Memes & Crypto
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Maybe Dogecoin started off on the wrong foot. That decision to launch the coin logo based on a meme may have been a mistake.
The lack of seriousness that he transmitted, prevented the eyes of large investors from settling on that.
Perhaps we should remember that the MEME sensation constitutes since its launch, a massive phenomenon, which at first glance, does not seem more than simple graphics with funny content, however, they represent one of the most used forms of expression today, and that is something that It cannot be ignored or underestimated, since it is a concrete event that occurs on the web and of which millions of users are part.
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Perhaps based on this premise, the creators of Dogecoin bet on its success. Although they did not say that no one would be willing to risk their money, in the image of a smiling dog.
At the root of everything, we must accept that this is one more cryptocurrency, which has, or can have, the same applicability of any other crypto.
Adoption
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What makes a cryptocurrency more valuable? The level of adoption.
The first great historical rebound in its value had it in January 2018, reaching $ 0.01.
In mid-April 2021, I had a never before seen increase climbing from $ 0.006 to $ 0.04 in less than a week.
Today May 6, 2021, Dogecoin reached the value of $ 0.61. A whole record.
In this case, a project like Dogecoin, which went so many years without being supported by anyone, had a revival that began with a tweet from Elon Musk.
This caused many eyes to settle on Dogecoin and now it may have the support it never had from users, demonstrating in turn that market volatility can often be influenced by speculation and that an important turn can always occur by turning the balance. in favor of those who least expect it.
@juanmolina
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The Dogecoin revolution, or bullrun, is a perfect example of a crypto that doesn't really have a usecase, but that is sold simply because it is cool and hot! The way I see it, this is what makes people often suspicious about cryptos, simply because a Tweet is everything needed to see it moon... without having anything special to offer besides that.
No matter what, I might be very wrong... Dogecoin is for sure interesting, but not a coin I would ever buy! :)
Maybe it isn't a valuable coin, as you said, the sure thing is that many people have earned a lot of money on this alt season.
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Thanks a lot.
Actually, the meme idea was kinda smart because memes are what most people seeing everywhere these days, so it got popular as meme material or crypto, even though I have never thought about investing in it.
Nice read!
The memes industry is huge. Millions of dollars are traded every day around this concept.
But, this going being just fun.
When we looking for a concept to invest in, we don't like a joke concept. Well, it's just my thought.
I am impressed with what is happening with Dogecoin. I never thought this coin would even make it to the top 10 cryptocurrencies with the largest market capitalization. And now I see it in 4th is crazy. Just thinking that in the past I have had in my hands up to 100 thousand Doges.
Financial Markets Analyst.
@lenonmc21
Really?
My dear friend @jadams2017, had also many of these coins.
Initially I think that no one would have bet on a cryptocurrency that was inspired by a meme, considering that there is nothing funny about finance and investments, but it is very true as you have seen it is a cryptocurrency like others and its value does not lie in its appearance, if we think about it, it is a bit like in people.
There is all the truth.
It seems curious to me when you say that cryptocurrencies are like people. I had never thought in that way.
If you think about it, sometimes, if not always, people are assigned a value based on their outward appearance, very seldom do we stop to verify what they really are for their true value.
We all seen the power of words by big people. Doge coin is skyrocketing in price and we can see it will cross 1$ in the coming months if the same ride will going on just hold and enjoy for now.