In today's world, the demand and use of digital currencies/cryptocurrencies is growing rapidly.  Bitcoin is a very popular and well-known cryptocurrency, but there are other digital currencies such as Dogecoin, Litecoin, Ethereum, etc. Dogecoin was launched in December 2013 by software developers Billy Markus and Jackson Palmer. Dogecoin has been popular over the years and has a market cap of $85,314,347,523 as of May 2021. So, could Dogecoin reach $100 given the current market price and trend?

Over the past six months, the Dogecoin price  has  gradually risen, peaking at $0.73 in May 2021 and currently hovering around $0.40. So, while it is highly likely that Dogecoin will reach $1, or even $10 in 10 years, it is very unlikely that Dogecoin will reach $100 any time soon. One of the main reasons Dogecoin price doesn't go up much is that it doesn't have an upper limit. For example, about 18 million Bitcoins are currently in circulation, of which about 130 billion Dogecoins are in circulation.

Cryptocurrency	Dogecoin
Token	DOGE
Price	$0.3607
Market cap	$46,986,638,436.74
Circulating Supply	129,881,831,420 DOGE
Trading Volume	$ 2,141,702,645.0000
All-time high	$0.7376 May 08, 2021
All-time low	$0.00008547 May 07, 2015

Dogecoin Basic Analysis

Dogecoin is an open source cryptocurrency and, according to many experts and reports, Dogecoin was just a meme at the time of its launch. This coin has the logo of  Shiba Inu. One of the main features of Dogecoin is that it uses the Scrypt algorithm, has an affordable price, and  has an unlimited supply. Although the Dogecoin infrastructure is not as powerful as Bitcoin, it is still up and running thanks to an active miner community. According to Zachary Mashiach of CryptoIQ - , “Many Scrypt miners still prefer Dogecoin (DOGE) over other Scrypt PoW cryptocurrencies. In fact, the hash rate of Dogecoin (DOGE)  is around 150TH/s. This is just below the Litecoin (LTC) hashrate of 170TH/s, probably because it allows you to combine Dogecoin (DOGE) with Litecoin (LTC). This means that miners can mine both cryptocurrencies simultaneously using the same operation. Basically, almost everyone who mines Litecoin (LTC) decides to mine Dogecoin (DOGE) as well because Dogecoin merged mining  (DOGE) increases their profits."

Dogecoin Reward Information

Block	Reward
1 – 99,999	0 – 1,000,000 Dogecoin (Random)
100,000 – 144,999	0 – 500,000 Dogecoin (Random)
145,000–199,999	250,000 Dogecoin
200,000–299,999	125,000 Dogecoin
300,000–399,999	62,500 Dogecoin
400,000–499,999	31,250 Dogecoin
500,000–599,999	15,625 Dogecoin
600,000+	10,000 Dogecoin

How Much Does Dogecoin Cost

This is a very common question among Dogecoin investors. Dogecoin is considered a meme coin, so it will be  very difficult  for Dogecoin to be consistent. So if you want to know the price Dogecoin can reach, what is the value behind Dogecoin? You need to understand the main drivers. One of the main factors affecting the price of Dogecoin is its fundamental value as a unit of exchange. Also, the blocking time of Dogecoin is  1 minute, which is significantly shorter than  Bitcoin and Ethereum. Also, Dogecoin processes transactions faster than Litecoin. So for  meme coins like Dogecoin, this is very impressive.

Market sentiment also plays a very important role in the price of Dogecoin. Tesla CEO Elon Musk, for example,  is a huge fan of DOGE, and it also influences the price. So, when Elon Musk tweeted about Dogecoin, the new price barrier for Dogecoin broke. Dogecoin has recently experienced tremendous trading volume and many crypto experts say they support it. If Dogecoin's bullish trend continues, it will maintain its consolidation trend for the rest of 2021. According to many experts, Dogecoin could close in 2021 with a maximum price  of $0.4.  Dogecoin could start trading at $0.35 in 2022, with the possibility of a  price rising to $0.52 to attract marketers. However, if  the price falls into a bear trap for any reason, it could move further down and reach a level below $0.4. Therefore, the future of Dogecoin may not necessarily be as strong as other cryptocurrencies. However, Dogecoin price could reach  $0.75  and $0.98 over the next five years. Therefore,  Dogecoin cannot reach $100 in the near future.

Frequently Asked Questions about Dogecoin

1. Is Dogecoin a good investment?

If you plan to invest in Dogecoin for a long time, it will be a lucrative investment. However, if you are a short-term trader, investing in Dogecoin is not the best solution.

2.  DOGE Price  Reach $1?

Dogecoin peaked in May 2021 and many experts say Dogecoin is on the rise. Moreover, with many investors  showing interest in Dogecoin and  seeing the potential of the currency, it is highly likely that Dogecoin will hit $1  in 2021.

3. Where To Trade Dogecoin ?

There are many exchanges  where you can trade Dogecoin. For example, you can trade Dogecoin on exchanges like Binance, OKEx, HitBTC, Thodex, VCC, etc.

4. Is Dogecoin safe?

Yes, Dogecoin is safe. It shares many technical characteristics with Bitcoin, the world's first cryptocurrency. Additionally, the Dogecoin network  is secure and  provides real-time consensus.

5. Why is Dogecoin so cheap?

There are several reasons why Dogecoin is cheap compared to other cryptocurrencies. The main reason is that Dogecoin has no supply cap, so Dogecoin is unlimited and vulnerable to inflation. According to the latest statistics, about 10,000 coins are added  to the supply every day by Dogecoin miners, which makes Dogecoin's price low due to the huge amount of Dogecoin  in circulation.

6. Who owns the most Dogecoin?

One whale owns 28% of all Dogecoin and his wallet is  $28 billion.

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