After a brief period, Dogecoin price is on the move again. The coin has garnered gains of 7.1% over the last 24 hours, the price is hovering around $0.30. Currently, it is at the 7th position on the list, at the time of press. There are numerous speculations around the surge in prices.
The coin surpasses the $3 mark multiple times in recent days but hits low every time. The coin has to rise above the resistance and settle over 40 cents, this will bring the canine based coin closer to the $1 mark, which Doge holders are wishing for. However, the digital coin will have to surpass two more resistances expected at about 50 and 60 cents.
Can Dogecoin Switch To Ethereum?
Vitalik Buterin co-founder of Ethereum, in a reply to a tweet, said that he hopes Doge to switch to Proof-of-stake soon, possibly using Ethereum codes. He also hopes they don’t cancel the 5B/year annual Proof-of-work issuance.
Meanwhile, according to some reports, it has come to light that Tennis Superstar Naomi Osaka has shown interest in Dogecoin. It’s not the first time celebrities are showing interest in the asset. Yet it could also be the resurgence of the known personalities after a pretty long gap.
Accordingly from the daily charts, the formation of a cup and handle is seen. And considering the trading charts, a breakout might be fast approaching. If the prevailing situation continues, we can expect doge to surpass $1 by yearend, and over $2 by 2022.
Collectively, A number of factors can create impetus in Doge’s bull run, such as the surge in coins like Bitcoin, and Ethereum. Mass acceptance of the coin by small and bigger enterprises does play a pivotal role. Provided, the sleeping giant, as they say, can disrupt the market rising newer ATH, possibly a $10 price tag by the end of the decade.
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