It is a query that many buyers are asking as cryptocurrency continues to achieve reputation.
Whereas there isn’t any easy reply, there are just a few components to think about that would show you how to make a prediction.
Dogecoin (DOGE-USD) is a cryptocurrency that was created in 2013 as a solution to satirize the Bitcoin craze. It’s typically referred to as the “joke foreign money” as a result of it was initially began as a prank.
Nonetheless, Dogecoin has since gained a big following and has grow to be a legit cryptocurrency with a market capitalization of over $600 million.
The “DOGEARMY” is a gaggle of Dogecoin lovers who’re very energetic on social media and infrequently promote the foreign money.
Because of their efforts, Dogecoin has grow to be one of the standard cryptocurrencies.
The place Are you able to Purchase Dogecoin?
Dogecoin will be purchased on a wide range of cryptocurrency exchanges corresponding to Binance, Kraken, and Robinhood. It can be purchased with fiat foreign money on a number of exchanges together with Changelly and Shapeshift.
Value Historical past of DogeCoin
Dogecoin has seen plenty of volatility in its value historical past. When it first launched in 2013, one Dogecoin was value $0.00026.
In January of 2018, the value of Dogecoin surged to $0.017 after reaching a market capitalization of $2 billion.
Dogecoin’s all time excessive value was $0.018 in January of 2018 with it’s most up-to-date low being $0.0027 in March of 2020.
Right here’s a take a look at the value of Dogecoin relationship again to 2014 to current day:
Elon Musk and Dogegoin
Dogecoin has gained plenty of consideration as a consequence of tweets from Tesla CEO Elon Musk. Musk, given the final word title of “Dogefather”, has been a vocal supporter of Dogecoin, even calling it his “favourite cryptocurrency” at one time.
On his first Saturday Evening Reside look, Musk joked that Dogecoin is perhaps the longer term foreign money of Earth. This despatched the value of Dogecoin hovering 10% in a matter of minutes.
Musk has additionally allowed Tesla clients to pay for his or her vehicles with Dogecoin (based on their web site you would want to arrange a correct dogecoin crypto pockets). You can too buy Tesla merchandise and so they started rolling out accepting dogecoin as payment at a select few of their Super Charging stations.
In the course of the current crypto winter Musk hadn’t been as vocal in supporting Doge, however he did not too long ago share this tweet:
Whereas Elon Musk’s tweets have helped to extend the value of Dogecoin previously, you will need to bear in mind that he’s not affiliated with the corporate and his tweets shouldn’t be taken as monetary recommendation.
Will Dogecoin hit $0.10?
Dogecoin has already hit that elusive value of $0.10 so the larger query is:
“Will dogecoin hit $0.10 once more?”
It is a tough query to reply. Dogecoin has plenty of potential as a consequence of its giant and energetic neighborhood, in addition to the endorsement from Elon Musk.
Listed here are the important thing components whether or not Dogecoin will hit $0.10 once more:
- Elevated mainstream adoption of cryptocurrency
- Extra companies accepting Dogecoin as fee
- Continued assist from Elon Musk (and different
- Improved infrastructure for getting and promoting Dogecoin
If these components proceed to develop positively, there’s a good likelihood that Dogecoin will attain $0.10
Nonetheless, you will need to do not forget that the value of cryptocurrencies could be very risky and something may occur sooner or later. Solely time will inform if Dogecoin will hit $0.10 or not.
Dogecoin Value Predictions
I knew there have been different Doge lovers that had their opinion on its future value and I needed to listen to their take.
Matt Wallace, a crypto content material creator with over 245k subs in his Youtube channel has been an enormous Dogecoin supporter by way of the years.
I hit him up on Twitter to see if he thought Dogecoin to hit 10 cents once more.