Dogecoin is one of the most popular cryptocurrencies. Despite being created as a meme coin, it found resounding support in the crypto community, and is being actively used as an investment asset. The coin price, however, has been dropping after 2021, with many cryptocurrency investors asking themselves: “Should I sell my Dogecoin?“. Traders Union experts have an answer to this question.
What is DOGE?
Dogecoin is the most popular meme coin. Initially created as a “joke”, it was named after the doge meme that features the face of the Shiba Inu dog. No value was put into this cryptocurrency at the start, which is why its popularity among investors came as a surprise even for the developers.
Dogecoin runs on its own dedicated blockchain, and this digital coin can be mined. Cryptocurrency is not used much for online payments; it does not have a payment infrastructure at physical points of sale. Therefore, its price is mostly determined by supply and demand, as well as popularity on social media.
Should you sell Dogecoin?
To determine whether to hold on to Dogecoin or sell it, traders first need to learn short-, medium- and long-term DOGE price predictions. According to an analysis performed by Traders Union experts, the average coin prices are predicted at the following levels:
- December 2023 – $0.126;
- December 2026 – $0.36;
- December 2030 – $1.214;
- December 2035 – $2.08.
This means that the Dogecoin price is expected to rise in the future. Therefore, if you decide to sell this cryptocurrency now, you may have to consider it as an investment asset in the future.
Traders Union experts also made price predictions for other cryptocurrencies. For example, traders can review the XRP price prediction 2023.
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