Dogecoin Faces Tough Competition As New Memecoins Enter The Fray
Dogecoin Faces Tough Competition As New Memecoins Enter The Fray
https://bitcoinist.com/dogecoin-new-memecoins-enter-the-fray/
Dogecoin, the internet’s beloved memecoin, has been on a roll since its inception in 2013. With its quirky dog logo and humorous backstory, DOGE has captured the hearts of millions of people around the globe.
Its popularity has only soared higher, fueled by celebrity endorsements, including the likes of Elon Musk and other high-profile figures. However, as the world of cryptocurrencies continues to evolve, Dogecoin’s status as the king of memecoins seems to be under threat from the emergence of new, exciting competitors.
The question on everyone’s mind now is, what will become of Dogecoin?
Dogecoin Stuck Amid Surge In Memecoin Hype
Memecoins are digital currencies that are based on popular memes and internet trends, and they have taken the market by storm in recent years.
Dogecoin, with its cute Shiba Inu dog mascot, has been the undisputed king of memecoins for years. However, it appears that its reign may be threatened by the rise of new memecoins that are taking over the market by storm.
In the last few days, there has been a surge in memecoin hype, with investors pouring money into new and upcoming coins. However, to the surprise of many, “OG” memecoins like Dogecoin barely received any attention.
This is because newer memecoins such as PEPE have been stealing the spotlight. PEPE is a new memecoin that is based on the popular internet meme of the same name. It has been gaining a lot of attention on social media, and its value has been skyrocketing.
Dogecoin’s price, according to CoinMarketCap, currently sits at $0.0803. In the last 24 hours, the cryptocurrency saw a modest rally of 0.14%, but over the course of the past seven days, it experienced a slump of 4.46%.
Dogecoin On-Chain Volumes Show Signs Of Rejuvenation
Dogecoin has seen a rise in demand over the past seven days, as evidenced by an increase in the total number of holders. This suggests that traders are buying the dip, indicating that they have faith in the cryptocurrency’s long-term potential.
In addition, on-chain volumes, which had previously dropped to a weekly low, have shown signs of rejuvenation, further reinforcing the idea that interest in Dogecoin is on the rise.
Despite the challenges Dogecoin has faced, such as heavy outflows during the 2022 crypto winter, it has managed to maintain a strong market cap, currently sitting just over $11 billion.
Dealing With The Rise Of Memecoins: DOGE’s Future
As the rise of memecoins continues to steal the spotlight from pioneering memecoins, the cryptocurrency will have to navigate a highly competitive market to maintain its relevance and popularity.
Attention all #DOGEARMY! Help us convince @Starbucks to accept #dogecoin! It’s time to show them what we’re made of And don’t forget you can get 3% back in doge rewards if you use your #DogeCard at #Starbucks.#StarbucksxDogecoin #ToTheMoonAndBack pic.twitter.com/bU2gCTEGfi
— The DogeCard (@TheDogeCard) April 25, 2023
However, with the backing of high-profile endorsers and a strong community of supporters, Dogecoin may yet have some tricks up its sleeve. Devs may also increase the coin’s utility and implement new features to keep the hype alive, creating new use cases that could further enhance the cryptocurrency’s value proposition.
-Featured image from The Currency Analytics
via Bitcoinist.com https://bitcoinist.com
April 28, 2023 at 02:35PM
0 notes
🎁 Airdrop Link ➡️ https://ift.tt/bdDIjA9 🕰️ Don't miss out, this offer is limited time⏱ ✅ Dogecoin is a decentralised cryptocurrency based on the doge meme. #Dogecoin #Dogecoin_Token #Dogecoin_AirDrop ✅ Dogecoin is a cryptocurrency featuring the shiba inu dog, "Doge". Introduced as a joke, dogecoin quickly developed its own online community. Today, JC discusses more information about Dogecoin and how it has been used in the past. Disclaimer: Informations provided in this video does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Do your own research (DYOR) and consult your financial advisor before making any investment decisions. #️⃣ HASHTAGS: dogecoin, doge, elon musk, bitcoin, dogecoin news, ethereum, dogecoin price prediction, dogecoin update, dogecoin news today, dogecoin breaking news, cryptocurrency, crypto, shiba inu, dogecoin price update, doge news, doge price, dogecoin today, buy dogecoin, dogecoin latest news, dogecoin price, doge latest news, doge news now, dogecoin tweet, dogecoin breaking news now, doge update, buy doge, doge news today, elon musk tweet, shiba inu news now, bitcoin news, shiba inu price, dogecoin прогноз, coinbase, final stand, btc, binance, dogecoin to the moon, eth, догикоин, to the moon, blockchain, cardano, coin, michael saylor, dogecoin прогноз 2023, mark cuban, token, robinhood, dogecoin обзор, илон маск догикоин, tesla, elon musk dogecoin, dogecoin криптовалюта, криптовалюта dogecoin прогноз, биткоин, dogecoin price target, cz, dogecoin news update, dogecoin 2023, shiba inu news today, криптовалюты, investing for beginners, floki price, догикоин прогноз, прогноз, криптовалюта, twitter, floki inu, крипта, заработок, accept dogecoin, инвестиции, shiba inu coin news today, pancake swap, uniswap, smartchain, bnb, ada, hosky, sundae swap, doge to 1 dollar, hot wallet, cold wallet, diamond hands, tesla for doge, dogecoin elon, shiba inu coin prediction, metaverse, valhalla, doge coin, floki, shiba inu coin, shiba inu price prediction, floki news, floki valhalla, kevin oleary, dogecoin day, dogecoin analysis, dogecoin doge day, doge analysis, dogecoin analysis today, tothemoon, dogecoin latest news update, dogecoin июнь, dogecoin прогноз на июнь, doge day, dogecoin прогнозы, investing, trading, elon, baby doge coin, dogecoin prediction, прогноз криптовалюты dogecoin, прогноз dogecoin июнь, crypto investing strategy, догикоин прогноз 2023, dogecoin майнинг, #dogecoinанализ, #dogecoinпрогноз2023, курс dogecoin прогноз, currency.com официальный канал, #dogecoinпрогноз, xrp, meet kevin dogecoin, трейдинг, криптоновости, shiba inu coin news, how to buy shiba inu coin, новости, shiba inu news, how to buy shiba inu, shiba, day trading for beginners, цена, илон маск, coin post, dogecoin price analysis, dogecoin crytpo, dogecoin crypto update, финансы, когда doge по $1, shiba inu token, crypto currency, shiba inu crypto, ripple, sec, shibu inu, money, investment, much wow, dogecoin song, etf, stonks, how to get rich, millionaire, herrfuchszurich, son durum, para, borsa, yükseliş, meme, etheryum, kripto, son dakika, altcoin, рипл, güncel, teknik analiz, fun crypto song, bakkt, doge memes, блокчейн, snl, dogecoinmillionaire, halving, уполовинивание, памп, халвинг, cryptowallet, dogearmy, baby yoda song, area 51, dank memes, spacex, dogefather, hodl, разворот, рост, hold it, кризис2020, кризис, майнинг, майнеры, game stop, mining, stock market, covid-19, буллран, туземун, bitmain, asic, wallstreetbets, jaime rogozinski, wallstreet, dogecoin price prediction hindi, dogecoin price prediction 2024, snoop dogg, dogecoin coin news today, shiba coin, shiba inu latest news, shiba inu future, shiba coin news today, baby doge coin future, baby doge news, dogecoin pump, dogecoin price pump, dogecoin twitter, tesla accepts dogecoin, baby doge price prediction, baby doge coin update today, doge монета, doge мем, , илон маск doge, илон маск dogecoin, илон маск и doge, лучший мем токен, обзор dogecoin, dogecoin монета, криптовалюта doge, мем монеты, какой мем токен купить, мем токены, dogecoin news now, michaelsaylor, kriptograt, 1$, fed faiz, haber, hedef, doge binance, yorum, açıklama, abd, doge token, analiz, dogetoken, pump, tweet, yükselecek mi, haftalık kapanış, amazon, dogecoin , догикоин кран, , dogecoin dogecoin, dogecoin, dogecoin airdrop, dogecoin новости сегодня, dogecoin 2023 elon musk, jeff bezos, dogecoin amazon, 6 temmuz, elonmusk, dogecoin что это, dogecoin новости, ftx, tesla car, tweets, mkbhd, what is bitcoin, dogecoin meme, doge meme, ethereum news today, dollar, dogecoin tweets, what is dogecoinDogecoin is a decentralised cryptocurrency based on the doge meme. by Trustpad Airdrop
0 notes