DOGECOIN : The Coinbase Effect in Motion!!
Dogecoin the other day had a big announcement from Coinbase that they’re officially listed on Coinbase Pro and this is a big deal because something called the Coinbase effect. which is that on average, whenever a token is listed on Coinbase, it increases its price by 91 percent within five days after being listed, according to a research report done by Messari.
Dogecoin is up about 40 percent since the announcement first came out. The community behind it is stronger than any community in crypto. Dogecoin price could reach the all time highs we saw earlier in the year when it was at over 70 cents per coin.
Found this this pic of me as a child. And it says, 1980 : I have to keep my passion hidden from the public or I’ll be socially ostracized.
Dogecoin : People using it to people own it
Dogecoin was created as a joke, as a meme, but between Elon Musk, between Coinbase, between all of these major companies, either accepting Dogecoin, pushing for Dogecoin, talking about it, it’s just more and more legitimacy is being pushed into Dogecoin because we know that the first and most important step with crypto is our people using it to people own it.
And Dogecoin is definitely that. A lot of people use it. A lot of people talk about it, a lot of people own it. And that’s the first step. If people don’t own the crypto, doesn’t matter how good it is, how efficient it is with mining, how secure the network is none of that matters if people don’t own it.
So now we’re at a point where many people own Dogecoin, even if it’s just for a joke. And at this point, with Elon Musk behind it, Elon Musk talking to developers, that is what you want to see because they could always change. They could always improve the network, the block chain. And that will be something we’ll have to wait and see what happens. But either way, this announcement from Coinbase is very important for Dogecoin moving forward and could result in a 91 percent gain in price.