The volatility of cryptocurrencies makes it an exciting investment opportunity with the potential for high returns on initial investments. Crypto is also getting more of a foothold as an alternative to fiat currencies, with more online operations accepting it.
Despite this, Dogecoin (DOGE) has failed to come close to its highest recorded value of $0.74 in recent years. Moreover, it shows no signs of changing any time soon.
To combat market stagnation, newer alternatives are coming up with ways to offer more value to consumers. Rexas Finance (RXS) is one of these, and experts predict it could surpass Dogecoin soon.
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Dogecoin
Dogecoin was the first ‘meme coin’ and was launched in 2013. It was introduced as a bit of fun by creators Jackson Palmer and Billy Marcus. Surprisingly, DOGE found an audience and reached its peak value of £0.52 per coin On 8th May 2021.
One of the reasons that Dogecoin enjoyed success is that it was widely adopted. It has also become one of the key currencies in the online gambling industry, alongside Litecoin, Ethereum, and Bitcoin.
The online gambling industry was one of the first to embrace cryptocurrencies and grew at a similar time. The convenience offered by gambling websites and apps has helped consumers place wagers whenever and wherever they are.
Gambling expert Rick Elliot also explains that cryptocurrencies make it easier for bettors to explore non-Gamstop casinos in the UK. Here, they can enjoy access to international sites that offer competitive bonuses, higher betting limits, and flexible payment options, including Dogecoin.
The coin is worth just over £0.08 today despite having more than 62,000 users owning 36 billion Dogecoins. There have been recent signs of growth. However, experts still fear that Dogecoin could struggle to get close to its peak value soon.
Rexas Finance
While Dogecoin continues to toil, Rexas Finance (RXS) is making a name for itself as a digital asset that offers RWA (Real-World Asset) tokenization.
Digital currencies offer great value and benefits to users around the world who want fast, secure, and cheaper ways of making payments and transfers. Still, Rexas Finance is going one step further by offering even greater value to investors.
RXS is helping bridge the gap between real estate, commodities, and gold markets and the digital world by implementing blockchain technology to tokenize their assets.
It allows users to offer investment opportunities in a variety of assets and can facilitate full or partial ownership through investment.
In addition to the tokenization of real-world assets, Rexas Finance also aims to revolutionize the fundraising industry through tokens. It could be a game-changer for startups who need access to capital without the time and difficulty of traditional methods.
It is already enjoying success by selling out stage one investment opportunities and raising almost half a million dollars. Stage two was quick to follow, and the project raised $1.77 million with a token value of $0.05.
The Future of Dogecoin
While Dogecoin began as a joke, it grew into a multi-million dollar company. If it is to compete with new alternatives like RXS, it might have to reevaluate its goal and branch out into developing markets. In the meantime, investors and enthusiasts should follow the Dogecoin movements to dodge the potential price drops.