Let’s talk some truth about DogeCoin and the DogeCoin price!
– Many of you have heard about dogecoin, way before you have heard about other altcoins.
– Released back in december 2013
– It’s mascot is the japanese Shiba Inu dog which gained its fame after its meme went viral.
– Many people have a lot of misconceptions about dogecoin thinking that it is only a joke and not worth investing.
– However, this “joke” has a current market cap of over 805 mill dollars and grew by 400% in december of 2017. At the peak of it’s time it touched $2billion market cap
How did DogeCoin crypto come to acquire such fame?
Cryptocurrency going mainstream end of 2017
– Around the end of 2017 when bitcoin crossed 20000, cryptocurrency became mainstream.
– A lot of new investors were curious.
– Most believed that the ship had sailed on the higher priced coins like bitcoin and ethereum which had already shown massive growth and didn’t think that they could capitalize on it.
– So they look to cheaper alt coins.
-S o around this time there was a huge influx on capital to cheap altcoins and one of them was dogecoin.
2. Dogecoin has garnered a loyal fanbase
– Overtime, since its conception, Dogecoin has garnered a loyal fanbase.
– This can be seen clearly when you visit its own reddit page which has over 110000 subscribers whilst ripple has close to 180k subs on reddit.
– Most of the people that buy Dogecoin buy it for the meme’s.
– if not they buy it so they can trade it later for another coin.
– Dec 25 2013 DogeCoin stolen and within a month enough donated to get it back
Should you buy DogeCoin?
– Now the important question – should you buy DogeCoin?
– Short answer no – long answer if you don’t mind losing your money or just want to buy it for the memes go ahead.
– Even the creator of Dogecoin hinted that it’s not worth it.
Future of DogeCoin
– DogeCoin is currently mostly used as a tipping coin on reddit and will be continued to do so for a while unless reddit comes up with something else
– There are no major DogeCoin price predictions
– But that is pretty much where it’s going to stop
– DogeCoin like a lot of other alt coin does not really have much of a use case and in the future will drop down to almost $0
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