Is DOGE Coin's Rise a Sign of the Future of Cryptocurrencies, or a Fleeting Internet Meme Phenomenon?
Dogecoin isn't being talked about much anymore. At one time Dogecoin was a meme coin but due to the efforts of Elon Musk Dogecoin was pumped to a high of $0.78. Currently this Dogecoin is standing at $0.796 but it cannot be said for sure whether the price will increase in the future. However, although many people have made many predictions about this Dogecoin, I am not making any predictions about this Dogecoin.
Although Dogecoin was launched ten years ago, it is still alive in the market. Doge reached its ATH of $0.74 two years ago due to celebrity hype. But in just two years the current ATH price has gone down as much as 88 percent, dogecoin market price $0.08 today. It is only my guess that many memecoins or altcoins including Doge Coin will increase in value in the upcoming bullrun after Bitcoin Halving this year. Maybe events like Halving will pump it up a bit but I don't think he will reach his previous ATH.
If there is no good news about Dogecoin and Elon Musk doesn't try then Dogecoin is unlikely to grow. We saw that Dogecoin was the meme coin that Elon Musk effort once improved to the highest price but now the price is dumping so much that those who invested at the highest price may not be able to recover at the previous price. So if there is no good news in the market right now then I don't see a very good future for this coin if the bull season also starts in the market. But many people have good predictions about this Dogecoin, I think it's a personal matter.