1.
How Promising is the Future of Dogecoin?
Dogecoin is relatively new in the cryptocurrency world. Just like Litecoin, it is one of those many
variations or ‘clones’ of the Bitcoin source code that uses Crypt. The main distinction between the
Bitcoin and Dogecoin is the emphasis on
social the aspect and popularity it has
attained by its brand. They deployed a
marketing campaign based on a well-known
meme series, rather than the technical ones.
This is one of the main characteristic that
seperates Dogecoin apart from its more
established counterparts. This also increased
its value and its popularity soared in a short
span of time.
The future of dogecoin has an interesting
acceptance by the community. It is actually
one of the youngest of the alt currencies and
it began as a kind of a sarcastic comment or
joke on one of the popular social media sites and a breed of dog called a Shiba Inu, it has a somewhat
less-serious approach towards some of serious issues like finance, value, etc. In fact, this light-hearted
and even comical approach of Dogecoin is where it has found its true niche and strong foothold in the
community. In the words of David Gilberts of ibtimes, “It’s not taking itself as seriously, it’s not being
used by people worrying about whether they’ll become rich.”
Having said this, let’s not forget that compared to Bitcoin, Dogecoin is still in its toddler’s stage and
therefore it is not easy to accurately predict its future. Although the concept of cryptocurrencies is a
relatively new concept, Bitcoin is the “Grandfather” of Altcoins and has much more dominance and
acceptance than Dogecoins. Although both Bitcoin and Dogecoin use the same basic technology and
principles, it is the marketing ideas behind them where they actually differ.
Whether Dogecoin will grow stronger to replace Bitcoin in the future is the question that only time will
be able to answer. For any Altcoin to stand the tests of time will require acceptance, adoption and
mining. It is necessary for the Dogecoin to establish itself in the cryptocurrency market by growing a
larger community around it. A community of people who are passionate about building strong
foundations over the basic protocols adapted from Bitcoin. The network needs enough diversity to stay
healthy as well and protect itself against vulnerability.
In order for Dogecoin to survive and thrive, an inspired and passionate effort on the part of the
developers is essential. It requires continued growth and support from the community of individuals,
developers and social media awareness to effectively spread the word and not try to receive immediate
profits. So far, this has been the right spring-board to take the leap into effective adoption.