What is Dogecoin meaning?
Today, Dogecoin has become one of the biggest cryptocurrencies out there by the coin market cap which ranked 12th in the top crypto list. It had been created in 2013 by software engineers Billy Marcus and Jackson Palmer just for a joke and making fun of Bitcoin and other digital coins. But as we know right now, it is becoming famous and bigger. It is also created to be a Bitcoin alternative, but with different analytics, which means, Bitcoin has a limited supply while Dogecoin has an unlimited supply.
Dogecoin has a system mining every day that really differs from Bitcoin ( about 10,000 Dogecoin ), making this coin a great value and bigger than many cryptocurrencies.
What's more, Tesla will accept meme-based cryptocurrency Dogecoin as payment for its merchandise. Tweeted by Elon Musk on 13th January.
Tesla merch buyable with Dogecoin
Can Dogecoin Reach 100 Cents?
Seemingly, Dogecoin is not like Shiba Inu. This is because SHIB is somehow a newbie with a small market cap and doesn't support a mining system yet, but it has a big future view, while DOGE has already reached 69 cents last year with a market cap of $88 billion. ( May 08, 2021 )
In only one year, DOGE quickly reached the moon after hitting 2 zeros ( from $0.0074 to $0.0689 ). And, right now is likely to hit another zero to be equaled $1 per token.
Dogecoin's price today is $0.16 USD with a volume of daily trading of $897 billion USD. It is 12th ranked according to the coin market cap with $21 billion of its market cap.
The factor of Dogecoin does not only rely on the market cap but also depends on dynamic mining. It has been reported about mining 5 billion coins yearly, and according to that, it will likely be 180 billion coins by the end of this decade. Therefore, if 1 DOGE tends to be 100 cents, the market cap of Dogecoin will be $180 billion.
Apparently, Dogecoin will be able to reach $1 USD when its market cap will increase 5 times knowing that ( market cap today is $21 billion ). In other words, there has to be a lot of investment in this cryptocurrency. But that is very possible because Dogecoin is becoming more popular and its lower price recently will make many people spend money to buy it.
Conclusion
Dogecoin will absolutely reach $1 USD, and also possibly jump to $10 USD this decade. If you are planning to invest your money in this coin, you are more educated about trading and markets cap. The market is very hot to buy DOGE because its price has been very low recently.
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