The reason Dogecoin could fail in the future

[Pam beasely]

Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.

Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.

Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.

Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?

[MAAManda]

Dogecoin will not be abandoned, it will always be remembered as one of the low cost coins and people will always use this coin for transactions. But to invest in this coin, I personally would not do it, because basically this coin doesn't have strong enough fundamentals and ecosystem, only relying on their community which continues to shill like for example what Elon Musk did some time ago. Do you think that Dogecoin will experience another fantastic price increase?

[bettercrypto]

    When I started here, the value of dogecoin was still very low, at that time its price value was playing from 20 staoshi to 30 satoshi, the price of Dogecoin was low but the community it established in cryptocurrency was great.

   After a few years Elon Musk noticed this and due to the strength of its influence it attracted many communities in this industry to buy dogecoin even Elon bought a huge amount which is the reason why dogecoin became 0.1$ or more .

So, I don't believe dogecoin will eventually fail, it's a huge big no for me, and I know it's different here for sure.

[yazher]

It will not totally fail because obviously Elon Musk the Billionaire is supporting and still promoting it, we might not trust him because of his nature as a businessman but we have certainty that it will gonna exist as long he is supporting it. In the future, there are varieties of changes and innovations regarding his company and it would depend if he still merges the use of Dogecoin with some of his company or if he continues to ignore the people's suggestions for Dogecoin, will be the very same reason for the investors to slowing to merge to another investment if they sense that Doge has no potential anymore.

[Questat]

Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.

Yes is the reason why I believe that Dogecoin will still be able to exist many years from now even despite the negativity we hear from this project. I understand the risk of investing in this project but looking at the market it is something that shows the stability of its position. It will die if nobody will use this but as long as many traders still using this coin, I have no doubts that it will stay and get support from the community.

[mu_enrico]

If the reason is outdated technology, any coins/blockchains with similar technology will also fail. Since Dogecoin et al is basically a tweaked Bitcoin (CMIIW), well the future of this industry is bad... So I don't think that will be the reason.

The reason Doge could fail is that it has no practical use a.k.a. it serves no purpose. It is reflected in Doge's tokenomics, like emission rate, etc.

[avikz]

If the technology behind a coin really mattered in the crypto space, bitcoin would have become a shitcoin by now and we were probably be using some random tokens today for the sake of better technology. That's not the case!

Dogecoin has a very strong supporter like Elon Musk and that's probably enough for Dogecoin to survive. Also if Elon starts accepting this coin in Twitter, its value may even skyrocket by few hundred percent.

[glendall]

even though the blockchain used by doge is outdated but it will not make doge abandoned by its fans, and i'm sure doge will always be there and will continue to be picked up by the platforms that carry it. not to mention Elon Musk who always surprises with his tweets on Twitter, this will make Doge always be there and continue to be sustainable in sales

[ryzaadit]

Even you have the latest tech, doesn't mean you're gonna be a success.

Did you even see a new coin who have faster-transaction with latest technology and still doing bad? even some of them is failed. The most part things from my perspective is the trust community, you see old coin "ETHEREUM, LITECOIN, BITCOIN, etc" they have the old tech.

Guess what? still strong until now.

[Bitcoin_Arena]

Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.

Well, at least it uses the PoW consensus mechanism which brings in much more decentralization to the network rather than the new breed of POS shitcoins that are very centralized and easily manipulated.

Look at a joke of a coin called BNB for example. I would choose DOGE over BNB, any time, any day.

[blockman]

It should have been abandoned long time ago but still hasn't. It's because it's a meme coin that everybody loves and Elon rode with it favorably on him.
But no matter how low it will go and there will be no Elon or any other influential people that encourages people to buy it. There will still the community that it has got years ago before the hype that will still use it.

[sheenshane]

I dont think that Dogecoin will fail in the future.
First of all, Dogecoin is one of those decentralized cryptos in the market that has good utility, it runs with a Proof-of-Work algorithm and anyone can earn Dogecoin through the mining process.

Second, Elon Musk holds 2.5 million of Dogecoin based on what heard, so I think that amount will still be there because as we can see this man loves Dogecoin.  So, therefore, there's no reason Dogecoin will collapse or becomes a failure in the future.

[o48o]

Their outdated technology doesn't scale well isn't their only problem. When it comes to elon hype, at some point he would stop supporting it because of PoW. That's why he suddenly denounced btc.
And like you said community is the key. From what i've seen their old welcoming happy people have turned into toxic place. Meme is only thing they have left and they are not playing it well.

This is somewhat understandable as this tribalism doesn't only concern doge, it has risen on every community. But that's one of the communities that doesn't benefit from it in any way. It should be about fun and being relaxed, but when people lose enough money they turn bitter.

[GreatArkansas]

Their outdated technology doesn't scale well but that's not their only problem. When it comes to elon hype, at some point he would stop supporting it because of PoW. That's why he suddenly denounced btc.
And like you said community is the key. From what i've seen their old welcoming happy people have turned into toxic place. Meme is only thing they have left and they are not playing it well.
(....)

We must remember that Dogecoin is created for a meme, and one of the founders of Dogecoin, just did it for about a couple of hours. So yeah, if people really concern about the scalability of Dogecoin, then you don't need Dogecoin for it.
Dogecoin came from Bitcoin, Dogecoin forked Bitcoin then it became Dogecoin, a meme coin.

[uneng]

I think dogecoin won't fail, because it has already become a classic of crypto universe. Classical coins don't die, because there will be always fans and enthusiasts supporting them. On the other hand, it shouldn't be expected dogecoin to go to the moon. It has its place in crypto market, of course, but it's not going to be one of the main cryptocurrencies among all. Elon Musk can shill for doge as he wishes, but after all, even he knows it is just a meme coin, as he knows it's not possible to make money by playing jokes all the time, otherwise he wouldn't be on the wealthy level he currently is.

[bittraffic]

Doge is widely used though. It may just be monopolized by Elon. Who knows how much this man got but pretty sure this coin is not going to fail as it could still be considered decentralized and not a security. It's been a top coin since the time Elon shills for it and more whales are also holding on to it. It would have failed back when its price was just less than a cent and only a few people are in the crypto market but Doge only growing every cycle.

[btc78]

If the reason is outdated technology, any coins/blockchains with similar technology will also fail. Since Dogecoin et al is basically a tweaked Bitcoin (CMIIW), well the future of this industry is bad... So I don't think that will be the reason.

The reason Doge could fail is that it has no practical use a.k.a. it serves no purpose. It is reflected in Doge's tokenomics, like emission rate, etc.

Same reason why I did not invest or played with this coin from day one though I once use this in gambling platform(as the fee is really low) but aside from that never that I deal with doge that deep.

though it has several bull for years yet this is not enough for me to fully trust the coin and the people behind this not mentioning that i hate meme coins.

[TravelMug]

That's why it is called Meme coin right?

It's just that when Elon Musk hype this coin then the price surges. But we all know that this is just a old coin and others like me uses it for our gambling  alternatives with Bitcoin fees are high.

So not sure why people still thinks that it is a good investment. We have been clearly manipulated by Elon Musk and other entities to buy this meme coin.

[Tommiewill]

If it weren't for Elon Musk, Dogecoin would have failed long ago.

[ice18]

Dogecoin gained its popularity because of Elon Musk who always talk about it in his millions of followers and because Doge is the first crypto meme created there are so many coins that are low cost and fast but not as popular as Doge today, I dont think it could fail in the future in terms of scalablity issues Doge is much better than Bitcoin.