Last Updated on September 1, 2022
Out of the wide array of cryptocurrencies that are on the market, there are many people that consider Dogecoin to be one of the most interesting of the bunch. Dubbed as a memecoin, Dogecoin wasn’t necessarily made to be a successful digital currency – it was simply made as a joke. But this in itself is what brought so much attention to the asset.
If you’re looking for promising crypto to invest in, there are several reasons why DOGE could be worth checking out.
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Launched towards the end of 2013, Dogecoin (DOGE) is a crypto asset that was the first of its kind – one that wasn’t taken as seriously as the rest of the market. While there are many more memecoins now, the success of DOGE came from the fact that so many people were drawn to it. It was simple, funny, inexpensive and most importantly, everyone knew its name.
Despite the fact that Dogecoin was made as a joke without any intention of really being a successful cryptocurrency, the creators still put in the effort to make it a functional asset. DOGE is an open source, peer-to-peer blockchain and at the moment there are more than 4 million Dogecoin holders – so it has certainly come far from its humble beginnings. You can even use DOGE to pay for things now, making it a functional currency as well as an investment opportunity.
In fact, just looking at the change in value should give you an idea of how much success DOGE has seen in the last 9 years. While it’s currently only valued at £0.054, this is far higher than where it began. Even 5 years ago it was only at around £0.0002 – which is a significant increase. Considering that, it’s not too hard to see why so many people are keen to invest in the memecoin.
Considering the growth that DOGE has seen over the last 5 years, there are many people who are confident in the future of this cryptocurrency.
While you may get a different opinion depending on where you look, there are many predictions that are positive. From our research, we’ve gathered that many people are expecting a dip in value for a few years before rising back up and going higher than it is now. It seems that the value is expected to be lower by 2023, but that it’ll start increasing from 2024 onwards. However, this is all just speculation.
From one source, we see an expected value of around £0.25. On the other hand, another expert’s analysis has led them to believe that the value could steadily increase and end up at around £0.80 by 2025. There is certainly the chance that Dogecoin will keep at a good pace and reach £0.80 in a few year’s time, which could be worth keeping in mind.
Of course, it is important to consider that these are just estimates. There’s no way to know for sure what the future will be for Dogecoin – but those who had faith in the currency have been rewarded so far. When it comes to your investments, it’s crucial to ensure that you’re making a decision that you feel confident in, so take your time to do proper research before jumping into anything.
Looking into estimates from experts in the world of cryptocurrency, as well as seasoned investors, most seem to be confident in the future of DOGE. The value may drop from time to time, or it may even go down for quite a while until it starts to pick up again. But as a whole, it seems that Dogecoin will be a rewarding asset in the long run – and that’s one of the most important things to keep in mind.
Whether they’re estimating growth in the near future or for 10 years, most price forecasts see profit in this cryptocurrency. And for anybody looking to make a good investment, this is something that you can’t ignore.
A good way to see the potential is to consider how the price has changed over the years. Those who purchased 100,000 Dogecoin 5 years ago would only have spent around £20 altogether. Today, 10,000 DOGE is worth £5,400 – which is quite a significant increase. With that in mind, investing in Dogecoin seems to be promising.
So far, at its best, DOGE has reached as high as £0.63. And at its lowest, it’s sunk down to £0.00008. On the bright side, it hasn’t dropped this far down in a long time and it’s been stable for quite a significant period.
Due to the success that this asset has seen, there have been many currencies that have tried to replicate DOGE’s formula. While a few have come close and are still going fairly strong even today, many have failed in trying to take Dogecoin’s crown.
The most notable challenger to the throne is Shiba Inu, but even then, this memecoin still isn’t at the same level as Dogecoin. SHIB has even been called the Dogecoin killer by some, but so far the original is still the best. So, for anybody who’s fascinated by the concept of these more light-hearted assets, DOGE could be worth it. Whether you consider its current value, its consistency, or its potential for the future, Dogecoin is simply the best of its kind.
There are even more factors that work in DOGE’s favour too. For one, Elon Musk is a big supporter of this cryptocurrency in particular. Dogecoin is even accepted as payment for Tesla merchandise and soon enough, the same will be said for SpaceX too.
There’s a lot that Dogecoin may have to offer. All that being said, you might be wondering what the future holds for DOGE and if it’ll be worth investing in this digital currency. While many people do have high hopes for Dogecoin, it’s important to consider the facts. It has been around for nearly 10 years, has a large community of supporter and its one of the most well-known cryptocurrencies. It has seen fairly consistent growth over the years, too.
All in all, many people consider DOGE to be well worth the investment and with it’s interesting history, it’s not hard to see why.
This digital coin has seen a drastic increase over the last 9 years and while it’s had some downtime here and there, it’s proven to be a fairly reliable asset – which is surprising considering the fact that it was made as a joke.