RE: The Dark Side Of The Rise Of Dogecoin
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I think Dogecoin is trying to become a store of value like Bitcoin but is also battling with a get rich quick undertone, thanks to Elon Musk. No doubt the gains got from Doge are pretty neat and I took mine out and used to invest in other alts, because why not? But eventually, the noise will die down and reality will set in. It can't compete with Bitcoin, that's for sure.
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It’s not trying to be anything but a joke it’s never been worked on in years and it’s inflation keeps growing with no cap in site. It’s not a store of value it’s basically become a battle ground for flows as retail don’t care about the underlying asset they just care if it can be moved up or down
Adding any sort of narrative is just trying to justify something that’s not there