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Because of this, owning DOGE can invite a lot of friends over to cryptocurrencies. It is easily exchanged, very liquid as compared to other low-priced assets, and is equivalent to larger coins in transfer utility.
Gone are the days when DOGE mining would done independently. Each time a Litecoin block is solved, there will be an unlimited supply of DOGE as a one-layered means of payment.
While this may seem like a lot, but a sudden spike in popularity could really lead this cryptocurrency ahead in future.
Other altcoins may have big projects running at the time, but DOGE relies on sheer luck. The DOGE meme turned out to be astonishingly resilient.
Despite the bearish cryptocurrency market, Dogecoin managed to survive, where other overly promoted digital assets fell to the withering chaff with their prices sinking to nothing.
Where other cryptocurrencies were a part of serious campaign, Dogecoin started as a fun and became successful in no time.
With the above discussion, we can see, since Dogecoin was born, it has been making a good progress and there are several reasons which make Dogecoin a good investment in His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.
BTC Wires is an online digital media platform which provides information for the crypto and blockchain technology fraternity.
So needless to say, many people on this forum have many different opinions…. Community members are commenting and posting about once every 3 or 4 hours.
This is a good sign. Moreover, apart from bearish and bullish statements of Reddit users about Dogecoin, you will also find links such as this , this , and this which say that Dogecoin is actually being used in commerce and fundraising.
GitHub — GitHub , which holds the source code of this open-source cryptocurrency, has not seen any update since October Also, the contribution of members of this open-source development community has not been significant.
During the initial days of Dogecoin, you would find tweets in a day, sometimes even more. But now, you will maybe see 1 tweet every days, which is pretty unusual in the crypto space.
This stagnation is a likely indication of lost interest and lack of direction. It has a quite high inflation rate as well as an extremely large and uncapped coin supply.
While Dogecoin is technically a fork of Litecoin, they have changed several parameters. For instance, Dogecoin has a 1-minute block time, while Litecoin has a 2.
Also unlike Litecoin, their coin supply is uncapped and unlimited for perpetuity. So as you can see, Dogecoin has already hit the ,th block in February , and ever since then, they have been injecting 5.
I personally do not suggest investing in Dogecoin for the following reasons:. All these things aside, the original idea was a joke.
It was meant to be a funny thing that had a lot of inside references to culturally relevant at the time things.
Even Coindesk captured some of the comments of existing Dogecoin dev team members which clearly indicated that as long as people are willing to engage with, learn about, or buy things using Dogecoin, it is not going to die.
And stay tuned to CoinSutra for more hot cryptocurrency discussions! Like this post? Share it with your friends! He has a background in both finance and technology and holds professional qualifications in Information technology.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
They are quite different from Dogecoin. But for now comparing Dogecoin and Linda will like comparing apples and oranges because there is a lot of difference between the two.
It is traded on several exchanges including a few well known ones. New money is coming into the market. And what will they invest in?
First Bitcoin because that is the gateway crypto. Then they will start looking for good deals based on research Iota, Ripple… and then they will find they can buy many Doge at a great price and just take a fun gamble.
THAT is why Doge will succeed in the medium term. As for me, doge is worth investing. For as long as bitcoin continue to rise in value doge will continue to grow.