The reason Dogecoin could fail in the future

[lumbanrang]

Dogecoin in my opinion is one of the few cryptos that is quite stable and has survived to this day. Even though Dogecoin is memecoin, it seems that until now people are still interested in holding this token and it looks like it will continue in the future. So what you're saying is that it has an outdated blockchain, that I don't think is a compelling reason for Dogecoin to be abandoned by its holders.

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[Mpamaegbu]

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.

This is the part that complicates things, especially for me. If Dogecoin was created as a memecoin but has continued to show relevance in the scheme of things, can't we embrace it for its relevance and utility then? Virtually every memecoins that came after dogecoin has bitten the dust but Doge is still standing and doing surprisedly well.

OP, if I ever had the type of conviction you have that Dogecoin won't do well in days to come, I would simply be taking a short on it with high leverage so I can cash out. It's that simple. So, would you pull the trigger?

[hd49728]

Dogecoin is a classic meme coin, a pioneer for meme coin branch in crypto.

A biggest factor that helped Dogecoin to exist after a few bear markets is its algorithm. Proof of Work is a very great algorithm as if there are miners, the coin will continue to exist with a lively operating network.

Dogecoin is different than a 2020 meme coin generation which is mainly operated by Smart Contracts. I see more risk for security, centralization, hacks, compromises with Smart Contract meme coins.

[Flexystar]

It could be the best way to earn loads of profits in the near future. However, we still need to be way precautious than the previous hike that was done either intentionally or may be it was failed experiment over the period. Considering the fact that Elon was behind the DOGE earlier year but somehow he played all of us. I wish he would have kept the promises that he made. In current year, SpaceX was supposed to launch the DOGE funded space program but Elon never did it. Anyways, let’s just hope that we see some good pumps later in the time.

[philipma1957]

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.

[maikrothaman]

It will not totally fail because obviously Elon Musk the Billionaire is supporting and still promoting it

Elon please pump it. Please tweet.  Doge to the moon. I need money so that I can sell my doge shit coins to other stupid investors.  

[swogerino]

Although Doge is a meme coin the fact that it skyrocketed from 0.0028 to 0.70 dollars has put a precedent that people now most likely relate Doge to that huge skyrocketing in price and there are a lot of people who believe it will recover again in the next bull run,most of the people are mining it but there are also people who are buying it for this reason because they hope in a good recovery.

Based on these facts I think these are enough for Dogecoin to not fail in the near,medium and why not also in the distant future,the fact that is Scrypt mineable meaning a lot of devices like Antminer L7 can mine it add to this fact,that it won't fail in the future.

[romero121]

Although Doge is a meme coin the fact that it skyrocketed from 0.0028 to 0.70 dollars has put a precedent that people now most likely relate Doge to that huge skyrocketing in price and there are a lot of people who believe it will recover again in the next bull run,most of the people are mining it but there are also people who are buying it for this reason because they hope in a good recovery.

Based on these facts I think these are enough for Dogecoin to not fail in the near,medium and why not also in the distant future,the fact that is Scrypt mineable meaning a lot of devices like Antminer L7 can mine it add to this fact,that it won't fail in the future.

Dogecoin had its growth in a calm way though it hasn't got much of real-time usage apart from gambling and on few stores accepting it into business. The influence of Elon Musk gave it the bounce and are more visible to the common people who never thought of dogecoin to grow this high. So, the growth won't get disturbed at any situation. Same as the past it keeps its survival.

[Abiky]

I don't think Elon Musk will support Dogecoin forever. He wanted to have fun with Dogecoin and he did. However, I don't find it correct to explain the future failure of Dogecoin with its price. Dogecoin is a memecoin. It is the ancestor of memecoins. It has a position independent of its price... Under normal circumstances, it is absurd that we even talk about Dogecoin today. I think we cannot explain this absurd situation today, so we may relive the times in the future that we cannot explain this absurd situation... It is a memecoin. We don't need to look for logic in Dogecoin.

Dogecoin doesn't need Elon Musk to survive in the long run. It has been there before the crypto hype, so I'm confident it won't go away just like that. Prices may fall, but at least the blockchain network will be active. That's thanks to the community supporting it every step of the way.

I wouldn't use Dogecoin seriously anyways, especially when it's a "meme" coin. It's value is driven out of pure speculation. With a huge supply that constantly grows over time, there's no reason to believe DOGE will sustain high prices in the future. Who knows how much will the cryptocurrency be worth by then? Just my thoughts

[Bitstar_coin]

Elon please pump it. Please tweet.  Doge to the moon. I need money so that I can sell my doge shit coins to other stupid investors.  

In that case, I suggest you pray hard, if Elon fail to tweet there won't be any pump for dogecoin anytime soon. Now that Elon seem to have his hand full with runningof his newly acquired Twitter, I doubt he has the time to make a tweet.

[Japinat]

Dogecoin in my opinion is one of the few cryptos that is quite stable and has survived to this day. Even though Dogecoin is memecoin, it seems that until now people are still interested in holding this token and it looks like it will continue in the future. So what you're saying is that it has an outdated blockchain, that I don't think is a compelling reason for Dogecoin to be abandoned by its holders.

As you've said, up until now, people are still holding and interested to acquire more of this dogecoin. But aren't you curious and confused why people are still looking forward with it despite having no utility and categorized as one of the meme coins? That is because they are waiting and hoping for the next trend where another crypto whale will try and manipulate the market into their own benefit, and once that happens, those said people who held their coins will also ride the wave.

[Xal0lex]

Dogecoin doesn't need Elon Musk to survive in the long run. It has been there before the crypto hype, so I'm confident it won't go away just like that. Prices may fall, but at least the blockchain network will be active. That's thanks to the community supporting it every step of the way.

I wouldn't use Dogecoin seriously anyways, especially when it's a "meme" coin. It's value is driven out of pure speculation. With a huge supply that constantly grows over time, there's no reason to believe DOGE will sustain high prices in the future. Who knows how much will the cryptocurrency be worth by then? Just my thoughts

Elon Musk has become so imposingly synonymous with DOGE that many investors have started to use just his words to make a decision to buy or sell the asset. This is only realistic in the crypto market. I'm not sure that such manipulation is possible in the stock market. DOGE is good for speculation, but its future is murky as a good long-term investment. There is no telling what will become of the coin after it moves to PoS, if it ever does.

[denasha92]

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

Why some people just know dogecoin after Elon musk jumped into it? This coin has existed a long time ago. Some People always said that dogecoin is fall or dumped now. If you hold it since 2013-2014. You' still in a big profit now or even You'll be rich when the doge price reach ATH. Dogecoin have a good and active community.

[Hildentine]

I think Dogecoin is a very strong project and the main point is that a Alon musk support of this project so they show that it will be a successful project in future.
According to my experience is that one the market situation is good so the project definitely achieve their goals.

[bittraffic]

I think Dogecoin is a very strong project and the main point is that a Alon musk support of this project so they show that it will be a successful project in future.
According to my experience is that one the market situation is good so the project definitely achieve their goals.

Even if Elon wouldn't support it, Doge will rise. Doge hash rate is even rising more and more because more people are getting into it than investments they can't afford. It's one of the most googled coins.

The success of Doge can be compared to the success of LTC. Although they may not really rise high like thousands in just a decade like BTC, they are going the long game.

[justdimin]

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.

How hard to update the technology behind the blockchain? Just active devs team is more than enough to do so. When dogecoin was pumped from 30 satoshi to 1000 satoshi, dogecoin's official core wallet was not syncing at all; still we experienced multi-fold growth (now dogecoin got a fully functional wallet as per I checked last). So, if you are complaining about their blockchain technology then I guess it would be matter of one or two weeks or months time to get into a new technology.

I wish, new active devs to cap the total circulating supply as I remember initially dogecoin got limited supply like 100 billions (please correct me if I am wrong) but after that devs changed it to unlimited supply.

[solehdavid]

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.

The fact that the Dogecoin level rises with Elon Musk shares and the price depends on this does not inspire confidence. Besides, there are at least 100 different projects with higher potential than DOGE. frankly, I think its value will decrease day by day. especially if musk withdraws his support, I doubt it can even exist in the market. nevertheless, you can never speak for sure, everything can change if there are some changes in the company and a new road map is adopted.

[wheelz1200]

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?

The biggest reason is its endless trail of 10,000 doge block rewards every minute.  There is no possible way demand can keep up with an ever minting supply.  Eventually this will just keep dropping and dropping.  Doge had its pump, it's over.

[lixer]

The fact that the Dogecoin level rises with Elon Musk shares and the price depends on this does not inspire confidence. Besides, there are at least 100 different projects with higher potential than DOGE. frankly, I think its value will decrease day by day. especially if musk withdraws his support, I doubt it can even exist in the market. nevertheless, you can never speak for sure, everything can change if there are some changes in the company and a new road map is adopted.

For us who aren't into manipulations yes, this is a turn off but for those who are into it, Well they are still positive about doge that musk is still into it and will pump the coin sooner or later. There are different cryptos. Some are unique and has it's own charm. This isn't only about use cases and utility. Like for example dogecoin doesn't have that but it only got popular because it is a meme coin that originated on that dog who went viral on the internet and later used in the memes.

If your goal is to earn a profit then dogecoin might still give you that by the time the trend came back but if you are into the coins technology then there are better coins for this. It's only about preferences.

[mindrust]

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?

If Doge fails because of its outdated tech, so can ltc and btc. That's the exact reason why doge is not going to fail because tech has nothing to do with its success. Tech can be updated. People say bitcoin is outdated but it had a major update (segwit) few years ago and it helped a lot with the scalability issue. Also there is a second layer (LN) working on BTC.

Doge can have those updates too.

Still though, the tech is not what makes doge valuable. It is the memes. If people suddenly stop liking memes, that's the day doge is going to die.