Dogecoin will probably survive this time - News-Credit-Mortgage-Coin


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Thursday, May 6, 2021

Dogecoin will probably survive this time


Dogecoin or otherwise known as the joke coin. People love a nice joke, right? Centuries ago, the Greek philosopher Aristotle used the phrase "Gods are also fond of jokes."

When the current market rally is pictured, it is quite clear that traders are caught up in the biggest joke coin of the market.

Dogecoin and the Ongoing Rally

As part of the ongoing price rally, DOGE has replaced XRP to become the fourth largest cryptocurrency by market cap. With a price of well over $ 0.65, the market cap of altcoin has settled over $ 85 billion.

Bitinfo's data show that the number of people involved in Dogecoin transactions is very low compared to Ethereum. For example, while 1.4 million ETH transactions were made yesterday, the joke coin recorded 76 thousand transactions.

This glaring contrast brings to light the fact that DOGE whales trigger cryptocurrency's price surge every time. So you can't help but wonder if the Shiba Inu-themed cryptocurrency is now the pet of whales!


A recent report by Galaxy Digital describes Dogecoin as the most "Gallows Humor" investment tool.

"Dogecoin will continue to be part of this crypto story in the long run, always in the shadow of Bitcoin, but always lurks and periodically performs better to surprise us all."

Missing in the Project

The report also pointed out that Dogecoin's GitHub repository has not existed since 2017, pointing to a general lack of development effort for the project. As it gains momentum and popularity, only the future can tell us whether cryptocurrency will witness an increase in developer interest.

However, the DOGE community does not care much about their development efforts. While the price of other cryptocurrencies is a function of the latest developments in their ecosystems, DOGE's price works completely differently.

Every time Tesla CEO Elon Musk tweets about cryptocurrency, loyal DOGE enthusiasts go crazy and the markets put themselves under upward pressure.

The report emphasizes the "honesty" offered by the coin, "DOGE, as long as the jokes are funny, Bitcoin will likely survive." emphasizing.

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