Five Reasons to Love DogeCoin

Published on 13 December 2017 by Cryptovest Staff

DogeCoin was seen as a goner, once it sank toward $0.0009 during the large October shakedown of cryptos. But now, DOGE seems to be returning on stage, with a price spike of more than 25% in just a day, along with other altcoins growing without boundaries.

1. Easily acquaints newbies with cryptocurrencies

DogeCoin is available through faucets, micro-wallets and can just be sent and received with very small fees. Because of this, owning a few DOGE can invite many friends over to cryptocurrencies. DOGE is easily exchanged, very liquid compared to other low-priced assets, and is similar to larger coins in transfer utility, if not better.

2. DOGE mining is greener

DOGE mining used to be done independently, but now it's tied up with the production of Litecoin blocks- no extra machines, no extra electricity. There will be an unlimited supply of DOGE, produced each time a LTC block is solved, for a simple, one-layered means of payment.

What is Dogecoin: The Memecoin that Keeps Going

3. DOGE has room for growth

DOGE has climbed to position 36 on CoinMarketCap, with a total capitalization of $396 million. While this seems like a lot, a sudden spike in popularity could really lead DOGE ahead. Other altcoins have big dreams and projects, but DOGE relies on sheer luck. With a price of $0.003531, nearly four times the price at the bottom, DOGE has shown it can cause active trading and move to a higher price range- while remaining affordable.

4. DOGE is popular with Asian investors

5. DOGE refuses to disappear

The DOGE meme and culture turned out to be surprisingly resilient. A coin made as a joke managed to survive where other overly promoted digital assets fell to the wayside, their prices sinking to nothing, along with the community support. Projects like Panda Coin were serious efforts (with a hidden personal enrichment agenda), while DOGE was made as a joke and turned successful. Even at depressed prices, DOGE was used and traded.

Of course, there are caveats around DOGE. In the earlier years, it has been used in scams and has seen thefts. But now, DOGE may be entering a new stage.

"The “free market” may end up ruining a lot of holidays 🤷‍♀️https://t.co/JDZ0hWptFb— Jackson Palmer (@ummjackson)December 10, 2017"

Jackson Palmer, the creator of DOGE, is still a prominent figure in the cryptocurrency community, recently seen promoting a handful of ICOs.