Will DogeCoin Collapse Like LUNA?

Will DogeCoin Collapse Like LUNA?

Dogecoin is performing poorly. Since the coin’s devaluation began a year ago, investors are still counting their losses. DOGE token has dropped over 80% in value during the previous year at the time of publishing. As a result, crypto experts worry that Dogecoin may follow Terra LUNA’s path.

The bad news is that DOGE token still hasn’t figured out how to rebound from this significant decline. This is due to the fact that Dogecoin, like other meme currencies, lacks a use case. As a result, DOGE token, like Terra LUNA, is prone to crash.

The Dogecoin project began as a meme coin that was later promoted as a viable digital payment option. In all these years, the Dogecoin team has done very little to establish a stable environment for the DOGE token.

DOGE adoption, on the other hand, has been increasing. DOGE is accepted as a payment currency for items by large firms like Tesla. The largest issue for the Dogecoin project has been the absence of a real use case. The Dogecoin project lacks value in comparison to rival initiatives like Bitgert (BRISE), which is the primary cause behind its decline.

Many DOGE token investors have joined Bitgert as a result of its great use cases. Bitgert is a cryptocurrency that provides actual value to the ecosystem through the products and initiatives that the Bitgert team is developing. That’s why Bitgert’s price has soared while DOGE token’s has plummeted.

Bitgert, unlike Dogecoin, is creating a blockchain ecosystem with a variety of DeFi, NFT, and Web3 applications. The famous Bitgert BRC20 blockchain is one of the products previously published in the finished plan V1. Because of its 100k TPS and zero-gas fee feature, Bitgert is now the most popular chain.

Now that the Bitgert team has begun developing roadmap V2 products, Bitgert is becoming more powerful than Dogecoin. The Bitgert ecosystem is growing thanks to the Centcex cooperation. In the next months, hundreds more Bitgert projects from Startup Studio will be introduced to the Bitgert ecosystem.

As a result, DOGE’s lack of use case might make it the next Terra LUNA. DOGE token investors, on the other hand, may still invest in initiatives like Bitgert, which have real-world applications.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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