There are many critics of altcoin superstar Dogecoin. They say Dogecoin is nothing but a ‘scrypt‘ clone that offers nothing unique in terms of crypto-currency design or implementation.
They rail against fans of Doge, even going so far as to label them as ‘stupid kids.’
But there’s something about Dogecoin that is making it pull ahead of other altcoins. That something - is intense interest! Doge has captured the imagination of many people. Now the media is catching on (you know how they love to ride on the coattails of a rising trend.) That means even more attention as Doge gains traction and becomes adopted by more vendors and end users.
Articles are popping up everywhere about Doge, like this one in the Washington Post. Technology writers are rushing to understand Doge and to harness some of its immense popularity. This is a strong indicator that the growth of Dogecoin is just beginning.
Vendor Acceptance Is Key To The Growth Of Doge
Like any other new cryptocurrency, Doge needs to gain acceptance by vendors to be truly valuable.
The more ‘stuff‘ one can buy with Doge, the more valuable people will perceive the currency to be.
The trend towards vendor adoption is growing. There are now 51 vendors who accept Dogecoin.
It’s likely that number will continue to grow. If it grows enough, Doge can actually hit the sweet spot of technological adoption known as exponential growth.
This happens when enough people are using the altcoin that it literally demands vendors accept it! If they don’t, they’re literally leaving money on the table. Any smart vendor would be foolish to do that. When that point comes, rapid adoption will converge into a mass of activity.
Can this happen for Dogecoin? Why not? Indeed Doge may have been started as a joke, and it does have light hearted elements to it, but the feeling of community built around it is very real. People are excited about Dogecoin.
The excitement around the crypto currency turns holders of it into brand ambassadors who recruit more people by sharing the wealth with others that are new to the concept.
Many people that use Dogecoin are quite active in charitable causes. The Dogecoin community helps spread the wealth using faucets to give out free Dogecoins to new adopters of the currency, encouraging them to get more involved.
Is Popularity Enough?
The better question is probably, when is popularity not enough?
Do I need to mention ‘Twilight‘ and ‘Justin Bieber?‘
Those are two very popular things that many people couldn’t stand, but others loved them with all their heart.
The love outweighed the hate and their popularity grew, despite criticisms and attacks.
Doge could very well be the same thing. Either you ‘get it’ or you don’t.
Those who don’t ‘get it’ are going to continue to be angered by the success of Dogecoin.
As long as people keep on loving Doge and making Doge more popularity, the altcoin will continue to establish itself as a serious contender for the crown.
As of this writing, DogeCoin had a market cap of $71,369,853 USD - behind Bitcoin at $7,134,876,532 USD; Litecoin at $409,563,861 USD and Peercoin at $80,019,537 USD.
As fans of the Doge always say - “To The Moon!”