Even people who don’t follow the events on the crypto market could have heard about Dogecoin. If not, they definitely saw the meme that inspired the creators of this cryptocurrency. Yes, Dogecoin is the first original meme coin. Such a unique concept and attention from celebrities made this cryptocurrency one of the hottest topics in the crypto market in 2021. Are there any serious grounds for these discussions? What do DotBig experts think about this DeFi asset and its future? Let’s find this out.
Briefly about DOGE
The history of the first ever meme token dates back to 2013. Originally, it has been running on Litecoin but if you want to work with dApps, you can use its exact representation running on the Ethereum blockchain network under the renDOGE ticker symbol.
Although Dogecoin is a joke over cryptocurrencies, this is a serious and sustainable project. It has some advantages over traditional crypto projects. For example, it’s very simple to use on any device. This feature is the reason why many beginners choose Dogecoin as an alternative to complicated Bitcoin. Similar to other digital currencies, Dogecoin might be used as an online payment method to buy goods and services.
Unstoppable hype is one more thing that makes Dogecoin different from other cryptocurrencies. Even though there are enough new cryptocurrencies created as meme coins, so-called “Dogecoin killers”, Doge remains popular and discussed.
What will impact the DOGE price
As you all know, the crypto market is too volatile to dare make exact predictions on the price of cryptocurrencies. However, the majority of experts, alongside DotBig analysts, believe that DOGE is a good investment for holders. Today, it’s valued at $0.0682 but everything might change tomorrow because of:
- the capabilities of the coin; Dogecoin is now a speculative asset but it has great prospects to become a functional coin;
- the recovering market capitalization of the cryptocurrency;
- technical indicators that show the 770% growth of the coin’s price; this is expected to happen within the following 5 years - by the end of 2027;
- Elon Musk isn’t going to stop supporting Dogecoin; the world’s richest man is the biggest fan of DOGE, and his support really matters because his active position and meme on Twitter don’t let Dogecoin fade away.
Dogecoin exchange rate for the period from May to August 2022
Similar to Elon Musk, DotBig analysts support Dogecoin, because we see that it’s a great long-term investment. We expect that its minimum price in 2025 will reach $0.2, while the maximum point might cross $0.6.
Conclusion
Our today’s price prediction is based on recent news, technical analysis, and our personal impressions. In order to get deeper into this topic, you can study all these factors and your own and only then make a final decision on buying Dogecoin. Follow us and invest wisely.
No comments:
Post a Comment