- Billy Markus, the co-creator of Dogecoin, believes that the meme coin needs to market itself as a digital currency.
- In the past, Markus had agreed that DOGE is “fast, scalable, and inexpensive.”
- Dogecoin’s creator argues against it being a “shit token.”
The American programmer argued that “if you want dogecoin to succeed, continue to be relevant, and have a reason and need to exist, utility comes from using it, accepting it, and showing others the benefits to do so.”
With that, Markus urged the community to contribute to the core development of the project instead of creating unnecessary hype. He commented, “speculation has brought attention. work brings utility.”
real talk:#dogecoin needs to market itself as a digital CURRENCY
there’s already infinite digital speculation and digital utility tokens and chains, and pointless speculation tokens are made daily
dogecoin is in the best position to be the most used for purchasing and tipping
— Shibetoshi Nakamoto (@BillyM2k) March 29, 2022
In the past as well, Markus had stated that “hype doesn’t last,” but only “attracts get rich quick people.” Instead, projects need to focus on “lasting value,” the creator had reiterated.
Dogecoin, which was a bitcoin spin-off and arguably the first real ‘meme coin,’ had garnered attention after DogeFather Elon Musk fuelled its social media following. But along with that, Musk and Markus have often agreed over Twitter exchanges that DOGE is “people’s crypto.” However, the original meme coin continues to attract critics, especially as it stands as the twelfth-largest crypto.
Arguing against DOGE being just another useless meme token, Markus also commented that “it’s a satirical cryptocurrency made for sillies that randomly caught on.” And, in his opinion, the meme tokens of today “[have] no use case.”
As we recall, Markus considers that DOGE is “fast, scalable, and inexpensive,” in contrast to his definition of ‘shit tokens.’
Not recently. What matters imo is lowering fees, decreasing block time & increasing block size. A single layer network with exchanges as de facto layer 2 seems like the simplest solution for a medium of exchange.
— Elon Musk (@elonmusk) October 24, 2021
When it comes to Dogecoin’s price action, it has recently enjoyed some recovery along with the broader crypto market. The coin’s major hike also came this week when Elon Musk asked his followers if a new social media platform is needed.
In response, Musk seemed to like the idea of Boardroom Capital chairman, who suggested buying Twitter and replacing the blue bird with DOGE. With that, Anndy Lian, Chairman, BigONE Exchange highlighted the impact of the Twitter exchange on Dogecoin’s value:
Anndy Lian: "Dogecoin continues to rally after Elon Musk's tweet on meme coin. This has triggered retail investor buying. Together with this trend, the number of long term holders of dogecoin rises."
Do you think this is the start of alt season?https://t.co/hXflhmj54R
— Anndy Lian (@anndylian) March 29, 2022
In the past week, DOGE prices have gone up by over 17% and were trading at $0.1447 at the time of press. Despite that, it remains around 80% below its all-time-high valuation of $0.731578 reached last year in May.