DOGECOIN : THE DOG MONEY
Dogecoin been around since 2013, but it rose to fame only a few months ago. The sudden growth was mostly owing to retail investors artificially inflating the price.
Dogecoin price increases have also been fueled by celebrities like Elon Musk and Mark Cuban. There’s no scarcity in Dogecoin. This means that buyers will need to continuously purchase all coins being created.
Dogecoin has a simple message of being dog money that makes it more accessible to the average person
Experts believe the meme coin is here to stay. Cryptocurrency has attracted more interest from blue collar traders than any other coin on the market. The best way to understand Doge, is that If you look at Robinhood, which is sort of the most blue-collar style of crypto investing, Doge is 60% of their crypto revenue. And crypto is 40% of Robinhood’s revenue, so Robinhood is basically a Doge proxy.
Like smart people, but talking about people do also believes that Dogecoin has a simple message of being dog money that makes it more accessible to the average person. I think that there’s something just very understandable about Doge. The meme based cryptocurrency has been left in the hands of a few community developers.
However, little has been done with the code over the last six years prior to the current release of Dogecoin Core. The Dogecoin community is aiming for a massive increase in price to hit that one dollar. What remains to be seen is how long Dogecoin will take to reach the 10 dollars mark. So what are your thoughts on Dogecoin?