Dogecoin power comes from strong doge-community.
Strange to say, I even imagine they might found a doge-country and make dogecoin as their national currency.
It's a coin with no future of which started as a novelty backed by hype, whales (looking to get rich), and sensationalist news.
As a result, it's a community of bagholders with no future, nothing more. It's going because the bagholders refuse to admit the inevitable.
You can learn more about Doge/Doge's reason for "success" (Applicable to other shitcoins) here:
https://www.dropbox.com/s/1ur3o01yag8bcmb/god.pdf?dl=0A small quote from this document:
While dogecoin hits 50-70 satoshis, the truth is, I did not owned 10 billion
doge, but rather a mere total of 4 billion. The amount of holdings I had were
overstated so as to aid me and mask by exit strategy in the near future.
Now, came the part of Jamaican bobsled team. It was a perfect time for
other whales and myself. We signal through buy/sell walls that we are ready
to move. It was a test pump. We wanted to see if the dogecoin community
were gullible enough to think that it was the Jamaican bobsled publicity that
have drove dogecoin prices up. The bobsled team brought value and publicity
to dogecoin, but people are always confuse with prices and value.
The only reason i'd touch doge would be to throw wealth away -- or if i was a particularly skilled daytrader with influential whales to pull strings. Much like the guy who wrote the above PDF. In fact this is probably the only reason why Doge still goes on.
