Dogecoin Price Drop: What Should Shibes Do?

Dogecoin price drop: Dogecoin still on the way to the moon or to the dump?

Firstly, stop panicking!! Oh no else is panicking here? Never mind … but listen, Dogecoin price hasn’t been the rocket many hoped it to be. Think about it – folks who bought in around 100 satoshi mark today have their wealth halved. That can never be a pretty feeling. Sure, you get to hang around with other Shibes and that’s the price you paid, but what really should be done?

Don’t panic: The world of cryptocurrency is very volatile. Remember the time when cryptocurrencies would rise by a steady 1-2% per day? Yeah, me neither. Fundamentally,

  • Tipping culture is alive and well: Open a random thread from Reddit Dogecoin. Go ahead, I’ll wait. Really random. Notice the tips? Me too! There they are! The tipping culture around Dogecoin is alive and well. It isn’t going away anytime soon. It might just become the default tipping currency of the net even now. That dream is alive and well too.
  • Newbie Friendly: Dogecoin still remains by far the friendliest place for newbies in cryptocurrencies. You could do the noobest thing possible and you’ll still be tipped for trying. Only with Dogecoin. If you don’t believe me, try posting how incredible you felt when you opened your Dogecoin/Bitcoin keychain you bought in the park and come back here to report the results in r/Dogecoin and r/Bitcoin. Go ahead and try.
  • Innovation Diffusion: Whatever innovation happens in Bitcoin that is looking to expand into other altcoins, would benefit Dogecoin the most. Why? Because it is the only altcoin with a profile much different from Bitcoin (among the altcoins that matter). The people who own Dogecoin are least like the people who own Bitcoin (as opposed to say Litecoin). This means innovation looking to reach the most diverse audience would naturally graviate towards Dogecoin. People diversity is good news for Dogecoin.

So why the F is the price dropping, Sailor? 

Firstly, we’re in Dogecoin territory. No swearing Shibe! Secondly, I believe it has a lot to do with media attention to Bitcoin and cryptocurrencies in general. Dogecoin shines when new people want to learn about altcoins, cryptocurrencies and even Bitcoin but want a friendlier place. Dogecoin is perfect during those times. The peaks of Dogecoin, in fact, would correspond to the media peaks of Bitcoin, not media peaks of Dogecoin! That’s why even when Josh Wise sailed away (err drove away, sorry mate) on his DogeCar, the price hardly budged. Were you surprised? Well … Remember – more people who come into the cryptocurrency fold, more the importance of Dogecoin.

It might help if somehow Dogecoin pushed the boundaries not just in the social realm of cryptocurrencies but also in the technical realm. Merge-mining with Litecoin was a good option, I feel, that was rejected. What the community needs is some kind of novelty that the world of cryptocurrency hasn’t seen before. Until then, keep tipping and keep charity-ing!

Dogecoin Tips: D9BHLAWFZdMjUxU3G7gg3issRZGEwCB8jx

One thought on “Dogecoin Price Drop: What Should Shibes Do?”

  1. Good article,

    I won’t be buying more dogecoins untill merged-mining or a similar solution is implemented. That and the implementation of tipping at twitch are two milestones to take I think.

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