{"id":246197,"date":"2021-05-10T11:52:46","date_gmt":"2021-05-10T08:52:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dogecoin-an-invaluable-fad-that-will-help-the-cryptocurrency-space-says-exec\/"},"modified":"2021-05-10T11:52:46","modified_gmt":"2021-05-10T08:52:46","slug":"dogecoin-an-invaluable-fad-that-will-help-the-cryptocurrency-space-says-exec","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dogecoin-an-invaluable-fad-that-will-help-the-cryptocurrency-space-says-exec\/","title":{"rendered":"# Dogecoin an \u2018invaluable fad\u2018 that will help the cryptocurrency space, says exec"},"content":{"rendered":"

“# Dogecoin an \u2018invaluable fad\u2018 that will help the cryptocurrency space, says exec <\/strong>”
\n<\/p>\n

The rapid emergence of Dogecoin (DOGE) as the fourth-largest cryptocurrency by market capitalization has led some to perceive the meme coin as a mere fad \u2014 something very much here today, but doomed to be gone by tomorrow.<\/p>\n

But in the unlikely event that Dogecoin actually disapp<\/a>eared tomorrow, its lasting impact on the cryptocurrency space leaves a legacy far beyond what yo-yos and Tamagotchis supplied to bored kids in the pre-internet days.<\/p>\n

Founder of Bitcoin Centre NYC and the Zap Protocol, Nick Spanos, believes Dogecoin is indeed a fad \u2014 but an invaluable one.<\/p>\n

\u201cDOGE is a fad, within a growing movement that is here to stay,\u201d said Spanos, adding that the hype created by Elon Musk\u2019s appearance on Saturday Night Live,\u00a0which resulted in a 38% price crash,\u00a0would ultimately bring more eyes to legitimate projects in the crypto space.<\/p>\n

Dogecoin\u2019s perceived lack of utility stems from the unequal distribution of its coin supply, its inflationary coin production, and its general<\/a> lack of development since the early founders packed up and left.<\/p>\n

But that needn\u2019t be a reason to ignore the utility Dogecoin does bring to the table, said Spanos, who pointed out the massive surge in interest Dogecoin had already brought to the crypto space:<\/p>\n

\u201cDOGE is a powerful marketing tool, driving attention and adoption of crypto and decentralization as a concept. And in that respect, it is invaluable.\u201d<\/p><\/blockquote>\n

Spanos decried the \u201cextortionist fees, inflation and financial exclusion\u201d regularly practiced by big banks and governments, adding that any ill-feeling aimed at Dogecoin should be directed towards those previously mentioned entities.<\/p>\n

“I expect many people to cash in on their DOGE profits in the coming days, and this is likely to boost the wider crypto market as a lot of this money will flow into other altcoins which have strong potential instead of it being converted into fiat money,\u201d added Spanos.<\/p>\n

After losing 38% of its value as the coin price fell from $0.72 to $0.44 over the weekend, Dogecoin predictably rebounded early on Monday morning. The coin price was subject to a 34% surge, climbing from $0.44 to $0.59 in a matter of hours.<\/p>\n

The latest data<\/a> from Google Trends shows that search interest for Dogecoin in the past week matched that of Bitcoin for the first time in history.<\/p>\n