Dogecoin (DOGE) has had a very interesting run for a coin that was started as a joke based on the popular Shiba Inu internet dog meme in 2013. Currently ranking 44th among the largest cryptocurrencies with a market cap of 288 million, Dogecoin has continued to baffle its critics ever since its market cap swelled to USD 2.1 billion in the start of 2018.
Looking for currencies that have the potential to go big in 2018, it’s interesting to note that the panelists on finder.com.au have Dogecoin among their 12 biggest currencies as predicted big movers. Their panelists who are associated with the cryptocurrency space and blockchain technology make predictions on coins ranging from Bitcoin to Iota.
Another staggering prediction from Axes and Eggs Samson Williams is that Dogecoin could rise to around 95 cents by the end of 2018. Although other panelists aren’t so sure about that prediction, they expect the coin to definitely rise or stay flat.
So, here is why we think Dogecoin is here to stay and thrive in 2018.
The social media factor
Dogecoin’s wide adoption can be attributed to its popularity as a meme and a strong community working to keep it running. Among its best use cases is in payments through social media. Since it is a social coin built as a currency for the internet, there’s a good chance social media platforms can adopt it. All it will take for the value of the coin to skyrocket is the integration of the coin into its systems by a major social media such as Facebook or WeChat at some point.
Increasing Listing on exchange platforms
More exchanges have taken an interest in this coin lately. Robinhood, an exchange that offers new investors an entry point into stock markets on their commission-free crypto trading platform recently added Dogecoin to their listing. The announcement brought up the total number of cryptos on Robinhood to five and made Dogecoin/USD price go up by five percent. Listing alongside bigger coins such as Ethereum Classic, Ripple, Lisk, Bitcoin Gold and more, Dogecoin is a serious contender. With an ever-increasing trade volume of the coin, exchanges now offer DOGE to BTC Conversion and vice versa on their platforms.
What the coin offers
Dogecoin (DOGE) gets its support due to the anonymity it offers to its coin transfers in a world where privacy is more or less a privilege. Government regulatory bodies may not like them, but coins that protect user’s privacy definitely stand a chance to thrive in the future. Other features such as fast transaction speeds and simple to install and use wallet make DOGE an attractive crypto to transfer value over internet platforms. Also noteworthy is that it is reasonable to Buy Dogecoin with USD at the moment while its price is still low.
Dogecoin is basically everything that cryptocurrencies like Bitcoin stand for; A crypto-techno-anarchy, not owned or controlled by anyone and is shaped by the market forces. If the future belongs to a decentralized crypto-anarchy, Dogecoin can do really well. Even if the techno-anarchy doesn’t entirely work, the coin will continue to persist without going bust, unlike a stock.