Dogecoin Price Prediction

Dogecoin (DOGE) is THE original meme coin: Dogecoin was founded all the way back in 2013 by Billy Markus and Jason Palmer as a more fun alternative to other cryptocurrencies existing at the time, using the internet meme Shiba Inu dog Doge as the “face” of their digital coin. This lighthearted approach worked well in generating interest in crypto and Dogecoin in particular.Dogecoin’s design is based mostly on Litecoin (which, in turn, is almost identical to Bitcoin). One of the few differences between those altcoins and Bitcoin is their use of the Scrypt technology in the Proof-of-Work protocol, which initially made them harder to mine as the process requires sophisticated equipment. Dogecoin also used to have randomized block rewards for miners, which was later changed to a fixed amount.The coin is used mainly as a means of payment for products and services, with Dogecoin transaction fees being quite low. It had a fairly unique use case in a tipping service on Reddit and Twitter, allowing users to make quick gifts to other users they liked.Dogecoin is a fairly popular coin due to both its memetic, even satirical nature and the support of celebrity business people like Elon Musk and Mark Cuban. Notably, its creator Jason Palmer quit the project in 2015, as he became disillusioned with the whole crypto movement, so obviously, not everybody still endorses this coin.Dogecoin entered 2021 on a strong note, DOGE price growing from ~$0.01 to ~$0.08 by February. Later Dogecoin’s price declined a little, trading at $0.05–$0.06 throughout March, but later Elon Musk’s tweets about the coin, as well as the general market sentiment, sent the DOGE token’s price flying, and in May, it reached an all-time high of $0.7376.Later the price turned bearish, reaching $0.16 in late July, but as the crypto market began…