As soon as the first crypto, Bitcoin, took off, each corner of the social media was abounded with the news. From that widespread engagement to borderline frenzy and the newness in investment trends that followed was a small step. Bitcoin’s emergence may not have been welcomed with fanfare, but the savvy, future-looking minds knew something was about to change in how people perceive money. Only two years after the asset’s debut, Laszlo Nanyecz would offer 10K Bitcoins for two pizzas, marking the crypto’s history in what is reportedly known as the first acquisition ever with experimental digital currency. Fast-forward to November 2013, Bitcoin’s price almost doubled from an initial $213 at the month’s beginning to a whopping $435 in less than two weeks. Considering that the asset’s first value was close to nothing, it’s clear as daylight why cryptocurrency is the investment vehicle that saw the most rapid rise in value from its inception to the point where over 560MN crypto owners worldwide were recorded.
Just shy of five years after Bitcoin debuted, Bill Marcus and Jackson Palmer, engineers from IBM and Adobe Systems, developed and released Dogecoin – a decentralized cryptocurrency for instant payments. Fast forward to today, the innovative project turned out to be one of the most powerful crypto initiatives, reflected in indicators like the current dogecoin price prediction. The venture took over social media and disrupted how generations, particularly Zoomers, think of investments. Dogecoin and its native token, DOGE, reached the peak of popularity after influencers like Elon Musk and Donald Trump fussed over it. The viral hype amassed and reflected in boundless videos, memes, tweets, and other content types pushed Dogecoin to become one of the most influential cryptocurrencies that make an exception from the crowd. Dogecoin started in an attempt to spark laughter, and while it managed to have the world crack smiles, it’s safe to say that it achieved much more.
How did Dogecoin change through social media how investors in Gen Z and beyond think of investment trends?
Dogecoin Then And Now
For Gen Z, who never knew a world without the Internet and social media, the latter plays one of the most powerful roles in guiding their financial choices. What started as a satiric mockery of Bitcoin managed to become one of the heaviest examples showcasing how social media can transform a joke coin into a widespread investment fetching millions of dollars.
What makes the asset so appealing to investors belonging to Gen Z is its viral standing, seeing it prosper in social interaction and community involvement, boasting qualities that speak volumes for digital natives. Even if the meme coin market is alarmingly volatile, the ROI can be generous for those who play their hands right.
Nevertheless, when it comes to crypto, it’s both a game of skill and luck. You don’t really know what’s on the horizon, an example of an unfortunate and unforeseen catastrophe being the collapse of FTX that caused lingering effects on the whole market. This is why it’s important to keep an eye on the news and trends when investing in crypto, all the more if you don’t intend to keep some assets for the long term but cash in on rallies. Conversely, if you want to profit from crypto with more layers of safety, storing it and not touching it for years is the foolproof way to go.
Doge on X and Trump’s Support
Viral attention from Elon Musk, CEO at X (ex-Twitter), greatly benefits Dogecoin’s fame and future potential. The A-lister is now determined to co-pilot a D.O.G.E. government agency, enjoying a government checkmark on the social media platform despite not running as an official department. Notably, this mark is used for designating government and multilateral organization accounts, usually being assigned to government agencies, executive office accounts, state-level accounts, ambassadors, and accounts of officials like heads of state and government leaders.
Donald Trump made public that X CEO would co-guide his new administration competence drive, stating what the new initiatives would aim to slash regulation and reduce expenses.
Moving back to platform X, the recently launched news of a new payment method bolstered Dogecoin’s fame. On the platform, DOGE could be included as a payment alternative, which contributes to the speculation of a forthcoming rise in price. This may continue to strengthen Dogecoin’s position as the market-leading meme coin. In the short term, everyone can agree that such exposure can only improve DOGE’s status among investors and X users, considering that everything goes according to plan.
Looking beyond the social media buzz, this undertaking may promote long-term adoption and push the asset higher in the ranks.
Overtaking Ford
It’s not only the voters of Trump who rejoice over the actual president’s victory, but also Dogecoin owners and fans who stuck to their belongings through thick and thin. The Republican’s triumph created a frenzy around the crypto, which, shortly after the news broke, began attracting even more attention compared to the days prior to the election’s finals.
Now, the asset is worth more than some of the world’s best-based companies, including HP and Ford. After Trump came out on top, the asset registered a 157% growth, breaching a record market cap value of $53BN. With a circulating supply set at 150BNDOGE, the asset is poised for promising days in the future.
Bottom Line
Starting as a comic, meme crypto Doge secures its spot as one of the most investment-worthy cryptos. Together with other cryptocurrencies entering the rally, the bigwig skyrocketed after Donald Trump came out on top after the balloting was cast, ushering in a new era for crypto through a more tolerant administration.
If you’re willing to leap and buy high, make sure you realize the risks brought in and don’t risk money you can’t afford to lose. Despite all the exposure and frenzy surrounding Dogecoin and every other crypto out there, they remain high-risk and speculative investment vehicles, so treat them accordingly!
