The idea that a cryptocurrency may have enduring value is not outlandish. In the past few months, the Dogecoin price has gone through a roller-coaster pattern of dizzying price surges and massive plunges, despite people dismissing it as a joke coin with no real potential for growth.
Dogecoin, like all currencies, increases in value as it becomes more widely regarded as a means of exchange. Even though dozens of small businesses now use Dogecoin, the impact on the economy is negligible that said, the Dallas Mavericks of the NBA will accept Doge to allow customers to purchase tickets and merchandise through BitPay.
2. Over Bitcoin, It Offers Some Advantages On A Daily Basis
The non-profit VeriBlock Foundation states that it is developing a secure blockchain technology that uses Bitcoin’s proof-of-work security for other digital currencies, including Dogecoin. In addition to lowering Bitcoin’s relative environmental costs, the technology could provide superior protection for other digital currencies.
Like all cryptocurrencies, Dogecoin has taken a beating over the past few weeks. Its value fluctuated independently of Bitcoin or even the crypto market during its rise. Its price has been hovering in the $0.30 to $0.40 range for nearly a week.
Self-proclaimed Dogefather consistently pumps Dogecoin on social media. The billionaire is likely to tweet about his favorite coin in the year to come. His opinion is that Dogecoin is the people’s crypto and that spending it is easier than Bitcoin.