Will Dogecoin be able to breach the $1 mark in 2021?
Dogecoin has been at the centre of this crypto bull run. Over the past few months, Elon Musk has been pumping Dogecoin a lot through his Twitter account and appearance on SNL. Over the past few days, the Telsa CEO has shown immense support for Dogecoin, tweeting that he has been working with Dogecoin developers to speed up and make Dogecoin more efficient. Moreover, Dogecoin has blown up in 2021, going from a price of $0.04 at the beginning of the year to about $0.74. In this article, we’ll take a look at Dogecoin Price Prediction.
What is Dogecoin?
The Dogecoin crypto was first formed back in 2013 as a joke. The creators of Dogecoin built Doge to be a friendly introduction for the general public to the world of cryptocurrencies. Doge became popular over the years because of its status as a meme, and it had the popular ‘Shiba’ doge as the face of currency. Just a couple of years ago, the price of Dogecoin was a few pennies. Over the past few months, the coin became increasingly popular all over the world. People started to buy the coin due to its relatively very cheap price, compared to other currencies. Celebrities like Jordan Belford and Elon Musk often promoted the coin and brands such as Slim Jim also made it a part of their marketing campaign. Dogecoin is slowly seeing mass adoption as many companies have started accepting DOGE as a form of payment. With Elon Musk’s claims to make Doge better, there is a good chance Doge might go up in price.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
— Elon Musk (@elonmusk) May 16, 2021
Dogecoin Price Prediction
If Elon Musk manages to bring changes to Dogecoin to make transactions faster and fees lower, Dogecoin will most likely shoot up in value. Making crypto price predictions can be difficult, especially given the fluctuating price of Dogecoin. Fortunately, many crypto experts have given their price predictions for Dogecoin. As per Digital Coin Price, Dogecoin could reach a price of $1.5 by the end of 2025. As per CryptoNewsZ, Dogecoin could reach a price of $1.07 by the end of 2021. However, readers should take these price predictions with a grain of salt. Investors can buy Dogecoin on most major crypto exchange in India and abroad.
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