Dogecoin was one of the first cryptocurrencies to make it into the crypto market. It also happened to be the first meme cryptocurrencies, which soon spawned an entire sub-category of cryptocurrencies dedicated to using memes as its unique selling point. And despite being in the market for so long, Dogecoin still manages to maintain its dominance throughout. And when considering the impact that it has left over the entire market, it is obvious that it has left an impact as big as any other major cryptocurrency.
And in recent years, it has also managed to gain the appreciation of the mega-billionaire Elon Musk. Throughout his series of tweets, he has shown incredible support for the entire crypto market and Dogecoin in particular. And just a mere mention of any type of cryptocurrency would send the market into a frenzy, as new investors start investing in the cryptocurrency that he just mentioned. In fact, his support for the meme currency has awarded him the name of Dogefather.
The dogefather’s influence also worked against him once, when he accidentally made Shiba Inu one of the most popular cryptocurrencies in the market. After just posting an image of his Shiba In, thousands of investors rushed their way to the cryptocurrency called Shiba Inu. This was possibly the most important thing to understand about the market, as many of these investors thought that the picture of a dog was a cryptic message.
This soon spawned a major rivalry between the newest and most popular meme coin against the oldest. And to the surprise of many people, it has also become one of the biggest rivalries to spawn in the entire crypto market.
The co-founder of Dogecoin took to Twitter to discuss the benefits that come with using his token. He mentioned that Dogecoin has very low transaction fees, mainly thanks to its lower prices. Therefore, when sending money through Dogecoin, people will have to pay fractions on a penny. The co-founder also mentioned that his cryptocurrency is also better than Bitcoin in this regard. Seeing how the poster child of the entire market can charge up to $4 for a transaction, people will be saving much more when making use of Dogecoin.
Furthermore, it seems that the tweet managed to get the attention of the Dogefather himself, who agreed. And despite his support for the meme coin, it is obvious that he was not talking out of bias. The details are in the numbers, as it is quite obvious that Dogecoin can offer much cheaper transactions than almost every other cryptocurrency in the market right now.