 Dogecoin is selling for Rs. 5.21 in India and approx $0.071 in the US (Actual rates could differ as it is a financial product)
But don't expect it to be as grand as other cryptocurrencies such as Bitcoin & Ethereum. Remember Musk said "Dogecoin is the people's crypto", he said it for a reason!

How can I buy Dogecoin?
Dogecoin can be purchased through any cryptocurrency wallet or online platform, just like any other cryptocurrencies.
Users also get a dedicated Dogecoin wallet facility that can be accessed through a smartphone or a desktop. In India there are various options from where you can purchase Dogecoin such as BuyUcoin, Bitbns, or Zebpay. All you need to do is follow KYC process by providing your details, such as your full name and phone number.