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Review on Dogecoin by Nick Sciortino
Love or Hate Dogecoin
Dogecoin seems to really be a coin you either love or hate. It abosultely has its risk as it does appear 1 address holds 27% of all #DOGE.
AND Top 20 addresses holds more than 50%+ of all #DOGE
So it's Kinda "centralized" in that sense.
The one counter I will add to that is that it is very well possible those biggest address's are actually exchanges which would be very good for doge.
It has appeared to become a "gateway crypto" that is bringing in a lot of new people to the crypto market which is positive. People will buy dogecoin, gain interest in crypto which will lead to research, which then leads to buying other crypto, which will lead to over all crypto marketcap increase.
Pros
- Network affect
- Strong Community
- Comes with a lot of memes
- One of the top coins currently for main stream adaption / attention
- Fun
- A lot of big influencers pushing it
- Low Transaction fees
- Fast Confirmation times
- Easy to buy compared to a lot of other cryptos
Cons
- Potentially has a few whales that could tank Doge if they were to all sell.
- Highly Volatile
- No coin Burn
- Still to complicated for most people compared to fiat currencies
