I have always been convinced that dogecoins and other meme coins are dangerous for this market. Maybe they attract new investors and made some people rich, but actually they don't carry any real utility for crypto market, so they are likely to die and many people get disappointed in meme coins and crypto because they lose on meme coins so they abandoned this market then.
Dogecoin has never shown any good potentials that may attract investors until Elon Musk started to hyped it. It was only then that a lot of investors never miss the chance of investing in dogecoin because of its own value that create a continuous surge. But in reality, there is no real utility case that will keep its investors wanting it. Its only the price that made most of the investors end up panic buying because they really believe that if Elon will keep on tweeting dogecoin, then its value will definitely reach an all time high. 
Topic: Why Dogecoin Is Crypto's Most Dangerous Joke - page 4. (Read 565 times)
I have always been convinced that dogecoins and other meme coins are dangerous for this market. Maybe they attract new investors and made some people rich, but actually they don't carry any real utility for crypto market, so they are likely to die and many people get disappointed in meme coins and crypto because they lose on meme coins so they abandoned this market then.
Dogecoin has never shown any good potentials that may attract investors until Elon Musk started to hyped it. It was only then that a lot of investors never miss the chance of investing in dogecoin because of its own value that create a continuous surge. But in reality, there is no real utility case that will keep its investors wanting it. Its only the price that made most of the investors end up panic buying because they really believe that if Elon will keep on tweeting dogecoin, then its value will definitely reach an all time high. 
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
Yes, thats totally true.
Dogecoin shows how confused the market is.
Litecoin should be in place of Dogecoin.
Dogecoin is more worth than Litecoin, Litecoin Cash and Bitcoin Cash.
People value a meme more than a real investment.
-
Nakarato
Meme coin which itself shows the purpose of the coin but still people consider it as one of the best cryptocurrency.
I agree with all of the major points put forward by the OP:
Personally I don't know anyone who has used Dogecoin as a mode of payment. On the other hand, I know people who have made payments with BTC, BCH, ETH, USDT, ADA, BNB, ETC, XMR and XLM. But not even once I heard of anyone making payments using DOGE. And I have been using cryptocurrency for more than 7 years. I am yet to come across any online store, that accept Doge as a mode of payment. The current valuation doesn't make any sense, and IMO it represents an overvaluation of 1,000x.
Quote
1. Almost no one's using Dogecoin, but the currency still undergoes huge swings.
2. A very small group of large holders have outsized influence over Dogecoin's price.
3. Investors who buy in chasing monster gains may come to regret it.
2. A very small group of large holders have outsized influence over Dogecoin's price.
3. Investors who buy in chasing monster gains may come to regret it.
Personally I don't know anyone who has used Dogecoin as a mode of payment. On the other hand, I know people who have made payments with BTC, BCH, ETH, USDT, ADA, BNB, ETC, XMR and XLM. But not even once I heard of anyone making payments using DOGE. And I have been using cryptocurrency for more than 7 years. I am yet to come across any online store, that accept Doge as a mode of payment. The current valuation doesn't make any sense, and IMO it represents an overvaluation of 1,000x.
I have always been convinced that dogecoins and other meme coins are dangerous for this market. Maybe they attract new investors and made some people rich, but actually they don't carry any real utility for crypto market, so they are likely to die and many people get disappointed in meme coins and crypto because they lose on meme coins so they abandoned this market then.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
The article presented a lot of bad facts about Dogecoin that those who are interested to invest or still holding Dogecoin to read it and think if Dogecoin is still worth investing,
These two are alarming
Quote
Whales control the blockchain
Dogecoin has one of the most lopsided wealth distributions in the crypto space, with just one address accounting for 28% of all Dogecoins. A mere eleven addresses hold 46% of the circulating coins, while just 82 addresses account for over 64% of the total supply.
Hardly anybody uses Dogecoin
The Dogecoin blockchain recorded just over 23,000 daily transactions on Aug. 9, according to the latest available data. That's a mere fraction of the 1.2 million transactions recorded on Ethereum (CRYPTO: ETH), and the roughly 200,000 recorded on Bitcoin (CRYPTO: BTC).
Dogecoin has one of the most lopsided wealth distributions in the crypto space, with just one address accounting for 28% of all Dogecoins. A mere eleven addresses hold 46% of the circulating coins, while just 82 addresses account for over 64% of the total supply.
Hardly anybody uses Dogecoin
The Dogecoin blockchain recorded just over 23,000 daily transactions on Aug. 9, according to the latest available data. That's a mere fraction of the 1.2 million transactions recorded on Ethereum (CRYPTO: ETH), and the roughly 200,000 recorded on Bitcoin (CRYPTO: BTC).
Based on this fact Dogecoin is a shitcoin that will not die because it's back by one of the popular influencers in the investment field, and small investors should know what they are getting into when investing on Dogecoin.
Do you agree with what it says?
I do and the fact that if there was an address that was even holding 8 billions worth of doge coins https://bitinfocharts.com/top-100-richest-dogecoin-addresses.htmlSo many coins were getting controlled by the whales and when they will be dumping some of their bags to the market and this will create another fear to the market and potentially to dump the price of doge coin back to the old price again before the whales were pumping the doge coin. The data was telling the truth and i can't deny what already explained from the article.
At least if doge coin has utility usage and this maybe a bit better than didn't have any utility usecase.
I have heard about similar article in the past.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
Yes, thats totally true.
Dogecoin shows how confused the market is.
Litecoin should be in place of Dogecoin.
Dogecoin is more worth than Litecoin, Litecoin Cash and Bitcoin Cash.
People value a meme more than a real investment.
-
Nakarato
Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price
Coins like Dogecoin and other meme coins are only good for short term investment, meaning know when to get in and know when to get out, this coins are based only on FOMO and yes they are faster way of making money only with exact amount of money you are ready to lose, meme coins and doge coin have no real use cases but Elon musk can make something good out of doge coin, he has the power to but still I don't wanna keep any for a long term 
We know that a lot of the dogecoin supply is controlled by a few whales.
Yes, this true and not just for Dodgecoin, and it makes me nervous. However, given the next to no utility for DOGE to me it is still a joke coin, no matter how much social figures like Elon Musk tweet about it.Because of its very nature of being volatile from the push of a tweet button, to me DOGE is a dangerous coin. Remember what happened to BTC when Tesla tweeted about not accepting it as payment? Unlike DODGE, BTC is not supported by a few but MANY and so the consequences for DODGE when (and if) the wheels turn could be devastating.
We know that a lot of the dogecoin supply is controlled by a few whales.
Yes, this true and not just for Dodgecoin, and it makes me nervous. However, given the next to no utility for DOGE to me it is still a joke coin, no matter how much social figures like Elon Musk tweet about it.Because of its very nature of being volatile from the push of a tweet button, to me DOGE is a dangerous coin. Remember what happened to BTC when Tesla tweeted about not accepting it as payment? Unlike DODGE, BTC is not supported by a few but MANY and so the consequences for DODGE when (and if) the wheels turn could be devastating.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
I don't have time reading long posts such as that but one thing I know why it's dangerous is it is because there's no way we can use it somewhere even Elon Musk can't answer what Dogecoin is in one of his interview. Yes the price keeps increasing but you are buying coin that you can't do anything about.
The beginning of Dogecoin was made just for fun and not to be taken seriously, but the trend created by ELon caused Dogecoin to go up, this makes the risk of those who follow the Doge trend even greater, especially if they have too high expectations to achieve the new ATH that is predicted will reach $1, but as a result a lot of people lose their money, instead of making a profit, they are just wondering how they can get out at the highest price they have missed.
because I think at first Dogecoin was created just for fun and there is no purpose of this Dogecoin but I will say it's possible because dogecoin was created as a meme coin and became popular ever since famous people like elon musk tweeted about doge and of course this is dangerous for those who just follow the coin trend and they are too fomo with the promise of New ATH 1$ and get stuck at that high price.
I agree with the article. Investing in a meme coin is very risky, the beginning of this coin is just a joke. With an unlimited supply, making this a problem because supply and demand is a fundamental factor of a healthy market.
Yes indeed it's long, I think you should try to give at least brief explanation about that article. Well I think Elon Musk and the founder of Ethereum are working together to improve Dogecoin and to expand the project more, I really think the Dogecoin is started to gets serious with its business I'm starting to load some Dogecoin, we're not sure what will happen in the future.
I do agree with some points that already explained by that article
1. So many big players dominated doge coin and you can see the coin distribution of doge coin. there was a wallet that was holding billion of doge coin.
2. This coin has no utility usage or the tx record on its blockchain was still low compared how big the marketcap that already achieved.
3. Infinite supply that will be harming the hodlers. The miners will always be throwing their coins to the market as soon as they have mined it.
I personally feel skeptical about this coin. Too much hype but it can't go along with the utility usage of coin. People were using this coin was not as a joke coin but as a speculative asset only.
1. So many big players dominated doge coin and you can see the coin distribution of doge coin. there was a wallet that was holding billion of doge coin.
2. This coin has no utility usage or the tx record on its blockchain was still low compared how big the marketcap that already achieved.
3. Infinite supply that will be harming the hodlers. The miners will always be throwing their coins to the market as soon as they have mined it.
I personally feel skeptical about this coin. Too much hype but it can't go along with the utility usage of coin. People were using this coin was not as a joke coin but as a speculative asset only.
TLDR, stop investing in meme coins and invest in projects that will change the world, like XRP, LINK, NEAR, and Celo.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
maybe it happened but the worst meme joke for dogecoin has been going on for a long time but he's survived quite a bit so far and this won't be affected forever.
This article is very long.
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
https://www.fool.com/investing/2021/08/24/why-dogecoin-is-cryptos-most-dangerous-joke/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Do you agree with what it says?
I totally agree with this statement, dogecoin was only popularized by Elon Musk and his friends, there is no good long term for dogecoin, we can see this from the movement in the market and the soaring price of dogecoin at that time did not last long.
Then how can Dogecoin be used as a long-term investment, if the market is like this and the price of Dogecoin keeps dropping all the time, almost no one even uses the Dogecoin blockchain at this time, that's why I think Dogecoin is not a good decision to make long-term investments.
Jump to: