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About
History
Differences between Investing vs Trading
About
History
Differences between Investing vs Trading
The Dogecoin network was created in 2013 by software engineers Billy Markus and Jackson Palmer, who are reported to have initially devised it as a satire of the cryptocurrency world’s claims at the time to be taking over the world. Despite its roots as a meme coin and its ongoing claims to be a fun currency, it soon became regarded as a serious token and potential investment.
The Dogecoin price is shown with the DOGE code to represent this currency and the DOGEUSD acronym refers to its price in US dollars.
At the launch date, the Dogecoin price was just a fraction of a cent for each token, but it soon gained popularity and rose in value thanks to a Reddit community and many other online supporters. Elon Musk is another high-profile champion of the coin who has spoken out about it. In 2021, SpaceX agreed to launch DOGE-1, a small lunar satellite paid for entirely in Dogecoin.
The market value of DOGEUSD rose to $2 billion in early 2018. In May 2021, Dogecoin reached a peak of about $0.73, with a market value of close to $89 billion, before falling back. It was among the five biggest cryptos at one point and has also been the most-traded crypto for a brief period.
The initial supply of DOGE was limited to 100 billion coins, which were all mined in the first couple of years. After this, an extra five billion coins have been added each year, although unlike BTC and most other cryptocurrencies, there is no fixed upper limit in place.
One way to gain exposure to Dogecoin price movements is through CFD trading, which allows you to trade price fluctuations without buying or owning the underlying tokens. This approach gives the possibility of using leverage to attempt to gain bigger profits than would otherwise be possible.
Like most cryptocurrencies, the Dogecoin price can vary widely even in the space of a single day. This high level of volatility has made it appealing to traders carrying out short-term strategies such as day trading and scalping. Tokens can also be bought directly on a crypto exchange if you want a direct purchase based on the current DOGEUSD rate.
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| Swap short | [[ data.swapShort ]] points |
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| Commission and Swap | Commission and Swap |
| Leverage | Leverage |
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Trade [[data.name]] CFD with Skilling
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Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.
Crypto CFD
Physical Crypto
Capitalise on rising crypto prices (go long)
Capitalise on falling crypto prices (go short)
Trade with leverage
Hold larger positions than the cash you have at your disposal
Trade on volatility
No need to own the asset or have an exchange account
No exchange fees or storage costs
You pay the spread and a taker fee per side. Swaps apply on Standard and Premium accounts. Other fees may apply.
Manage risk with in-platform tools
Ability to set take profit and stop loss levels