Dogecoin is currently down over 70% from its original all time high of $.073. The crypto currency market has recently seen a massive sell off over the last year causing wide spread panic, crypto job lay-offs & crypto hedge fund liquidations. This level of volatility is nothing new to the crypto market & can bring forth a new opportunity for investors. For those who believe crypto currency will have real world impact long term are using this opportunity to buy more & you should too. There are more than 10,000 different crypto-currencies you can buy, the specific crypto currency we are going to discuss today is called Dogecoin. Dogecoin was launched in 2014 by Billy Markus and is currently ranked 10th in the crypto-currency market place by market cap.
Dogecoin has amassed a massive following over the years with its easy & fun approach to crypto & dog like memes. Although this coin was launched in 2014 as a joke, it might have a much brighter future ahead than expect. During the last bull market, there was a large spread movement to get Dogecoin to reach a dollar. This was unsuccessful but brought Dogecoin to its new all time high of $.73. During this time there was much less utility & price was pushed by hopes, dreams & a relentless community. Dogecoin today has since been upgraded & the community is stronger than ever. Here are 5 reason Dogecoin will reach 1$.
SpaceX is set to accept Dogecoin for merchandise soon. Its no surprise we are bringing Elon Musk into this as he is currently one of Dogecoin’s biggest supporters. Elon Musk has came out as saying in May of 2022 “ Tesla merch can be bought with Doge, soon SpaceX merch too”. SpaceX is currently sitting at around a 100B market cap & has a following of over 25 million followers across multiple social media platforms. This has yet to happen & is a fantastic catalyst to help Dogecoin reach $1.
You can currently send both Bitcoin & Ethereum as tips to creators on twitter. This service was launched by twitter in September of 21 to help creators make contributions by their followers. Both Bitcoin & Ethereum have been known to have high transaction costs & hinder people from sending tips. There are talks of twitter enabling Dogecoin tips which would allow users to send money with transactions fee’s ranging from less than a penny to one dollar. This would increase the ability for people to send their favorite content creators tips furthering Dogecoin’s ability to reach $1.
DOGE-1 Moon Mission
SpaceX, Unizen, ZenX Labs & energy tech firm Geometric Energy Corporations are planned to a launch Doge-1 moon mission at the end of 2022. Doge-1 was planned to lift off initially Q1 of 2022 but due Payload issues there were delays. Doge-1 will rideshare with SpaceX’s Falcon 9
& the missions progress has been confirmed by Sam Reid who currently sits as the CEO of GEC. This moon landing mission can potentially dramatically help Dogecoin reach $1.
Inevitable Bitcoin Price Increase
It is no surprise that Bitcoin has a huge effect on the overall market. Typically what we see is if bitcoin is going up, so are Alt Coin’s like Dogecoin, Ethereum etc. Also, if the price of Bitcoin is falling we typically see the price of alt coins fall as well. With mass adoption & the ability to buy
crypto much easier today, I believe we will see $100,000 to $500,000 Bitcoin within the next two to five years. With this said, Dogecoin will have surpassed the $1 goal by this time.
Bitcoins all time high was around $69,000. $100,000 Bitcoin will push all crypto’s to new all time highs, including Dogecoin.
Tesla Car Acceptance
One of the most highly anticipated events for Dogecoin is Tesla accepting Dogecoin for car payment. In June of 2021, Tesla began accepting Bitcoin for the purchases of vehicles which shot the price of bitcoin up around 100%. Tesla has since seized all Bitcoin payments and is currently looking for a more “ environmentally” friendly crypto to use. Elon Musk has accepted Dogecoin for Tesla merch & soon SpaceX merch as well hinting one day we could potentially see Tesla accept Dogecoin for the purchasing of vehicles.
As always, Do your own research, but in my opinion if all of these catalysts were to happen we would see Dogecoin reaching a +$1 which is a 1500%+ gain currently from its price of $.06. To the moon!