Altcoins have not been performing very well in the last 24-hours. While this is causing anxiety in the market, it need not to. To thrive in this market, one needs to have a very long-term view of things. That’s the only way to identify projects that make sense and hold to them, without being shaken by short-term price fluctuations. With a long-term view of the market, and an understanding of the fundamentals of individual coins, it becomes easier to hold, and even better, buy the dips whenever the market corrects. It is this approach to markets that have enabled legendary investors like Warren Buffet to survive and get very rich from the stock markets. A crypto investor taking a similar approach would be moving to accumulate whenever the market dips. Rather than panic, they would see dips as opportunities to accumulate. One crypto that is worth accumulating in this market, is Dogecoin (DOGE).
Ideally, Dogecoin (DOGE) is not meant to be hoarded. Actually, no crypto should be hoarded. Hoarding only creates volatility in prices. That aside, Dogecoin (DOGE) is one of the few cryptos that people are willing to spend. As this spending culture becomes more prevalent in the Dogecoin community, its price will stabilize. With stability, more merchants will be willing to adopt it, and help drive up its demand. The result is that, its price is likely to remain positive over the years. The argument that is often used against this scenario is that, Dogecoin has a very high supply. However, this doesn’t really matter when its adoption is growing. For context on this, one needs to look at the price of Dogecoin (DOGE) since January 2018. While the entire market has been on a downward spiral, Dogecoin (DOGE) has performed way better than most altcoins that have a much lower coin supply, and are deflationary. This is a good pointer that coin supply doesn’t really matter, as much as the demand.
Secondly, Dogecoin (DOGE) happens to be one of the most decentralized cryptocurrencies. So decentralized is Dogecoin (DOGE) that in the past, it has failed to make it through into exchanges whose listing criteria requires a centralized team. So, does this matter? The decentralized nature of Dogecoin matters a lot. For starters, it makes it secure. The more decentralized a cryptocurrency is, the lower the possibility of it getting successfully attacked. By extension, this makes Dogecoin (DOGE) reliable, which is important to merchants. In essence, it will play a huge role in the long-term adoption, and value growth of Dogecoin (DOGE). Decentralization also makes it attractive because users know that transactions cannot be censored. This makes it safe for transactions, in the knowledge that no one can get in-between a transaction except the parties involved.
With all these amazing fundamentals, Dogecoin (DOGE) has a real chance of making it big in the long run. By ignoring the short-term price movements, Dogecoin (DOGE) makes lots of sense to invest in, with the long-term in mind. It’s future is bright.