Overview
Dogecoin is a cryptocurrency based on the popular "Doge" Internet meme and features the Shiba Inu in its logo. Dogecoin is a fork of Litecoin. Introduced on December 6, 2013www.dogecoin.com Block Explorer
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Elon Musk’s SpaceX will take Dogecoin to moon
-Elon Musk’s SpaceX company announced a lunar mission called the DOGE-1 Mission, funded entirely in dogecoin cryptocurrency.
-Dogecoin became the unit of account for the lunar business according to GEC CEO Samuel Reid.
-The DOGE-1 Moon Mission was initially scheduled for march 2023, but mau have changed.
-This was the first space mission funded in crypto, causing a significant increase in the value of dogecoin.
-The announcement was initailly thought to be a joke by Elon Musk.
On the other hand, the DOGE community is hoping that Twitter will eventually start accepting crypto-based payments over the next few months. Not only that, but Musk had already hinted subtly on Twitter about plans to roll out DOGE payments.
Recent rumours also suggested that Twitter would include a wallet that allows for bitcoin deposits and withdrawals. The NFT Tweet Tiles functionality is reportedly being developed by the microblogging platform.
According to Santiment, derivatives trading continues to grow, with around $4.47 million liquidated in the past 24 hours. Hence, by the end of 2023, the dogecoin price could hit a possible high of $0.158. That said, a possible crisis in the business could dump the price to $0.079.
Will dogecoin go up in 2023?The most recent crypto price oracles indicate that Dogecoin has increased by over 18% over the last 14 days to trade at roughly $0.084497. The ninth-largest digital asset is proud of its $526,969,058 in 24-hour trading volume and a market capitalization of roughly $11,649,383,387. According to Coinmarketcap, total liquidation for memcoin was around $1.61 M on last day. Dogecoin has roughly 5,173,869 owners and a total hash rate of about 630.95 (TH/s), according to on-chain data from Tokenview.
Nevertheless, the cryptocurrency’s market cap has recently surpassed that of Nasdaq-listed cryptocurrency exchange Coinbase. After Dogecoin’s (DOGE) price hit $0.08, crypto traders and investors have been attempting to anticipate what the future holds for the dog-themed meme coin this year. Analyst Cantering Clark and expert coinpedia’s dogecoin price prediction is it may reach a maximum of $0.158 by the end of 2023. Successively, the average price of dogecoin could settle at $0.118.
Final Thoughts
If the Doge developers team come out with new exciting features (like recently SHIB announced shibarium upgrade) and actual use cases. The meme dog coin might hold its own against market titans. In such a cases, Doge price forecasts may increase to their top highest value of $0.265 as of 2024. Dogecoin implementation within Twitter will further increase the prices of the coin.