Do you follow what the world of cryptocurrencies offers? Do you know about Dogecoin? You know that this coin starts as a joke. It begins as a parody. But look at where it is now. Close to four years after it enters the market, it enjoys a $2 billion in its market cap. The altcoin is recording tremendous results. Although the last part of 2017 seems reasonable, $DOGE founder feels otherwise. In fact, Jackson Palmer thinks that 2017 is the worst year for cryptocurrencies. Look at the Breaking News About Russian President Vladimir Putin endorses Doge Coin!
Why Does Dogecoin Founder Believe In A Surge Of New Cryptocurrencies?
“Dogecoin’s valuation is the result of market mania. Above all, this is resulting in inexperienced investors buying up low-priced assets. They do so on a whim. Besides, they hope that they will follow bitcoin’s meteoric trajectory,” Palmer says. According to Palmer the market of altcoins is more of a bubble. Also, this makes it easy for people to raise questions. It is on this note people wants to know more. Investors everywhere are now wondering what will happen in days to come. In fact, they are asking how much will the current bubble inflate. What is more, they want to know when it will burst.
For now, the price of a Dogecoin token is down. As of Monday this week, you will get a $DOGE token going for $0.0112. Even on this low, the market capitalization as per last week is $1.27 billion. Palmer, originally from Australia, now lives in San Francisco, USA.
This Digital Currency Opens The Way
The coin founder believes that his digital currency opens the way. He is right. Dogecoin, which starts as a parody is the first ‘parody.’ But there are many crypto assets. Many of them are accumulating millions of dollars in the market cap. He is proud that his coin is leading others in this. He argues that people are no longer going for traditional altcoins. In fact, Palmer even points out to newcomers. He calls then shrewd for not going for conventional methods.
He opines that traditional digital coins are expensive. For this reason, he says newcomers know what they want. They are looking for low-prices coins. By the year 2015, there are huge sums of money. This money comes into the crypto market thanks to altcoins and other crypto assets.
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Although he is the founder, Palmer does not involve himself with the coin. At least he is not doing this in person. Instead, he has a team, which he calls community members. This group oversees the daily functions of the digital coin.
The $DOGE.X Founder Is Not A Member Of The Crypto World
He says that he is not an active member of the crypto world. The founder has good reasons for doing so. He points out that he still has an interest in developments. He is quick to say that his shares in digital market are small. “I see this space that it will finally belong to opportunists. They’re looking at making a buck rather than investing in evolving the technology,” Palmer says. He adds that he still has holdings in various cryptocurrencies. They include Dogecoin where he has less than $50.