Can Dogecoin reach $100? It might be a concern for most people who are involved in this business. Dogecoin is a cryptocurrency that was created in 2013. It was initially set to be just a bit more than an analogue of Bitcoin, but today it has its own market and community, which makes Dogecoin like a small enterprise-being with many liabilities (which also grow together with the coin), but always enough help (upvotes) for it to cope with them.
Generally, the community is very friendly (unlike other cryptocurrencies) and ranks among the most sociable ones because of its user’s activity and moderation authority. It’s very united despite the fact it has a mascot – a Shiba Inu – that was initially made for Dogecoin-related memes only.
It has a large number of transactions (over 220 000 daily on average) and also very fast ones. However, at the same time, it’s not second to Bitcoin in emission. Just like any other cryptocurrency, Dogecoin is decentralized and free from governmental regulation.
About Dogecoin Price
Briefly about Dogecoin price: in April 2015, it reached its maximum, equal to $0.017, and it had a sharp decline of over 80%.
At the beginning of 2017, the Dogecoin price was quite stable at around $0.002 (if converted into USD), but with the passing months it grew up only along with the market’s capitalization. In December 2017, Dogecoin reached its all-time high equal to $0.0175, which was also a record in Dogecoin’s history.
Today Dogecoin’s price is around $0.002 (converted into USD). Based on the forecasts, experts believe it will grow up along with the market capitalization and could reach even $0.01, which is a 100% increase from its current price.
Dogecoin market capitalization grew up during 2017 and reached $1 billion at the end of the last year. It was created in 2013 and had a sharp rise (over 200%) in 2016 when it reached $400 million. In December 2015, Dogecoin’s market capitalization dropped down to $80 million, but since 2016 it has constantly grown up.
Currently, it’s equal to $0.8 billion and is ranked as the 31st largest cryptocurrency. It can be easily purchased or sold on such exchanges as Bittrex, Poloniex, or Cryptopia, for example. If needed, a small transaction fee is applied.
Best Dogecoin Exchanges:
Dogecoin as stable Cryptocurrency
Dogecoin has over $8 billion capitalizations and $8 million prices, so it’s quite popular nowadays. The rate of DOGE to USD grew up to 10% during the last week.
It is a very stable cryptocurrency, so it is a good idea to invest in Dogecoin now and not wait until its price will grow up. If you want to purchase DOGE, then the best way is to do this on such exchanges as Poloniex or Cryptopia. In general, this is a very good currency that will surely grow up.
How to Purchase Dogecoin
To purchase Dogecoin, you need to buy it on such exchanges as Poloniex or Cryptopia and convert it into USD or BTC. If you want to exchange DOGE for BTC – this will be a bit more problematic than converting it into US dollars. You need to look for the best Dogecoin exchanges which will help you with this.
Will Dogecoin reach $100 per coin?
Dogecoin is a cryptocurrency designed for tips on the internet, where it has become a very popular practice. The coin started as a “joke currency” but its community took it seriously and today Dogecoin is one of the top 10 currencies by market cap (over $1B). Dogecoin reached almost $2B in February but then the crypto-market entered a deep correction and Dogecoin decreased with it.
During winter, everyone thought that Dogecoin would be dead. But Dogecoin was just sleeping: it now seems to be back with many projects (new wallets, Linux release…) and has started to attract attention again. Dogecoin was actually one of the first “altcoins” to become a true cryptocurrency and not just an idea/meme.
Rates of Dogecoin?
If you invested $1,000 at the beginning of last year (2017), it would be worth $30,000 today. By applying such a rate to Dogecoin, it can be concluded that Dogecoin might reach $100.
Can Dogecoin reach $100?
There is no strong reason to think that Dogecoin will NOT be able to reach 100 Dollars in the future. There are only some slight chances for this highly unlikely event to occur, but still, there are chances! Dogecoin might reach $100 in the future, but there is no strong reason to think that it WILL BE able to. Still, there are chances for this event to occur!
Let’s go over these points one by one:
First of all, it has become a very popular cryptocurrency designed to reach a wider range of people. It is now worth $0.006960 USD per DOGE, and it might hit the $1 mark by 2020-2021 (as predicted by Walletinvestor.com), which would mean that the total market capitalization has reached over $89 billion, so there is potential for still growth in terms of market cap.
Secondly, Dogecoin mining is still very popular among cryptocurrency enthusiasts that are looking to invest in mining with lower costs (like high electricity prices or high hardware costs), so this means they would be able to generate DOGE coins at a much cheaper cost than with other cryptocurrencies like Bitcoin, Litecoin, Ethereum or Monero.
And lastly, Dogecoin has attracted more people to cryptocurrency since it is easy to understand and cheap to mine (in terms of hardware costs), so there might be some potential for growth with regards to market cap.