On the beautiful Sunday afternoon, the price of Dogecoin spiked to $0.087, sparked from the supportive tweets from the likes of Elon Musk, Snoop Dogg, and Gene Simmons of KISS. Due to this sudden rise in the upliftment of Dogecoin ( crypto based on a popular meme), most of the investors started dreaming of buying the latest model of Ferrari they would buy when Dogecoin hit $1000.
Dogecoin hype is not going off the investors’ minds anytime soon. But don’t make any irrational mistake. Always keep in mind that not all cryptos are the same. If you really want to take advantage of crypto hype at the moment, better start saving and investing in Bitcoin.
The story of bitcoin has been different. Some say it was due to the timing, others believe it was due to its decentralized nature. While numerous other cryptocurrencies have followed the path blazed by Bitcoin, none have come close to its notoriety and adoption. Like Dogecoin, smaller currencies may go through dramatic pump and dump cycles that generate buzz, but buzz does not a currency make.
I’m a firm believer that cryptocurrency represents the future of the post-nationalist world. Finally free of the intervention and manipulation of central banks, decentralized finance will likely usher in a new level playing field for everyone. Evolution, however, isn’t always a tidy process. The growing pains can be as wild as they are gruesome. Like many other alternative cryptos, Dogecoin may very well be seen as an evolutionary aberration in the years to come. In the meantime, my advice is to stick with the established currencies and ride the Bitcoin wave into the future.
A Delhi University graduate, paving her way in the world of writing. An optimist, creative, and go-getter. Loves to read, research, and write about different topics in technology or cryptocurrency, and serve them to the readers in the most meaningful way possible.