A bit of context
On 2013, “Doge”, a popular meme of a Japanese dog got viral when in an absurd joke the engineers Billy Marklus and Jackson Palmer released to the market the DOGECOIN. At the beginning the reaction null, nobody paid much attention and it was underestimated. Does someone take seriously a cryptocurrency that has as logo a meme? Apparently not so much, but time showed a very different story.
According to some records, DOGE after 15 days released, its value was multiplied by 300x. If this increase in terms of the price per token was not noticeable for the investors it was a huge amount of returns depending on their amount of coins, for obvious reasons this caught the immediate attention of the market for the Japanese dog coin.

3 differentiating aspects of the dogecoin vs other cryptocurrencies

    Dogecoin is ranked on the 2nd place as the most followed cryptocurrency on Reddit.
    Dogecoin has no minting limits which makes it a inflationary coin that can be manipulated by the project owners at any time.
    Its low cost per coin makes the transaction fees for send and receive coins cheaper than the ones present in other major popular coins like Bitcoin, Ethereum and Litecoin.

What was the purpose of the Dogecoin creation?

Dogecoin surged as a joke to mock of cryptocurrencies, the curious part is that the joke has became at the moment of writing these lines the 7th biggest cryptocurrency by market cap according to CoinmarketCap data.

Should I invest on Doge-like cryptos?

Any investment has an associated risk, however a digital world requires truly digital decentralized currencies, the real value of a coin / token depends on the use cases of the project and the tokenomics surrounding it. As Ethan Ilzetzki, a recognized economist of the London School says: cryptocurrencies well designed and engineered tend to increase its value in long term. Always before investing on any crypto asset do your own research DYOR!

Why the increasing popularity of Dogecoin?

Dogecoin has not an active development or even future projects, it has became very popular by supporters, influencers and celebrities like Elon Musk, who described DOGE as the people's crypto. Since that moment its price has reached all time highs and a lot of euphoria of their community that wants DOGE to reach $1 per coin, the question here is, DOGE just by the people feelings and emotions will be able to reach the $1 per coin? Only Time will tell.
Last modified 4mo ago