Reported about 1 month ago
Dogecoin, a highly volatile cryptocurrency, currently trades at around $0.10, significantly down from its peak of $0.74. For it to reach $1, analysts suggest that improvements in its utility and a drastic reduction in its abundant supply are essential. Currently, Dogecoin faces challenges due to its limited use and inflationary structure, which could hinder its price growth compared to other cryptocurrencies. Despite a broader market surge, Dogecoin has underperformed, making its potential ascent to $1 seem uncertain.
Source: YAHOO