Will Dogecoin Price Continue to Rise?
Dogecoin is a digital asset that was launched in 2014 as a not-for-profit foundation. Recently, its price is trading around $0.08207, with a market capitalization of over $10.9 billion and a circulating supply of 132.6 billion DOGE. Over the last 7 days, Dogecoin has seen a drop of 5.06% in its price, while over the last month, it has seen a fall of 5.19%. The coin was inspired by an internet dog meme, and its success can be attributed to Elon Musk, who mentioned the coin on Twitter in 2021. Dogecoin can be mined using a normal computer or laptop, and its maximum supply is not capped. The coin’s all-time high was achieved during the second quarter of 2021, trading at around $0.7386. For 2023, the coin is predicted to range between $0.092 to $0.10. As the coin is heavily influenced by social media frenzy, investors should be cautious when investing and consider alternatives that have more potential upsides.