First of all a lot of people I know call it “doge” instead of “dog-e” not knowing or believing it is a reference to the creators love for Shiba Inu dogs. It is true that it started off as a joke coin after an internet meme but after years of dire predictions of its demise it has continued on. Not only has it continued but it has a stronger community who actively use it and it hasn’t attracted big investors.
This is all a positive sign and I think a potential for long-term upside if the developers just take it seriously. For friends and family who want to buy some cryptocurrency without the high price tag I always recommend Dogecoin as a low risk but possibly high upside coin.
The reason being is that not only is it a good buy in my opinion but if everything crashes and the value plummets Dogecoin will still stand. The reason I say that is the community behind it, it is here because people love it and use it, not because of hype and not because of institutional investors that are pumping it. In fact Dogecoin is almost identical to Litecoin you could say, the difference has all been in the team and the marketing. Dogecoin has had trouble shaking its image as a joke coin based on a dog.
I agree it was a joke initially, but today it is hardly anything but. We should also recall there was a time where people exchanged Dogecoin for BTC or vice versa to give you an idea.
Now I don’t say even in a million years that you will see Dogecoin hit prices like Bitcoin but it definitely has a strong upside potential.
I found Mercatox because they were one of the few that had some coins I wanted to buy but have since given up out of both frustration and lack of trust. Unfortunately in traditional form these smaller exchanges are usually broken or worse, some are often unreliable or outright scams.
The first notice I saw was a warning of “not to deposit to old BTC addresses due to security issues”. It is good to warn your users but why couldn’t they secure their own wallet?
So why not send some ETH? Oops it’s not working.
Dogecoin is “Not Available”
LTC is “Under Maintenance”.
So basically you have an exchange that isn’t working from the start and can’t accept deposits.
That’s when I clicked the “Logout” button as fast as I could, never to return to Mercatox. I’d rather not deal with the myriad of other issues that are the symptom of problems at the front end. This is also because in the cryptoworld 9/10 companies will never help you no matter what (eg. missing coins, deposits, withdrawals) good luck unless you sue them (if you can find them since most are anonymous without real contact information or ownership).
I’ve held Dogecoin for some time and never really considered it the “internet meme joke based currency” that some consider it and recently bought more as I saw it approaching the 1 cent mark. Those days are gone with a Christmas Present of Dogecoin crossing the 1 cent mark! In fact it is been surging lately despite naysayers predicting its demise for various reasons. One huge thing Dogecoin has always had is a loyal and large community who uses the currency.
Now that Litecoin has hit the $300 USD territory and many other altcoins are very expensive clearly others have seen the value and potential in Dogecoin. In fact I believe it is undervalued and in the past 7 days Doge has nearly doubled to reach the 1 cent mark and market cap of 1.2 billion! It’s a huge milestone and for those who remember way long ago, there was a point where Doge was equivalent in value to Bitcoin!
I believe 2018 is Doge’s time to shine and it is definitely going to head into Litecoin territory (possibly the tens of dollar range in 2o18). Essentially the Dogecoin client looks the same as Bitcoin’s and Litecoin’s. In terms of technology though Dogecoin is more like a derivative or little cousin of Litecoin in the sense they both use Scrypt technology.
This is a good thing because I’ve never had delays or issues with sending or receiving Litecoin or Dogecoin, whereas Bitcoin can be slow and Ethereum is a nightmare to use (it is the worst wallet/client/network I have ever used and I absolutely dread Ethereum).
I think amazing things are going to go down for Dogecoin holders, likely not as big as long-time Bitcoin holders but I think in the coming years, Dogecoin users will be handsomely rewarded as the value skyrockets.
Another reason Dogecoin is rising is because of research, awareness and it is also a plain good buy compared to a lot of other much more expensive altcoins I firmly believe Dogecoin is largely undervalued. Dogecoin is a long-time crypto whose stability has been tested and proven for years.
I’m bullish on Dogecoin so long as the developers keep working on and marketing this currency and if they cap the supply. I don’t think it will take much for Dogecoin to see meteoric rise so long as those conditions are met.