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Dogecoin Future: Is this Crypto Worth Investing in?

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Dogecoin
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Ever since the creation of Bitcoin (BTC), cryptocurrencies have been growing in number, and this has continued to this day. A lot of them came as a part of a serious campaign that aimed to top BTC and become a successful alternative as soon as possible. Among these currencies, there also came to be one with a lot lighter point of view, which might be just the thing that allowed it to remain alive to this day. Of course, we are talking about Dogecoin (DOGE).

What is Dogecoin?

If you are new to the world of cryptos, you might not be familiar with Dogecoin just yet. After all, the crypto has been experiencing a pretty passive period lately, but it is still out there, hanging on and refusing to surrender.

Obviously, Dogecoin is a cryptocurrency. It was created in 2013 by Jackson Palmer, and the rumors are true, the crypto was indeed created as a joke. It started as a suggestion that received an unexpected amount of support, so Palmer decided to just make it for the fun of it. What neither he nor anyone else, have expected is that this joke currency will actually achieve this level of success.

The reason for this is that Dogecoin was fun and light, when all the other currencies were serious, with big issues, and were putting in a lot of effort just to stay alive. DOGE was simply there for the fun of it, created from an internet meme that was popular at the time, and really just enjoying itself. It became an interesting crypto that was easy to use, and cheap to buy. The community quickly found a way to use it for tipping purposes, instead of simply liking or upvoting comments and posts.

About DOGE

DOGE is an interesting coin in several aspects, actually. It is, essentially, one of Litecoin’s (LTC) forks, but it decided to go its own way and change multiple parameters. It has a block time of 1 minute, for example, while Litecoin’s is 2.5 minutes. Apart from that, its coin supply is basically unlimited, as well as uncapped.

Apart from that, it has a pretty well-developed community, although it appears that more and more people are losing interest in the coin. Threads dedicated to this crypto are still active on places like Twitter and Reddit, but a lot less on BitcoinTalk Forum, which once served as an official channel of communication. DOGE’s community also had a decent presence on GitHub, but it has been around three years since the last update there.

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Problems regarding Dogecoin

Dogecoin’s community seems to be losing their interest in this coin, and it might be for several reasons. The first one might be Jackson Palmer’s decision to abandon the project. This is not necessarily a bad thing, and crypto can survive with ease even without its creator’s support. Bitcoin is the living proof of that. However, Palmer did not only take away his support when he left but also DOGE’s direction and perhaps even purpose.

Next, DOGE is suffering from a continued inflation, which is not good for its investors. Investors are after the money, and those who cannot receive a good return on their investments usually won’t bother investing at all. Finally, the coin’s developers haven’t exactly been busy all these years. There has been no progress, update, new project, or anything alike for the last two years, which is a lot in the world of cryptos. Just look at other ones like Ripple (XVG) or TRON (TRX) who are making partnerships, products and alike nearly every week.

Dogecoin’s potential investors should not take this the wrong way, though. The coin is not dead, and it still has a pretty strong presence. Its current price according to CoinMarketCap is at around $0.003430, and it holds the 46th rank. However, DOGE is not the crypto that will make you rich anytime soon. The community is there, still alive, and still using and supporting the coin. And who knows, perhaps the future holds a big plot twist for this currency.

The decision whether or not to invest in it is up to the investors themselves. They do, however, need to have all the facts before doing it, though. The coin is fun, easy to use, and has potential. What it lacks is strong leadership and a project that would make its development team busy.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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