What is the future of Dogecoin, now so it 's been around for almost a year and we've seen wild fluctuations in prices? Can Dogecoin survive and thrive and make a distinct segment for itself within the crypto-currency space or could it be doomed to oblivion?
To answer where the future of Dogecoin lies, we first need to check out what makes Dogecoin special and why it's in the most effective 10 market caps in the first place. On the technical side of things, Dogecoin is another Litecoin clone with different parameters, therefore it cannot sustain itself predicated on technical innovation. So what makes it popular in the first place?
Dogecoin started as a meme-based joke currency but everything around it became popular and today it has a huge community of supporters around it. It is this community that Dogecoin needs to leverage in order to be relevant in the future. That's Dogecoin's most important strength, without which, it doesn't stand much of the opportunity in the brutal world of crypto-currencies.
What made Dogecoin special was that folks didn't bring it very seriously, and therefore it became an incredibly popular tipping tool on Reddit and the remaining portion of the internet too. Then there were many projects started by enthusiasts around Dogecoin, and people felt safe experimenting in this sphere. Dogecoin therefore has value provided that it could sustain this concept of being a safe experimentation haven while being generous.
The ongoing future of Dogecoin will therefore depend how these community bands together and works on future projects that'll benefit the currency. There are lots of works happening and it's hard to judge their feasibility in the true world. However, town needs to remember what makes Dogecoin special and not allow that slip away because competition in this space could be fierce.
Dogecoin also did a lot of newsworthy things such as funding an Olympic bobsled team and other charity work. This gave it a lot of attention and also a nice increase in price. However, now that the news headlines cycle has died down, the buying price of Dogecoin can be steadily coming down, from a peak of 220 odd satoshis to under 130 satoshis. This will probably fluctuate, but you get an idea of where things are headed. Dogecoin community needs to take more initiatives around this currency and ensure it still remains relevant and newsworthy for both temporary and the long term.
Remember also that the entire world of cryptocurrencies is extremely volatile and it's very difficult to predict the future of Dogecoin or some other currency. The community needs to focus on the strengths and develop from there, which will be the only method to boost the probability of success in the future.