{"id":17207,"date":"2022-05-19T01:07:21","date_gmt":"2022-05-19T01:07:21","guid":{"rendered":"http:\/\/egrowonline.com\/?p=17207"},"modified":"2022-05-19T01:07:21","modified_gmt":"2022-05-19T01:07:21","slug":"assessing-how-dogecoin-doge-has-changed-since-its-ath-last-year","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=17207","title":{"rendered":"Assessing how Dogecoin [DOGE] has changed since its ATH last year"},"content":{"rendered":"


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Dogecoin [DOGE]<\/a>, at its best, can be described as a blockchain with use cases particular to payments and transactions. According to many, the crypto has nothing more to offer. Without any DeFi capabilities, the existence of DOGE is just a joke, a joke that DogeFather continues to propagate.<\/p>\n

Dogecoin \u2013 The king of memecoins<\/h4>\n

For some, Dogecoin\u2019s co-creator does not hold the right to call any other currently existing meme coin as a means to make founders rich. Especially since Dogecoin began that trend, even if the Foundation does not hold the majority of the supply.<\/p>\n

Even though the likes of Shiba Inu<\/a> are equally unworthy to many, the alt does have some use cases. Especially in the form of DeFi, staking, lending, and even extending to the Metaverse.<\/p>\n

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$doge<\/a>: made 8 years ago as satire of the cryptocurrency scene and how many dumb coins exist, at a time when the scene took itself super seriously. got popular despite this. founders made barely anything.<\/p>\n

current \u201cmeme\u201d coins: made to make founders rich.<\/p>\n

we are not the same.<\/p>\n

\u2014 Shibetoshi Nakamoto (@BillyM2k) May 17, 2022<\/a><\/p>\n<\/blockquote>\n

But, what matters the most is if Dogecoin, just as an investment vehicle, is actually even a good option. And, the answer is a big NO.<\/p>\n

Except for being a hyped-up token back in May 2021, DOGE had no other real value. Also, the people who invested in it then only did it out of FOMO.<\/p>\n

Today marks one year since the crypto\u2019s ATH. DOGE, at press time, was 87.25% below the 60 cent-mark. In fact, going forward, the altcoin\u2019s ROI is only expected to get worse.<\/p>\n

\"\"<\/a><\/p>\n

Dogecoin price action <\/em> | Source: TradingView \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

Upon comparing DOGE\u2019s one-year return on investments to popular cryptos such as Bitcoin<\/a>, Ethereum<\/a>, and XRP<\/a>, it can be stated that the memecoin is on the opposite end of the spectrum.<\/p>\n

Back in May 2021, DOGE\u2019s ROI exceeded every other cryptocurrency\u2019s ROI by almost 10x. Alas, the same, at the time of writing, was the lowest when compared to the aforementioned cryptocurrencies.<\/p>\n

\"\"<\/a><\/p>\n

Dogecoin ROI <\/em> | Source: Coinmetrics \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

However, DOGE investors have always had a hint about the token\u2019s impracticality. This can be observed by looking at the absence of these so-called holders.<\/p>\n

Dogecoin is one of the only few altcoins to note such consistency in the exit of investors.<\/p>\n

Active, but for the wrong reasons?<\/h4>\n

In early-March 2022, long-term DOGE investors did show some levels of activity, but not for the right reasons. Approximately 770k DOGE holders ended up exiting the market within a timeframe of just 24 hours.<\/p>\n

The void formed by the exit of these market players has left a significant impact. This can also be interpreted as a sign that it has nothing new to offer at the moment.<\/p>\n

\"\"<\/a><\/p>\n

Dogecoin investors <\/em> | Source: Coinmetrics \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

However, DOGE has found utility as a means of payment. Ergo, there is a possibility that it might continue to be used by its 3.88 million users in the near future.<\/p>\n<\/p><\/div>\n


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Dogecoin [DOGE], at its best, can be described as a blockchain with use cases particular to payments and transactions. According to many, the crypto has nothing more to offer. Without any DeFi capabilities, the existence of DOGE is just a joke, a joke that DogeFather continues to propagate. Dogecoin \u2013 The king of memecoins For […]<\/p>\n","protected":false},"author":1,"featured_media":17208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[2074,2076,7823,291,85,547],"class_list":["post-17207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-assessing","tag-ath","tag-changed","tag-doge","tag-dogecoin","tag-year"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/doge-g9ba2ca95a_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17207"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17207\/revisions"}],"predecessor-version":[{"id":17209,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17207\/revisions\/17209"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/17208"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17207"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}