This article was written 4/14/21 but at the time of publishing DOGE is currently at $0.34 .. Not investment advice. DYOR
So I had bought DOGE at $0.01 a few months back right before the very first big pump of this bull run and sold it a couple hours later for $0.02. I doubled my investment rather quickly and was pretty pleased with my timing… Giving myself a pat on the back, it quickly climbed to around $0.08 within a few days and I regretted selling so quickly. The hype was short-lived however and it fell back down to around 5 cents. Still, that was much more than I sold it for.
Everybody knows DOGE was made as a joke coin and its tokenomics are a bit fundamentally stunted, as well as having the rep for being a favorite choice for crypto pump and dumps, not to mention its rather uneven distribution among its holders.. but its continued rise defies saner logic..
With Elon Musk being an open supporter of it, along with a bunch of celebs like Snoop Dogg, Mark Cuban and others Dogin’ it up on social media, the fact that despite its seeming lack of utility, it actually does have more utility now since people are starting to be able to use it as a medium of exchange for goods and services in places like Pornhub for instance, and recently the Dallas Mavericks started to accept it for tickets and merchandise; this will undoubtedly paves the way for other businesses to follow suit; the fact that it is a top 10 crypto currency by market cap, and despite its reputation as being the very first of the “shitcoins” it would also still be considered one of the “OG Cryptos” as well.
The increasing adoption and mainstreamification of cryptocurrencies in general have shined a light on alt coins- that is, coins other than Bitcoin- and this has been especially true for DOGE; Making it one of the go-to crypto buys for noobs in the space, and especially since it is one of the few cryptocurrencies that is easily accessible to the largely non-crypto-trading masses, who are (sort of) able to buy it on Robinhood.. (Apparently they are working on a fix to their current crypto system by allowing deposits and withdrawals, but honestly who cares.)
A phenomenon has begun to form where DOGE is acting as a “gateway” crypto to the increasing number of cryptocurrency initiates. This intangible characteristic, which…
