The Main Reason Dogecoin to Hit A Dollar!!
Dogecoin has gained a lot of momentum since it came out around 2014, and it’s come a long way, despite critics labeling it as a mean currency. Elon Musk is now considered to be the most influential person on the planet, at least when it comes to crypto. And to the delight of Doge, a token has gained his utmost support as the month of July has started.
The main reason Dogecoin to hit a dollar
We’re predicting that with the current state of affairs in regards to the crypto market, investors are in for a massive boost and we could see the value of Dogecoin exceed preset expectations. There are countless reasons why we expect the meme propelled coin to hit a dollar and beyond. But the main reason stems from the recent crackdown of mining operations in China.
According to reports, more than 80 percent of China’s Bitcoin mining capacity is estimated to be closed. It’s thought that between 65 to 75 percent of all global Bitcoin mining takes place in China. Though it may not be good news for Bitcoin miners in China, others could stand to benefit, especially countries such as the United States, which is expected to be where most miners will end up after this crackdown in their home.
The main issue, which is hinder the rise of crypto prices, is the fact that whenever the tokens are gaining massive traction within the market, some entities which are against the whole idea of crypto try to formulate barriers to control the rising of prices, inevitably causing them to crash, as evidenced by Bitcoin and Doge.
There are no more catalysts that can stop the price hikes
So with it out of the way and concluded, it’s safe to say that there are no more catalysts that can stop the price hikes. And this leaves Dogecoin holders in a particularly sweet spot whereby any future raises will probably reach their fullest potential. And prediction of Dogecoin price hitting a dollar or 5 dollars come into play.
It’s very possible that we might expect something during this month’s cryptocurrency conference, and support from the Father could lead us on a very exhilarating ride. Other news, such as Billy Marcus investing in Doge after an eight year absence, will probably bring a boost to the main coin.