Doge was below 1¢ in January. If you told people then that Doge would drop 10% in a single day...and be over a quarter in value and top 10 in market cap, you would have gotten much wow’ed out of the conversation. We are able to lose pennies a day now and have people with gains when they never saw a full cent at the start of the year.
Bitcoin has been tumbling for over a week. As far as trends go, if bitcoin goes one way, so too does everything else (barring some news, event, etc. that can give coins a different trajectory). Once Bitcoin gains its footing again and sees an upward trend, so too will altcoins.
Activity became bloated with investors hoping for a quick buck over the last week. But in that group of new investors were some true believers in the coin that weren’t in here before the 4/20 craze. This means after the dogeday dust settles and prices hit key support, there are more core investors in the community to maintain these levels and push back to ATH levels and beyond.
Fallout from dogeday is going to be rampant. The doge value comes from its community of investors. It is a process that will take time, patience, and continued support of the doge community for the value to stabilize and begin to climb again.
If Doge goes up only a penny a week until 2022 that is 36¢ to be gained (roughly 65¢ total value). That’s over double the current value. And the more resilience and widespread acceptance Doge has, the more willing serious investors will be to support and buy in, thus helping stabilize and increase the value.
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