Why Are Millennials So Obsessed With Dogecoin

Source: cryptopotato.com

The majority of people still find all the things regarding digital assets, and especially cryptocurrency, quite tempting yet are still afraid to invest in it.

Depending on the way we look at this problem, certain things like high volatility or even an unstable market, which the crypto one surely is, don’t help, but once you get familiar and know more about how it all works, along with all the benefits of cryptos, this trend will change and is already changing.

Of course, the fact that one can get pretty rich pretty fast with several smart investments and trades also contributes to the fact that these coins are gaining more and more attention, and luckily people are today more open to considering investing in the crypto market.

Among thousand of available coins, even though the new ones seem like the most promising, the ones that first saw the light of the day, like BTC or ETH, are still the most popular because they have already proved that they are a stable and secure investment in the long run.

Dogecoin hype

Source: newsbtc.com

Besides these two most popular coins, some of these coins draw more people than others, and here, we talk about millennials, as it seems that they are more open and more freely are willing to invest in coins such as Dogecoin.

Gen Z and millennials are highly affected by all these changes, but they also understand and are more aware of the benefits and advantages of crypto investing. Knowing this, it’s nothing unusual that cryptos are so highly valued among millennials, but among all other coins, Dogecoin emerges as the most popular, and we can definitely say that Gen Z is obsessed with it.

As for why this happened, there are plenty of them, and, depending on how you look at this and how you approach this subject, you might come to different conclusions. But, one thing is certain, and it’s about Dogecoin being and, as it seems, will remain the to-go option for millennials, crypto-wise.

So, in order to try to better explain this obsession over this particular coin, let’s check some details and how this hype over Dogecoin started in the first place.

A meme that started it all

Source: knowtechie.com

It all started with the memes, or to be more precise, one meme that has changed it all. Namely, that famous dog meme has a crucial role here, and it seems that millennials adore memes, which is also why they are so fond of DOGE.

Besides the memes, two factors are crucial to why people place their trust in cryptos. On the one hand, we have those that look at cryptocurrencies as the best type of investment and the best way to enlarge their profits and earn big.

On the other hand, others look at cryptos as the best way to protect their wealth, especially with everything going on in the world today. Now, when we combine all these three factors, we get to the point of Dogecoin becoming globally popular, with one group of people dominating as they own this coin the most.

A way to send a message

Source: mondo.rs

When it was first launched in 2013, many were skeptical about the worth of Dogecoin and its usage. Furthermore, since it became so popular, especially in online communities on Reddit and Twitter, its value also skyrocketed, which caught many by surprise.

One primary reason why millennials are so fond of it is that it’s simply so funny, and it is also a way to express their disagreements and thoughts about the system in general. Of course, today, it’s much more than a joke or something that exists only to cause a few laughs, as its importance and overall influence on the global crypto market is immeasurable.

Millennials and their investment in DOGE have started it all, but today, this trend is followed by others, as now Dogecoin represents a huge investment opportunity.

The role of Elon Musk

Source: vibesofindia.com

We all know how the crypto market experience rapid changes due to many things, but among all other things, what potential big investors say or tweet can also lead to big changes. That is precisely what happened not just with Dogecoin but with BTC as well.

Namely, just one tweet by Elon Musk was enough to cause a chain reaction that caused a huge rise in BTC value. Now, imagine what it did to a coin that’s far more volatile like Dogecoin, which is what happened when Tesla, a company owned by Musk, started investing millions in this crypto.

All those investments have much contributed to Dogecoin becoming a pretty lucrative one in the entire crypto market. Besides that, since many are fond and drawn to invest in something when some renowned person or company does it or even recommends it, we get to a point where these investments by Tesla and other companies were a huge hit and awesomely welcomed by millennials.

The bottom line

It’s pretty clear that Dogecoin, even though the first idea was more about it being amusing and used more as a way to fight the system, is today much more than just that. Its potential is unknown, but, as we can clearly see, the market power of millennials is an extraordinary one, which means that this coin will not drop in value any time soon-on the contrary, its value will only rise.

It is a unique coin, and the one that will stay with us for quite some time, which brings us to the next question, which is about how to buy it.

There are several ways to get a hold of DOGE, but as you probably already know, every country has its own rules and regulations about digital assets and how one can get them.

Buying DOGE in the UK, for example, can seem difficult at first glance, but with some research, you will find out how to invest in this widely traded crypto, or if you want to take a shortcut, visit this site and get all the answers along with analysis if this coin is actually worth adding to your portfolio.