Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.įaizan Farooque is a contributing author for and numerous other financial sites. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. If you still want to invest in DOGE to take advantage of the occasional celebrity bump, make sure you are investing only a tiny portion of your portfolio. Those are the ones that have the potential to gain widespread acceptance. If you want to invest in crypto for long-term returns, it is better to look into coins with solid use cases. However, in the case of Dogecoin, the returns are based solely on speculation and nothing else. These can be purchased from official producers or resellers. The Bottom Line on Dogecoinĭogecoin does have one thing in common with more established digital currencies like Bitcoin, and that is the potential for high returns. In order to most profitably mine Dogecoin, you need to get ASIC machines designed for scrypt-based mining. And continued upgrades are likely to coincide with further runups in the cryptocurrency. It has begun moving to proof-of-stake (PoS) from a proof-of-work (PoW) concept. Meanwhile, Ethereum is charting its path with smart contracts, which will revolutionize the way we view finance. Several prominent financial institutions accept Bitcoin as a form of payment, giving the world’s most-popular cryptocurrency legitimacy. Meanwhile, Dogecoin lacks the real-world use cases of coins like Bitcoin (CCC: BTC-USD) and Ethereum (CCC: ETH-USD). Investors see their investment diluted with each new block reward. The cryptocurrency has no supply limit and a large block reward. 15, there were more than 132 billion Dogecoins in circulation. However, the lack of true fundamental catalysts is problematic.Īs of Nov. With a market cap of $28.8 billion, it is currently the 11th most valuable cryptocurrency. Dogecoin Lacks Real-World Catalystsĭogecoin has distinguished itself in part by the fact that many traders know it, while thousands of other digital coins languish in relative obscurity.
CHANGE DOGECOIN CORE BLOCK LOCATIONS UPDATE
While Dogecoin could experience another pop once the update is launched, it’s likely to be short-lived. However, it has since fallen to around 22 cents.ĭevelopers have said the update is nearing completion, but there is no definitive release date yet. Investors celebrated news of the update by pushing the meme coin to 30 cents on Nov. The update will also reduce transaction fees by 99%.
CHANGE DOGECOIN CORE BLOCK LOCATIONS UPGRADE
The upcoming Dogecoin Core 1.14.5 upgrade is expected to lower transaction fees and improve performance.Īccording to the GitHub note, the update is a “new minor version release, including important security updates and changes to network policies” recommended for all users, including miners and operators that run Dogecoin Core on their system.
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