Dogecoin: The Most Stable Cryptocurrency?
Many people don’t care about Dogecoin. What a joke, right? It was started as a joke, after all. The way the people communicate is such a joke – sorry, such joke, very silly.
These things might be true, but here’s something else that’s true: Dogecoin has consistently been in the top ten market capitalizations for cryptocurrencies, and since its initial highs in March last year, it’s been relatively stable in terms of both market capitalization and value.
The value we’re referring to could be very low, but with high inflation comes easier access to the coins. Many of its holders are holding millions of the altcoin, either still waiting for the day that it goes back to its former glory or using it in much the same way as Bitcoin.
One thing is for sure: the Dogecoin community has managed to pull together and achieve some remarkable feats. They’ve sponsored a few NASCAR races, a school in Cambodia, and even a mini lunar rover race. Compared to Bitcoin, they tend to agree on many things by default.
The spirit of Dogecoin took a hit earlier in the year when creator Jackson Palmer told another outlet that he was tired of white men being over-represented in cryptocurrency circles. In the same interview he essentially denigrated all that is holy in digital cash, by praising the feature of bank accounts and traditional financial instruments that allows one to reverse potentially fraudulent charges.
Regardless, Dogecoin continues its path, having a fraction of a cent in value per XDG. If stability is what people are looking for in cryptocurrency, perhaps it’s time to stop advising them to try Bitcoin, and try Dogecoin instead, because this stability is not created by a lack of trading in any sense – Dogecoin is still one of the top-traded coins on numerous altcoin exchanges.
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