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Billy Markus, Dogecoin’s co-creator, said on Twitter today that Dogecoin should promote itself as a digital currency.
Markus has previously remarked that “hype doesn’t last,” and that it merely “attracts get rich quick folks.” Instead, efforts should be focused on “long-term value,” according to the developer.
Meme coin: People’s coin
After DogeFather Elon Musk fueled its social media following, Dogecoin, a bitcoin spin-off and probably the first true “meme coin,” gained traction. However, throughout Twitter interactions, Musk and Markus have frequently agreed that DOGE is “people’s crypto.” However, despite becoming the twelfth-largest cryptocurrency, the original meme coin continues to draw criticism.
“It’s a satirical cryptocurrency built for sillies that randomly caught on,” Markus added, arguing against DOGE being merely another meaningless meme token. He also argues that meme tokens today “have no use case.”
In contrast to his definition of other tokens,’ Markus views DOGE to be “fast, scalable, and affordable.”
ALSO READ – Top 3 Cryptos to Buy in 2022 – Binance (BNB), Solana (SOL) & Secure Crypto (SECR)
Doge is going strong
When it comes to Dogecoin’s price, it has recently recovered along with the rest of the cryptocurrency market. Elon Musk asked his followers if a new social networking platform was needed, prompting the coin’s big increase this week.
Musk seemed to like the suggestion of the Boardroom Capital chairman, who recommended buying Twitter and replacing the bluebird with DOGE as a reaction.
Anndy Lian, Chairman of BigONE Exchange, made a point on the effect of the Twitter exchange on Dogecoin’s value.
DOGE prices have risen by approximately 17% in the last week and were trading at $0.1447 at the time of publication. Despite this, it is still trading at about 80% below its all-time high of $0.731578 set in May of last year.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
