Does DogeCoin have a future?
11 February 2021
Dogecoin (DOGE) started out as a joke in 2013 and is still a joke today. It’s named after the ‘doge’ meme based on the Japanese Shiba Inu dog and has seen a 1000% price increase within a month.
Firstly Dogecoin was hyped by the famous subreddit “WallStreetBets”, further accelerated by a handful of cheeky Elon Musk tweets, and finally cheered by KISS rocker Gene Simmons and rapper Snoop Dogg - which sent trigger-happy Reddit traders straight into heaven.
You have every single right to be dubious over a currency that was built on the foundations of a funny dog meme. So, is Dogecoin just a stupid meme investment or worthy of your money? I encourage you to dive in on vetted comments to answer this question.
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1
Entrepeneur, Blockchain & Cloud Specialist
I have not invested in DogeCoin. It is just created as a joke. But in the end, it might trigger the people that are hesitating to start using Crypto. The well-known Celebrities are getting interested in the coin and it might be a good PR for crypto, but it doesn’t change that you always have to watch out, and be very careful while investing, always check the technicals, and fundamentals of the coin before investing.
I am happy that Elon Musk did this thing with the Crypto - I mean tweeting and encouraging people to at least give it a try. That is the best evangelization these days!
2
OTC Deals. ICO Advisor at Cryotoknowmics, BITOZZ and More, Strategy, Investor Relations, Big Network in The Cryptospace
Yes, I still have some DOGE from back in the years - I have bought them because I didn't really know what was the better opportunity to invest. We all know that Dogecoin is a meme coin. It has been created to give small tips to content creators. No fundamental values. But even with that problem - it keeps making great gains each cycle. I made some nice profits from my Doge. I think the cute dog is something many people like.
Most of the investors that put money into doge are newbies who see the coin and think it is a good one. They invest because they don`t know any better (as I did back then...) but this doesn’t mean that they will not make good profits from it, as we see right now. And others invest to make a statement against the current financial "dark hole" - there is a lot of bad thing going on, starting with banks, fractional reserve banking and so on. I think Elon Musk falls into the 3rd category - he is well educated but wants to make a statement. And we all know what a "MUSK" push can do to any of the crypto’s out there!
3
Venture Capital
I’ve invested in dogecoin about 4 or 5 years ago and then again last week, combining the last two questions here the difference I see between the stock promotion and the Dogecoin promotion is that everyone had heard of GameStop, AMC, etc. but none heard of this meme coin, and I think that exposure of Dogecoin should last long term. As for adoption, it's one of the few that is both on decentralized and centralized exchanges with a lot of room to grow in terms of market capitalization.
4
Full Stack web developer with a focus on web3 / solidity
I never invested in dogecoin because the supply is way too much, I don't consider it a stable investment. I can see the meme appeal, but with literally millions of coins being printed per day, I don't expect it to hold stable value. Aside from 1 doge = 1 doge.
Elon is just being Elon. He likes the attention. He's a smart guy but he also likes to meme.
The biggest winners here are the creators of dogecoin. Such a low effort and a high payout. And the irony is that they simply wanted to show that fools will buy anything. Even dogecoin. Well, they succeeded. Marketing is often more important than the true value.
5
Research and Development
Have you ever invested in DogeCoin? If so then why?
I started to mine Dogecoin with my PC in late 2013, early 2014. Was an amazing experience for me, as my previous experiences mining cryptocurrencies were a bit disappointing as most of the good ones at the time already had difficulty mining high for my PC specs.
Dogecoin was like a fresh new coin on which learning how to mine via Command Prop was at its best.
Why does DogeCoin intrigue everyone so much?
"Fresh Crypto, active community, much fun, such potential, many coins!"
The buzz at the time was that it was a new coin with a great mascot at its heart. Shiba Inu, implying that it was Bitcoin Pet (like copper is to gold), and at the time was a bit of fresh air, and like dogs no matter where on earth they are from, everyone loves them. In a way what is happening today is that Dogecoin is going viral, it's as solid as Bitcoin in terms of usage, safety and privacy as a Cryptocurrency. But unlike Bitcoin, spending 10 bucks worth of DOGE isn't going to make you cry the next day or two, when you see the market volatility for the currency dressing up in green and climbing to the top of the mountain, making you realize that the 10 bucks you spent a couple of days ago are worth 10 times more and in firm ground.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
Like I saw from the start, after analyzing everything about dogecoin, I came to the conclusion that: "Dogecoin is a Cryptocurrency worth having, to use it as day to day spending cash!" I guess Elon Musk in a way saw the same as I did and decided to grab a few Dogecoin’s to use as spending cash, the promoting of two one; a test to see how much influence his tweets have in the Decentralized Markets, or was just like everyone else that joined the Dogecoin army since the early days and bragged about it!
6
Blockchain/Crypto Copywriter
Have you ever invested in DogeCoin? If so then why?
I invested just recently to leverage the ongoing hype surrounding the Dogecoin market. But prior to this, no. Before I just get in on some faucets. I have always viewed Dogecoin as a speculative asset. There isn't really anything special about the project except for the very strong community support and support of some highly influential individuals whose opinion can move entire crypto markets. Dogecoin is a fun coin, a light-hearted project that was created without the typical drama associated with launching new altcoins given the increasingly competitive nature of crypto projects when it was launched.
Why does DogeCoin intrigue everyone so much?
In fairness to Dogecoin, it is a fast coin even faster than Litecoin. I think people fail to realize that Dogecoin can be a cheaper alternative to Litecoin. But what makes Dogecoin so intriguing is the fact that it can bring together the whole cryptocurrency community as well those outside the industry. The competing projects tend to throw shade or FUD on other
projects even to the point of calling them out as scams but not with Dogecoin everyone loves the project... I mean just look at their mascots how can you not love it right?
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
I think Elon Musk is doing the whole cryptocurrency community a favor by promoting Dogecoin. DOGE can be the stepping stone of some no-coiners to step into the crypto movement. I also think he truly loves the project, especially the dogecoin community. He once tweeted that the "simplicity of the project makes it such an ingenious initiative." I totally agree with his assessment. Most projects concentrate too much on the technical aspect of the project making it hard for the common folks to understand them. This makes crypto knowledge some sort of esoteric knowledge that only a few can comprehend. This is the total opposite of DOGE.
7
Technology - Finance - Operations - Sales - Marketing - Business Development - Leadership - Coaching - Non-stop Achiever
Have you ever invested in DogeCoin? If so then why?
Buying a dogecoin is not an investment. It is purely short-term speculation. I have not invested or speculated on doge.
Why does DogeCoin intrigue everyone so much?
It is getting media attention. Not sure if intriguing is the word. It is similar to BTC with a completely different purpose and monetary policy. It is intriguing as a derivative of BTC and as an educational/academic POC while having real potential to serve as a day-to-day currency vs the "store of value" provided by BTC.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
Elon has the right and responsibility to weigh in on these topics. It is foolish for my other leader to ignore BTC and crypto. We should all strive to measure net worth in terms of BTC.
8
Algorithm creator, coder, chem. engineer,trader,investor
Have you ever invested in DogeCoin? If so then why?
No, I won't invest in a token only for speculative reasons. I always try to combine both tech and profit.
Why does DogeCoin intrigue everyone so much?
That's because Doge is a meme coin. An easy coin to make a fuzz about and a funny conversation starter. Has no utility IMO.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
Elon Musk is just demonstrating the power of blockchain and its adoption that can be easily achievable and he is doing that by showing to the world that even a meme coin can perform well if it belongs on the right side of history.
9
Head of Product at Xangle
Have you ever invested in DogeCoin? If so then why?
The only reason Doge is getting any interest right now is because of Elon Musk's tweet that inspired the recent craze in the first place. It was a meme and still is a meme. Elon Musk even mentions the irony IF Doge becomes mainstream and grows beyond its original purpose as a meme coin in his recent Clubhouse session. It's fun as a meme, but was never built to progress beyond it's meme-ful purpose. There are 128 Billion Doge coins right now, that's almost 7-thousand times more coins in circulation than Bitcoin. If Doge were able to go up to $1, that would mean it would have a $128 billion market cap, 3rd place in current Market Cap ranks where Ethereum has $200 Billion at a price of $1,750. It's a total joke to think that would even be sensible or possible.
Why does DogeCoin intrigue everyone so much?
People are in it for the pump game, and nothing more. People will get burned the same way people got burnt by joining on the GME bandwagon.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
I personally think Elon Musk and other people of influence like Mark Cuban should not shill Doge. Elon Musk bought $1.5 billion in Bitcoin, but he barely shilled it. Musk has been in trouble by regulators for making statements aimed at going after his company's share price before. I doubt he's been shilling Doge if he actually bought it as he did with Bitcoin considering regulatory scrutiny.
10
Freelancer
Have you ever invested in DogeCoin? If so then why?
Yes I do have a few DOGE coins. Before, I never believed for DOGE to go as high as 0.10 USD but it looks like due to famous influencers, DOGE got famous.
Why does DogeCoin intrigue everyone so much?
I see some of my friends hate DOGE as it is only a meme currency and no usage. But I believe they are wrong. I know how Bitcoin was being laughed over 10 years ago.
What are your thoughts on Elon Musk Shilling/promoting DogeCoin?
Elon Musk tweeting DOGE and other currency brings more hype into the cryptoworld. I think a lot of people now trust cryptocurrency compared before especially that Elon showed his support to it.
11
Graphic Design | Bitcoin Mining | Social Media Management | Actor
Have you ever invested in DogeCoin? If so then why?
I am grateful to see what is happening with Dogecoin.
I invested in Dogecoin to raise money for investment for mining Cryptos.
Why does DogeCoin intrigue everyone so much?
I believe people are getting attracted by Dogecoin because of adoption. At first, it seemed like the developers had stopped working on improving it. The community around Dogecoin has grown over the years and now that Elon Musk and Celebrities are beginning to talk about it, more people rally around it and as the developers continue to upgrade its system, we will see more growth.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
I am pleased to see someone like Elon Musk promoting The Dogecoin. This is very good for the market and for me. The price goes up and I get to raise money to mine more Dogecoins. I expect to see the price at $1000 by the end of 2021.
12
Cryptographic Investment Manager/Founder Torrefuerte Capital and V15 Venture Capital
Have you ever invested in DogeCoin? If so then why?
I have not invested in dogecoin because it has no project behind it, it was born as a test or joke simply used as a tipping coin and there is nothing behind this asset that can justify investing in it, on the other hand, it is a high inflationary issue coin, of little value for the future and extraordinarily hyper volatile.
Why does DogeCoin intrigue everyone so much?
The notoriety of its recent rises makes investors intrigued by dogecoin, the publicity in social networking groups around this cryptocurrency feeds an inordinately speculative circle of interest and I realize that dogecoin is a too manipulable currency, ultimately its notoriety is due to the publicity it reached by the twitters of prominent men in the business world such as Elon Musk and CZ.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
I don't think Musk is taking dogecoin seriously, it is more like a joke than an opinion of a businessman of his talent and vision.
13
Blockchain enthusiast, interested in crypto projects that are solving real world problems.
Have you ever invested in DogeCoin? If so then why?
I haven't invested in Doge, I bought a few hundreds though a few years back but I didn't and haven't actually considered it to be something I want to add to my portfolio.
Why does DogeCoin intrigue everyone so much?
For a meme coin to catch the attention of the world's biggest whale is something to talk about in cryptoverse for a long time.
What are your thoughts on Elon Musk shilling/promoting DogeCoin?
Well, I think Elon has his reasons for doing that, but of course, we know Tesla recently invested heavily in bitcoin.
But the crypto market is crazy, anything could happen.
You could wake up one day and find doge occupying a place among the top 5, who knows!!
14
Investment Specialist,Crypto Currency Specialist,Analyst
Have you ever invested in DogeCoin? If so then why?
I have been investing in DOGE for several years because it has been instilling confidence in the secure network for many years and is also a small withdrawal commission, which can be switched very quickly to a large number of exchange offices with a fairly uniform price.
Dogecoin was very successful in spreading goodwill and fun and most likely those were the main goals.
Dogecoin intrigues a lot of Crypto participants because it has a great character with the image of a dog and it is a great blend of nature and digital technology in the Crypto world.
Why does DogeCoin intrigue everyone so much?
Dogecoin has a strong community and was on the verge of collapse after the 2013 theft. Many companies would fail after that but the Dogecoin community managed to save Dogecoin.
What are your thoughts on Elon Musk Shilling/promoting DogeCoin?
Elon Musk is a profit expert but regarding Dogecoin, Musk was most likely influenced by the fun and good signals coming from Dogecoin such as Dogecoin humanitarian activities around the world.
Summary
Dogecoin has seen an incredible journey from starting out as a fun concept to donating $100,000 to charities, to becoming an integral player in the WSB Reddit drive. Only time will tell what will be the next dogecoin move.
If there’s anything we’ve learned from the 2017 bubble, and this whole stock market x Wallstreet Bets debacle, it’s that when the hype dies, the money often goes with it. As nobody can predict in 100% the fluctuation of the market, it’s down to your own personal risk assessment to decide if this is a good investment for you.
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Please Do Your Own Research always! We are not financial advisors, any information provided in this article is not intended as investment or financial advice. It is merely information based upon our own experiences. The information we present is of a general nature and should merely be used as a place to start your own research and you definitely should conduct your own due diligence. You should seek professional investment or financial advice before making any decisions.
