Will dogecoin eventually explode in value like bitcoin did?
Dogecoin will never hit a price like Bitcoin for some very serious reasons:
- Bitcoin was the first and will likely remain the market leader forever.
- Dogecoin is a coin created for fun - memecoin, so no one in the mainstream will treat it as a full-fledged currency.
- The number of Dogecoins created is so huge that the entire marketcap would have to be hundreds of times larger than the Bitcoin marketcap to reach a price of at least $1k