The bear market may have dragged on for more than a year, and some cryptos are already at risk of going under due to funding issues. In spite of all this, Dogecoin (DOGE) soldiers on. The community is as vibrant as ever, and never fails to share funny Doge memes. But while these memes may make Dogecoin (DOGE) come across as a joke, it is actually a serious coin, and a worthy investment at that. Several factors make Dogecoin (DOGE) stand out, as a good investment.
First, there is the aspect of Dogecoin (DOGE)’s utility value. There is more to Dogecoin (DOGE) than funny memes. Dogecoin (DOGE) is one of the few cryptos that have real world use. Real use in this case means people actually paying for something using it. In fact, it ranks close to Bitcoin (BTC) and Ethereum (ETH) on this front.
Why does this matter? Well, this usage implies that there is real demand for Dogecoin (DOGE) in the market, and that’s a huge source of value. As this usage grows, so will the value of Dogecoin (DOGE). The best part is that, due to its heavy usage for everyday transactions, Dogecoin (DOGE) is likely to experience stable growth, a critical factor if cryptos are to ever gain mass adoption in the payments market. To put this into context, SWIFT CEO in a recent Fintech forum stated that, they have stayed away from adopting crypto, due to its low volatility.
Essentially this means that the only hope for crypto mass adoption is in price stability. This means that Dogecoin (DOGE) has what it takes to lead the pack in the journey towards crypto mass adoption. That’s because as more merchants get to learn of its price stability, they will be enticed to use it. The result will be exponential growth in the adoption of Dogecoin (DOGE) as a payment method.
Another factor critical to crypto mass adoption is awareness. While the 2017 pump opened up crypto to a wider audience, the journey is far from complete. Overall, the number of people who know about crypto is still low. Again Dogecoin (DOGE) has the potential to be one of the cryptos that lead in driving up awareness going into the future. That’s mainly because of the friendly nature of the Dogecoin community.
The Dogecoin community is one of the friendliest in crypto and that’s critical to bringing in new users. The community is very proactive in community projects that create more awareness about Dogecoin (DOGE). For instance, the community is active in a charity project that gives socks to homeless people in Los Angeles. In the course of helping out, this charity opens Dogecoin to a wider audience, and this will drive up its adoption in the long run.
With all these factors at play, Dogecoin (DOGE) is easily one of the best cryptos out there. Therefore, as adoption grows, it is likely to grow at a faster rate than a good portion of the other altcoins.