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I had a short discussion with lukebrn about Doge and Doge surviving a crash of the crypto market. In his well-written article he has mentioned that Doge would not survive a crypto crash. Let me put first that his reasoning is correct. No question about that! But I would like to differ. Discussion and interaction makes steemit great and better. I have to admit that one of my first investements was also Doge. That was, when I was buying coins without research.
I luckily got away with a small profit. It is true that Doge started as a joke and has been considered a "junk"coin for most of its existence.
It is also true that Doge doesn't serve any purpose other than as a store of value. And yet, where most other altcoins have foundered and faltered, Doge has made it through the years relatively unscathed. The reason as you have so rightly pointed out, is due to the fast transaction time, relatively low price and transaction fee, and its prevalence in the crypto-verse.
Doge will survive as long as people continue to trade on exchanges. Dogecoin started off as a parody to the cryptomarket. The founder Jackson Palmer brought Dogecoin inspired by the internetmem Doge to the market in , wanting to prove that people where buying everything in the crypto market. Dogecoin was created by Billy Markus and based on Luckycoin.
It should have been some kind of internet tipping coin. So I assume that it is an abandoned project. Why are people bying it? I do think that it is a mixture from new people stepping into the cryptomarket: The positives Doge is: No there is no real use case but according to me there is. So my answer to the question above is YES. Dogecoin is one of the cheapest and fastest way to transfer between exchanges.
This is according to me why Doge may and should survive a crash. Do the math for yourself and see if you can spare some bucks when transferring funds between exchanges. What are your thoughts about this? Authors get paid when people like you upvote their post.
Low transfer fee between exchanges Fast payment channel The market finds some value on Doge.