DOGE Coin, considered as the fun and friendly internet currency recently surprised everyone by grossing $1 billion in market cap. The global price average of the coin is currently at $0.014545 having gained over 22,000% since it’s creation.
Initially created as a “joke coin” in 2013 by its founder Jackson Palmer, surprisingly has been loved by many cryptocurrency enthusiasts for its mere simplicity. Until now, not many people have heard about the low key digital currency, but with the sudden endorsement from John McAfee, the cybersecurity expert and cryptocurrency investor, it gets the much-needed visibility.
The cybersecurity visionary who initially created the infamous McAfee Anti Virus and later was sold to Intel has initiated a campaign to give the new and upcoming digital currencies more visibility. As part of this program, he started initially “Coin of the Day” where he posts a new digital currency to his 650K Twitter users. The bots which trade cryptocurrencies have started using this information for a quick pump and dump scheme.
Coin of the week: DOGE
— John McAfee (@officialmcafee) January 8, 2018
This program has been later changed to Coin of the Week and to avoid the bots, McAfee has started posting this information in the form of images. This week, he posted DOGE Coin as the “Coin of the Week” to his large and active Twitter Audience.
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Though this gives the much-required visibility, the DOGE Coin is not actively available to buy/sell in the vast majority of the exchanges. Off the most popular ones, only Bittrex and Poloniex have active DOGE trading available. When the trading perhaps gets enabled in Binance, the new hot favourite for the cryptocurrency enthusiasts to find new and upcoming digital currencies, the price will certainly explode and is expected to reach around 5 cents which would increase the market cap considerably.
We will post an update on the end of this week, to compare the performance of the DOGE and how Mr.McAfee’s tweet affected the DOGE price change.