Watch the video below to get all of the details about will Dogecoin hit $1, including why I think it’s likely going to happen. Enjoy!
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One of the most popular and talked about cryptocurrencies out there is dos coin. Personally. I’ve been following it since August of 2020. When I started seeing memes of this little cute dog pop up and people always talking about it, going to the moon. Now, since that time, it has been one of the most volatile and popular cryptocurrencies and has increased in price nearly 8000%. Now over the course of that time, it has risen in value. It’s been all over the news and it’s also crashed back down to earth, sort of. So today I wanted to share with you can doge coin hit $1. The answer might surprise you. You’re not going to want to miss this.
So you heard, right? The question is can doge coin reach $1 at the time of making this video it’s currently right around 25 cents. So that means it has a long way to go where it has to increase by over 400% in value. Of course we are talking possibilities, potential and reality. So before we dive in, if you haven’t already make sure to give this video a like, and hit that little thumbs up button, it really helps spread the word of cryptocurrency. And I really appreciate it. So thanks. So on this channel, I’ve made videos on my top five cryptocurrencies, along with the old men of the crypto world Bitcoin versus Ethereum, but let’s address what is doge coin today to give us all a little history lesson and understanding of what coin we are really talking about here. If you haven’t heard this story before a couple of software engineers created this coin as a joke, it was based off a internet meme and it wasn’t supposed to be anything more than a joke, but over the past year or so, dos coin is no longer a joke.
And it is truly one of the most popular cryptocurrencies out there. In fact, not too long ago, Mr. Shark tank himself, owner of the Dallas Mavericks, they announced that they actually be accepting doge coin as a form of currency within the stadium for tickets and merchandise. And of course, Elon Musk has been tweeting about it nonstop. In fact, he even mentioned it. I’ll get into this later on his SNL and appearance. So as we dive deeper into whether or not those coin can hit that $1 mark let’s actually address how many dos are out there. As of this recording, there are just over 129 billion doge coin in circulation that puts it in the top 10 for circulation of all cryptocurrencies. You see the way this platform was set up 10,000 new doge coin are released every single minute. That means that over 5 billion, new doge coins are released into the market every single year.
Now, of course, some argue with so many things, those coins out on the market, that it’s going to be less and less valuable, right? But I’d rather address will the price go up and I’m going to argue, yeah, a few reasons why I think it might. The first one is compared to something like Bitcoin Doshi is much more environmentally stable. It takes less electricity to mine. And for a lot of people who maybe are a little bit younger or more environmentally conscious, it might be more preferable to them to hold a coin like doge, as opposed to one like Bitcoin, because it uses less electricity, less power, and it’s better for the environment. Another reason why the price might go up is dos has a very loyal community. If you type in doge coin on Reddit or YouTube, you are just going to find a ton of loyal followers, supporters, and enthusiasts.
And therefore with people having that amount of passion towards one specific coin, they are actively working and advocating for making it a more widespread and more sustainable longterm. And speaking of long-term adoption, a dose has a lower transaction fees than some other cryptocurrencies. So if it’s cheaper and faster to use that mass adoption might happen a little bit quicker. The more institutional investors realize that this is something that everyone can use and everyone can have access to. And another reason why is just public influence specifically from people like Elon Musk and other celebrities. It wasn’t too long ago when Elon Musk said that he would buy the majority of the whale crypto wallets. It’s something like over 25% because he wants to make doge coin the currency of the internet. So love him or hate him. He has an influence and a power to influence other people specifically with cryptocurrencies and technological advances.
So if he is willing to get behind it and people like and support him, then you could see the price go up. If let’s say Tesla announces that you can buy a new car using a doge coin. So let’s address the title of this video. Can doge coin hit $1? Well, not too long ago, Elon Musk hosted an episode of Saturday night live and there was speculation and build up that maybe he was going to mention those on his episode and the price of those just kept going up, up, up up. And many people thought it might hit $1. Now on the night of that episode, those coins peaked at an all-time high, a current high of just under 75 cents. However, during the episode itself and hours later, it crashed over 30%. Since that time it’s also been down even more. So anybody who bought, you know, above that 30 to 35 cent range, they have been down four months.
However, going back to, when I first heard about anybody who bought it, you bought a year ago or six months ago, they are still massively up. Therefore I think that it will be very likely for dojo to hit $1 or at least get very close before years end. But if you are holding those coin, be prepared for people to be selling and getting out right around that 78, 80 8 cent range, just thinking or anticipating that everybody’s going to sell. If, and when it hits a dollar, you see it’s always a good idea to lock in some gains. So let’s just say you had it when it was 2 cents, 5 cents, 10 cents, and now you’ve 10 extra money. Well, it’s a very good idea, right around that 80, 85 cent mark to, to, to sell like half of it lock in those gains. However, some people want to see it go to the moon or there’ll never sell.
They’re just going to hold on forever. So I anticipate when it, if it hits $1 that it will come crashing back down before it finds a new price to stabilize. So what do you think, let me know down in the comments, if you think doge coin is a good investment, it is a streamline popular right now, but in a lot of ways, it’s still the underdog. No pun intended as always, if you have some fun money and you wanted to throw it in there and hold it long-term, you can keep your eye on as it starts to climb again, sometime in the future. But I would never put all of your life savings or, or yellow the house, just to hopefully see this coin, go to the moon, a couple of key takeaways. I kind of say this in all my crypto videos this, this market, this it’s very volatile.
You gotta be able to ride the ups and the downs. If you have some money that you can invest, one of the easiest or best things to do is just a buy a little bit every single week or month, whatever, whatever schedule you want to set up for yourself, you need to pick your favorite coins, but don’t fall in love with them. If they start to go up and you’ve 10, an extra money, it’s a good idea to lock in some gains and then just see where the rest of that amount can go. Personally, I’ve got a couple of buddies that I do some investing with, and we always talk about doge coin. One of them doesn’t have it. One of them, I got a little bit at like 7 cents and sold when it got to 21. And I think I bought some at like 12, you know, a few hundred dollars worth.
So I’m going to just hang on to it and see if it goes up. Maybe I’ll make a few hundred or a few thousand, but really it’s just for fun. And to be able to make content on this channel. So if you are interested in cryptocurrencies, I’ll leave a link down below to a few of my favorite exchanges where you can buy some. I think if you’re new, they throw you like a few dollars in Bitcoin for free when you make a deposit. So check that out. Also, if you’re new to the channel, don’t forget to hit subscribe and ring that notification bell. All right. As always I’m rich. And until next time.