Crypto check: Looking Beyond the Dogecoin Hype
Synopsis
Cryptocurrencies derive much of their value from the underlying project it is attached to. Most cryptocurrencies are associated with a project on the blockchain network trying to solve real-world problems.
ET Spotlight Special
After Bitcoin, crypto investors and media houses have a new favourite in town; Dogecoin. The cryptocurrency has attracted a lot of eyeballs because of its surge. It grew over 5000% in 2021, with a 400% gain in just 30 days. These sky-high gains have stirred up many investors to buy into DOGE, a result of which is evident on platforms like
CoinSwitch Kuber that are experiencing boosted engagement from its users. But is this cryptocurrency really worth the hype? Let’s find out.