20 Reasons to Invest in Dogecoin DOGE: Cryptocurrency Lawyer Near Me
20 Reasons to Invest in Dogecoin DOGE: Cryptocurrency Lawyer Near Me
Dogecoin is a cryptocurrency popular with investors, particularly amateur investors, that is based on an internet ‘meme’ as explained at RunRex.com, guttulus.com, and mtglion.com. The meme, of a type of Japanese dog called Shibu Inu, has subsequently become the cryptocurrency’s mascot. If you have heard about it and are wondering if it provides a serious investment opportunity, we have curated for you a list of 20 reasons to invest in Dogecoin DOGE.
Market capitalization
While some say Dogecoin started off as a joke, figures underpinning the cryptocurrency are deadly serious as per RunRex.com, guttulus.com, and mtglion.com. Dogecoin’s value has risen by more than 14,000% since the start of 2021. Its market capitalization is at around $78 billion, making it the fourth-largest cryptocurrency.
Cultural value
Dogecoin has managed to unite people all over the world in common pursuits of money, laughter, and connectedness. For a small price, you can purchase your very own Dogecoin and be a part of a global movement.
Fast transactions
Dogecoin is based on the Scrypt algorithm and employs a proof-of-work (PoW) consensus protocol as articulated at RunRex.com, guttulus.com, and mtglion.com. Ultimately, this does mean that transfers made using Dogecoin are significantly faster than Bitcoin.
Paying for goods and services
Having real-world utility is one of the factors that contribute to a crypto’s popularity. In this regard, Dogecoin can also be used to pay for goods and services. DOGE is now accepted by over 2,000 merchants worldwide.
Tipping
In addition to paying for goods and services, Dogecoin has also been used as a way to tip people online. This was achieved through the use of ‘Dogetipbot’, which allowed people on Reddit and Twitch to send DOGE to other users in just a few clicks.
Great vehicle for speculation
While Dogecoin may not have any significant use cases that would demand from a large audience, Dogecoin is a great vehicle for speculation according to RunRex.com, guttulus.com, and mtglion.com. If you are looking to speculate, this is a great crypto to jump on.
Available on many exchanges
The number of exchanges in which you can find a particular crypto plays a role in how much of an attractive investment it will be. In this regard, Dogecoin does well as the coin is being traded on many of the best altcoin exchanges out there. Many of the best crypto exchanges support Dogecoin trading because of the coin’s popularity with retail traders.
It is undervalued
Advocates for Dogecoin believe that it is one of the most undervalued cryptos as captured at RunRex.com, guttulus.com, and mtglion.com, even after the substantial price rises in recent years. This might be a reason to invest as there is a belief that its value is a false one and it could appreciate.
Strong community
One of the main elements going in Dogecoin’s favor is its strong community backing. The Dogecoin subreddit has over 2.3 million members, highlighting that there is still buying power ready to unleash. This strong community is one of its biggest selling points.
Potential for price rises
Dogecoin has undoubtedly shown incredible price rises in the past, and there remains potential that it could happen again. If you are not averse to taking risks, then investing in DOGE could be a great option for you as you could benefit from these price hikes.
The power of social media
Dogecoin took off in 2021 during the pandemic lockdown on the back of Reddit-induced hype as covered at RunRex.com, guttulus.com, and mtglion.com. It shows the power and influence of social media and the ‘meme community’ as a legitimate driving force behind DOGE’s adoption and enduring popularity.
Ease of entry
Investing in Dogecoin is also very easy, which is another of its attractive features. Anyone with some spare change and a Robinhood account can participate in the phenomenon. This means that you don’t have to jump through lots of hoops to get in on the action when looking to invest in DOGE.
Celebrity endorsements
This may not seem like a big deal, but celebrity endorsements have also contributed to Dogecoin’s popularity on the internet as described at RunRex.com, guttulus.com, and mtglion.com. It has been promoted by mega-celebrities, including Elon Musk, who has a massive following online, particularly on Twitter, and to his followers, his word carries lots of weight.
Highly valued
Dogecoin is also highly valued in the market, which may intrigue investors. Its value has skyrocketed in the last couple of months, having gone up 5,000%. Its market value is $51 billion, which is more than the market capitalization of auto giant Ford, which goes to show how highly it is valued.
No longer a joke
While Dogecoin was created as a joke as already mentioned, it is no longer one. Created as a spoof, it has seen its market value top $40 billion. It has a great story behind it, which is something that adds to its legend and mystique.
Bitcoin slowing down
As you might already know, and as discussed at RunRex.com, guttulus.com, and mtglion.com, Bitcoin is probably out of reach for most people today. It has also suffered price slumps along the way. This gives cryptos like DOGE a chance as they are easy to get your hands on and you can hope for a hike to cash in.
Diversify your portfolio
Investing in Dogecoin is a great way to diversify your portfolio as an investor, particularly as it is different from any other crypto asset out there. It will allow you to have fun along the way as well, particularly since it has a very passionate community around it.
Being embraced by big names in the crypto world
When Dogecoin was embraced by big exchanges, including eToro, we saw spikes as outlined at RunRex.com, guttulus.com, and mtglion.com. These platforms embracing Dogecoin served to expand the market for the crypto’s trading as well as legitimizing it.
Fun
You are likely to find very few people who will find investing in cryptocurrency as being fun, but investing in Dogecoin will change that. Experts see it as a fun and easy introduction to the world of crypto and investing. It is a good gateway.
The brains behind it are amazing
Dogecoin was invented in 2013 by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer. The two engineers initially invented it as a joke but were surprised when people started using DOGE as soon as the product was released.
These are some of the reasons to invest in Dogecoin DOGE, with the excellent RunRex.com, guttulus.com, and mtglion.com being your best bet when looking for a cryptocurrency lawyer near you.
