Today, if you ask an average young person whether they want
gold or Bitcoin, they would most likely prefer Bitcoin. Bitcoin and other crypto currencies are now seen as a good
store of value, especially with impending inflations, they generally seem to have largely not been affected by the
pandemic. Dogecoin is also a cryptocurrency with a lot of prospects
for some people. Dogecoin may seem like a new cryptocurrency, but that's not
true if you want to learn more about Dogecoin. Check out some of our previous videos on this channel. But as a brief refresher, Dogecoin was introduced in 2013
as a parody coin. But as some memes tend to do, it stuck around for longer
than people expected. And it looks like Dogecoin is here to stay. You may be new to the crypto world and find a lot of things
confusing. You may have been around for a while and know what you're
doing, but naturally you still need to stay in the loop to better make financial decisions. That's why we're here. Crypto Fox is your go to place for news predictions and
everything happening in the cryptocurrency space.
So be sure to stick around by subscribing to our YouTube
channel and please turn on your post notifications so you can watch videos fresh out of the oven. If you've seen our previous videos, you'll know a lot of
people have been talking about how Elon Musk's tweets have been sending dogecoin soaring as tweets have powerful
influence, whether intentional or not. On the 8th of February, the price of Dogecoin hit a new all
time high at around eight cents. And everybody was quick to point fingers at Musks
coinciding tweet about the coin. Business Insider Dotcom reported that in a series of
exchanges on Twitter, celebrities from Musk to Snoop Dogg to Gene Simmons have been plugging the popular meme based
Tolkan. They reported that a day before the new all time high was
recorded, the Tesla chief executive fired off a tweet to his forty six million followers, promoting a one minute video
on Dogecoin breaking records with a brief caption.
Obviously, Musk is keen about promoting dogecoin. And this means it is very possible for the coin to reach
one dollar soon. KISS singer Gene Simmons dubbed himself God of Dogecoin on
Twitter, and pop music singer Kevin Jonas also got on the bandwagon with a tweet about the token. But they're definitely not as influential as Musk. Dogecoin spy continues a string of recent moves higher. And this can be traced to Musks tweets. This is not the first time he's doing something like that. Some weeks ago, he sent shares of a little known gold stock
higher after praising the techno hit Sandstorm by the Rude. Likewise, a similar thing was done when he previously sent
shares of Etsy surging after tweeting.
I kind of love Etsy. Musk had tweeted at a time that he bought some dogecoin for
his baby, little X, so that he can be a toddler, hodler using the cryptocurrency slang, which means holding on to
the coin for a long time. And as if that wasn't enough, Musk had been quoted saying
interesting things about Dogecoin on an audio only social media app called Clubhouse. He said that arguably the most entertaining outcome, the
most ironic outcome would be that Dogecoin becomes the currency of Earth. Could all this be an indication of the coin possibly
reaching one dollar in value sooner rather than later, whether or not Elon Musk's influence is intentional? Well, according to Coin Pedia Dotcom, which reports that
Dogecoin is still bullish from the start of twenty twenty one and also referencing the new all time high at around
eight cents, they believe that Dogecoin may compete very well with other cryptocurrency, is going forth in twenty
twenty one and may even be able to climb up in the ranking.
Also, Coin Pedia thinks that by the end of twenty twenty
one we may have dogecoin hit one dollar. That is very optimistic. They even continue to predict the price for twenty twenty
two, stating that dogecoin may start the trade at around a dollar and a half in twenty twenty two. And if it manages to get the attention of a lot of
marketers it could go up to five dollars or even ten dollars if more well-known influencers begin to buy into the dream. Also worthy of mention as a prediction by six a.m. in twenty twenty, Zakarya is a well steam blogger and
crypto enthusiast and he predicted that within five years Dogecoin would be worth one dollar. He also said that ten dollars is also possible within the
same time frame as well. There are more people who share in the dream of one dollar. Even by the end of twenty twenty one European business
review, Dotcom released a statement that Dogecoin is expected to stay strong and head towards its first one
dollar mark towards the end of the year.
This is thanks to its ever growing community of previous
all time high price for Dogecoin was one point eight cents, which it reached in January of twenty eighteen. That's an increase of nearly one thousand four hundred
forty two percent since its beginning in 2013. This was used as a basis to indicate that it's quite
possible for Dogecoin to replicate this kind of movement and hit the one dollar mark soon, given its growing user base
popularity on the Internet and worldwide adoption, according to the statement by the European Business Review Dotcom. If Dogecoin does not hit the one dollar target by twenty
twenty one, then it should do so by mid twenty twenty two.
They also warned that such predictions are only plausible in
an ideal trading environment and that with cryptocurrency suffering from regulatory news all the time, you should
expect impediments in the growth projection. This growth has been more than a surprise for one of the
founders of Dogecoin, Billy Markese, and he was even more dazzled when he found out that people on Reddit, Twitter
and other celebrities are trying to push the cryptocurrency to one dollar. Yahoo! Finance reported that he said he's have detached and finds
it weird that something he made in a few hours is now part of Internet culture. Marcus left the project back in 2015.
He said it's amusing to see Elon Musk talk about Dogecoin
and that it feels silly, but there's this huge upwelling behind it. Yahoo! Finance reiterated that the Tesla CEO has been perhaps the
biggest driving force behind the recent surge in Dogecoin price. With his frequent tweets, Marcus noted that the
dogecoin at one dollar would take its market capitalization above that of actual companies that provide services to
millions like Boeing, Starbucks, American Express and his former employer, IBM. Does Dogecoin deserve to hit one dollar? Marcus said. That is not something he can comprehend, let
alone answer. Nevertheless, Marcus noted the good causes that the
Dogecoin community has served over the years, including helping build water wells in Africa and helping connect
service dogs to kids, and silly and amusing causes such as helping send the Jamaican bobsled team to the Olympics or
sponsoring a NASCAR driver. One medium user with the username. It's all risky listed some reasons why he thinks Dogecoin
can reach one dollar, and one of them was that he thinks Dogecoin has utility in the digital future.
Maybe he shares the dream with Elon Musk, who once said
that Dogecoin could be the currency of the future. Well, this user has a good explanation why he thinks
Dogecoin could be even more useful than Bitcoin. He made an analogy that if he owns Bitcoin, you wouldn't
want to use it as a currency. It makes more sense to keep it as a store of value as its
scarcity gives it worth. But he would be willing to part with some dogecoin if
Bitcoin is Gold 2.0 than Dogecoin is the US Dollar 2.0. There's plenty of dogecoin to go around, so it'll be easier
to spend one dogecoin than some fraction of a Bitcoin. And we think that's a good analogy. So if you're a Dogecoin investor or you plan to invest in
Dogecoin, keep your hopes up and maybe soon those will hit one dollar. It's important to do your own research very
well before investing or trading cryptocurrency, just generally because they are highly volatile.
So invest with money that you can afford to lose. Let's quickly take a peek at how well Dogecoin is doing
today. This is the four hours Dogecoin US Teather chart. This shows how well Dogecoin is doing against the dollar. Recently, the price is currently enclosed in a triangle and
a breakout is expected as it nears the very end of the triangle. The current price is around five cents and with
this prediction, the breakout is expected to be in the bullish direction. The first milestone is set in around six
point six cents, and that will be around a thirty one percent increase. That's where the prediction advises
traders to set their first take profit. All right, so that's it for today's video, but as we
mentioned, we upload new videos every day.
We're committed to keeping you up to date on the crypto
world so that you can hopefully make better investments. If there's something you would like us to answer or a topic
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