Dogecoin started off as a joke, and to some investors, Dogecoin is still a joke. However, the reality is quite different. Dogecoin is the furthest thing from a joke, and its rich list proves it. From a look at the Dogecoin rich list, there is an address that holds $23 million worth of Dogecoin (DOGE). Several other accounts hold millions of dollars’ worth of Doge. These are wealthy people, and smart investors too. If Dogecoin were a joke, no one would be holding millions of dollars’ worth of it. At least not when there are many other cryptos where one can park that money, Bitcoin (BTC) being one of them. This is an indicator that investors do believe in Dogecoin as an investment.
But it’s not just its rich list that makes Dogecoin (DOGE) a worthy investment. A look at its history all through the 2018 bear run shows that it is a serious investment. All through the bear run, Dogecoin is one of the cryptos that have maintained an element of price stability. Anyone who held Dogecoin from January 2018 to December is in a far better position than anyone who held the more “serious” altcoins in the same period. In fact, in Q3, Dogecoin started gaining positive momentum and maintained it all through into Q4. This is a good indicator of a crypto that has strong demand in the market.
For someone contemplating on whether to buy Dogecoin (DOGE) or not, one of the parameters to gauge its seriousness as an investment is its level of usage. While most cryptos are only used for exchange speculation, Dogecoin’s volumes come from real world merchant usage. More than 95% of this crypto’s usage comes from real world usage, and not from speculation. This not only assures this coin of long-term growth and adoption, it also guarantees it of stability. No wonder it has weathered the bear market as a one of the most stable currencies. As more people get to learn of its stability, volumes will continue to rise, which makes it a prime candidate for exponential growth in the next bull market.
Most importantly is the decentralized nature of Dogecoin (DOGE). Dogecoin is a completely community driven project. This makes it safe since it cannot be censored. If you own Dogecoin (DOGE), you can be sure that it is yours and no one has the power to censor how you spend it. This is powerful and as cryptocurrencies become more entrenched in society, its value in the market will rise. This makes it a perfect crypto to keep an eye on going into 2019 and beyond. That’s because, over time, society will appreciate the power of the individual being in control of their own money. The power of not being at the mercy of someone else, when you need your money is priceless. Simply put, the macro environment and Dogecoin’s core fundamentals support it as a serious investment, one that has what it takes to grow in value in the long run.