Dogecoin has been around for a long time and is still providing a fair return on investment for most early adopters who were able to keep their holdings. This asset debuted in 2013 and was based on a meme concept. When we view cryptocurrencies as effective micropayment transaction solutions – which go a long way toward solving so many problems that are either concealed or overlooked by large payment gateways – it’s an intriguing observation.
This market niche is known for being one of those “accident” sorts that subsequently turned out to be something more. It mimics the Litecoin network and includes most of the functionality seen in the previous, and it is predicted that this will provide the platform with a competitive edge over bitcoin.
Is It Ok To Buy Dogecoin In 2022?
The one positive aspect of this asset is that it is quite inexpensive, and has been from its beginning, which leads one to ask what distinct benefit this currency has over other forms of payment.
To begin with, the asset’s low acquisition cost makes it incredibly affordable and suitable for micropayment services, so you may invest in DOGE with confidence that you will be able to spend it everywhere it is accepted. Furthermore, as a result of widespread acceptance, the coin’s value is anticipated to rise.
Furthermore, as a trading asset, it has demonstrated the capacity to double in value, which has become an important characteristic. So, depending on his plans, an individual who invests in this currency will reap both long-term and short-term gains.
Whereas many altcoins are focused on the grand picture of cryptocurrency and how blockchain as a whole is groundbreaking, this crypto appears to solve a large online demand by a specific group of people.
It caters to a certain demographic of online surfers and content providers who want to be tipped for sharing information or creating material on the internet without necessarily getting ‘compensated’ for their efforts.
The quick rise of this coin has made it valuable to the community, which should not be overlooked. With over 114,845 Reddit users continually applauding and praying for the best in this blockchain product.
Although this is pure conjecture, and I can’t stress it enough, there are reports that 1 DOGE might be worth $1 USD in the nearish term, which would be something to look forward more to. If you could invest now, you might get a significant return on as little as $100. And if the price is already $1 by the time you read this piece, you know that its potential isn’t bounded.
A crypto coin, as with any other alternative, exists for various reasons, one of which is to address an issue they want to resolve with a future in mind. DOGE’s mere existence is ludicrous, but it hasn’t prevented it from skyrocketing, maybe with a little help from the network’s pump and dump actions.
Investors showing interest in this project must recognize that this crypto has a niche in the micropayment industry.
