Hello and welcome back to Crypto Lion subscribe and turn on post notifications so that you don't miss out on any of our videos.. Also don't forget to like this one.. Today we'll, be discussing the current price of Dogecoin Dogecoin predictions and taking a look at the differences between Dogecoin and Bitcoin, as well as why some have decided to invest in dogecoin rather than Bitcoin on a daily basis.
People. Think about the best thing to invest in., Sometimes they don't really care about what type of business it is. All they care about is how fast it yields. Returns. Dogecoin is becoming one of the biggest investments around.
A Forbes reporter asked Mark Cuban about Dogecoin and whether it's, a bad look for crypto. When people buy it., He replied by saying no, it's, not a bad look.. Dogecoin is less than a dime.. He continued by saying that one can buy one dollar's worth or ten dollars worth and have fun watching it all day every day.
. He also says it's, the best entertainment bang for your buck. Available. He said he bought a few dollars worth for his son and discussed all the price movements as well as why they occur. It's, fun, exciting and educational for him, and some of his friends have gotten into it.
As well. Cohen Mark AdCom quotes Elon Musk on why he thinks Dogecoin is better than Bitcoin as Stosh broke into the top 10. Explain. That. Musk now talks about Dogecoin technical viability in a more serious tone.
In a recent tweet. He was reported to have taken a shot at bitcoins, presumably deflationary monetary policy, to make a case for the Cheeba inspired currency.. Those appears to be inflationary, but is not meaningfully so, whereas Bitcoin is arguably deflationary to a fault.
. He also notes that Dogecoin is a few orders of magnitude faster than the big daddy of cryptocurrency.. An article on Lifehacker in January explains that, with the help of Reddit and Elon Musk Dogecoin has increased in value by about 600 percent.
. The cryptocurrency business is volatile, which also makes it attract so many investors. And the recent speculative investment of dogecoin has been fueled by these Satoshi Street bets Reddit Tick-Tock and the tweets of Elon Musk and others.
Jehanne Schuh, co-founder and managing partner at Kinetic Capital in Hong Kong said that Dogecoin is the ultimate members club. Owning the coin is a secret hand signal that you're part of the tribe and in on a five billion dollar.
He says. Chris Marzel co-founder and CEO of Crypto Dotcom. A trading platform says they added Doege to their platform. On January 29th, due to high demand. Dogecoin, boasted a market value of nearly 10 and a half billion up one hundred and seven percent over seven days.
According to current market cap Dotcom, which provides data on digital assets. According to Mark to Canberra of MarketWatch Dotcom, a single dogecoin was valued at eight point, one cents up around 30 percent recently.
Back in late January. It was changing hands at less than a penny.. People. Have had the opportunity in opening their capitals to new investments in digital currency, since Bitcoin was released in two thousand nine.
. Since then, there have been thousands of digital currencies that work in a way similar to Bitcoin. Bitcoin, opened doors to other digital currencies, which has given people a wide range of opportunities and choice in which digital currency they want to invest.
In.. Most of these digital currencies have managed to establish themselves as useful in some way, either as investments or for some other use, such as fueling smart contract platforms, like Ethereum. Dogecoin, has been approved by many retailers worldwide.
As a payment form, it can be used to purchase numerous goods such as home supplies, food and even Domain's using their native Tolkan.. It came as a development strategy to break and abolish the discrimination around crypto currencies which, at the time of Dogecoin creation, was somewhat negative.
. Dogecoin came into existence in 2013, but is arguably one of the most traded cryptocurrency around the world. Now., It's, expected to stay strong and head towards its first one towards the end of twenty twenty one.
. This is thanks to its ever growing community. Commodity dotcom compared dogecoin to Bitcoin, and agree that the main thing that separates Dogecoin from other crypto currencies is that it's inflationary rather than deflationary.
. This means that there's, no limit to the number of coins in circulation., Bitcoin and other cryptocurrency is, on the other hand, are designed with a hard supply cap of coins.. The potential problem is that, once the cap is reached, it may no longer be profitable for miners to continue to sustain the system.
. This would either lead to unacceptably high fees in order to encourage miners or very long transaction times, as there would be no incentive to process network transactions.. But Dogecoin coins creator sought to solve this problem by ensuring that miners would always be rewarded with new dogecoin.
, And so there would always be an incentive to mine. More coins. And inflationary based approach was also designed to replace lost coins and keep dogecoin at around a stable hundred billion coins.. It should be noted that cryptocurrency suffer frequent volatility, which eventually alter predictions.
There are other factors that can affect predictions, and one of those factors is the ever looming threat of government regulations.. These and more have made prediction of the dogecoin price, a very difficult task.
, But this is not discourage those who have belief in it and are taking risks and are going against all odds with the expectation of high reward at the end of the day.. The current market cap of Dogecoin at the time of recording, is around USD seven point.
One billion dollars with one hundred and twenty eight billion dollars in circulation.. The twenty four hour price movement chart indicates that about four and a half billion dollars worth of doge were trading.
. There have been various predictions which have drawn people's; attention to Dogecoin. Some have gone as high as predicting that in the nearest future. One dogecoin can be equal to the cost of a motor vehicle.
Change shows the twenty eighteen was a tough and bearish year for Dosch. Similarly, to the rest of the market and dogecoin price was lower due to the loss of public attention. Dogecoin wasn't a downtrend for all of twenty eighteen, despite the several times that the price was going up for a short period of time.
. Today, the long term forecasts of dogecoin is very bright.. The price spikes after the downtrend show that doges recovering faster than Bitcoin.. The most interesting part is that Dogecoin is also used as an alternative to the official fiat currencies of countries that are financially struggling.
Like Pakistan, Bangladesh, Nigeria and the Philippines., These countries have been able to use it as an alternative to the official fiat currencies for monetary exchange between regular people.. Let's.
Take a look at the Dogecoin US dollar chart.. This is the daily Doege USD chart, and here you can see how well the Doge is doing against the US dollar on the chart. We can see that Dogecoin is currently trading at around five cents.
. The price seems to be recovering from a downward trend that just lasted a few days. Prior to this fall., We can see on the chart how the price has increased in some couple of days up to the all time high, which is just slightly below nine cents.
. The price was just trading at around half a cent in January before it started on a long bull run. As you can see on the chart from late January well into February.. Many factors may have been responsible for this bull run, considering the growing popularity of Dogecoin recently.
. This prediction sees the price rising to 10 cents in the next few days., And it looks very possible that Dogecoin will hit 10 cents very soon. Considering the volatility of the coin., All crypto currencies are quite volatile and should be treated with caution.
So we advise on this channel that you do your own research before investing or assuming a position in the market.. We hope you like this video. And if you did please give it a thumbs. Up. Subscribe and click on that notification belt, so you can get updates whenever you post a new video.
. Let us know what you think about this prediction in the comments section below. And how far do you think Dogecoin can go while you're here, Go ahead and click on all of the videos on your screen. Good luck and happy investing.
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