Doge coin is one of the popular alt coin . One can find it almost in every gambling websites , but what has happened to it ? it just continues to drop down day by day and now it almost 24sat. Is it a good investment or the coin is going to die?
What is happening to the coin is exactly what should have happened to the coin the week/month it was created. It's creator (Billy Markus) made Dogecoin as a joke (I guess the joke is on you).
It was never supposed to be a legitimate cryptocurrency. In fact, it's founder just recently claimed the whole cryptocurrency world is a scam.
There is also 111 billion dogecoins in circulation, so naturally inflation is a problem. When you have 111 billion of something useless, it's bound to eventually be worth nothing.
But I am of course, bias, as I have always thought Dogecoin was a complete waste of time. So take what I say with a grain of salt.
You're free to think whatever you want. But from those "news/statements" I see bullshit. You know why? simply bc if he is telling the
truth, then crypto is done.
Should I sell my cryptos? I think not.
People like to talk about "coins's purpose". Guess what. Coins have no purpose, neither technology. Humans do.
I'm not sure where the bullshit is ... Jackson Palmer (co-creator & "brain" behind the stupidness of Dogecoin) is one of the most outspoken anti-crypto people in the world. Here is an article from NY Times regarding his views on crypto:
https://www.nytimes.com/2017/09/15/business/cryptocurrency-bubble-doge.htmlHe may be wrong, but he said all the things in the article -- And it appears he is "telling the truth" (his legitimate perceptions).
I didn't bring up the creators of Dogecoin to doom and gloom the crypto world -- I brought him/them up to portray how ridiculous they are and to offer a suggestion as to why a crypto that was made as a joke based upon a meme has no legitimate future. Simply put, Doge has no future, because it wasn't ever intended to have a past or a future. It's like me coming up with a clever "why did the chicken cross the road..." joke and marketing it as a crypto. The concept makes no sense and it's completely absurd.
But you are correct in one thing you said ... I am free to think whatever I want. And I think Dogecoin is about as ridiculous and pointless as it was intended to be.
Good luck with your investments.