Will Dogecoin Reach $1? The dip in Dogecoin – Is it worth it? | Dogecoin Millionaire

there's a saying that goes the stock market is for circulating money from the inpatient to the patient currently dogecoin investors are indeed quite anxious due to the dramatic fluctuations in the price however that doesn't mean you should dump everything you own well who knows dogecoin might even hit one dollar in the near future hi welcome to crypto doge news where we publish the most up-to-date cryptocurrency news every single day make sure you hit the like button and subscribe to the channel if you haven't already and ring the notification bell so that you get notified every time we upload a new video now let's get right into it dogecoin was created back in 2013 purely as a joke to reference the internet's favorite shiba inu dog meme however its price hike of 23 000 in the last year to an all-time high of 73 cents making it the fourth most valuable cryptocurrency by market capitalization is no laughing matter and mark cuban the dallas mavericks owner and billionaire investor who has promoted dogecoin to his 8.3 million twitter followers thinks doge is headed straight for one dollar once it gets there he thinks it will stay there i kind of think that it might level off at one dollar and become somewhat like a stable coin where you can use it you can save it it's going to stay pegged now for a while it will go down to 60 to 70 to 80 cents but over the long haul i think it might peg itself at one dollar that's my guess but it's only a guess cuban says cuban bases his predictions on the fact that he thinks dogecoin is easier to transact in so it could behave more like a currency than bitcoin does and the fact that although the eventual supply of doge is not capped like btc is the amount created per year is fixed at 5.2 billion coins i didn't even realize this at the beginning when i first started talking about it that there's a limit of 5.2 billion dogecoins being minted every year cuban says and given the number of billions that are already out there that's effectively a declining inflation rate right there's a limit there's a limit to the amount of inflation for dogecoin and that's a positive it's almost a digital equivalent whether we like it or not of fiat because you can own it you know the exact inflation rate which is declining and it's only 5.2 billion units a year well indeed however those who believe dogecoin will never hit one dollar per coin argue that the same large number of tokens in circulation will cause the value of dogecoin to depreciate over time many of the critics forget the world's second popular cryptocurrency ethereum also had an unlimited supply however no one attacks ethereum for having an endless supply because many people already invested in the coin we must also keep in mind that not all bitcoin is in circulation there will be a total of 21 million bitcoin so far only 18 million bitcoin has been mined therefore if people stop buying bitcoin today bitcoin will automatically lose value over time until all the bitcoins are mined this crypto also has inherent inflation working in a certain industry does not imply that you know everything about it someone claiming to be an industry veteran does not always imply that he can properly forecast the future of the business for instance when spacex announced that they would make reusable rockets every rocket scientist said that it can't be done it is impossible for an orbital-class rocket to land intact on earth however spacex proved everyone wrong when spacex announced that they would carry humans to the internal space station iss almost everyone including the ill armstrong opposed this idea they argued that a private company could not safely ferry humans to and from the iss to maximize profit spacex would disregard human safety however spacex proved everyone wrong once again you might be wondering why we're bringing this up it has nothing to do with dogecoin but unfortunately there is a correlation those who are following cryptocurrency since 2009 consider themselves crypto veterans we have met many some of them are immensely arrogant according to them dogecoin is the worst cryptocurrency on earth and it has no future they say dogecoin is nothing but a pump and dump coin it is just a second-tier cryptocurrency they say that this coin is no case except for online tipping no one accepts it so dogecoin will vanish so basically they believe dogecoin will never hit one dollar however we disagree with them first off dogecoin is more functional than bitcoin as bitcoin has a limited supply and its price is increasing steadily people are currently buying and holding on to this coin for profit moreover over the years we have also discovered that bitcoin is not the best crypto for online retail transactions the transaction fee and time are both high compared to dogecoin so the price of bitcoin will continue to rise until the drawbacks outweigh the benefits of this coin why because dogecoin is fast and has a cheaper transaction fee than bitcoin making it far more useful for retail transactions dogecoin is being accepted by more and more companies every day and as time goes on and more people learn about this coin acceptance will rise even more dogecoin was created as a joke and it doesn't imply that it has no utility or no one values it as legitimate crypto currently it is struggling due to market volatility however investors are waiting for a catalyst one such possible bullish catalyst could be bitcoin which has found resistance at the 34 000 area this is a signal that the coin is still finding buyers since it has struggled to move below the 30 000 support level why it matters well that's because some analysts believe that it is a bullish move for bitcoin and other digital coins like dogecoin and ethereum even if it's not the next catalyst for the dogecoin price could be a system upgrade last week crypto youtuber matt wallace said that a dogecoin upgrade is on the way paving the way for doge to become one of the most widely used currencies on the globe tesla ceo elon musk also expressed optimism about the future of dogecoin which following a protocol upgrade could be able to outperform ethereum and bitcoin according to elon musk bitcoin and ethereum are pursuing a multi-layer transaction system but the base layer transaction rate is slow and transaction cost is high there is merit in my opinion to doge maximizing base layer transaction rate and minimizing transaction costs with exchanges acting as the de facto secondary layer well indeed not only are bitcoin and ethereum the most popular cryptocurrencies but they are also the slowest bitcoin for example can take anywhere from one minute to 60 minutes or even a day or two to get confirmed that is a pretty long time for the largest cryptocurrency in the world and now it appears that dogecoin might even have beaten it in this regard one of the proposed upgrades of dogecoin will see the dogecoin network reduce the fees and make it more affordable to users the other one will add some features to remove bugs that open the chain to vulnerabilities historically cryptocurrencies such as dogecoin have seen a price increase before such significant upgrade and if that happens one dollar will be achievable within a decade however dogecoin is also other unique factors that have significantly helped its growth these include the online community and support from celebrities if these two parties are consistent with their support for the rest of the year dogecoin might hit one dollar or sooner than we expect just recently dogecoin is also other unique factors that have significantly helped in its growth these include the active online community and support from celebrities if these two parties are consistent with their support for the rest of the year dogecoin might hit one dollar sooner than we expected just recently brokerage firm etoro announced that it would be adding dogecoin to its listings due to growing demands from users with over 20 million users around the world etoro support for dogecoin might inadvertently help it reach one dollar soon enough furthermore some experts anticipate that the coin will be worth more than one dollar by the end of the year for instance carol alexander a finance professor at the university of sussex believes dogecoin will keep rising largely due to the active online community and support from public figures well that is something we cannot deny dogecoin does have a massive following and with such large support dogecoin could possibly reach one dollar or even 10 in the near future so what are your thoughts on dogecoin can coins really be replicated into money-making machines or will they end up like bottle rockets that fly quickly and then burn out quietly share your answers in the comment section below until next time stay tuned and subscribe to our channel for all new updates coming soon [Music] you

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