Dogecoin cryptocurrency has gone up in price and now everyone is wondering how high Dogecoin can go. With the support of Elon Musk, the currency is expected to soar.
Cryptocurrency has been around the world since 2009 when Bitcoin was the first company to decentralize cryptocurrency. This marked the first time cryptocurrency had an impact on the economy, despite the fact that digital currencies existed in the 80s and 90s.
Since then, other forms of cryptocurrency have been made available to the public to invest in. When prices go up and down, people look for the next best investment. Dogecoin has been the talk of the town of “Hottest Cryptocurrency” lately. Please note: Because cryptocurrency prices fluctuate, the numbers shown in tweets or otherwise may differ from real-time prices.
How much can Dogecoin be?
How high can Dogecoin go?
- If Dogecoin inflation can be sustained, which is unlikely, the currency can reach a market cap of $ 135 billion.
According to Provscons, Dogecoin is expected to cross the $ 1 mark this year. If so, its market cap could potentially reach $ 135 billion. However, many do not believe that this is possible.
Dogecoin hit a record high this week after hitting above 0.50 cents. According to Forbes, the currency is up 50% in the past week, making the combined meme-based cryptocurrency tokens worth around $ 50 billion.
Dogecoin posted 18% inflation on May 4, 2021, rising from $ 0.37 to $ 0.44, leaving the currency at an all-time high. At the time of writing, the circulating supply is 129.5B DOGE. This is the amount that is liquid and floating around.
Where does Dogecoin come from?
Dogecoin is the brainchild of software engineers Billy Markus and Jackson Palmer. It was created to forego bank fees as part of a new payment system. The face of the coin shows the “Doge Meme” from 2013, from which the currency takes its name.
The cryptocurrency was first released on December 6, 2013 and runs on Microsoft Windows, Linux, iOS and Android operating systems. It uses free and open source systems. Since its release, it has been part of fundraising at the 2014 Winter Olympics, Doge4Water and Nascar.
Dogecoin has been mentioned by big names like Elon Musk, Snoop Dogg, Mark Cuban and Gene Simmons who encouraged all fans to invest in Dogecoin cryptocurrency.
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What Elon Musk has to say about the new cryptocurrency
Tesla Motors CEO Elon Musk was one of the main boosters of the dogecoin online currency. After joking about being the CEO of Dogecoin and tweeting about the currency multiple times, stock prices seem to keep rising.
Earlier this year, Musk also said on Twitter, “Who let the doge out?” This time, Musk says that he will be using Dogecoin as the Mars cryptocurrency and that he will take “Dogecoin on the literal moon” Musk is now known to fans as the self-proclaimed “The Dogefather”. Everyone is now wondering what Musk will say next, which will cause Dogecoin to rise again.
Please note: Because cryptocurrency prices fluctuate, the numbers shown in tweets or otherwise may differ from real-time prices. You can find the exact price here.
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