What makes Dogecoin different?
I’m new to the altcoin investing world and I’ve been watching in amazement of how fast the cryptocurrency world has been increasing in value and popularity. If you’re new to cryptocurrency there is still plenty of time to be a profitable investor. Crypto isn’t mainstream yet. But it will be.
Why is cryptocurrency interest increasing so much? Because our dollar value is falling. One can argue for or against our current level of federal spending. But the sheer amount of Federal Spending, which is the largest amount on an inflation adjusted level since World War Two, is devaluing the dollar. Everyone who knows this is searching for a safe place to invest. That’s why the stock market is so high, the price of gold and other commodities have been increasing, and why crypto is seeing so much attention.
In the world of cryptocurrency there are a few major players, such as bitcoin, where for small time investors, the moment has clearly passed. There’s simply no way I can afford to buy a single bitcoin at 50K or more. Institutional investors have been buying bitcoin for several months now. It might be too late to buy bitcoin, at least for me.
But there is a huge amount of what is called “altcoins”. And those are simply coins which aren’t at the level of bitcoin. The question becomes which altcoin will you invest in. Yes, crypto is an investment.
For my investment in cryptocurrency, I’m choosing the altcoin known as Dogecoin.
Why Dogecoin and what makes it different from every other coin? Just one thing. The growing Dogecoin “army”. Dogecoin is more than just a coin, more than just another crypto.
Dogecoin is a movement.
You can see Dogecoin “memes” just on almost every social media network, from Twitter to Facebook to LinkedIn and beyond. Like it or not, memes helped get our former president elected, and then unelected. Memes are shared wildly, and they do influence our decisions.
You really don’t hear prominent business leaders, such as Mark Cuban or Elon Musk talking about crypto, except of course when they mention bitcoin along with Dogecoin. And they aren’t the only ones. Celebrities including Gene Simmons, Snoop dog, Mia Khalifa, and many others are talking about and investing in Doge. Dogecoin is getting massive coverage from the press, even outside of financial news stories. Additionally, I’ve yet to see any other altcoin have hundreds of thousands of signatures asking Amazon and other businesses to accept bitcoin as payment. And along that note, there are many more business who are now accepting Dogecoin (among other cryptocurrencies) as a method of payment. Dogecoin is different because it is the only coin that has a movement behind it.
Dogecoin will be one of the few coins that will go mainstream along with bitcoin. The time for Dogecoin is now, and the time to invest is now, while the price for each coin is measured by pennies, and not dollars. We will be living in a future with both fiat currencies as well as crypto currencies. I’m a proud member of the Dogecoin army.
Disclaimer: I’m not an investment professional and no part of this article should be taken as advice. These are my opinions only. Seek the advice of a professional financial advisor before any investing.
Photo by Anna Shvets from Pexels
