Should I Invest in Dogecoin?

You’ve seen the meme and probably heard of its unexpected ascent to fame. But what is Dogecoin used for, and where did it come from?

Should I Invest in Dogecoin?

Cultural Capital

Dogecoin gives many people a sense of camaraderie; you could even say that it has cultural capital because of how it’s impacted society and brought people together.

Profit on Market Irrationality

You can see Dogecoin as a 100% rational movement for the people, or it is the perfect example of how irrational the markets are. If it’s the latter, this could potentially be a way to make money.

Elon Musk Backing

On January 14, the entrepreneur’s company Tesla started accepting Dogecoin as a payment method to buy its merchandise, with a range that included fashion staples like a commemorative belt shaped like a Tesla factory.

Energy Efficiency

Research has found that Dogecoin is more energy-efficient than most big-name cryptos. While bitcoin consumes 707-kilowatt hours per transaction, Dogecoin consumes just 0.12.

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