Dogecoin is the trendy cryptocurrency that has received explicit support from celebrities like Elon Musk, the CEO of Tesla. But the most common question is how much will dogecoin go up, Like all cryptocurrencies, it is a digital currency that can be bought and sold as an investment and spent as money. The price of Dogecoin is considered to go up if some guidelines are met.
Dogecoin is the fifth most valuable cryptocurrency on the market, according to CoinMarketCap, having surged more than 6,000%.
Dogecoin was created as a joke on December 6, 2013 by a couple of software engineers. Created by software engineers Billy Marcus and Jackson Palmer, in 2013, as a way to seek to ridicule crypto enthusiasts.
The crypto-meme takes its name, and design, based on a meme that was well known at the time: the dog meme. Despite having started as a joke, today it is one of the most traded cryptos.
How much will Dogecoin go up?
Dogecoin has 129 billion coins in circulation and will continue to make new blocks of coins available to mine every year. That is part of the reason why a dogecoin takes time to rise in price.
How does it work and what is it for?
The Dogecoin blockchain network uses cryptography to keep all transactions secure.
In the case of Dogecoin, it is a good idea to use it as a means of payment but it is not a good way to save, that is, it is not an effective store of value. Since there is no limit to the number of Dogecoins that can be mined, crypto is highly inflationary by design. Therefore, it cannot be guaranteed that the price will rise exaggeratedly like other cryptocurrencies.
What does the future hold for Dogecoin?
Dogecoin is likely to undergo some changes in the near future. Despite the fact that the designers have remained silent on the subject, there are suspicions that this cryptocurrency may change its goals in the future.
If this happens, Dogecoin will join the top ten cryptocurrencies in the market, though keep in mind that this will take a lot of time and a lot of creativity.
WalletInvestor has predicted the price of DOGE by 2025. In the future, the asset will trend well. To determine how much Dogecoin will rise, we can take into account the potential it has, which leads it to be a new investment strategy. It is possible that the price of this coin will increase drastically by the year 2025, reaching 5 dollars.
The views and opinions expressed herein are solely those of the author and not necessarily those of Bixxus. Your investments in cryptocurrencies involve risks so you should do your own research.