Like Bitcoin (CRYPTO:BTC), this means complex computational problems must be solved to validate transactions across the Dogecoin blockchain. These factors make Dogecoin unique, and an intriguing investment for many crypto enthusiasts.Д«ecause it was an early crypto entrant, Dogecoin's mining model is based on proof-of-work. I think Dogecoin's mining model, inflationary status, and ties to LitecoinВ (CRYPTO:LTC) are all intriguing. Of course, investors should only invest what they're willing to lose in such speculative assets.ДЈ. This cryptocurrency will undoubtedly provide a roller coaster ride that's fun at some points, and scary at others. Accordingly, those looking to go on an incredible ride may want to put a few dollars to work in Dogecoin. I view Dogecoin as one of the more speculative, and therefore volatile, cryptocurrencies out there. Investors must be willing to weather the storms as they come. Yet, surges and dips driven by fickle sentiment are par for the course. Investing in cryptocurrencies requires a firm belief that a technological transformation is underway, and that crypto will soon remake the world as we know it. Well, holding Dogecoin for any extended period of time can give investors a glimpse of what crypto investing is all about. However, investors looking to get into the crypto game might want to consider Dogecoin as a great option. Indeed, putting any significant amount of money into something that can skyrocket or plummet in short order requires an iron stomach and the right mindset. If another cryptocurrency claims the majority of investors' attention, Dogecoin could get pushed aside.Дogecoin's mountainous volatility during the past year is a deterrent to some investors. However, investors are taking risks with owning a token that has skyrocketed so quickly on the basis of popularity alone. The return DOGE has provided investors over the past year alone is a staggering 9,000%. Of course, the fact that Dogecoin is so popular right nowВ is great. Those investing in DOGE also are banking on more headlines from celebrity hype. As for valuation, Dogecoin is worth what it's worth because others believe the token will increase in value. Given the speculative nature of cryptocurrency, popularity alone is critical. Among the most popular names that have endorsed Dogecoin are Musk and hip-hop performer Snoop Dogg. The Dogecoin sub-Reddit has 2.2 million 'subshibers' (Shiba Inu subscribers) on its page.

Let's dive into three reasons Dogecoin may be considered a reasonable, if speculative, investment today - but also offer some cautionary notes.Д«ack to the high school analogy: If there were a crypto popularity contest, Dogecoin's meme standing would make it a contender.

Of course, with recent endorsements from celebrities (namely, Tesla Chief Executive Officer Elon Musk), Dogecoin has transformed itself from a token of little real-world importance to a Top 10 cryptocurrency by market capitalization. The story behind Dogecoin? Suffice it to say, the founders packed up and sold their stake during one of the early rallies in DOGE, thinking the insanity had gone too far. Second, it's symbol was a picture of a dog. Dogecoin's standing as a farce invited enthusiasts to be a part of Dogecoin for reasons other than money. Investors had fewer options back then, and simply being a part of the crypto environment carried a greater sense of purpose. It has thrived for two main reasons.ДЇirst, it was early to the game. Remember the class joker? You know, the guy sitting in the back of the room with his feet on the desk, blowing bubble gum and constantly visiting the principal's office? The cryptocurrency world has their version of this.Дogecoin (CRYPTO:DOGE) is among the first 'meme tokens' and was created as a joke by its founders Billy Markus and Jackson Palmer in 2013.

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