When it comes to Doge, I have a sort of love-hate relationship. On one hand, I kind of hate DOGE because I let it go too soon back in late 2019 when I owned close to 600,000 coins. Out of naivety and lack of boldness, I traded them all for other shitcoins. But on the other hand, I love it...
DOGE is the meme of all memes in the crypto space, but it's not actually quite the joke as some take it to be, and I have a few reasons backing this statement. First and foremost, DOGE is "pretty decentralized." I mean, Ripple is a bigger shitcoin than DOGE, and on top of that, DOGE has insanely low transaction fees and quite good transfer speed.
The flying doggo rivals Hive in terms of transfer speeds, but it's not actually free of charge. However, you can't compare the fees on the Dogecoin chain with the ones of the Ethereum blockchain, for example, or even Bitcoin.
DOGE had an insane rally back in 2021, a rally that left many of us with our mouths open when Elon Musk shared "that tweet," calling himself the Dogelord and saying that the DOGE standard will take over the financial system. The price of one DOGE has cooled down a lot from its $0.7 ATH, but it is still way higher than the level it was at ($0.002) back in 2019 when I dumped it.
Every bull market has its hyped tokens that have the potential of making some of us millionaires, and the current bull market is no exception. What's going to be the next DOGE (doing a 350X bottom to peak)? Well, what if it's DOGE again? What if Dogecoin is not dead...
Let's see why Dogecoin has a good chance of growing big time once again... So, what is Dogecoin? It is a hardfork of a chain called Luckycoin, which is a fork of Litecoin, which is a fork of Bitcoin. Thus, we can say that Dogecoin has a bit of "Bitcoin pedigree" in itself.
Dogecoin, as stated in the introduction, is a decentralized blockchain with a current inflation rate of about 3% and a bit over 140 billion coins in circulation. Some say that a large chunk of the whole supply is in the hands of one wallet and that the large whale holding such a big portion of the supply might be Elon Musk.
We don't have any confirmation yet on this matter, but what we know for sure is that Jackson Palmer, one of the co-founders of Dogecoin, dumped all of his coins a long time ago and was, at some point, advising people not to buy it... Bad move and bad word of advice, as DOGE has proved to be quite a performer.
Lately, Elon Musk changed the name of Twitter into X, which, in my opinion, is inspired by one of his early companies named X.com. If you go and check Elon Musk's Twitter profile, you're going to see that under the location section, he has XD filled, which might come from "love for DOGE" or "X(Twitter) Doge," which could point out to something big.
A few days ago, Musk announced that Twitter becoming X is not just a company name rebrand. When he made such a move, he had some big plans for the bluebird app. According to his claims, X(Twitter) aims at disrupting the financial system in a way that's not traditional at all.
He tells us that he's not planning on taking over something like half of the global financial system by doing what's already done, but by creating a new one. If he plans on embedding Dogecoin in what the X app aims at becoming (something way bigger than what Twitter ever was), then we should expect DOGE entering the two-digit price mark.
If Musk plans on making Twitter the everything app where content creators can earn revenue from ads, where users can send funds across the globe almost instantly, communicate as they do on every other social media app without the burdens of censorship, and be part of a new economy, and if DOGE is going to be an integral part of all of that, then the meme coin will find its use case, and we could expect trillions of market cap pouring into it.
All of this might be nothing more than suppositions and "wet dreaming," but what is certain in this world anymore, and who said one should not imagine or envision a future where cryptocurrencies will have real-life use cases and utility? Not financial advice, but owning some DOGE would not be a bad idea in case "it catches on." What do you think?
Thanks for your attention,
