DogeCoin proves store of value properties while most of the altcoins are being on a straight-down path so we are reading further in the Dogecoin news today.
The popular crypto researcher and analyst Willy Woo posted on Twitter about his opinion on the type of altcoins of interest to investors and regardless how nuanced the altcoins are or manifested as protocol coins, utility coins and non-fungible coins, the only two types that have actual relevance to investors as Degenerators and Oscillators.
However, the vast majority of the altcoins are Degenerators according to Woo. He explained:
“Their price chart has a measurable half-life, like radioactive decay. Plotted on a log chart, it’s a straight line down,” he explained by giving Namecoin (NMC) as an example.
On the other hand, there are only a few Oscillators and one of the most surprising examples of such a coin is Dogecoin (DOGE). The cryptocurrency was made as a joke and is now ranked at number 30 by its market capitalization and is considered as an Oscillator. Woo says that Dogecoin proves the store of value properties and to qualify, the coins have to keep up with Bitcoin/USD gains. In order to find oscillators, the coin has to oscillate around a horizontal line for at least one full bull-bear cycle which is around every four years but more than one cycle is better.
One doesn’t need a lot of innovation and technology to build value in a coin according to Woo. He says that ‘these are monetary instruments, they build value with economic network effects’ and he finds Dogecoin as an example of an altcoin with no significant technology or smart contracts and it has not also some of the major issues in the crypto and blockchain world.
However, the researcher believes that Dogecoin achieved SoV properties due to the Lindy Effect and this one of the more interesting things that you will come across in everyday life wherever you turn. This means that the future life expectancy of a non-perishable thing is proportional to the current age and the mortality rate decreases with time. Furthermore, DOGE is listed on almost all of the exchanges and supported by most wallets.
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