Popular meme coin, Doge, grabbed its position again in the top 10 flagship assets category.
Dogecoin is a popular meme coin, which grabbed huge attention in this industry because of the support of Tesla CEO Elon Musk. Before the shoutout of Elon Musk, only a few people knew about it but now this coin is playing the game in the list of flagship assets in this industry.
At the beginning of 2021, Dogecoin successfully grabbed its position in the top 10. At some exchanges, the trading volume of Dogecoin was at the top with Ethereum and Bitcoin. But from time to time Dogecoin failed to grab its position at the top.
A couple of days ago the crypto market faced a huge correction. That crash showed a better mirror to the Investors to find the best one to invest funds.
Right now, with the recovery, Dogecoin is standing at $0.13/Doge and also it is standing at 10th rank. In December, Dogecoin failed to hold its position at 10th rank because of the increment in the trading volume of Luna. Right now Luna is standing at 9th rank.
Doge needs development supports
At the beginning of this year, Dogecoin Foundation showed its renewed planning for future work on the Dogecoin project. But all were just part of marketing.
On one side Elon Musk is supporting Dogecoin, on the other side, Elon Musk followers are giving buy support to Doge. All these are failed to give better stability to Dogecoin.
If we look at the Dogecoin project, from the point of development, then we will find that Dogecoin is not unique like other flagship blockchain projects. Because no smart contract feature, no NFTs support.
Bitcoin like king can show a better position in this industry because of first-mover advantage but here Dogecoin can’t. Developers needed something unique in Dogecoin so that people can use this coin in other use cases besides trading.