Dogecoin Could End 2021 Above $0.40

Dogecoin could end this year above $0.40 according to a Dogecoin price prediction report released by Finder. Despite this price increase that the virtual currency could experience, most of the analysts consider that DOGE is a bubble. This is different to what Elon Musk believes, as he stated that the DOGE community is the strongest when it comes to using it as a means of payment. 

Dogecoin Could Move Higher

According to some of the panellists at Finder, Doge could eventually collapse at the end of this year, even if it makes it above $0.40. These are just predictions, and nothing is already confirmed. Things can change very fast in the crypto market. 

It is worth mentioning that Dogecoin has surpassed $0.60 in 2021 for a short period of time. Over the last few weeks, DOGE has been traded close to $0.20 per coin. This also comes at a time in which Elon Musk, the CEO of Tesla, confirmed on Twitter that Dogecoin is the strongest cryptocurrency as a medium of exchange.

His comments were literally “I’ve been saying this for a while,” when answering to a Tweet of CNBC that said: Mark Cuban says dogecoin is the ‘strongest’ cryptocurrency as a medium of exchange. 

One of the main advantages of DOGE is the fast transaction times and the low fees it has. Compared to other virtual currencies, DOGE has this advantage. However, in terms of security, it falls behind other digital assets. 

It is worth mentioning that Mark Cuban’s Dallas Mavericks are now accepting Dogecoin for tickets and merchandise. This shows that the virtual currency has been growing over the last few years. 

Elon Musk has many times in the past shown support for DOGE. He even claimed to be the CEO of Dogecoin a few years ago (of course as a joke). Let’s not forget that DOGE is a meme cryptocurrency. 

According to John Hawkins, senior lecturer at the University of Canberra considers that DOGE could eventually be worth $0 by 2030. About it, he stated:

“Dogecoin seems largely dependent on Elon Musk’s erratic tweets. It is barely used as a payment instrument and has proved a very poor store of value.”

As we see, there are different views on DOGE and how this digital asset could expand in the coming months and years. Despite that, the virtual currency is now the 7th largest with a price of $0.30 and a market valuation of almost $40 billion.

Via: 2Usethebitcoin.com

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