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With many coins diverting from the Bitcoin dream, many platforms have exposed themselves to criminal activities through their noble decentralized systems. Dogecoin (DOGE) is not controlled or owned by anyone; it is a complete jungle outfit that will survive the test of the times. The anarchy aspect of the coin means it can never burst making it one of the best coins in the market now and in the future.
Just like Bitcoin, Dogecoin is decentralized and permission-less and this is the true essence of the blockchain technology.
The once belittled joke coin has been able to withstand the generic market crashes and its price continues to grow steadily despite the fact that the team behind the project seem to have abandoned it.
Dogecoin (DOGE) is Not Hype Sensitive
If you have been actively following the drama in the crypto verse, you will realize that DOGE price surge or drop is not driven by media hype; a true characteristic of a stable digital coin.
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The coin survival at the moment is vested on the community passion to keep it afloat. You cannot compare the coin with the much hyped TRON.
Dogecoin (DOGE) has a defined audience; the social media addicts; the audience has been able to increase DOGE usability by enabling users tip creativity in the entertainment industry through provision of informative content. This beats Facebook and other social media platforms that do not in any way rewards their users.
Originally, this was a meme platform that has been driven by the user to become a real world solution provider crypto.
DOGE is mineable and its circulation supply is among the lowest in the market. With time, the supply will diminish and the value of the coin will be driven by scarcity, just like Bitcoin.
Dogecoin Mainstream Uptake on the Rise
The price of Dogecoin has an enticing effect on new adoptions. New crypto investors are looking for lowly priced coins that do not expose them to volatility associated risks and DOGE is their perfect fit. They are focusing on demand and supply in the long term. This has made the DOGE brand get noticed as a tradable asset by Robinhood, a respected mobile trading application.
Dogecoin is less intimidating compared to mainstream coins and any newbie would go for it. This, according to CoinMarketCap is ranked fifth in terms of market circulation. Many users are staking up on DOGE since its listing on Robinhood because it is commission free and a market crash is not likely to affect the price negatively.
Dogecoin (DOGE) Market Performance
Dogecoin (DOGE) has support from major exchanges in the market but these are not the major volume movers. Much of its volumes are offloaded by smaller exchanges like YoBit and Btc Trade.in. These seem to have the appeal of young traders and the tight knot community around the platform.
At reporting time, DOGE was trading at $0.002359 with gains of 8.55% to the USD and 1.65% to the Bitcoin. This might appear marginal but with the market still fighting to gain stability, it is a good indicator of the hidden potential behind the coin and the community has a good reason to smile.
Since the Dogecoin (DOGE) creators seem to have deserted the coin, a simple improvement on the system and additional products are likely to transform it and keep the Bitcoin dream alive. With unconfirmed reports that plans are underway to revive this sleeping giant; more traders are putting the coin on their watch list and this could be the best coin to investing going into 2019.
Reasons Dogecoin (DOGE) is Best the Buy to Bitcoin Today. (2024, Feb 14). Retrieved from https://studymoose.com/reasons-dogecoin-doge-is-best-the-buy-to-bitcoin-today-essay
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