IS DOGECOIN FUNDING TOO MANY CHARITIES?

IS DOGECOIN FUNDING TOO MANY CHARITIES?
This is bad or is it good?

Does this mean NO MORE DOGECOIN?

f you haven’t noticed already, the recent drop in price has sparked a lot of debate within the community. Many are concerned that holders of the coin are not proactively trying to preserve the value of the coin. The argument you most frequently see is that Dogecoin is funding too many charities. The charities can only use fiat. As a result, they have to sell their Dogecoin and this repeated downward pressure is why we are in a rut.

It’s not a bad argument to take. It’s true — it certainly does create downward pressure. However, the real variable we should be paying attention to is just how much selling pressure it actually creates.

Dogecoin is funding too many charities. Fact or Myth?

Below you will find a compiled list of all major fundraiser and charity events Dogecoin has organized since its inception in December of 2013 (not in chronological order). Beside each event, you will also find the USD dollar value that the Dogecoin was traded for at the time.

• Doge NASCAR – $55,000
• Jamaican Bobsled Team – $25,000
• India’s Winter Games – $5,000
• Doge Movie – $2,200
• Doge4Kids – $30,000
• Doge4Water – $30,000
• Doge4Housing – $7,500