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When the crypto markets move, they move fast. And nothing can highlight this better than Dogecoin’s (DOGE) and Dogelon Mars’s (ELON) market capitalisation jump.
After a significantly dull and depressing year, amid economic pressures perpetuated by the aftermath of the Covid-19 pandemic and invasion of Ukraine, meme currencies suffered the worst out of all cryptos. Holders of these very currencies faced their assets losing over 80% of their value, and many, rightfully, believed the meme market was done for.
Unlike ‘serious’ crypto Bitcoin (BTC) and Ethereum (ETH), which possessed more utility, the majority of meme currencies are only assigned value based on cultural popularity. If a meme falls out of favour, as is common with the internet, then the meme token greatly suffers.
However, in a move astonishing for many crypto enthusiasts, Dogecoin and Dogelon Mars returned to green, delighting many holders and disappointing many investors who remained sceptical.
If you missed your chance to buy DOGE or ELON, Dogeliens (DOGET) may become just as good of an alternative.
The return of the King: Dogecoin Is Back!
Make no mistake, the king of the meme of currencies is back (not that they went away anywhere in the first place). Dogecoin, yes, the Dogecoin. The original Dogecoin has marked a return to green after a difficult year.
Reaching astonishing heights, such as almost a 160% increase in its market capitalisation from the 25th of October to the 1st of November 2022, it is safe to say that nearly a decade-old Dogecoin is as strong as ever.
For those who had given up on the idea of Dogecoin ever rising again and cashed out, looking at Dogecoin’s chart must elicit several feelings of bitterness and frustration. However, do not give up all hope on profiting off meme currencies just yet. Up-and-coming Dogeliens might make a good investment.
To Mars and, Beyond: Dogelon Mars
Dogelon Mars, the slightly lesser version of Dogecoin (DOGE), has…
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