Dogecoin is no longer just a memecoin

[pooya87]

Sometimes a very quick look at the price history of an altcoin gives you a lot of valuable information. For example here is the Dogecoin history:


Do you see how it's dumping? That is a classic memcoin.

Now if we zoom in we can understand the reason why for the recent claims of it not being useless memcoin.


Do you see that little pump there? That is a classic memcoin and a hype trend in the media trying to match the pump help it get pumped a little bit more. Although because Doge is a useless memcoin it can not be pumped any more than this. Specially considering how massive its circulating supply is (146 billion).

[Marykeller]

I think dogecoin is like Tron trx currently because there's nothing much happening in the project no development or something else except for the use of payment purpose and it's cheaper, of course Doge is one of the oldest coin out there and lot of projects that was created same time has long gone, example, EOS and few other coin. I think investor are all done with such project and their interest now on another pump dump projects.

Next to the new coin, that's how the crypto investor in the crypto space visualizes all the projects in the market, except Bitcoin. That's the reason why, when some potential coins are recently launched in the market, you see many investors rushing into the new coins for quick gains, abandoning or forgetting about the old coins that have no more marketing strategy and project development, while new coins that have good marketing and project development, investors are investing in them.

For old coins that couldn't keep up with their project development and marketing, you see them disappearing from the market. That's why you get to see old coins becoming less popular in the market to attract big investors to invest in their projects. For Doge, it's already an old coin, and its fate lies on Elon Musk to tweet about her.

[passwordnow]

Dogecoin's community sure is a vast and known globally. It's no longer just a memecoin but a movement where it has borned a lot of new memecoins thanks to it. While I think these celebrities are just making fun of it, they probably didn't expect the warm welcome of the meme community or the current community that has been founded through Dogecoin all over these years.

Even the founder of it, can't believed that. Since they've made it as a joke and this joke and memecoin have made a lot of rounds and contribution in the market and to the community.

[Lanatsa]

I think dogecoin is like Tron trx currently because there's nothing much happening in the project no development or something else except for the use of payment purpose and it's cheaper, of course Doge is one of the oldest coin out there and lot of projects that was created same time has long gone, example, EOS and few other coin. I think investor are all done with such project and their interest now on another pump dump projects.

Next to the new coin, that's how the crypto investor in the crypto space visualizes all the projects in the market, except Bitcoin. That's the reason why, when some potential coins are recently launched in the market, you see many investors rushing into the new coins for quick gains, abandoning or forgetting about the old coins that have no more marketing strategy and project development, while new coins that have good marketing and project development, investors are investing in them.

For old coins that couldn't keep up with their project development and marketing, you see them disappearing from the market. That's why you get to see old coins becoming less popular in the market to attract big investors to invest in their projects. For Doge, it's already an old coin, and its fate lies on Elon Musk to tweet about her.

They will really be trying out to rush in as early as they could because if we do really think up sensibly then those who do enter on early phase will really be able to maximize profits and could possibly become rich on the time or moment that it will be making up some moon shot. People or investors will really be keeping up on being active on joining into presales or start up specially if the project is really that something that has a good utility or having that uniqueness then it will really be able to make up some noise and it will really be building up the hype and interest on which this causes up for a certain project to get such huge support.
Due to this kind of behavior then this is being used by those scammers that we do have on this market, they are really that taking advantage of that desperation for their own benefit.

Going back into the topic on which explains about DOGE is already that not become a memecoin then its a normal thing because when we do speak about a joke or meme coin then it is really just that a token
which is really that made out for fun and not talks about having some usage or utility, but on the time or moment that it had become that a project which does have its utility then this is where it will really be separated and would really be that become from meme token into a utility token on which this do signifies that it does really that that progress and development. Community support will vary on this aspect.

[taufik123]

Now if we zoom in we can understand the reason why for the recent claims of it not being useless memcoin.


Do you see that little pump there? That is a classic memcoin and a hype trend in the media trying to match the pump help it get pumped a little bit more. Although because Doge is a useless memcoin it can not be pumped any more than this. Specially considering how massive its circulating supply is (146 billion).

A hype trend that is deliberately made to throw away some payloads with greater profits.

Some of the dumpings were carried out when DOGE's main fan, Elon Musk, talked about DOGE and the price would be affected,
so many people took advantage of the moment to sell their holdings.

But DOGE is still the best memecoin out of many memecoins that have emerged today that have just been left behind.
Even memecoins with utility would be worthless without having a strong community, DOGE has survived to this day due to its strong community as well as the support of several people and big celebrities in my opinion.

[uchegod-21]

DOGE was conceived as a meme currency, but after 11 years of existence, the token is often used to pay for purchases.

I had to go use the internet to confirm that doge is truly upto 11 years of existence. I was surprised to confirm this to be true. I wasn't aware this while that doge is among the early cryptocurrencies that were created. I had to be aware of it when Elon Musk started hyping it on the then twitter now known as X. This should be a confirmation that it is no longer a meme coin, since it now has some use cases. I also do not think that it is over for dogecoin because Elon could wake tomorrow and start posting the image of dog in his X and you know what that will mean to the dogecoin. I am not sure that doge is disappearing any moment, it is now part of the industry.

[jaberwock]

Dogecoin's community sure is a vast and known globally. It's no longer just a memecoin but a movement where it has borned a lot of new memecoins thanks to it. While I think these celebrities are just making fun of it, they probably didn't expect the warm welcome of the meme community or the current community that has been founded through Dogecoin all over these years.

It's not Dogecoin's community that is vast and known globally but it was Dogecoin itself. Pretty sure we have less interest if who are the people involved on its community but we know that they still have some importance because they can buy Doge and help push its price upwards. Even though Dogecoin have already gone a long way, I will say that it was still a meme coin and this will never be changed because this is where it's originally programmed. The more that it was not a movement.

A movement is a completely different thing and usually can be found or related to politics or government. Why be thankful when there are now lots of meme coins when meme coins are in fact like a cancer in the crypto world? Maybe you guys can say that it still have some contributions but I think old cryptos are going to be much stronger if without them.

[wheelz1200]

I agree that Dogecoin's association with Elon Musk has been a significant factor in its continued popularity. However, I believe that its recent price decline and the lack of substantial development within the project suggest that it may be struggling to maintain its relevance.

While its low transaction fees and ease of use are certainly attractive, it's important to consider the long-term potential of a coin. If Dogecoin fails to evolve and offer unique value propositions, it may face challenges in future bull runs.

Doge will be fine, once the crypto market gets moving ypu will see it move again.  There are plenty of people with bags from 2021 to keep it relevent.  It's the OG meemcoin and will leave all those fringe projects and come back buying doge once things get moving.  People are using these weird meemcoins hoping to get a stack to move in on bigger coins.  Greed kills stacks but it is what it is.  Doge is almost too big to fail at this point.

[justdimin]

DOGE was conceived as a meme currency, but after 11 years of existence, the token is often used to pay for purchases. This is the conclusion reached by experts from Bloomberg.

According to the publication, the average commission on the network is <$0.01, which is almost 80 times cheaper than in the BTC blockchain, and a Dogecoin transaction requires less than a minute. Usually, such cross-border money transfers by classical methods have a commission of about 7%.

DOGE also has a rather large fan club of celebrities, which includes Elon Musk, Mark Cuban and Snoop Dogg. The fact that the token is not just a joke asset is evidenced, for example, by the initiative of the Dallas Mavericks team to introduce payment for tickets and goods in Dogecoin.

The cryptocurrency is also accepted in Williamsburg Pizza, whose co-owner pointed out the "virality" of the token. In the BitPay app, Dogecoin managed to overtake XRP and USDC, taking 5th place, experts noted.

“As time goes on, Dogecoin has become less of a memecoin and more of just a blank slate – one without much technological or idiosyncratic risk. Relative to the rest of the crypto market, it offers a pretty solid mix of familiarity, simplicity, and low cost,” —commented the founder of the Velo Data platform, Frederick Collins.

Memecoin doesn't mean it can't be used for transactions? Memecoin means it comes from meme origins, and doge comes from meme origins so it is a memecoin. Just because it can be used for transactions, just because it has small transaction fee, just because it has pace when moving it, doesn't mean it can be considered as nothing but a memecoin.

You may consider memecoin as a bad thing to say to a project, which most of us do say it as a bad thing because all memecoins (including doge) are shitcoins, but memecoin isn't actually a thing to diminish the value, it means what the origin of the project is about. Doge comes from meme origins as I said, and because of this it will always be considered memecoin, probably the first one if I am not wrong.

[Hispo]

Though, it does not matter how much the Dogecoin community and liquidity continue to grow, Dogecoin was born as a memecoin and will continue to be a memecoin for the simple reason most of the people who provided to it's initial liquidity did so for the sake of the meme, it was not conceived as a serious form of international and decentralized system for people to carry payments out. Even to this day, much of the price of Dogecoin depends on the Fomo or fud the Dogecoin community is feeling for the future of their coin, not even mentioning the supply of the coin is infinite and inflationary in nature, in the long term.

Those so-called experts are right to point out the merits of Dogecoin to have become a reliable form to send money around the world and accepted by all major exchanges on the internet, but it continues to be a memecoin, the most successful of all of them, though. There is nothing wrong with being a memecoin as long as people who invest are aware of the risks and the limited use cases of memecoins have, specially in their first years of existence.

[pooya87]

But DOGE is still the best memecoin out of many memecoins that have emerged today that have just been left behind.
Even memecoins with utility would be worthless without having a strong community, DOGE has survived to this day due to its strong community as well as the support of several people and big celebrities in my opinion.

I completely agree. As far as memcoins go, Dogecoin is always on top without a doubt. The fact that it has been able to survive this long and not die (still has trading volume, blocks being mined, people send transactions, has a community, etc.) is an indication of that. But it is still a memcoin unlike what was claimed in OP.

[BlackHatCoiner]

Perhaps the number #1 memecoin, but still a memecoin. I do agree, however, that a fraction of the noisy crowd uses it for actual transactions, when Bitcoin is high, or when they want to tip somebody.

It's a free market. All coins are welcomed to join and compete. It's just sad how, beyond Bitcoin, there's the sign that creating more currencies is clearly for speculation purposes only.

[taufik123]

I completely agree. As far as memcoins go, Dogecoin is always on top without a doubt. The fact that it has been able to survive this long and not die (still has trading volume, blocks being mined, people send transactions, has a community, etc.) is an indication of that. But it is still a memcoin unlike what was claimed in OP.

Until now, no one doubts DOGE as the King of memecoins.
With a total Marketcap volume of $16,278,343,421 which is the top memecoin in the top 10 of CMC and cannot even be crossed by other memecoins.

And there are rumors that are still being discussed for years about DOGE that Vitalik suggests moving from POW to POS, in order to make DOGE more efficient in terms of energy use so that there is no need to mine using hardware and also solve scalability problems, such as in Bitcoin.

But if DOGE has to move to POS, then DOGE is not a decentralized coin anymore, even the community does not agree with this move and until now it has not been realized and continues to use POW.



https://cointelegraph.com/learn/dogecoin-transition-from-pow-to-pos

Perhaps the number #1 memecoin, but still a memecoin. I do agree, however, that a fraction of the noisy crowd uses it for actual transactions, when Bitcoin is high, or when they want to tip somebody.
-snip-

It could be an alternative to pay someone or tip with a cheaper fee when the bitcoin fee is going up.
I remember a few years ago when the bitcoin price spike happened and the fees started to increase, I started converting my Bitcoin to DOGE for me to move to another market and yes it provides cheaper fees during emergencies.

[passwordnow]

Dogecoin's community sure is a vast and known globally. It's no longer just a memecoin but a movement where it has borned a lot of new memecoins thanks to it. While I think these celebrities are just making fun of it, they probably didn't expect the warm welcome of the meme community or the current community that has been founded through Dogecoin all over these years.

It's not Dogecoin's community that is vast and known globally but it was Dogecoin itself.

While that's right but it won't be as popular and known globally if it's not for its community that supports it.

Pretty sure we have less interest if who are the people involved on its community but we know that they still have some importance because they can buy Doge and help push its price upwards. Even though Dogecoin have already gone a long way, I will say that it was still a meme coin and this will never be changed because this is where it's originally programmed. The more that it was not a movement.

It's still a meme coin and I think that the expounding of it that it's no longer a memecoin really varies to who is having the opinion. There's no wrong opinion for this matter whether someone says that it's already a big movement or a memecoin or whatnot, we can define it however we want to.

A movement is a completely different thing and usually can be found or related to politics or government. Why be thankful when there are now lots of meme coins when meme coins are in fact like a cancer in the crypto world? Maybe you guys can say that it still have some contributions but I think old cryptos are going to be much stronger if without them.

While it seems that you're putting things into literally, it's also a movement when it's about its community. I am not thankful with the spread of many memecoins because of it. Well, you're entitled for your opinion and I wouldn't argue with that but agree that if many of those new coins are gone, the market is much better and it will impact more not just dogecoin but most likely BTC which I like more to happen.

[Akbarkoe]

Perhaps the number #1 memecoin, but still a memecoin. I do agree, however, that a fraction of the noisy crowd uses it for actual transactions, when Bitcoin is high, or when they want to tip somebody.

It's a free market. All coins are welcomed to join and compete. It's just sad how, beyond Bitcoin, there's the sign that creating more currencies is clearly for speculation purposes only.

yes sometimes I also use this Dogecoin on several gambling platforms that already support this memecoin, and it can be said that Doge has a utility and who doesn't know about Doge coin in this world, or crypto fans, they will immediately know what doge coin is, because at the beginning of its rise it made a lot of new rich people, lol
Know sir, this world will not be far from less and more, everything must have a cause and effect why they created this dogecoin and why elonmusk supports this meme coin, there is always a shrimp behind the stone that no one knows about, except for the insiders.

[Catenaccio]

I completely agree. As far as memcoins go, Dogecoin is always on top without a doubt. The fact that it has been able to survive this long and not die (still has trading volume, blocks being mined, people send transactions, has a community, etc.) is an indication of that. But it is still a memcoin unlike what was claimed in OP.

One of Dogecoin strength is its network hashrate and blockchain security. 6 confirmations of Bitcoin blockchain equal to 1,243 confirmations of Dogecoin blockchain and it is 25x slower if you use Dogecoin blockchain for transactions.

The Howmanyconfs.com site shows Dogecoin is a third best Proof of Work cryptocurrency, only after Bitcoin and Litecoin. Litecoin with 395 confirmations and 18x slower is the second best PoW cryptocurrency.

One more interesting thing of Dogecoin, can be found in The two types of Altcoins, an investor's view article.

Dogecoin is an Oscillator altcoin, and the following chart shows this.

[FortuneFollower]

I completely agree. As far as memcoins go, Dogecoin is always on top without a doubt. The fact that it has been able to survive this long and not die (still has trading volume, blocks being mined, people send transactions, has a community, etc.) is an indication of that. But it is still a memcoin unlike what was claimed in OP.

One of Dogecoin strength is its network hashrate and blockchain security. 6 confirmations of Bitcoin blockchain equal to 1,243 confirmations of Dogecoin blockchain and it is 25x slower if you use Dogecoin blockchain for transactions.

The Howmanyconfs.com site shows Dogecoin is a third best Proof of Work cryptocurrency, only after Bitcoin and Litecoin. Litecoin with 395 confirmations and 18x slower is the second best PoW cryptocurrency.

One more interesting thing of Dogecoin, can be found in The two types of Altcoins, an investor's view article.

Dogecoin is an Oscillator altcoin, and the following chart shows this.

Never thought about something like that regarding DOGE and Litecoin as well, I will definitely give this article a read in the near future, thank you very much for sharing it!

[BlockExplorer24]

https://talkimg.com/images/2024/10/03/i3Qzm.jpeg
"It’s is no joke": Dogecoin is no longer just a memecoin

DOGE was conceived as a meme currency, but after 11 years of existence, the token is often used to pay for purchases. This is the conclusion reached by experts from Bloomberg.

According to the publication, the average commission on the network is <$0.01, which is almost 80 times cheaper than in the BTC blockchain, and a Dogecoin transaction requires less than a minute. Usually, such cross-border money transfers by classical methods have a commission of about 7%.

DOGE also has a rather large fan club of celebrities, which includes Elon Musk, Mark Cuban and Snoop Dogg. The fact that the token is not just a joke asset is evidenced, for example, by the initiative of the Dallas Mavericks team to introduce payment for tickets and goods in Dogecoin.

The cryptocurrency is also accepted in Williamsburg Pizza, whose co-owner pointed out the "virality" of the token. In the BitPay app, Dogecoin managed to overtake XRP and USDC, taking 5th place, experts noted.

“As time goes on, Dogecoin has become less of a memecoin and more of just a blank slate – one without much technological or idiosyncratic risk. Relative to the rest of the crypto market, it offers a pretty solid mix of familiarity, simplicity, and low cost,” —commented the founder of the Velo Data platform, Frederick Collins.

For more details read here.

Thanks for sharing! It's fascinating to see DOGE shift from meme to mainstream with its low fees and growing real-world use. Given its simplicity and increasing adoption, could we be seeing the start of Dogecoin becoming a serious player in the payments space?