Contessoto himself also tells his followers not to invest more than they could afford to lose. Designed to make shopping easier. Still, he admits that DOGE "is only worth something because people want to believe in it.". Secondly, DOGE holders have the Elon Musk SNL episode to look forward to. He added that Dogecoin would see strong support between 0.0772 and 0.0792 levels, as data from IntoTheBlock suggests that approximately 27,000 addresses scooped up 5.89 billion DOGE tokens at these levels. To answer the question at hand, one could look at the coin using the more traditional factors usually considered when evaluating the strength of a digital currency offering, factors like blockchain protocols, use case, price action, circulating supply, and strength of the development team. The Dogecoin protocol is based on the now-defunct Luckycoin, which was a fork, or spinoff, from Litecoin (LTC). Investorscould get burned, so they should invest only what they can afford to lose. Dogecoin started out as a joke. Fast forward to August 2021, and you will have to fork out a hefty $0.35 for the very same coin . Dogecoin will reach $0.1096323 on the higher side and $0.0745500 on the lower side at the close of the year. On the bright side, financial giants including JPMorgan, Citi, and Sachs are contemplating establishing crypto custody. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up. One of the most promising aspects of fundamental analysis is the growing popularity among A-list celebrities. The floodgates truly opened for Doge when Elon Musk jumped aboard the hype train and riled his fans up into a frenzy after tweeting that "dogecoin might be my fav cryptocurrency." Cryptocurrency, Culture, International News, Video Games, Misinformation, Conspiracy Theories, Cryptocurrency, NFTs, Movies, TV, Economy, Stocks, experiencing issues with cryptocurrency trading. We saw Milky Way, Snickers, Slim Jim, and others tweet support for the cryptocurrency, with the goal of sending the coin to the moon (crypto-talk for a coin that is soon going to rise significantly in price). These include activity on the Reddit thread r/WallStreetBets among the #DogeArmy, the social media hype surrounding #DogeDay (April 20), and tweets from celebrities and brands, including Tesla CEO Elon Musk. You Might Have To Take A Test To Trade In This Country. Dogecoin, the cryptocurrency that features the face of a Shiba Inu dog as its logo, has surpassed 10 cents for the first time. If a big 2017-esque crash is waiting around the corner, then $0.01 would be a better price prediction. In July DOGE almost doubled from $0.002286 to $0.004543 in the space of a few days. According to an online forecasting website Wallet Investor, DOGE could double again from the $0.05 level to reach $0.10 later this month. While . The Great Resignation: Why workers say they quit jobs in 2021 | Pew Investors who bought in will have ended up nursing some nasty losses. The Dogecoin price movement on charts is a mixture of bullish candles and a ranging market. The price will close at $0.1 price in May 2023, which represents a 55.75% change. The altcoin hit a record 69 cents Wednesday morning, flying past its previous high of 43 cents back in April. Capital Com is an execution-only service provider. Daniel Van Boom is an award-winning Senior Writer based in Sydney, Australia. The material provided on this website is for information purposes only and should not be understood as an investment advice. The value of dogecoin, a cryptocurrency originally invented as a joke, surged to an all time high of over 50 cents Tuesday, a landmark as enthusiastic online traders continue efforts to push the . The digital currency originally based on a meme - Dogecoin - has taken the world by storm over the past twelve months. Dogecoin is a cryptocurrency based on the "Doge" meme, which rose to popularity in late 2013. Currently, there are more than 129 billion Dogecoins in circulation, and each minute 10,000 DOGE are added into the network. The good news is that this figure is certainly not out of the realms of possibility, especially if Bitcoin and the cryptocurrency industry as a whole can continue with its current trajectory for the rest of the year. But remember, the cryptocurrency industry is still young and volatile, and due to Dogecoin having a weak use case and no supply cap, while the numbers may be looking good now, it could easily go the other way. We want to hear from you. The price is expected to reach a high of $0.079470 in October, jump to $0.0798154 in November. (More on that a bit later). One thing should be said here, that over the past few months, these incredible price increases have indeed provided opportunities to make money in the short term. It's not the first time dogecoin has seen a wild climb. Want To Trade Bitcoin, Ethereum And Dogecoin? These investments simply arent there for Dogecoin. 2023 Tech Times LLC. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor,previously toldCNBC Make It. Dogecoin started 2021 on a bullish note, doubling on January 2 from $0.005405 to $0.011427, and was trading at $0.007432 on January 27, before the most recent rally took it to an all-time high of $0.07818. Whats more, Payments giants MasterCard is set to unveil a platform that will allow merchants to receive cryptocurrency payments. The minimum is forecast to be $0.0521378. The platform has around 20 million users around the world. Dogecoin has experienced high price volatility like any other cryptocurrency. Jack Dorsey Slams Elon Musk's Handling of $44 Billion Acquisition Deal: What Happened? "You just gotta zoom out and chill," Contessoto, 33, told CNBC Make It. Like other cryptocurrencies, Dogecoin is characterised by high price volatility. It started out as a joke. What the data says about gun deaths in the U.S. How much a $1,000 investment in dogecoin at the start of 2021 is - CNBC DOGE now has a market cap of $6.39bn, according to digitalcoinprice.com, ahead of altcoins like Uniswap, Aave, EOS and Monero. While the rest of the economy dipped, most cryptocurrencies prices increased or maintained their prices within the range. Created in 2013 by software engineers Billy Markus and Jackson Palmer, dogecoin was intended to be used as a faster but "fun" alternative to bitcoin. Dogecoin is still in the dog house after Elon Musk's 'SNL - CNN CRYPTO-SAVVY is an occasional series from Inverse that explains the world of cryptocurrency and where its going next. Currently, it ranks 10th globally. Here's What Simulation Reveals, New Balloon Flying Over Hawaii Under Investigation from the US Military, Unknown if it is from China, Tentative Exynos 2500 Specs Spotted Online: Leaks Show 10-Core CPU Performance, CryptoWatch: is Cryptocurrency Dead in the US? To put this into context, if investors purchased $100 worth of Dogecoin on Dec. 22 . Tesla CEO Elon Musk is Doge's highest-profile supporter, and histweets related to the cryptocurrency tend to lead to a jump in its value. It gained over 43% and has found its footing once again near the 40-cent mark. Dogecoin price surpasses 10 cents to reach an all-time high - CNN The minimum price will be around $0.0509205, while the maximum is expected to gravitate towards 0.0748831. Built by software engineers Billy Markus and Jackson Palmer during the early Bitcoin craze and featuring a "mascot" of the then-popular meme featuring a Shiba Inu dog, the coin was originally conceived as a meta-joke about monetary value and the internet. The cryptocurrency is based on the "Doge" meme, which rose to popularity in late 2013. The price was up 36% from the previous day and has risen 95% over the past week. The reason for these huge rises and falls is due to the fact that Dogecoin is inherently an extremely volatile coin.
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