Earlier this year, ‘meme stocks’ became a big thing in the stock markets but in the world of cryptocurrencies, it was Dogecoin that emerged as the corresponding number.
It had been developed as a joke by its creators but Dogecoin has attracted significant attention from crypto traders and investors this year. One of the biggest boosts for the cryptocurrency was the tweeting activity of Elon Musk. That led to interest from many other famous people and soon enough Dogecoin went on a strong rally.
Nothing has changed about Dogecoin and it remains the same thing but in light of the gains, experts have also weighed in with their opinions about its future.
The Chief Executive Officer and founder of Cashaa, Kumar Gaurav, stated that Dogecoin actually does have the stated purpose of building a payment system. Moreover, that system is going to be without banking fees. Hence, the project might actually have a use case and that might be driving further interest among investors.