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Dogecoin (DOGE) has been teetering to the brink with its current price $0.0019 and trading hovering around the $0.2 mark for the past few months. However, the popular cryptocurrency has proven over the years of recovering from bearish markets.
This brings us to the conundrum faced by some crypto investors as regard’s hodling the coin in 2018.
Dogecoin (DOGE) Is One of The Oldest Crypto in Circulation
The coin was created after a meme in 2013 making it one of the oldest coin and is among the top cryptos in circulation. It also ranks 24th in terms of Market cap which is remarkable considering the lack of interest in the digitoken by many in recent years.
Since the departure of its founder Jackon Palmer, the Dogecoin (DOGE) has lacked direction, which has led to several predictions of its demise. Despite this, Dogecoin has a remarkable loyal user base despite the lack of any significant updates in recent years.
The coin is also a sure bet in terms of longevity and has outlived several ICOs that have launched since its inception which shows that it is unlikely to go burst anytime soon.
Dogecoin had more daily addresses than all other cryptos except Bitcoin and Ethereum in December 2018 which suggests that the coin still has active users.
Dogecoin (DOGE) Has Shown Lack of Development in Recent Years
However, from an investment point, Dogecoin is not an attractive coin to hodl. One of the key aspects which investors look out before investing is the prospects for developments. Dogecoin has not witnessed any significant update to its technology since 2015.
The development team has not made any significant announcements in recent years and it looks like the coin’s development has stagnated.
Furthermore, Dogecoin, unlike Bitcoin, has a high inflation rate and has an uncapped coin supply. This uncontrolled supply leads to inflation which can see the value of the coin reduce rapidly. Thus not a good representation from an investment point of view.
Dogecoin (DOGE) is quite stable in the market, with rise from time to time due to market forces. It is relatively cheap to acquire and is accepted by a number of small businesses. If you want a coin that is ideal for tipping communities, Dogecoin is the perfect coin.
If you are into cryptocurrency as a means of investment, Dogecoin (DOGE) is a great choice for you. Even though the altcoin churned out little or no development in recent time, it has been able to maintain a stable anchor in the space, giving the altcoin great potential.
Also, the fact that Dogecoin (DOGE), aside Bitcoin and Ethereum had the highest daily address in December 2018, is sure a feather on the cap of the altcoin. Though no one know tomorrow, but Dogecoin (DOGE) might be amongst the best in rainy season.
A penny for your thought.