The Fear of Dogecoin on Wall Street

Dogecoin is one of the most popular altcoins in the cryptocurrency world, first released in the Bitcointalk forum on December 8, 2013, when Dogecoin first introduced to the world, its blogs, wallets, forums, and mining pools altogether released with Dogecoin, unlike other altcoins which were just introduction with some technical details at the start of the concept.

Cryptocurrencies are the most non-regulated markets in world digital world, the fluctuation in the crypto world is vital and manipulation of the prices is very easy, the entire encrypted world is not self-regulatory but impacted by the self-organized groups that led to the market crash, however, it is not proved or will known fact but not a negligible one.

Due to Dogecoin’s low price, wider community support and popularity over web communities make it vulnerable for opportunists to defrauded millions of dollars, since its birth the scammers around the web pump the Dogecoin price and disappeared and leave the wider audience of this coin in confusion distrust.

However, its founder refers to this coin as the imitation token but so many people around the world repeatedly speculating on it, chasing it crazily, due to its low price most people promote it, influence other to invest in this coin because only the Dogecoin is eligible for make suitable hype, favored by many types of investors and without government regulation and control, this coin become the casino to make fortune.

According to analysts and experts, every cryptocurrency is actually the consensus and carnival of speculators, major banks, mainstream institution, and major players consider the crypto world is only the hype and speculation, however, Bitcoin makes space because of its limited quantity and anti-inflation properties, but the Dogecoin is far from these aspects.

You can consider the speculation is like the painting designer, as long as wealthy people are willingly recognizing the designer paintings as well as valued them and pay the excessive amount, the designer always gets higher prices, if these painting put on the auctions, some of his designs received an extraordinary amount, the same is true for Bitcoin and Dogecoin. If Bitcoin superficial cryptocurrency then Dogecoin is only the average one and not necessarily jump to the moon.

Those people who have advance knowledge in the crypto world continue to fool others who entered late in the crypto world, they try to suggest latecomers believe in their speculations and leaks, the central idea of their scheme depends on the picking up the leek and speculation by latecomers, decentralization, and endorsement of the world’s richest man, but their scheme is not unsustainable, after every pump and dump the majority of the Dogecoin believers left with an empty hand.

Technically speaking Dogecoin has no limit for issuance, it is the type of castle that builds on the air, in a very short time the block is created in Dogecoin, it is also an indication of the worthless currency, Dogecoin became popular only because of the Musk’s endorsement, the price move with tweets and mouth words, no one accepted Dogecoin for payment and never any institution consider its importance.

https://arxiv.org/pdf/2105.00733.pdf

https://www.wsj.com/articles/what-is-dogecoin-how-to-say-it-and-why-its-no-longer-a-joke-thanks-elon-11612820776

Source: https://medium.com/cryptocurrencies-ups-and-down/the-fear-of-dogecoin-on-wall-street-cff89da5ea96?source=rss——-8—————–cryptocurrency