Dogecoin (DOGE) is the seventh largest cryptocurrency in the world at $ 41 billion in market value, yet many investors still consider it nothing more than a sheetcoin or “junk” cryptocurrency. Despite receiving support from great influencers in the crypto world, such as Elon Musk, DOGE is still seen as a cryptocurrency of a meme, which does not provide any additional value.
Every time a cryptocurrency is talked about, or given more importance, it becomes better known, and that attracts more investors. Last week, news broke that a new crypto game called Dogecoin Go It was released, and its players will have the possibility of winning DOGE while they walked through the world of video games. For its part, Elon Musk, one of the main influencers in the crypto world, CEO of Tesla and Spacex, has always supported cryptocurrency, even saying “it is a financial vehicle that is going to take over the world”, referring to Dogecoin.
Too, Mark Cuban, a multimillionaire businessman and investor, known in Shark Tank in the United States, has said about DOGE, which is: “a means that can be used for the acquisition of goods and services”, and mentioned that: “The Doge community is the strongest when it comes to using it as a medium of exchange ”. Cuban, who owns an NBA team, the Dallas Mavericks, sells part of their products with DOGE, and they are not the only sports club promoting crypto. Football players from Watford Football Club, in the English football league, now wear the dogecoin logo for the 2021-22 season on the sleeve of their jerseys.
As a result of all the support received by the cryptocurrency, the Dogecoin Foundation has even been reactivated, which is a non-profit organization established in 2014 by members of the Dogecoin team. to provide “Support for the Dogecoin cryptocurrency through development and promotion,” as detailed on its website. The organization is also responsible for upholding the Dogecoin trademark “to prevent abuse and fraud” and establishing “A roadmap and governance for the future of Dogecoin.” This means that DOGE can once again gain momentum, and begin to receive the changes necessary to be taken seriously by investors.
The foundation emphasized: “We are here to accelerate the development effort by supporting current Dogecoin Core developers and future Dogecoin developers to work full-time through sponsorship, as well as providing a welcome landing for new contributors who they hope to help with the project ”.
Even Vitalik Buterin, one of the most important creators of the second largest cryptocurrency, Ethereum, has previously spoken about a possible collaboration between Dogecoin and Ethereum. “If we can have a secure bridge between Doge and Ethereum. That would be amazing, “he said in June. And now, both he and Jared Birchall, Tesla CEO Elon Musk’s family office manager will be working alongside the Dogecoin Foundation.
Norberto Giudice @CriptoNorber, told Infobae: “Until now I still think that Dogecoin is a memecoin, it is a copy of the source code of Bitcoin, without any improvement from a technology point of view, it is still a memecoin. Now, if Elon Musk, Vitalik Buterin, the foundation, or another entity, make changes to DOGE, then its fundamentals could change to stop being a memecoin, “and added: “The point in favor of Dogecoin is that it has its own blockchain, where it could develop to finally have its spreads. Much of the success of crypto projects depends on adoption, so if it is accepted by Tesla as a means of payment, for example, it could receive enough momentum to achieve success. “