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The London Crypto explains why they think dogecoin will quickly lose popularity

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News Tech: Dogecoin is popular with celebrities. Even if they couldn’t agree on much, celebrities who previously couldn’t stand each other are now all in favour of Dogecoin. Veteran cryptocurrency investor The London Crypto, though, dismisses this as a “cool kid’s bright new toy” and a simple passing craze. We had a frank discussion with The London Crypto about why he thinks a billionaire like Elon Musk, who is currently a fervent fan of Dogecoin, won’t stay one for very long.

To start, unlike the majority of the biggest cryptocurrency initiatives, Dogecoin has no real staff or community. This implies that no one is there to help you if you need it. You may have to wait for several months if you ever require the Dogecoin team’s assistance in an emergency scenario.

As a joke, it first appeared. Dogecoin was created as a joke at the expense of Bitcoin. It was all just silly comedy when it was first created in 2013. It now stands side by side with the Bitcoin it previously disparaged. This is mostly due to Elon Musk referring to it as his favourite coin. The London Crypto provides a few arguments as to why it would cease to be his favourite.

“Its security is as big a joke as the meme itself”, says The London Crypto. Dogecoin is plagued with problems – from issues related to wallet hacking to negligible computing power. No cryptocurrency can go on for much longer with issues as serious as these, and in the course of time, such projects usually suffer staggering losses before being forced to shut down. The London Crypto points out that, such issues are usually something expert investors like Elon Musk are already well aware of. Which makes Dogecoin and its plethora of problems a ticking timebomb that could go off in the face of any novice investor who wasn’t smart enough to run away in time.

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