I see a large amount of sell orders for DogeCoin, and from the looks of the Bear charts, DogeCoin looks like a dying currency. If I was looking for a "long-term" currency, DogeCoin is the one I would avoid...?
Interested to hear the community's thoughts on this?
People are buying and selling a lot of doge, because this coin is really used a lot by people to buy goods online or to gamble, at least. Dogecoin is old, fast, cheap and secure. It is a good coin in general as means of payment. However, it doesn't make it a good investment option, because at the same time there's nothing innovative and the dev team is simply gone, the coin is probably not going to face any changes. The price is falling with time due to it being very inflatious, whereas most of cryptocurrencies have limited supply.