Here’s how Shibetoshi sees Dogecoin succeeding as a digital currency

0

Billy Markus, the co-creator of Dogecoin, took to Twitter today to suggest that Dogecoin needs to promote itself as a digital currency.

The American programmer argued that “if you want dogecoin to succeed, continue to be relevant, and have a reason and a need to exist, the utility comes from using it, accepting it, and showing others the advantages of doing so”.

With that, Markus urged the community to contribute to the grassroots development of the project instead of creating unnecessary hype. He commented: “Speculation has attracted attention. work brings usefulness.

Also in the past, Markus had declared that “the hype doesn’t last”, only “attracts the get-rich-quick people”. Instead, projects should focus on “lasting value,” the creator had reiterated.

Dogecoin, which was a bitcoin spin-off and arguably the first true “coin,” had gained attention after DogeFather Elon Musk powered his social media. But alongside that, Musk and Markus have often agreed on Twitter exchanges that DOGE is the “popular crypto.” However, the original meme coin continues to draw criticism, especially since it is the twelfth largest crypto.

Arguing that DOGE is just another useless meme token, Markus also commented that “it’s a satirical cryptocurrency made for idiots that has spread haphazardly”. And, in his view, today’s meme tokens”[have] no use cases.

As we recall, Markus considers DOGE to be “fast, scalable, and inexpensive”, contrary to his definition of “shit tokens”.

DOGE recovers

As for the price action of Dogecoin, it has recently seen some recovery along with the broader crypto market. The coin’s major uptick also came this week when Elon Musk asked his followers if a new social media platform was necessary.

In response, Musk seemed to like the idea from the chairman of Boardroom Capital, who suggested buying Twitter and replacing the bluebird with DOGE. With that, Anndy Lian, President of BigONE Exchange, highlighted the impact of the Twitter exchange on the value of Dogecoin:

Over the past week, DOGE prices have risen over 17% and were trading at $0.1447 at press time. Despite this, it remains around 80% below its all-time high valuation of $0.731578 reached last year in May.

Warning

All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.

Share.

Comments are closed.