Dogecoin is the joke currency that became a serious player in the cryptocurrency world. It has been around for years, but it’s never been more popular than now. Will it really reach $1?
The will dogecoin reach $1, 2021 is a question that has been asked many times before. Many people are skeptical about the long-term success of Dogecoin because it was created as a joke.
There isn’t a month that goes by without the meme-based Shia In Bu symbol, Dogecoin (DOGE), gaining traction in the crypto market. When it comes to the DOGE, unexpected surges and drops are commonplace. Similarly, the word spread like wildfire, and everyone was talking about it on social media as the DOGE price continued to rise over the last 24 hours.
The Spike Hype of 17 Percentage
It was towards the close of 2013, when two programmers by the names of Jackson Palmer and Billy Markus released the now enthralling DOGE. At the time, the cryptocurrency was created only as a prank, as a meme-based coin intended just for amusement. No one could have predicted at the time that DOGE would soar to such heights. Despite this, the entire market value of DOGE is estimated to be about $44.42 billion.
Similarly, the news that has swept social media and the whole crypto business is about how the graph of DOGE has risen in the last 24 hours. Since August 15th, the value of DOGE has been steadily increasing till today. DOGE soared up to almost a two-digit rise in percentage of approximately 17 percent for the first half of the period. Furthermore, it continued to grow at the same rate, reaching about 33%, which surprised everyone.
Furthermore, this isn’t the first time DOGE has risen by 33%; it has done so many times in the last year. Furthermore, this prompted a flood of others to go to social media with the hashtag #dogecointo1dollar, making it a trend. Thousands of individuals used the hashtag to show their support for DOGE on Twitter.
Similarly, the hashtag #dogecointo1dollar is being used by tens of thousands of people on Facebook right now. Furthermore, Tiktok, a social media site, had over 8.2 million views on individuals using the hashtag.
Other DOGE-like Cryptos on the Rise
The whole market seemed to be perplexed as to how other cryptocurrencies comparable to DOGE had performed throughout DOGE’s surge in the previous 24 hours.
Following this, the Shiba Inu (SHIB), a similar meme-based currency, increased by more than 12% over the previous week. Similarly, over the same week, polydoge (POLYDOGE) soared to a high of approximately 43 percent.
Other meme-based cryptos that followed DOGE, such as the Supershiba ($SSHIBA) and the shibance token (WOOF), had a 40 percent increase.
On the contrary, it seems that some individuals believe that all of these DOGE copycat cryptos will follow in the footsteps of the DOGE, and that they will all become the next DOGE. However, time will tell; let us wait and see, as many are hoping for the same thing!
The why dogecoin will never reach $1 is a question that has been asked many times. There are many reasons why dogecoin won’t make it to the top of the cryptocurrency market cap list, but one of the most important things is its low liquidity.
Frequently Asked Questions
How much will my Dogecoin be worth if it hits $1?
Can Dogecoin be $100?
This is not possible. Dogecoin cannot be worth more than 100 because it has a maximum supply of 100 billion coins, and there are currently just over 100 billion in circulation.
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