What is Dogecoin (DOGE)

“Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online. Think of it as "the internet currency."

The good
Dogecoin is a meme coin. Its purpose is to be a fun coin used for internet tipping. With its USD value staying around 1/1000th of a cent it is the perfect coin for that purpose. Like something someone’s doing on the internet give them tiny fractions of pennies in the form of Dogecoin. Dogecoin does not take themselves too seriously. The video for Dogecoin on their website is hilarious, and incorporates the culture of the internet. Dogecoin is the first meme coin, and spawned an entire class of cryptocurrency from it. Dogecoin has a fanatic community which can be viewed by the activity on the Dogecoin Reddit page.

The bad
Dogecoin is inflationary - so it will not have the same growth expected in deflationary coins such as Bitcoin. It is prime for pump and dumps because of its low price. It has a large community while only being listed on the most trusted exchanges. The other problem Dogecoin faces is the negative publicity it receives from people who don't understand the internet or crypto community. They see a meme coin as proof of a over inflated market, instead of the value of a fun currency used by the internet. Be weary of large dogecoin investments due to both its inflationary programing and pump and dump nature. Money put in dogecoin should be seen as money spent and not money invested.