The advance of Dogecoin in the markets has become a true hallmark of our time. In which, speculative investments have become part of the day to day, as happened with GameStop on the stock market. However, despite the fact that Dogecoin was created as a virtual prank currency, many Americans believe that Dogecoin is the future of the world economy.
Rise and fall of Dogecoin
The rise in the price of Dogecoin has been as rapid as it is unexpected. And it is that, although Dogecoin has always had a strong community of users around it, which used to use it as a means to tip creators on the Internet. Cryptocurrency has never been anything more than a technological curiosity in the middle of a much larger crypto world.
That changed a few months ago thanks to two simultaneous forces. In the first place, the increase in the availability of financial resources thanks to the US stimulus plans. Which injected into the world economy with dollars that ended up in the financial market. And secondly, the influence of Elon Musk, the second richest man in the world, who with his comments in favor of the virtual currency has driven its price.
However, this bullish rally in the price of Dogecoin, which has led the cryptocurrency to go from trading in the order of $ 0.01 on January 1, 2021, to a record high of $ 0.66 a few days ago, it was based entirely on speculation. There is no technological project behind that supports the value of Dogecoin, leaving it vulnerable to falls like the one experienced since last Saturday, losing more than a third of its value.
Americans continue to trust
Despite all this, Americans continue to trust Dogecoin. At least according to a survey recently published on the Gamblerspick.com website. A total of 1,001 US citizens participated in it, answering various questions related to Dogecoin. According to this, at least 23% of participants continue to trust Dogecoin, expecting it to reach a price of $ 1 this year.
Thus, the study reflects that 27.6% of those surveyed had invested money in Dogecoin, while 30% believe that DOGE is the new Bitcoin. In addition, when questioned about Elon Musk’s role in the market, 43.6% approve of his participation promoting Dogecoin, 15.2% disapprove, and 41.1% are neither in favor nor against it. the billionaire’s stock.
However, it is not all signs of support. In contrast, 40% of those surveyed regret having invested in Dogecoin, and 48.8% regret having invested in stocks powered by Reddit such as GameStop. Finally, one in four Americans surveyed said they consider Dogecoin to be the future, with 46.4% of those who invested in virtual currency admitting they did it just for fun, while 53.6% did it “to get rich.” ».