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Dogecoin Future: Is this Crypto Worth Investing in?

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Dogecoin

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.

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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