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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Key Points:
The Dogecoin growth in the past 12 months has been quite disappointing. The coin has many people counting losses after the Dogecoin price plunged for 12 months straight. There are a number of factors that could have caused Dogecoin to continue dropping. But why did the Dogecoin coin post a bullish growth till mid-2021, and then it started dropping after the ATH?
Some people feel that Dogecoin might have used a pump and dump scheme to attract investors. Immediately after Dogecoin started getting massive adoption, and the value of the coin grew tremendously, the whales behind the scheme started dumping. They made millions in profits.
That's one of the reasons that can explain Dogecoin plunging prices. But there are other factors that can explain Dogecoin's poor performance. One of them is the issue of meme coins. Dogecoin is one of the oldest meme coins in the industry and has no real use case. The meme coin hype is dying fast, and Dogecoin has been one of the affected coins. That's why the Dogecoin price has been dropping non-stop.
The issue of growing competition against Dogecoin is another huge problem. There are many interesting projects that are outperforming Dogecoin and have attracted a lot of Dogecoin investors. One of the biggest crypto projects killing Dogecoin fast is Bitgert (BRISE). Read more below about Bitgert and why it is one of the cryptocurrencies to watch:
Bitgert is attracting a lot of Dogecoin investors because of the powerful project that the Bitgert team is building. Unlike Dogecoin, which is a meme coin, Bitgert is a solid project. Bitgert is a high utility project with a real use case. In fact, Bitgert is one of the coins that prices are being driven by the adoption of the products and projects in its ecosystem.
Bitgert has the fastest-growing ecosystem due to the huge number of products and projects the team is building. The BRC20 blockchain is among the products that have been skyrocketing Bitgert price with its mass adoption.
There are more Bitgert products coming from the roadmap V2, which has DeFi, NFT, and Web3 products. The Bitgert team is also adding 1000+ projects to this ecosystem in the next 12 months. The Centcex project has also partnered with Bitgert to add an unlimited number of products to the Bitgert ecosystem.
In conclusion, Dogecoin might have been a pump and dump scheme, but the competition is also killing it. With the likes of Bitgert, it is difficult for such meme coins to survive.
