A well-known figure in the crypto industry has reaffirmed his belief in the success of Dogecoin. He is “very bullish on Dogecoin” – and explains why.
DOGE – better known than BTC and ETH?
The cryptocurrency Dogecoin remains controversial. While many consider the coin to be nothing more than a joke, numerous analysts regard DOGE as an “entry-level crypto” for the masses. One of them: top analyst and “Three Arrows Capital” founder Su Zhu.
We got around to recording another episode of Uncommon Core
Check it out and lmk your thoughts! Https: //t.co/VQPCv2uzyZ
– Zhu Su 🔺 (@zhusu) August 25, 2021
In an interview with the “Uncommon Core” cryptpodcast, Zhu explains why he is convinced of Dogecoin. In his estimation, no other cryptocurrency apart from DOGE has generated such interest. Zhu:
“I’m very bullish on Dogecoin. I delved into the community, digging into what happened and what the broader thesis is for people who own Doge, both in terms of ordinary people and investors. “
The best way to understand DOGE is to look at the Robinhood trading app. 40% of Robinhood’s revenue is from cryptocurrencies, and 60% of its crypto revenue is from DOGE. According to Zhu, Robinhood sees “a kind of worker style of crypto investing”. Zhu:
“So Robinhood is basically a DOGE proxy. And I think DOGE is four times better known than Ethereum in many communities in the US. I’m not talking about intelligent people, just about people. “
“Doge is really underrated”
DOGE as “dog money” has something very understandable, which is why the coin is simply more accessible for people, according to the investor. And:
“I think that DOGE is really underestimated when it comes to the pure virality and the quality of the memes and the organic nature.”
DOGE is simply a coin that people can own in large quantities, you can simply send it around, and the whole ecosystem is within reach for everyone – including the easy-to-understand memes, according to Zhu:
“The memes are easy too. The man who drinks beer can understand them. The girl who posts selfies can understand and she can just put her money on it and top everyone. “
You can watch the entire conversation with Su Zhu here.
“Dogenations” – new use case for DOGE
Apart from Elon Musk’s DOGE plans, the coin is also finding its way into “real life” in other ways: The US animal welfare organization PAWS Chicago is now accepting “Dogenations”. This means: donations in Dogecoin! In addition to DOGE, other cryptocurrencies such as Bitcoin and Ethereum are also accepted.
Susanna Homan, PAWS Chicago Chief Executive Officer:
“We are a solution-oriented, forward-looking organization. That’s why we’re very keen to connect with the growing cryptocurrency community who can help support the future of animal welfare in Chicago and save the lives of animals. “
The organization is promoting this with posters showing a dog with the popular “laser eyes”. “Much wow!” Would probably be said in the DOGE community.
– Dad (@PudgyPapa) August 23, 2021
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