The coin has been able to multiply 10x in value in the past few months. This was a shocker for both the investors and also the developers. A lot of changes were introduced, one of which was the rebranding of Terra Luna as Terra Luna Classic. As a result, the central crypto community always hated Dogecoin and avoided this coin. They say that Dogecoin was created as a joke and should be treated as such.

Terra Luna Classic (listed as LUNC) has been making headlines again, but this time for a good reason. The crypto coin has been able to do a massive recovery (all thanks to new policies and stringent actions taken by the team). According to the Federal Reserve, the top 10% rich in this country controls 70% of the wealth. In contrast, the bottom 50% of people hold only 2% of the USA’s wealth.

You can invest your cryptos in the proof-of-stake blockchain and earn 3% to 13% as a staking reward. Each of the points discussed below is the reason investors are avoiding Dogecoin. Without enough money flowing into this crypto, its price will not rise. In short, other than being a cryptocurrency, Dogecoin has no utility.

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Tesla bought Bitcoin even though Elon Musk is the biggest proponent of Dogecoin. Every crypto exchange in the world supports Bitcoin and Ethereum trading. Bitcoin miners can’t mine Ethereum or vice-versa with the same hardware. It’s primarily to encourage Litecoin miners to support Doge blockchain. The prolonged spike of the coin could also mean that it is about to end.

• Bitcoin miners can’t mine Ethereum or vice-versa with the same hardware.
• He is the wealthiest person in the world, but we are not.
• There are high chances that the coin might be sold at a higher price once it is listed on the exchange.

It’s why investors are avoiding this, and as a result, its price is going nowhere. Tamadoge is one of the many new and promising coins that have entered the crypto market this year. Tamadoge is a Play-to-Earn platform in which players are supposed to raise their pets and prepare them for battles with the pets of other players. Unlike a game niched down just for gamers, it is suited to and can be enjoyed by almost anyone. Coins are burnt when they are sent from a crypto wallet to a burn wallet.

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Without the top 10%, Dogecoin’s price would go nowhere. Elon Musk can buy millions of Dogecoins and hold them for 10 to 15 years. He is the wealthiest person in the world, but we are not. On the contrary, Dogecoin has no smart contract; it’s inflationary, and a handful of businesses accept it. Terra Luna Classic is on a bullish run during, what appears to be, a bearish market.

Bitcoin is now considered digital gold, and Ethereum has a versatile use case and the second most popular crypto. Moreover, Polkadot and Ethereum will allow us to earn staking rewards. As it appears, the decision to burn the tokens is working in favor of Terra Luna Classic. Tamadoge, although a fairly new coin, has also managed to become a hot investment option for investors. You can read the full whitepaper and roadmap at Buy.Tamadoge.io. These rewards are in the form of Dogepoints which can be converted into TAMA, thereby offering investors a good return on their investment.

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This mentality may change in the future, but until then, no one would take Doge seriously.

• The current bull run, if continued, might help the coin cross the $3 billion mark within a few months.
• Terra Luna Classic has been able to make huge strides in growth, especially after the terrible crash.
• Without the top 10%, Dogecoin’s price would go nowhere.
• These rewards are in the form of Dogepoints which can be converted into TAMA, thereby offering investors a good return on their investment.
• They believed that cryptocurrency is absurd and no one should take it seriously.

Whereas, Dogecoin is the worst crypto as a store of value. Everyone knows that Billy Markus and Jackson Palmer started Dogecoin as a joke. They started this coin to mock Bitcoin, Litecoin, and other cryptos. They believed that cryptocurrency is absurd and no one should take it seriously. Billy Markus and Jackson Palmer created Dogecoin to make fun of cryptos.

Not Store of Value:

This has been accepted by the biggest crypto exchange platforms like Binance and Kucoin. This would mean the burn strategy would run at full throttle. If the trend continues, it will be able to reach its destined value point of $0.0005 by the end of the month, if not earlier. Bitcoin and Ethereum are the most widely accepted cryptos in the industry.

However, Dogecoin purchasing options are minimal, especially in the US. Except for a few, most of the https://cryptolisting.org/coin/pac exchanges don’t carry this coin. Thus, even if many people want to invest in Dogecoin, they can’t.

They convert their newly minted coins into Bitcoin, Ethereum, or other cryptos. Even though Ethereum and Polkadot are inflationary, these networks burn coins on various occasions, reducing the number of cryptos on the blockchain. If I have money and my options are Dogecoin, Bitcoin, Ethereum, I will choose Bitcoin, Ethereum, and Polkadot over Dogecoin.