Dogecoin was officially launched at the end of 2013 as an ICO memorable by its funny mascot of the most famous Shiba Inu across the World Wide Web, Doge. As the currency went on under a funny meme, many crypto enthusiasts considered it to be nothing more than a joke attracting fans of the ingenious meme.
However, DOGE soon came to be ranked as the 20th-largest coin in the market with over 683 million dollars in market capitalization. With rising above the average gains in the market, and driven by a strong community, here are the reasons that prove that Dogecoin is not a joke.
Dogecoin Spiking up at an Increased Rate in 2018
As of the most recent case, Dogecoin is without any doubt one of the top gaining currencies in 2018, especially in the course of the last two months, also scoring a major increase in the course of the current year.
If anything, the latest gains against the fiat, and despite the frequent market dips, are showing that DOGE investors are serious after all, although some enthusiasts and small-cap investors have been complaining about the inflator rate of DOGE on a YTD level.
Moreover, Dogecoin shut down all implications that the initial currency represents nothing more than a “joke”, also being referred to as “meme coin”, “joke coin”, and “fun coin.”
In the course of the last year, Dogecoin has respectfully gained over 400% of gains against the fiat, as it additionally went up by nearly 100% in the course of the last two months despite the constant retreats of brief and somewhat weak positive trends in the market.
Furthermore, Dogecoin went up by over 80% in the period of the last 30 days, also showing progress on a weekly chart, although going up by a weak set of 1.5% of gains in the last 7 days, which is the result of the sluggish trends occupying the market for the past week.
Dogecoin and Dogethereum Outside the Hype
It is a general opinion that the sudden rise, as well as the spike in the price of Dogecoin, was actually driven by the announcement of Dogethereum. While Dogethereum was supposed to come off as a hard fork of Dogecoin, Dogethereum finally turned out to be a bridge between Ethereum and Doge.
The bridge demonstrated the ability of the dev team behind DOGE to enable cross-border exchanges in both ways, in ETH, and in DOGE by using the blockchain-based bridge, cleverly named Dogethereum. While the product is still to be perfected before being officially put to a practical use, the team has demonstrated its abilities earlier on back at the beginning of September.
Dogethereum is thus easily one of the factors that indicate that Dogecoin is most probably a lot more than a “joke coin”, rather categorized as a prominent blockchain project.
Dogecoin Can Be Actually Spent in Online and Physical Stores
The main objective of DOGE is to become an alternative payment method in form of a cryptocurrency, much like the original digital asset, Bitcoin. Having faster processing times and lower fees than BTC, Dogecoin is already providing a smooth micropayment and global payment experience to DOGE users.
What makes Dogecoin additionally useful is the fact that the currency is a part of a growing demand for crypto-based assets that can serve the purpose of posing as alternative methods of payment.
Some of the places where you can actually spend your Dogecoin units are eGifter, AllGamer.net, BitcoinShop, IronRail Diner, Dogeazon, Clean it Supply, Diadem Jewelry, AFK Apparel, Element 7, Pex Peppers, Bitcoin Jerky, Dogecoin Athletics, as well as a great number of donation centers and more retail shops. The list of the retails that accept DOGE as a payment will hopefully grow, but the by far list confirms that there is a wide targeted audience that believes in the stability as well as the functionality of DOGE as a payment method.
Dogecoin and DogePal Tipping
One of the latest updates from the Dogecoin team goes to DogePal, which actually represents a new service launched by the dev team with the idea to enable email-to-email payments in form of Dogecoin units.
The service is linked with a decentralized Dogecoin wallet, and it goes through Dogecoin network, enabling money transfers through unique individual accounts that only require email addresses for sending payments to other Dogecoin users through the network that will also keep the community updated on the future achievements of the well-known Shiba Inu currency.
The main objective of the service is to be brought to mainstream adoption, while the team is offering free advertising for now, for companies that intend to join the network.
As Dogecoin team is updating the community with new services and achievements, the currency seems to be far away from being categorized as a “joke”, additionally gaining more respect in the market.