Dogecoin prices: Will Dogecoin be around for the long-term? Experts weigh-in
Crypto's Future

Dogecoin prices: Will Dogecoin be around for the long-term? Experts weigh-in Crypto’s Future

At points this year, Dogecoin has hit heights above PS0.50 GBP ($0.70 USD). However, like all cryptocurrencies, Dogecoin has proven time and again the market is volatile and subject to change in an instant. It has plunged several times this year, as well as hitting stark highs.

Dogecoin’s price in USD was around $0.19- $0.20 earlier this August.

According to CoinDesk data however, DOGE’s price began to rise around Saturday, August 7.

Dogecoin’s peak price was $0.272700 on Sunday August 8.

According to CoinDesk data, Dogecoin’s price was at PS0.183345 ($0.254130) as of Tuesday August 10.

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It has dropped by 2.80 percent in the past 24 hours.

Dogecoin’s market capital was also at PS23.95 Billion ($33.20 Billion) as of August 10.

Dogecoin’s price can fluctuate without notice, so it is difficult to determine the future value of Dogecoin.

Express.co.uk spoke with cryptocurrency experts in order to discover what the future holds for cryptocurrency.

Express.co.uk’s Michael Stroev told Express.co.uk that he doesn’t consider DOGE to be a significant shift in cryptocurrency or a leading long-term cryptocurrency.

The “Dogecoin” coin is a virtual currency that can be used only for speculation.

It should be considered a crypto-option with high risk, such that people shouldn’t invest in it without understanding its precarious balance.”

Express.co.uk was informed by Dr Pooja Lakhi, a University Canada West Lecturer: “[Dogecoin] still retains its value and remains stable at $0.20, despite China’s efforts to ban cryptocurrency mining.

It has some benefits over bitcoin. Dogecoin has a lot more coins than bitcoin. There are 10,000 new coins being mined each minute, and there is no limit to its supply.

It is slowly gaining acceptance. Dogecoin started out as a joke and has experienced a wild ride this year.

It is not a joke anymore and it could become one of the most important cryptos in the upcoming years.

This article is not intended to be a substitute for financial advice. Anybody considering cryptocurrency investing should understand the potential risks.

Publiated at Tue 10 August 2021 23.40:53 +0000

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