Is Dogecoin worth buying?

Jennifer Joseph · July 13, 2020

Dogecoin is the most loved cryptocurrency today. It was named after the famous meme of the Shiba Inu dog that has attracted the attention of the blockchain community. It started as a simple joke, but the coin took an important place in the crypto sphere thanking its fans and charity activity. Today we will know about DOGE’s features, the coin’s future and Dogecoin Price for 2020.

What is Dogecoin?

Dogecoin was formed by using the codebase of Litecoin and its development was designed at providing an alternative to Bitcoin. It should’ve been a more accessible and friendly cryptocurrency.

Its most noticeable feature, however, is its mascot. The developers of Dogecoin chose a “fun” way towards its development.

The image of the crypto helped the coin to get attention in various social media. The coin turned famous even outside of the community of blockchain technology lovers.

Facts about Dogecoin

• Dogecoin was founded by a programmer in Portland named Billy Markus.

• Dogecoin became third of the most valuable Altcoin having a market cap equivalent to 53 million USD, immediately after it was released globally.

• Dogecoins are mostly used by college students and gamers. The currency is utilized by these people to send money to their buddies or use it to play games.

• This currency faced a lot of defeat, even though it was a success.

• It was once in 2013, coins amounting to millions were used during an attempt of hacking.

Dogecoin Price Analysis

The year 2018 was tough and bearish for DOGE. Similarly to the other market, Dogecoin’s price was decreased by the loss of the public’s attention.

Google users found the coin very useful in January 2018. A couple of less important peaks happened in July and December. At the beginning of 2019, the popularity was around the same level as it was in the same period of 2018, which is a major achievement in terms of the industry crisis, happening today.

Dogecoin Price Prediction 2020

Dogecoin is likely to lift up, as people are knowing it’s worth and they are getting over it being a bare crypto joke. Additionally, the coin might reach the $0.02 mark, where the topmost expected price is $0.0294 and the least expected price will be $0.0224.
Dogecoin is likely to touch a $0.04 mark. In short, It might reach $ 0.05 if it doesn’t come across any barriers.
According to few crypto experts prediction if one invests $1000 on DOGE today, then, in 24 hours, the pricing of his investment can be $987, in 7 days, it can be around $994, in 1 month, it can be approx. $777 and in 3 months it can be around $650.

Dogecoin Market Prediction

Dogecoin will reach $0.0032 by 2020-says CryptoGround.
According to WalletInvestor.com, Dogecoin will cost $0.00376 by 2020.
DigitalCoin Price says dogecoin coin price will reach $0.00552 by the end of 2020.

Conclusion

Analysts say, the coin may come across many price variations, but the coin will not be affected by the major term. Hence, investing in Dogecoin is not too risky and is worth investment.