The reason Dogecoin could fail in the future

[jrrsparkles]

Actually it doesn't have any goal to achieve, the creator of the project sold it a long before so its a coin take over by influence and manage to survive for years so in future we don't know what's the status of Elon Musk regarding Dogecoin so its good for short term and no coin other than bitcoin looks safe when it comes to very long term holding.

[1715587957]

1715587957

[tvplus006]

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

In this case, it is unclear how Doge existed before, until Elon Musk paid attention to it. Of course, having such a patron as Elon Musk would be good for any project, but this is not a decisive factor in the existence of the coin. So in any case, the Dogecoin community is more important than the patronage of Elon Musk.

[Paul Pogba]

As we know meme coins like Doge coin or others rely heavily on the community, functionally they are not very effective, different from projects like NFT, Defi or others which can be profitable, as long as the community is still loyal then Doge or meme coins are still profitable.

[Yatsan]

All memecoins are purely depending on demand and no other factor such as utility, would save it from a market crash. This should be enough to explain why investing into these type of tokens, is risky. Its market price is more likely to be manipulated by whales; if there is a 'thick' order then small investors would follow, creating a wave and boosting its price just like what happened before. But the moment huge investors take profit, those who would buy at 'peak' would be squeezed in the middle.

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

In this case, it is unclear how Doge existed before, until Elon Musk paid attention to it. Of course, having such a patron as Elon Musk would be good for any project, but this is not a decisive factor in the existence of the coin. So in any case, the Dogecoin community is more important than the patronage of Elon Musk.

Quite unfortunate realitt for this industry. Even if there will be nothing from a certain coin, popularity would be enough to make it lively in the market. What's unfortunate is that, good token projects are being disregarded from choosing these memecoins.

[redsun114]

I have tos ay it should have never been at 70 cents levels, I had tens of thousands of it at times, literally over 100k+ at peak, and I never even considered it as a big thing, if I kept it, it would have been over 50k+ at peak times, close to 100k for sure, and that could be the reason why I am biased against dogecoin.

However, at the same time I have to say that nobody believed it could be 70 cents neither, it was always something that was used for fun and not for serious investment reasons. Last year for some reason people started to invest for troll purposes, if you buy it goes up right? Then it got a media attention and all that and suddenly it skyrocketed, out of nowhere, for no good reason.

[Heulahee]

I think the coin would be going huge in the future due to Elon Musk being behind it. As well as, I can also say that, Dogecoin was better in the past, now due to the market condition, It lost what it achieved, but I think in future the dogecoin will go far better than our thoughts, the only reason will be Elon Musk.

[sulendra12]

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.

Because Dogecoin was made after the meme of Doge so it does make sense Dogecoin still gains so much popularity in early days even before Elon Musk's tweets

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.

Most of the investors and traders that trade Dogecoin don't even care about the Dogecoin technology and they just merely invest into this coin just for the profit and the value. So the outdated technology isn't gonna bother most of the traders out there where they probably just know about Dogecoin because it's cheap and popular among the traders.

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.

If it's a prediction then it has a chance to fails. But who knows, what would happened next. Maybe Elon Musk would tweet something just to attract more attentions about cryptocurrency. Who knows.

[BobK71]

Every trader or businessman tries to earn big amount of money through some new strategy. Elon Musk is one such person. He can do anything for profit. Recently he bought Twitter and we see Doge Coins pumping when Twitter is doing well and prices falling when Twitter has negative news. There is a large community following him in his other businesses as well. If at this time Elon Musk releases any positive news about Doge Coin then it will definitely reach good level. It should be remembered that he is a famous and big businessman in the world. He has to take every step very carefully. But I am confident that if the market conditions improve, Elon Musk can also offer something good things for Doge Coin. If Twitter accept Doge coin or adopt the payment method then the price of Doge Coin can go up to what level that beyond imagination.

[iv4n]

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

In this case, it is unclear how Doge existed before, until Elon Musk paid attention to it. Of course, having such a patron as Elon Musk would be good for any project, but this is not a decisive factor in the existence of the coin. So in any case, the Dogecoin community is more important than the patronage of Elon Musk.

Doge existed before, but Elon and his army of followers pushed Doge's price to the sky! As I remember he was accepting Doge for buying Tesla cars, I wonder how many people (if any?) purchased Tesla with Doge coins?

I agree that one person is not so important factor, but if take Doge as an example, we saw what happens when one person with a deep pocket and lots of followers decides to enter the project with full power! I guess this can happen again, to any other coin.

[Crypt0Gore]

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?

Dogecoin has no outdated blockchain, if you can judge dogecoin this way then it's same thing for Bitcoin and every first crypto projects like Litecoin etc.

Dogecoin works very well as intended thats why we love it, low gas fee and a more reliable blockchain, a scam free compared to new crypto projects nowadays.

A crypto project will only die if people stop supporting it, what makes crypto projects strong is the love of the community and Dogecoin has this big community love behind it.

[so98nn]

Dogecoin gained popularity due to its low cost as well as its welcoming community.

Dogecoin gained popularity because one billionaire was bored one day and he thought to make joke about meme coin on the twitter. The billionaire is none than Elon Musk who made the craziest funny jokes about DOGE coin and it's possible applications in his virtual space. It got pumped like crazy because peeps thought that it has billionaires back and they can safely earn millions of dollars out of it.

Only few of them were able to gain huge amount of money from this incidence. I mean they might have been investing DOGE at right time and opportunity. Those who were going FOMO did investments at very wrong times and lost till the last penny.

Definitely fact check needed before saying anything about DOGE.

[MinoRaiola]

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

Dogecoin would still be around, possibly not for the price it is now, but it is listed on almost all exchanges and before dogecoin faild, many others will fail before. If Elon continues with Twitter, then it will become his playground and I think he will want to try something. The fact that there is no limit on Doge is not positive, but Doge is there for fun.

[milewilda]

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

Dogecoin would still be around, possibly not for the price it is now, but it is listed on almost all exchanges and before dogecoin faild, many others will fail before. If Elon continues with Twitter, then it will become his playground and I think he will want to try something. The fact that there is no limit on Doge is not positive, but Doge is there for fun.

It was created to be a meme or something that correlated with a joke coins or something like that which surprisingly it do still been alive and kicking after all the years considering that it is one of the oldest coin
too that we do have in the market, it does signify that as long there would be some demand then it would be still remain alive.There's no man on this world would be able to tell and make out some
conclusions on how a certain coin would really be ending up.As long there would be recognition then no one could really tell on how long it would be lasting.
As long there's recognition and application then it would really remain to exist no matter what.

[albon]

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.

This is undoubtedly one of the main reasons that do not attract me and the majority of investors to Dogecoin; in addition to the fact that Dogecoin has no technical benefit or an actual project, it is originally a currency for jokes and a project without clear goals, so it may fail in the future and be replaced by one of the other projects. Still, through Billionaire Musk's support for Dogecoin, I believe that his support is the lifeblood of this meme coin, and this is why thousands of investors turned to invest in it despite all the negatives that follow from that. Investing in Dogecoin needs a lot of courage and excess money because it is an investment full of risks, although there is a possibility of earning huge returns.

[abel1337]

Dogecoin gained popularity due to its low cost as well as its welcoming community.

Dogecoin gained popularity because one billionaire was bored one day and he thought to make joke about meme coin on the twitter. The billionaire is none than Elon Musk who made the craziest funny jokes about DOGE coin and it's possible applications in his virtual space. It got pumped like crazy because peeps thought that it has billionaires back and they can safely earn millions of dollars out of it.

Only few of them were able to gain huge amount of money from this incidence. I mean they might have been investing DOGE at right time and opportunity. Those who were going FOMO did investments at very wrong times and lost till the last penny.

Definitely fact check needed before saying anything about DOGE.

The recent bull market is full of "influential people" who shilled coins so hard so it would pump and DOGE is one of the token that received that kind of treatment in the last bull market. I know it is a shame that people who are new to the market are being controlled by these influential people that makes the shilled token rise. Though the shilling that Elon made make many people gain profit and I believe that majority of old DOGE holders are the one who gained the most profit. DOGE is a meme coin and I don't think it will fail even if Elon didn't shilled it. It will stay at it's current position at least even without Elon help.

[Natalim]

Actually it doesn't have any goal to achieve, the creator of the project sold it a long before so its a coin take over by influence and manage to survive for years so in future we don't know what's the status of Elon Musk regarding Dogecoin so its good for short term and no coin other than bitcoin looks safe when it comes to very long term holding.

That is really true...Dogecoin has been overly manipulated and controlled, shilled by an influential personality and it was the reason why it survives. But what really happens if they pull out their support into this project? Yet, no matter what we do and even having the current condition of this project the future will remain unpredictable. But never I think it will fail instantly and turn into a scam like Luna and many others. We know that Dogecoin is here for many years and that was already an unbeatable existence.

[Psynthax]

if dogecoin remains with zero innovation whatsoever eventually it will fall just like any other meme coin and i'm sure of it, that's because there are always new meme coins being created that is trying to take some market share of dogecoin and in the long term that could affect doge coin, just see shiba inu with its innovation even though it seems right now doge coin is still going strong that's because all the shill coming from elon, even though there's certainly bigger chance that this coin will just stay as it is becoming a meme coin leader, that'll always retain its value.

[Rengga Jati]

oge 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.

I ma not a fan of Dogecoin, but this may be a small probability. We know Dogecoin, although a meme coin, is an old coin, used on many platforms, and moreover has a very big community. We know that they have quite a weakness due tot heir blockchain technology and their scalability, but the fact, the Doge coin has its power so far, becoming the main meme coin that is aways used and remembered.

This may be hard for Dogecoin to rise up and pump as the previous hype, but they may still have value and can survive in the crypto market. Now, they have quite a strong competitor, Shiba Inu that provides much better technology and offering. However, until now, the Doge coin still gives a certain influence and interest. We may not be sure about the future, but as long as the condition is still similar to this, Dogecoin may still last longer. But, if once big FUD spreads that will really kill Doge, we must be careful and ready for every probability. STay careful of any condiiton.

[tvplus006]

Doge existed before, but Elon and his army of followers pushed Doge's price to the sky! As I remember he was accepting Doge for buying Tesla cars, I wonder how many people (if any?) purchased Tesla with Doge coins?..

No, Tesla has never been sold for dogecoin. There was such an option to buy Tesla for bitcoin, but it was subsequently canceled. After that, Elon Musk announced the sale of Tesla merch for Dogecoin - it was a year ago, and this option is still available.

[libert19]

Doge coin is like coin which doesn't have anything to lose in first place 

In this bear, there are better coins than doge to look at and you are better off predictions and personalities, they just cloud your vision.