2 min read

Is Dogecoin hype real and really worth it?

Dogecoin is driven by hype and has all the hallmarks of a classic pump-and-dump scheme. This massive bubble is definitely going to burst and its hyped valuation will also come down.
Is Dogecoin hype real and really worth it?

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect.

Fueled by Elon Musk's continuous support for it over Twitter, Dogecoin has risen over 22,000% over the trailing 12 months and has been arguably the best-performing asset on the planet. The self-proclaimed "Dogefather" also recently announced that he would work with Dogecoin's developers to improve transaction efficiency.

Source- https://i.gadgets360cdn.com/large/dogecoin_bloomberg_1613366194851.jpg?downsize=950:*&output-quality=80

But only 1300 business worldwide accept Dogecoin as method of payment and Dogecoin has averaged 50,000 transactions daily over the past 12 months which equates to a microscopic 0.004947% of all global daily transactions.

Still at close to $0.56 per coin, Dogecoin has a market value of a little over $72 billion. So is the hype real? and really worth it?

Read More.....

700 Million Reasons the Dogecoin Bubble Will Burst | The Motley Fool
This hype-buoyed cryptocurrency is a house of cards that’s teetering on disaster.
Source- https://www.fool.com/investing/2021/05/20/700-million-reasons-the-dogecoin-bubble-will-burst/

#Dogecoin #ElonMusk #Crypto #Cryptocurrency #Probyto #ProbytoAI

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