{"id":11852,"date":"2022-11-13T22:12:00","date_gmt":"2022-11-13T19:12:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=11852"},"modified":"2024-02-19T21:50:11","modified_gmt":"2024-02-19T18:50:11","slug":"is-dogecoin-good-investment-price-predictions","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/cs\/2022\/11\/13\/is-dogecoin-good-investment-price-predictions\/","title":{"rendered":"Je Dogecoin (DOGE) dobr\u00e1 investice? + Cenov\u00e9 predikce"},"content":{"rendered":"

The blunt answer here, likely, should be no, period. Dogecoin (DOGE) was born as a joke among cryptocurrencies, and not as a proper investment. Of course, there\u2019s a giant \u201cbut\u201d here. Currently, DOGE is the first and most successful memecoin.<\/strong> It flaunts a market cap of over $11 billion (even in a bearish market), and a price of $0.08 per token \u2014considering its large supply. So, why are people putting money here?<\/p>\n\n\n\n

As we must remember, Dogecoin byla spu\u0161t\u011bna<\/a> in 2013 by Jackson Palmer and Billy Markus. It\u2019s survived wild things in crypto, and is still here, stronger than ever. Its community remains firm and growing, while new plans are in the works. Can really DOGE go to the moon?<\/p>\n\n\n\n

Internal system and developers<\/strong><\/h2>\n\n\n\n
\"Dogecoin-logo-investment-price\"
Dogecoin logo<\/figcaption><\/figure><\/div>\n\n\n\n

DOGE is a fork (kind of a clone) from the now-defunct Luckycoin (LKY) and the silver of cryptocurrencies, Litecoin<\/a> (LTC). Therefore, it works with a Proof-of-Work (PoW) system, very much like Bitcoin<\/strong>. It\u2019s possible to mine Dogecoin<\/a> using ASIC machines, and mine it at the same time that other coins with the same algorithm (PoW Scrypt), such as Litecoin. The mining reward per block is 10,000 DOGEs (around $840).<\/p>\n\n\n\n

However, the difficulty has grown too much over the years, as more and more miners join the network<\/a>. Thus, Dogecoin isn\u2019t a profitable investment to make solo mining or avoid using ASICs anymore. The miners should join a pool, or build whole mining farms with numerous machines. Energy is another point to consider. Since it\u2019s a PoW coin, its mining<\/a> will consume a lot of electricity. It\u2019s important, then, to have cheap electricity and, preferably, from renewable sources<\/a>.<\/p>\n\n\n\n

K datu, Dogecoin has a circulating supply of 132.67 billion coins<\/strong>, and it\u2019s expecting to issue five billion coins more every year. As its team explained on the ofici\u00e1ln\u00ed webov\u00e9 str\u00e1nky<\/a>, the supply isn\u2019t really unlimited: \u201cDogecoin is only \u2018infinite\u2019 over \u2018infinite time\u2019. Over finite time, its issuance is, in fact, finite.\u201d Besides, the team isn\u2019t considering burning supply \u201cto artificially inflate their prices.\u201d<\/p>\n\n\n\n

\"Dogecoin-investment-prices-coins\"<\/figure><\/div>\n\n\n\n

Now, after some years without updates, the development team regrouped in 2021. According to the website<\/a>, \u201cthe Dogecoin development team has consisted of a small group of maintainers coordinating the work of more than 40 contributors\u201d. In addition, we can find 272 contributors in the Dogecoin Core<\/a> repository on GitHub.<\/p>\n\n\n\n

Adoption and supporters<\/strong><\/h2>\n\n\n\n

Besides an investment, Dogecoin can be a user-friendly, cheap, and international payment method. Its transaction fees haven\u2019t ever surpassed its record of $8.2 in March 2022, which is an amount far lower than in other coins, like BTC or ETH<\/a>. And it\u2019s even lower since the average transaction fee is at $0.1 now \u2014a usual mark [Messari<\/a>]. As a result, we can find over 2,058 merchants worldwide accepting DOGE as a payment method<\/strong> [Cryptwerk<\/a>].<\/p>\n\n\n\n

\"Dogecoin-merchants-category-Cryptwerk\"
Dogecoin merchants by category and country. By Cryptwerk<\/figcaption><\/figure><\/div>\n\n\n\n

Among the brands and companies accepting this coin<\/a> for products and services, we have the NBA basketball team Dallas Mavericks, the European airline AirBaltic, the electronics online retailer Newegg, AMC Theaters, the luxury resorts by Kessler Collection, the electric car manufacturer Tesla<\/a>, and GameStop (after an intense story<\/a> around this currency).<\/p>\n\n\n\n

Additionally, as registered by Coin ATM Radar<\/a>, there are over 14,000 ATMs worldwide to buy and sell DOGE in exchange for fiat. Most of them are in the United States, though, with another large percentage across Europe. In the same fashion, Dogecoin has been listed<\/a> by over 120 crypto exchanges worldwide, including Alfacash.<\/strong><\/p>\n\n\n\n

Beyond the numbers, in August 2021, the previously dissolved Dogecoin Foundation revived<\/a> with new members. They even count on the participation of Vitalik Buterin (Ethereum founder), and Jared Birchall, who\u2019s on behalf of Elon Musk<\/a> (CEO of Tesla and SpaceX). Musk has been, indeed, a strong supporter of Dogecoin over the years. We can say this is his favorite cryptocurrency.<\/p>\n\n\n\n

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Je to nevyhnuteln\u00e9 pic.twitter.com\/eBKnQm6QyF<\/a><\/p>- Elon Musk (@elonmusk) 18. \u010dervence 2020<\/a><\/blockquote>