Is Dogecoin here to stay? Dogecoin price: Is Dogecoin here to stay? Experts weigh in on the future of cryptocurrency.
DOGECOIN is a meme-based cryptocurrency that has gathered a large following of supporters in recent months. Is Dogecoin here to stay, or is it merely a passing fad?
Dogecoin has risen above £0.50 GBP ($0.70 USD) at times this year. However, Dogecoin, like all cryptocurrencies, has repeatedly demonstrated that the market is volatile and subject to alter at any time. This year, it has reached record highs as well as record lows on multiple occasions.
Earlier in August, the price of Dogecoin in US dollars was hovering at $0.19 to $0.20.
However, the price of DOGE began to rise around Saturday, August 7, according to CoinDesk data.
Dogecoin achieved a high of $0.272700 on Sunday, August 8, during the previous seven days.
According to CoinDesk data, Dogecoin was priced at £0.183345 ($0.254130) on Tuesday, August 10.
It has declined in price by -2.80% in the previous 24 hours.
Dogecoin had a market cap of £23.95 billion ($33.20 billion) as of August 10.
Because the price of all cryptocurrencies, including Dogecoin, might fluctuate without warning, it’s hard to predict Dogecoin pricing in the long run.
However, this website consulted with cryptocurrency specialists to find out what the future holds for the cryptocurrency.
Dogecoin has gotten a lot of attention in recent months, and the cryptocurrency’s popularity is reflected in its social media following.
Dogecoin prices have risen and fallen dramatically in response to events or tweets from celebrities, including Elon Musk.
While supporters may believe Dogecoin has the ability to soar to the heights of the main cryptocurrencies, such as bitcoin and Ethereum, experts have opposing viewpoints.
“I don’t see DOGE as marking a transformation in the cryptocurrency market or becoming a long-term and leading cryptocurrency,” Michael Stroev, the COO of Nebeus, told This website.
“Dogecoin is regarded as a speculative coin with no real-world value.
“It should be treated as a high-risk crypto alternative, and consumers should not buy in DOGE without first realizing how precariously balanced its value is.”
“[Dogecoin] is still keeping its value and is stable at roughly $0.20, despite China’s push to outlaw cryptocurrency mining,” said Dr Pooja Lekhi, Lecturer at University Canada West.
“It has a few benefits over bitcoin. In contrast to bitcoin, which is designed to be.”Brinkwire Summary News.”