Dogecoin has grown in popularity over the years in the crypto world. But, unfortunately, its price has soared and plummeted at different times that it can be hard to tell where the coin is headed.
Despite Dogecoin’s meteoric rise in the past, it remains a risky investment, and there are varying reasons why it is doomed to fail, and traders might dump it for new coins.
The Dogecoin dream might end sooner than expected, and although the crypto market has been running circles recently, some coins are set to explode. As a result, traders are dumping Dogecoin and opting for these coins instead.
3 Reasons Why Traders Are Dumping the Dogecoin Price
The implosion of the Dogecoin price is entirely predictable as there have been telltale signs over the years. Below, we’ll break down three reasons why Dogecoin is failing.
Elon Musk Tweets Are the Main Catalyst
Why is your investment’s success based on tweets from a single person? Elon Musk has been the main driving force behind Dogecoin. However, beyond the fact that he’s working with the coin’s developers, none of his other tweets and uploaded memes about the coin have any real substance.
Elon Musk’s tweets are also beginning to have less effect on Dogecoin’s growth. Musk’s announcement to continue with the Twitter deal influenced Dogecoin’s price for the briefest of time before the price plummeted once again.
It Lacks Meaningful Utility Outside Crypto Exchange
Beyond the crypto world, Dogecoin has limited real-world use, causing traders to lose interest in the coin. There are less than 2000 businesses in the world that accept Dogecoin.
Most traders invested in Dogecoin before worldwide adoption occurred. However, it’s becoming clear that this would not be happening.
All Bubbles Eventually Burst
History has repeatedly shown that all bubbles eventually burst. There’s no exception to the rule, and Dogecoin is no different. So no matter how excited investors are about hyped coins like Dogecoin, it never really matches expectations.
Although the blockchain has a bright future, businesses are reluctant to switch away from their tried and true payment method. One of the reasons Dogecoin thrived was that there were no major competitors. However, with many meme coins in the crypto space today, Dogecoin’s bubble will soon burst.
3 Coins That Make for a Smarter Investment
Instead of investing in an unsustainable coin like Dogecoin, traders should consider investing in coins that have more growth potential. The following trio of coins has all the tools required to surpass Dogecoin in the crypto space.
- Dash 2 Trade (D2T) – Best Crypto Project with Presale Alerts and Trading Signals
- IMPT – Most Exciting Green Crypto for Carbon Credits
- Calvaria (RIA) – Best Play-2-Earn Game for Crypto Staking
A Full Review of these 3 Crypto Projects
Below, we’ll review the three coins with more growth potential than Dogecoin. Therefore, a trader needs to familiarize themselves with these new cryptocurrencies.
Dash 2 Trade (D2T) – Best Crypto Project with Presale Alerts and Trading Signals
Dash 2 Trade is a cryptocurrency project that provides investors and traders with tools to succeed in the crypto market. The project’s native token, D2T, took the crypto space by storm when it began the first stage of its presale.
The token has garnered over $600,000 in investment and shows no signs of slowing down. On the Dash 2 Trade platform, traders can access many tools like automated trading API, on-chain analytics, and social indicators.
The platform helps traders track recent crypto presales and ICO; this way, traders and investors can get in on new cryptos before they’re released to the public. However, the show’s real star is the D2T token, which can be used to pay for subscriptions on the platform. You can also access resource-intensive services like strategy backtesting using the token.
For the first phase, 35 million tokens are available for $0.047 each. However, this price will increase at each stage until the presale is sold out.
IMPT – Most Exciting Crypto for Carbon Credits
IMPT is an emerging crypto project that has garnered lots of attention because of its focus. It aims to solve climate change, a significant issue in the 21st century. Although most new crypto projects struggle to get real-world use cases, IMPT has already partnered with over 10,000 brands, with top brands like Microsoft and Amazon among them.
It provides shoppers with climate tokens that they can use to offset their carbon footprint by funding various ecosystems vetted and approved by trusted bodies. You can also buy, sell and hold these carbon credits for their value.
Traders can also retire their carbon credits for unique NFTS or to score on a leaderboard the IMPT team will set up to determine how companies and individuals are doing. The project is still in phase 1 of its presale.
It has 600 million tokens on sale at $0.018 each. Phase one ends when the tokens are sold out or on November 25th, after which the second phase will kickstart. Unfortunately, with the second phase comes a price increase. Therefore, get in on this project in the first phase.
Calvaria (RIA) – Best Play-2-Earn Game for Crypto Staking
Calvaria is a play-2-earn crypto game that allows players to earn rewards with its native token, RIA. Players can use this token to govern the ecosystem and vote on the ecosystem’s decision. With this token, players can ensure the economic stability of the ecosystem.
You can use the token to purchase assets in the game. Users must buy an NFT “deck of” cards with RIA tokens to progress in the game. The ecosystem rewards players with RIA tokens for winning tournaments.
Finally, players with cards of the same strength can combine cards and use their tokens to buy a higher-level card.
Investors can also stake their tokens and then earn daily rewards from them. This way, RIA tokens can help investors earn a passive income. With Calvaria in its first presale phase, it is the best chance to jump in on the crypto project.
One of the same reasons Dogecoin has experienced growth is because investors have pumped up its price. However, Dogecoin is a short-term investment, and although it has much name recognition, it won’t be able to keep up with the market in the long run.