Bitcoin challenged the traditional global financial market and stood tall for a decade attracting investors to the new financial order. Its phenomenal rise gave hope to day-to-day investors that the crypto market is designed for them and they too can earn fortunes with their investment.
While Bitcoin was the most talked about cryptocurrency, several other coins popped up in the market creating rivalries of its own such as Dogecoin vs Shiba Inu vs SafeMoon among others.
Dogecoin took over the 'most talked about crypto' mantle in early 2021 after Elon Musk's involvement and the meme-currency attracted new investors, mostly millennials, who pumped in their money and created a strong community full of fun and memes, which previously did not exist in the financial market.
There's no denying that Dogecoin now stands on the same stage with Bitcoin and Ethereum commanding a rabid fanbase that not only dishes out memes, but also sells merchandize like t-shirts, caps, keychains among others making it inclusive for all just like sports and movies.
Dogecoin has become the 'entertainment' of the financial world and is arguably the first coin to achieve such a remarkable larger-than-life feat.
Elon Musk had earlier stated that Tesla would accept Bitcoin as payment but later walked back on his comments saying the company would not accept Bitcoin as it is not environment-friendly. A month later Musk told Tesla would accept Bitcoin if they work on being environment-friendly but the damage was already done.
Bitcoin fell more than 50% since then and so did Dogecoin. On social media platforms, talks about how Dogecoin is much greater than Bitcoin began doing the rounds and new investors tried creating a rift between the two.
Circus of Infighting
However, not everyone liked the fact that the crypto market is slowly turning in to a circus of infighting and PAC Protocol's David Gokhshtein pointed out that for the crypto market to survive and thrive in the future, both Bitcoin and Dogecoin need to co-exist and all negativity must stop. ''#Bitcoin and $DOGE can co-exist. We don't need none of that negativity in this young space,'' he tweeted.
Both Bitcoin and Dogecoin need each other and only then would the crypto market reach new boundaries attracting newer investors along the way. At the time of publishing Bitcoin was trading at $32,214 and is up +4.45% in the days trade and Dogecoin is trading at $0.19 and is up +6.84%.