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Can Cryptocurrency Hit $1?

DOGECOIN started out as a “joke” cryptocurrency but interest in the coin has grown since its launch.

We explain how Cryptocurrency of predict the value will change in the future and whether it can reach $1 in 2021.

Dogecoin price spiked in May before falling again

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Dogecoin price spiked in May before falling again

Remember to buy electronic money It is always a risky business, and you should only invest what you can afford to lose.

They are very volatile and your cash can drop as well as increase in the blink of an eye.

Newer coins like Dogecoin are even more volatile than other cryptocurrencies.

It’s important to only invest in things you understand, and some crypto products and services can be very complicated.

Before investing, you should do your research as crypto companies are not regulated like other financial companies.

This means you won’t have any protection if things go wrong and you could lose all your money.

What is the price of Dogecoin?

Dogecoin price is $0.1962 at time of writing, up 20% over the last 24 hours, according to CoinMarketCap.

The increase in trading can be attributed to Tesla CEO Elon Musk sending a favorable message today about the coin.

“Tesla will make some merchandise purchasable with Doge and see how it goes,” the billionaire tweeted.

However, the price has fallen from the highs reached earlier this year, when the Dogecoin price spiked to $0.70.

The increase comes later Celebrities include Mr Musk and Snoop Dogg have publicly supported the coin.

However, Musk’s appearance on Saturday Night Live in May caused Dogecoin’s value to plummet.

The price of Dogecoin was over $0.70 on Saturday of the show, but as soon as Musk mentioned the cryptocurrency, the price dropped to $0.47.

It then continued to drop to as low as $0.25.

Since then, Dogecoin has been extremely volatile.

Dogecoin was first launched in 2013 and took the image of the dog Shiba Inu as the company’s logo.

This image became a popular internet meme called doge, and it featured a dog surrounded by text in a sans comic font with words like “much wow”.

Software engineers Jackson Palmer and Billy Markus originally created Dogecoin as a joke based on this meme.

It was marketed as a “funny” version of bitcoin but has increased in value and attracted more interest since then.

Today Dogecoin is known as a coin meme, often obtained from a social media or an internet joke rather than the fundamentals of the coin itself.

Dogecoin price prediction for 2021

It is nearly impossible to predict whether the Dogecoin price will drop or rise this year because the cryptocurrency is so volatile.

The market is unpredictable because it affected by a number of factors, including regulatory crackdowns and comments by prominent individuals like Elon Musk.

Sarah Coles, a personal finance analyst at investment firm Hargreaves Lansdown, told The Sun: “Forecasting what’s going to happen with the meme is like predicting what is likely to trigger the next fury. follow in a room full of toddlers.

“Because it has no underlying value, it’s generally not used for transactions, and is a terrible store of value, the price is driven by a very unpredictable sentiment.

“So while people can point to past patterns and speculate on whether they will happen again, in reality it’s impossible to say for sure.

“For those toddlers, any of them can warm up at any time.”

But that hasn’t stopped some crypto fans from anticipating what they think will happen to the price of Dogecoin.

Wallet Investor predicts that Dogecoin will reach $0.390 in the next year.

Meanwhile, Digital Currency Price is a bit less optimistic, predicting that the price will reach $0.356 by 2022.

But remember, price predictions can change if more bullish or bearish trends emerge.

Changpeng Zhao says ‘even memes have value’ after Elon Musk promotes Dogecoin

https://www.thesun.co.uk/money/15920653/dogecoin-price-prediction-2021-can-the-cryptocurrency-reach-1/ Can Cryptocurrency Hit $1?

Bobby Allyn

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