Meme coins do not have any intrinsic value but are an essential part of the cryptocurrency landscape. What would crypto be without Elon Musk’s favorite dog-theme coin, Dogecoin?
Intended as a joke featuring a viral photograph of a Shiba Inu dog, DOGE quickly became the biggest Memecoin on the market and the tenth biggest cryptocurrency overall by market capitalization. The considerable success was only possible with the endorsement of celebrities and pioneers like Elon Musk. As a result, the coin is today almost as famous as Bitcoin (BTC) and serves the vital purpose of raising awareness for the cryptocurrency space.
Billy Markus and Jackson Palmer launched Dogecoin in December 2013 to bring some fun to the space and mock the crypto fanatic’s “too serious approach.” Today, DOGE’s biggest asset lies within its devoted community that continues to support the currency.
Interestingly, since Ethereum’s transition to Proof-of-Stake (POS), the meme coin is the second-largest Proof-of-Work (PoW) crypto after Bitcoin.
Thanks to its popularity, generations of meme-inspired cryptocurrencies have been launched to mimic the success, but only Shiba Inu (SHIB) reached similar heights.
Six years after the launch of DOGE, between January and May 2021, high-profile celebrities such as Mark Cuban, Snoop Dogg, and Elon Musk started promoting the dog-themed crypto on Twitter. As a result, its value rose by 8,600%, with a peak value of $0.7376. At the time of writing, DOGE was trading briefly below $0.06.
Even though it is challenging to predict long-term price developments, analysts can take into account historical price data and key metrics to accurately forecast general price trends for DOGE.
Analysts believe that DOGE will see only little increases during the remainder of 2022, with a median trading price of $0.08. However, as we advance to 2025, predictions become slightly more bullish, with an average price of $0.19 and a new ATH of $0.64 to be reached by 2030.
Diversification remains one of the most critical aspects of successful trading strategies, and despite Dogecoin’s positive outlook, experts advise not to bet all your funds on a single horse.
Taking a look at decentralized finance, the asset-backed project Uniglo.io stands out, with several voices in the Dogecoin community backing the project lately.
GLO, the native currency, is backed by a carefully assorted investment portfolio stored in the ‘GLO Vault.’ Every holder of GLO is exposed to the assets within the vault, consisting of digitized commodities, cryptocurrencies, and collectible NFTs. As a result, a stable currency is created. Then, in a symphony with the dual-burn mechanic, the protocol is set to appreciate with a decreasing supply.
As a general rule: a good ratio of different investments should be maintained at all times to increase the likeliness of profitable trades. With that in mind, DOGE and Uniglo.io make for a good pair in every portfolio. Especially since the latter is in its final presale phase and launching pretty soon!
>> Buy Uniglo.io Presale <<<
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