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Cryptocurrencies are traded in a 24/7 economy that makes them different from the traditional stock exchanges. The open trading nature of cryptocurrencies makes it difficult for anyone to monitor or track the market independently. Bitcoins are the popular cryptocurrency, but other currencies are beginning to gain traction and popularity.

Dogecoin is among the altcoins and is used as an alternative to Bitcoin. It was launched in 2013 by Billy Markus as a way to mock Bitcoin. He branded the coin after a dog meme that went viral a few years ago. The coin gained popularity recently, and it has gained a market capitalization of approximately $92 Billion following a steady rise of 26,000 percent within six months. Since then, most investors have opted to shift their focus to Dogecoin, and it is doing exceptionally well in the crypto market.

Tristan Barrett, a software engineer and founder of Coindrop.ai, the first-ever automated crypto marketing software, is among those who have embraced Dogecoin. Tristan joined the market a few years ago after carefully analyzing and studying the market's full potential. He converted $1200 into $500k within his first two months in the market, and since then there has been no turning back. He has been using the Python software and is on track to have a Dogecoin wallet worth $7.6 million. He is on the right course to accomplish this goal within the year. His contribution to the crypto markets is evident as he also runs an alto crypto hedge fund at his young age.

Tristan puts more emphasis on Dogecoin as he foresees a promising future for the currency. According to his projections, the Dogecoin market value is set to increase thanks to the high spikes in rates that make the coin classified among the top ten cryptocurrencies. Dogecoin has also received support from institutional players, such as Slim Jima and Elon Musk, which has given it more steam. Such support is essential for any coin that is still evolving in the crypto world as it creates investor's faith and trust in the currency. Currencies that lack such support take time before finding their way in the crypto markets.

The financial world is also leaning towards the full adoption of cryptocurrencies as the only form of payment in the future. The move comes amid the increased growth of online business, which is on the rise since the onset of the pandemic. Dogecoin allows for a first transaction hence drawing more investors. Early digital currencies such as Bitcoin take more time to complete a transaction and that quickly puts investors off. It is an easy decision to make for investors as any rational person will opt for the currency that involves a fast way of completing a transaction.

Dogecoin prices will also rise due to the low liquidity and extreme growth networks. Reaching a critical mass does not guarantee sustainable growth as Dogecoin seems to be purely speculative. The Dogecoin value is based on the investor's belief that other persons are willing to purchase the coins at an even higher price.

Digital currencies are the future, but the key stakeholders will have to deal with the rampant cybercrimes in the sector. Cybercrime is the number one setback for cryptocurrencies.

To find more information, contact Tristan Barrett on Instagram, Facebook, TikTok, and LinkedIn.