Dogecoin (DOGE): Price Prediction, Will It Hit $10?
✍️ 22 October, 2022 - 12:29 👤 Editor: Jakub Motyka
- Dogecoin (DOGE) is the top meme coin in crypto history. Despite being born as a joke, today it is in the top 10 of the best cryptocurrencies by market capitalization.
- Will its price go up? What is your price prediction going forward? Can the price of Dogecoin (DOGE) reach $10 one day?
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Dogecoin (DOGE) has revolutionized the cryptocurrency market and the internet in more ways than one, which makes his overall prediction a positive one. What started Just as a critic of Bitcoin (BTC) and its followers, it didn't take long for him to become famous. Today, it is logical to ask: can the price of Dogecoin (DOGE) reach $10?
Today, Dogecoin (DOGE) has its own project and the support of one of the most eccentric billionaires in the world. Will he be able to return to his all-time high? How far will it go? We discuss it in this article.
Dogecoin was born as a joke by programmers Billy Markus and Jackson Palmer. Using the Litecoin codebase, they devised a cryptocurrency based on the popular meme, Doge, kicking off the dog-themed coin war. Currently, its price is in the range of USD 0.057, after several months of downward trend.
What Is The Problem With Dogecoin (DOGE) Regarding Its $10 Price Prediction?
Like the vast majority of meme coins on the market, Dogecoin (DOGE) did not have a project until recently. Put another way, your cryptocurrency with unlimited supply has no real utility.
Despite the fact that their white paper says that money has a utility, and Dogecoin is money, it does not mean that DOGE is actually useful. Especially considering that its supply has a highly inflationary nature.
Remember that Dogecoin is a project led by its community, so it lacks a project and a roadmap. However, the Dogecoin Foundation has done its best to change this fact.
To do this, many new utilities have been proposed for the ecosystem, such as the creation of its own network, Wallet and an offline exchange platform. The latter uses the public Starlink network to allow transactions to be made without the need for an internet connection, something that could change the world and the economy.
When Will Dogecoin (DOGE) Reach $10 According To The Price Prediction?
Taking into account the problem of unlimited supply, Dogecoin (DOGE) is unlikely to reach $10. To do this, the growth in volume and demand for the token, its market capitalization, would have to exceed the issuance of new tokens.
It is expected that by 2023, Dogecoin will recover 0.13, and subsequently remain above 0.20 dollars. Whether it can overcome its last ATH will depend largely on its new applications.
However, Dogecoin has managed to surprise us countless times. What is not so clear is that it will be able to do it in the short term to the point that the $10 price forecast for Dogecoin (DOGE) is feasible.
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