As of January 2021, there are more than 4,000 cryptocurrencies available in the world. There is no dispute that Bitcoin and Ethereum are both leading the way with the former being the market leader. These cryptos have been around for the longest time and that puts them in the most potential and also volatile at times.
More and new options
The rising price of BTC and ETH has made it almost impossible for smaller traders to buy which means they are mostly now down to the fund managers and institutions. So, what are the options available for smaller traders? How about anyone who wants to invest in cryptos but does not have the financial means to buy even 1 BTC? They start turning to the others but then, which of the 4,000 out there makes sense?
Enter new potential cryptos
One of the names that have been making its round recently is Dogecoin. To date, it has a community of more than 300,000 members since it was created in 2013. Billy Markus and Jackson Palmer were the people behind this crypto which got its name from the Doge meme. What started out as something to patronize the other cryptos has grown to be a major force.
Markus wanted to create a crypto-meme mashup that could reach the number of people that Bitcoin could and it was designed for a laugh. He even used the Shiba Inu dog as the logo. In late January 2021, the value appreciated more than 250% and by early February increased further. Then, it was 15th in the cryptocurrency ranking.