It is very easy for Dogecoin to crash like Terra LUNA because there is nothing holding it
- Dogecoin is still a meme coin and lacks real utility
- Dogecoin is still plunging despite the current market breather
- Bitgert is outperforming Dogecoin in ecosystem growth
Elon Musk’s favorite crypto coin, Dogecoin, is doing badly in the market. Dogecoin investors are still counting losses since the coin has been plunging for 12 months now. At the time of this writing, Dogecoin had plummeted by 81.15% over the past one year. That’s why crypto experts are warning that Dogecoin could face the same fate as Terra LUNA.
The bad news is that Dogecoin still does not have a clear way of how it will recover from this massive drop. This is because Dogecoin, like other meme coins, does not have a use case. Therefore, it is very easy for Dogecoin to crash like Terra LUNA because there is nothing holding it.
The Dogecoin project started as a fun coin that has been marketed as an ideal digital payment currency. The Dogecoin team has not done much in all these years to develop a solid ecosystem for the Dogecoin coin.
However, Dogecoin adoption has been growing. DOGE is accepted by large companies like Tesla as a payment currency for merchandise. But the Dogecoin project’s lack of real use case has been the biggest challenge. Compared to competing projects like Bitgert (BRISE), the Dogecoin project lacks utility, which is the biggest reason it has been plunging.
In fact, many Dogecoin investors have been joining Bitgert because of its impeccable use cases. Bitgert is a crypto project with a real utility through the products and projects the Bitgert team is adding to the ecosystem. That’s why Bitgert price has been skyrocketing when Dogecoin is plunging.
Unlike Dogecoin, Bitgert is building a blockchain ecosystem with multiple DeFi, NFT, and Web3 products. Among the products already launched in the completed roadmap V1 is the popular Bitgert BRC20 blockchain. The Bitgert is currently the most adopted chain because of its 100k TPS and its zero-gas fee feature.
Bitgert is also getting more powerful than Dogecoin now that the Bitgert team has started building roadmap V2 products. The Centcex partnership is making the Bitgert ecosystem bigger. The hundreds of Bitgert projects from Startup Studio will be added to the Bitgert ecosystem in the next few months.
Therefore, Dogecoin’s lack of use cases might make it the next Terra LUNA. However, Dogecoin investors still have the opportunity to invest in projects like Bitgert that have real use cases.
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