Is Dogecoin A Good Long Term Crypto Investment – Experts Predict 20x Price Rise

On Aug 22, 2023

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Could meme coin DOGE be the best long term cryptocurrency investment as it’s already stood the test of time? Some analysts and experts predict the Dogecoin price could rise up to 20x in the next bull run.

These optimistic projections are rooted in the coin’s resilience across diverse market conditions and its well-established reputation.

Dogecoin’s recent plunge as market volatility resumes

The leader among meme coins has had a severe setback in the midst of an increasingly bearish attitude in the market. The recent dip in the market has generated debates about the possibility that Dogecoin might reach a significant boost in value anywhere between 10x to 20x at its current level.

This popular cryptocurrency has been experiencing significant financial losses recently, which may be attributed to a number of different sources, the most important of which is the sale of Bitcoin. The appearance of a technical failure has also played a role in stimulating sales demands, which is especially clear in the case of DOGE.

This occurrence has been particularly noticeable. In addition, there is a widespread belief that it will be extremely unlikely for Dogecoin and other cryptocurrencies to be utilized in any kind of transaction involving X (Twitter) in the near future.

On the other hand, it is clear that Musk has an upbeat assessment of the idea of a social media network that is built on blockchain technology and believes that such a platform will not be sustainable in the long run.

Can Dogecoin achieve a 20x return in the next bull market?

An argument commonly put forth against Dogecoin’s growth potential centers around its seemingly modest market capitalization of $8.7 billion. However, delving deeper into its history reveals that Dogecoin once achieved an all-time high market cap of approximately $82 billion.

This noteworthy past valuation strongly suggests that Dogecoin possesses the capacity for substantial growth that extends beyond its present market cap. By examining the recent price trends of Dogecoin, it becomes apparent that the coin has undergone periods of aggressive downtrends followed by phases of consolidation.

A review of the past six months reveals a similar pattern on the Bitcoin chart as well. This observation indicates that despite encountering challenges, Dogecoin has showcased resilience and the potential for upward movements in the days ahead.

DOGE price analysis

The current trade volume for Dogecoin over the past 24 hours is $240,205,273 USD, and the price of a single Dogecoin is at $0.062023. The value of Dogecoin has decreased by 1.05% over the past 24 hours.

Current CoinMarketCap ranking is No. 8, with a market cap of $8,726,583,029 USD and a supply of 140,698,136,384 DOGE coins in circulation.

In terms of community engagement, Dogecoin maintains an active presence in the cryptocurrency realm. The coin garners a substantial Twitter following of approximately 3.84 million users, highlighting its strong online presence.

Moreover, the coin has over 2.42 million subscribers on Reddit, further underscoring the depth of its engaged community. Looking ahead, the upcoming bull market presents the potential for Dogecoin to undergo an impressive 20x growth, which, if materialized, would result in a market capitalization ranging between 150 and 160 billion dollars.

While this projection remains speculative, it emphasizes the notion that Dogecoin’s historical performance and active community involvement suggest a significant potential for expansion.

High-potential investment opportunities

The past week witnessed the conclusion of a phase characterized by minimal volatility, leading to a surge in extensive selling across various alternative cryptocurrencies. Concerned investors are voicing their apprehensions about the potential repercussions of more negative news on the market.

Bearing this in mind, it becomes crucial to introduce a roster of top crypto ICOs that demand thoughtful evaluation for potential investments. Consequently, an expanding group of investors is proactively seeking new cryptocurrency projects to allocate their funds towards, ensuring they remain attuned to the rapidly changing landscape.

Wall Street Memes (WSM)

Wall Street Memes is now moving into the last phase of its presale, during which it was successful in raising over $25 million. This is an important achievement that paves the way for the actual debut of the coin on exchanges, which is scheduled to take place soon.

The Wall Street Memes coin currently stands at a value of $0.0337 per token as the presale enters its final and 30th stages. This stage is expected to be the largest one thus far, which will mark a significant accomplishment. For further information on acquiring $WSM, please refer to our comprehensive guide available here.

The imminent launch of the WSM coin is getting closer, as a recent website announcement revealed plans for $WSM to join notable top-tier exchanges within the next 35 days, which is scheduled for September 27th. On the other hand, the particular names of the exchanges have not been made public yet.

In addition to this, Wall Street Memes coin has launched a brand new staking system. As of the most recent staking update, a total of 168,143,779 WSM tokens had been staked. This staking program provides an expected annual yield of 119%, with rewards of 75 for each block on top of that.

The recently announced staking service, which is a crucial part of the complete offering that this project is making available, guarantees a passive income and strengthens the coin’s resistance to the numerous price swings seen in the cryptocurrency market.

Sonik Coin (SONIK)

Sonik Coin (SONIK), the newest entry into the arena of meme coins, has already amassed more than $300,000 in funding from its early supporters and aims to achieve a speedy rise to a market valuation of $100 million upon its Uniswap listing.

speedy lil’ ba**ard pic.twitter.com/Lb9yj2lGoe
— SONIK COIN (@Sonikcoin) August 22, 2023

It is asserted that this meme coin, which takes its cues from Sonic the Hedgehog, is a thrilling addition to the cryptocurrency industry. SONIK is notable, especially owing to its unique staking function, which enables early investor to buy and stake tokens in exchange for financial rewards.

This makes SONIK stand out among competing cryptocurrencies. Tokens that have been staked cannot be utilized for at least seven days, which ensures a consistent return for the duration of the staking period. Get ahead in the crypto market with our selection of the top low market cap coins to buy.

SONIK has a total supply of tokens that is 299,792,458,000, which is a number that is astonishingly similar to the speed of light measured in meters per second. At the moment, roughly 4% of this supply has been staked, which is equal to 8% of the presale allocation.

Significantly, a substantial 40% of the coin’s supply is earmarked for staking rewards, thereby generating an enticing annual percentage yield (APY) that surpasses 200%. Furthermore, 10% is allocated to ensure Uniswap’s liquidity, while the remaining 50% of the total supply is accessible within the $SONIK presale.

The intriguing notion of staking that Sonik Coin presents provides a tempting incentive to prospective purchasers, successfully reducing the amount of selling pressure that exists and encouraging prolonged asset ownership.

In addition to its staking functionality, the impending listing of Sonik Coin on Uniswap’s decentralized exchange will further extend its reach and increase the size of its potential user base. Given the growing level of interest, now would be an excellent time to make a purchase in order to avoid missing out.

Keep an eye on Sonik Coin’s official social media accounts for the most recent information regarding the progress of the project.

By emulating the appeal of a name that is instantly recognizable in the gaming world, this new cryptocurrency project, Sonik Coin (SONIK), hopes to attract the interest of crypto enthusiasts and investors alike as it makes its debut.

Within the competitive field of meme coins, its distinct staking procedures, earning potential, and strategic promotion collectively establish it as an intriguing contender. Take part in the SONIK presale at sonikcoin.com.