Currency has always been varying from place to place and changing in terms of design, value hiking up and going down with the constant changing political rules and regulations too. In the past few years the world has been changing digitally and ever since, the term cash is rarely used even while speaking and even more rarely for money transactions. Money transactions has been becoming digitised money ever since digital currency came into the market. It has been rising even more since the rise of Bitcoins. But what is this dogecoin everyone is talking about? It has a nice ring to its name too.
Dogecoin, the name is derived from the world famous meme Doge with the logo inspired from the Shiba Inu dog breed. Dogecoin was introduced as controversy and a joke expecting to achieve a broader market capture than Bitcoin. This even led to its nick name “joke currency” but now the whole world is talking about it seriously, what an irony.
Why does dogecoin keep increasing now? Following are few reasons:
Makes Life easier:
Everybody wants to have digital money as it is easier for transactions, records free, no hands on experience needed, easy to understand, faster way to make money but at present there are many digital currencies out in the market and Bitcoin is expensive.
Wish everyone one of us had the chance to buy Bitcoin at its baby stages. People find Bitcoin expensive and when they hear the name dogecoin, it immediately sounds like “Yeah, I have heard about it. Why not buy it as its less expensive than Bitcoin”.
Young generation wants to change for the better:
With changing technology and new gadgets coming into the market every day, every new young teen who are tech savvy especially wants to make a difference in the world and prove themselves thus allowing them to explore new opportunities in all kinds of industries and medium that makes them look like all know type of person.
They find this new trend of digital currency which the whole world is talking about as a means of showing the wold who they are. As seen and said dogecoin Is less expensive and feasible to use than Bitcoin. Teens are more likely to take the chances.
Everybody deserves a second chance:
Bitcoin has revolutionized the currency as we knew and with its rise everybody felt regret as for not buying their coins at its initial stages as a reason of lack of confidence in its rise or lack of trust in its security and privacy. Now everyone wants a piece of it but can’t afford it. When this the case then everybody looks for an alternative to Bitcoin leading them to dogecoin which has been rising up rocket high in terms of its value and trust in its security in a very small period of time.
When the whole world keeps talking about dogecoin, its automatically gives rise for the people to try them, buy them which in turn expands the market of it too.
Internet as a marketing medium:
There is also this one major internet eye-catcher through which everyone gets the idea to buy dogecoin and contributing their part to its rise too. It is none other than reddit. People come to reddit for various reasons and always find their solution. When they see lot of people talking about this cryptocurrency and also buying them, it automatically brings a sense of belonging to the viewer and the curiosity to buy them and talk about it in reddit as a part of their share too. This has even allowed reddit and dogecoin to collaborate leading some reddit users to get a certain amount of free coins. Lucky people you would say.
Value in the future:
People believe that the value of dogecoin will one day arrive at $1 which also paves a path for them to believe that when it does they will be having the opportunity to live a luxurious life and if it fails, then immediately sell out what you have in hand as crypto coins and what is left is still profit to you. It’S a win win situation for you.
Media and their role plays:
Media plays one of the major role in the rise of cryptocurrencies In general and especially dogecoin. Most people in the world love to talk about everyday trends and the media uses this as an opportunity to make dogecoin a king in the eyes of people who are willing to try and buy something new thus forming a community of their own expanding the market.
Cryptocurrencies have a lot of benefits and have been helping the world to be a better place with their attractive and ergonomic features. In the foreseeable future it is going to change the wold even more. What matters is if people are willing to take the chance and buy them and be a part of that community too.