Home Cryptocurrency

Dogecoin price: Will the memecoin ever reach $100? – Marca English


The limitation to be accepted as a form of payment and the lack of confidence among investors are some of the challenges faced by this cryptocurrency
For several analysts, there is a high probability that Dogecoin will reach $1 per coin.
Now, there are also voices of more measured experts who indicate that over the decade, the cryptocurrency could reach a value on the exchange market of up to $10 per Dogecoin.
However, no one dares to foresee a scenario where it reaches $100 per coin.
Among the factors preventing such a high escalation in value, not only of Dogecoin, but of the rest of the other cryptocurrencies, is the fact that they are not yet so widely known, nor are they accepted in most places as payment. In addition, their value is unstable and even volatile.
There are specific data where it is pointed out that Dogecoin has low transaction rates and its transfer time is 10 times faster than that of Bitcoin. This means that it does not generate as much confidence for those who -after some time of acquiring it- get rid of it without caring about obtaining a minimum profit or even end up losing part of the value they paid at the beginning.
In relation to Bitcoin and Ethereum, the cryptocurrencies that lead the market and where investors take refuge to face the inflation that shakes the main economies of the world, Dogecoin has not managed to generate a sense of belonging among the people who acquire it.
There are currently about 18 million Bitcoins in circulation, and their market capitalization is about $900 billion, while the second most important cryptocurrency, Ethereum, barely exceeds a quarter of that market capitalization.
This compared to Dogecoin’s growth projection for 2030 looks abysmal, since it is projected that, at that date, in the best case scenario, it will have barely managed to reach 180 billion cryptocurrencies in circulation. Hence the limitation of being able to reach a value of 10 dollars per unit.
© Unidad Editorial Información Deportiva, S.L.U. Todos los derechos reservados.
Follow us


Previous articleHow To Download Netflix TV Shows And Movies? [Full Guide 2021] – Fossbytes
Next articleFAANG stocks plus Microsoft lost $1.4 trillion in market value during April – MarketWatch