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RE: WOW! MUCH ENDORSEMENT! John McAfee Selects Dogecoin as Coin of the Week on Twitter
Much WOW, Doge has always rebounded nicely. It seems to sit at all time lows of 17 satoshi and then BAM a few months later we are back at 100 satoshi + this has repeated about 3-5 times now.
I am also surprised myself, i have really underrated dogecoin, i guess i have to change my orientation about them
Not sure if that's wise. What's actually underpinning the value of Dogecoin? What actually relies on Dogecoin? Seriously, look at the code repository for Dogecoin before you think about investing. This coin hasn't seen any development in over two years aside from some minor configuration changes.
Every crypto has seen massive surges over the past few months as investors new to the space look for the next cheap coin that they hope will skyrocket them to crypto millionaire status. Eventually people are going realize that a lot of these coins have no purpose or value, and the coins might very well crash and burn.
Dogecoin has value because it's a well-known meme. See /r/dogecoin. If you're in it for short-term trading, you might make some cash, but long-term this currency has stagnant development and there's much more value in other coins that have actual products on their blockchains.
According to Palmer the co creator of doge Doge will be implementing segwit soon!