Dogecoin - why has it not mooned yet?

  • A friend of mine, new to crypto, asked me why Dogecoin has not mooned yet with all its users and trades on the exchanges. I realize that I know hardly anything about this altcoin. Can someone give me a very short rundown please, so I can give him some feedback?

  • @Propagandalf I have this questions too xD I pratically don't know anything about Doge but i think the reason they didn't explode yet, is because they don't have applications related to their system... Ofc they are accepted in a all the exchanges i know and you can pay some things with doge, but i think they don't have any platform made specially for them, they just are listed as accepted coin in a lot of places... I could be wrong but that's my 2 cents xD

  • Doge best point its their community, but to pump, the coin needs more aplications I think.

  • I don't know either. I've heard that Vitalik Buterin has some implication with Doge, but I don't know how exactly.

  • @JotaJota @Gadrah_ @gpedro Thanks for the replies. Now I know a bit more!

  • I always felt that Doge its a joke, because of the name and the logo it uses.

  • admin

    Afaik Doge was a Joke in the beginning but then it gained popularity.
    I think the reason it is not 'mooning' in price is the high inflation rate and no hard cap on number of coins. Price per coin is not everything: they have a very big community and fun with spending their coins. 😉

  • @Propagandalf I went on the Doge wikipedia page and I found this :

    On December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from US$0.00026 to $0.00095,[22] with a volume of billions of Dogecoins per day.[23] This growth occurred during a time when bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing Chinese Yuan into the bitcoin economy.[17] Three days later, Dogecoin experienced its first major crash by dropping by 80% due to large mining pools seizing opportunity in exploiting the very little computing power required at the time to mine the coin.[24]

    On December 24, 2013, The Reserve Bank of India cautioned users of Dogecoin and other cryptocurrencies on the risks associated with them.[25] On December 25, 2013, the first major theft attempt of Dogecoin occurred when millions of coins were stolen during a hacking attempt on the online wallet platform Dogewallet.[26] The hacker gained access to the platform's filesystem and modified its send/receive page to send any and all coins to a static address.[27][28] This incident spiked Tweets about Dogecoin making it the most mentioned altcoin on Twitter.[29] To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who lost them. Approximately one month later, enough money was donated to cover all of the coins that were lost.[30] By January 2014, the trading volume of Dogecoin briefly surpassed that of bitcoin and all other crypto-currencies combined.[31] As of 25 January 2015, Dogecoin has a market capitalization of USD 13.5 million.[8] April 2015 Jackson Palmer announced he is taking an "extended leave of absence" from the cryptocurrency community.[32]

  • Now, I understand why DOGE is so popular. It's community is so tight (like us). But, its implications is its cap market. It will go to the moon if they modify their supply and demand. (I think) o.0

  • The best thing for a crypto is the community. People using the coin, and really promoting her is the key to a long life. If Doge stays this way, anytime someone will do something for it and ... pump. That's one of the things that makes me believe in Burst. I'm fucking loving this coin, and I see the same feeling in the other members of this forum. We're writing history folks.