In less than five months, Dogecoin (DOGE) will be celebrating their fifth birthday and a lot has passed under the water after the coin hitting zero volumes for three days five years ago on 15th December 2013. The last five years have seen the meme coin achieve major milestones. So, what makes the joke hold in the middle of an overcrowded crypto verse?
Classified among the risky coins to hodl, Dogecoin has its own “intrinsic” value; a vibrant and passionate community and a strong and yet underutilized real life use cases. These two values have been holding the coin together and exploiting its core real life use case of “tipping app” is driving the coin mainstream.
Dogecoin Internet Tipping Vision
Tipping for internet ardent users has been ignored for many years and Dogecoin vision of tipping this audience continues to attract a sizeable following with many forming the Dogecoin community as clearly stated by their website:
“One of the most popular uses for Dogecoin is “tipping” fellow internet-goers who create or share great content. Think of it as a more meaningful “like” or upvote, with real value that can be used all across the internet.”
The DOGE market uptake has surprised many including the creator. What started a fun-meme inclined coin has turned into a multi-million coin in a span of less than 5 years. DOGE has no mining limitations and has an amazing circulation of 115.8billion DOGE and at the time of compiling this report, each coin is worth $ 0.002303.
The Dogecoin market approach as a meme coin has attracted a community of a popular pop-culture. However, the coin has taken a back seat on social media, most of its twitter posts are a true reflection of what the coin is all about and its position in the market.
Exit the Dogecoin Fun Bit
After the 2013 DogeWallet hack where millions of the coin was stolen, the community fundraised to bring back the platform life. The success of the fundraiser transformed the platform into a new network focusing on giving back to the community. The SaveDogemas fundraiser managed to rise more than what was stolen.
To date, the Dogemas have been able to fund various water projects in East Africa, supported Olympic athletes and given support to Josh Wise, a NASCAR retiree. With these marketing strategies, the coin has continues to thrive to transition from just a meme coin to a more real life solution provision.
Dogecoin (DOGE) Future
Though many see it as a controversial move, Dogecoin is increasing its value proposition and adoption through the Dogethereum transaction bridge. This is an easy hit adoption strategy that will see DOGE coins seamlessly move through the Ethereum ecosystem.
The bridge live demo of the integration is set for September 5 after which dApp developers can have access to the system. However, there are several features still being worked on and the team is confident of meeting the set deadline.
Dogecoin (DOGE) Market Performance
The DOGE price has been rollercoaster in August that has seen it unpredictably oscillate between the green and red trading zones. However, the community is optimistic of a possible breakout after the Dogethereum launch which might spur DOGE and ETH price north after the launch.
At press time DOGE coin was trading at $0.002303 with a 24-hour drop of 4.05%. This is not an isolated drop given 75% of all coins in the top 50 are trading in the red. However, Dogecoin low price has worked for its recent adoption and this might send the coin skyrocketing after Dogethereum project goes live early September.