What is Dogecoin?
In a way, Dogecoin is a joke gone too far. It was created in 2013 by Billy Marcus as a mockery of Bitcoin. It was based on Luckycoin’s blockchain and a popular at the time doge meme became the face of the currency. Hence the name. Dogecoin is sometimes regarded as an educational tool for novice investors. With such a predictable coin it is easy to just follow some DOGE news outlets and make a feasible Dogecoin price prediction.
Why is Dogecoin different?
Unlike Bitcoin and many other coins, Dogecoin is an inflation cryptocurrency. That means that DOGE holders wouldn’t face the main BTC issue, stagnation. In addition, it is often used for various charities. With its help, sports organizations and projects to provide people in need with drinking water were sponsored. DOGE, that often helps the beginners to get acquainted with the market, has a high degree of liquidity, especially in comparison with other tokens of the same low price level. On top of that, Dogecoin is very popular with Asian investors, especially in Japan and Korea. Support from the richest countries of the region provides ever-growing demand that’s proved by Dogecoin’s price history. DOGE has a small transaction processing time and a small commission. Quick and cheap deals are just what people need.
Dogecoin Price Analysis
Looking at all the benefits listed above it would be logical to assume that DOGE price charts showed steady growth from the very beginning (or at least in the last couple of years). Well, not quite.
In May 2017, there was a rapid increase in the Dogecoin rate, but by the end of November of the same year, the rate was steadily falling. In December, the third huge increase in the price of currency was repeated. At the peak, the rate rose to $0.018 and has now dropped to $0.002. Similar jumps occurred again in 2018. There is a huge possibility that the situation will happen more than once or twice.
Dogecoin Price Prediction 2019, 2020, 2023
Dogecoin entered 2019 at the $0,0023 mark. Unsure in the current state of the market, analysts are careful with making statements on DOGE future price. Analysts point out a few factors that indicate that the price is going to grow. First of all, the coin has a greater intrinsic value than many others and it will only grow over time. The more people use DOGE the more stable the coin price will be. Due to its use in the real world, Dogecoin will continue to amaze the market. Some careful predictions promise 18% by the end of 2019, some of the bolder ones insist on the price reaching $1 mark this summer.
To sum it up, the success of Dogecoin is a true miracle. It doesn’t have any particular advantages but simplicity and accessibility. However, DOGE exists for more than five years, and during this time the coin has made it to the list of the most reliable projects. This is a long time for the cryptocurrency market and the trust of investors and traders make DOGE price predictions seem positive nonetheless.
Hope you’ve enjoyed our Dogecoin price prediction! Stay tuned for more on ChangeNOW!