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Dogecoin could fail in the near future due to its outdated blockchain technology.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?
Wrong wrong wrong wrong.
Dogecoin is an improved setup as compared to btc or ltc.
dogecoin has cleverly solved the problem that plagues both BTC and LTC
the ½ is an issue and dogecoin no longer does it.
so every year doge adds an exact amount of coins which never ceases so miners will always get a reward.
But but But what about inflation. Here is the genius of doge
year 5 there were 5x coins
year 6 there were 6x coins that is terrible 20% inflation
year 10 there were 10x coins hmm
year 11 there were 11x coin hmm inflation dropped from 20% a year to 10%
year 20 there will be 20x coins
year 21 there will be 21x coins wow only 5% inflation
year 50 there will be 50x coins
year 51 there will be 51x coins amazing now down to 2% inflation
year 100 there will be 100 x coins
year 101 there will be 101 x coins now we be at 1% inflation rate
if we develop fusion for electrical usage world wide doge is poised to last for thousands of years.
if we do not develop fusion for electrical usage world wide we are basically fucked.
To me the LTC/Doge concept is brilliant.
doge does 10x the blocks btc does. so it scales at 10x easy peasy.
doge can be made to do larger blocks 32million size vs current size 1 million
so doge can do 32 x 10 = 320x more transactions then btc can do now.
btc does about 300,000 daily transactions so 320 x 300,000 = 96,000,000 possible divide by 2 and get 48 million daily transactions without an LN
network set in place.
Doge may have been disguised as a joke so as not to be targeted as the real and true threat it is to BTC and the truly dirty POS coins like ETH.
But the reality is Doge is the best hope for the human race to survive and thrive not any other coin.