Dogecoin (DOGE) is a cryptocurrency developed on the Litecoin platform. Dogecoin launched on the Crypto market in late 2013 and immediately made a lot of its mark. Initially, the coin appeared as a joke, was inspired by a popular meme on the internet, the dog Shiba Inu.
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However, Dogecoin soon ranked as the 20th largest cryptocurrency with over a $ 683 million market cap. With the average return on the market, and fueled by a strong community, here are the reasons Dogecoin is not a joke.
Most recently, there is no doubt that Dogecoin became one of the top growth currencies in 2018, especially over the past two months.
The digital currency is still growing despite the downtrend of the market, which shows that DOGE investors are still very serious about their choice after all, despite some enthusiasts, and small investors have been complaining about DOGE’s hype since the beginning of the year so far.
Some people said that the spike in Dogecoin’s price was indeed fueled by Dogethereum’s announcement. While Dogethereum is supposed to become a hard fork of Dogecoin, Dogethereum will eventually become the bridge between Ethereum and Doge.
This interconnected demonstrated the ability of the development team of DOGE to allow cross-border transactions both ways, in ETH, and DOGE, with the Blockchain “bridge,” with the aptly named Dogethereum. While the product is still being finalized before being put into actual use, the team was able to demonstrate its capabilities in the early days of September.
Therefore, it is easy to see that Dogethereum is one of the factors contributing to the issue of Dogecoin that is not only a “coin joke,” but also an outstanding blockchain project.
DOGE’s primary goal is to be an alternative payment method in the form of a cryptocurrency, like Bitcoin. With faster processing times and lower fees than BTC, Dogecoin has provided a smooth micropayment, and global payments experience for DOGE users.
Further proof of Dogecoin’s potential is the fact that the coin is part of the growing demand for crypto assets that can serve the purpose of replacing conventional payment methods.
One of the latest updates from the DOGE team is DogePal, which represents a new service launched by the project’s development team, with the idea of allowing email-to-email payments in the form of units DOGE.
The main goal of this service is to bring Dogecoin to mainstream adoption, while the team is currently providing free advertising to companies intending to join the network.
Dogecoin’s potential is that, as the DOGE team updates new services and achievements, the cryptocurrency will no longer seem to be a “joke,” but significantly increasing the respect in the marketplace.
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