Dogecoin, a peer-to-peer digital currency, is currently the fastest growing Cryptocurrency in terms of total daily transaction volume. Initially, Dogecoin was created as a joke by internet savvy individuals. It was actually the brainchild of entrepreneur Chandler Harker who saw a need for a “reward coin”, a novelty currency that would reward members for their efforts in advertising the website Dogeboards. Originally a site to advertise his business, Chandler designed Dogeboards which featured a doge-drawn picture as the currency. Although not recognized as a legal tender, it was embraced by the Cryptosphere and its users have grown to love it.
Dogecoin is now a popular Internet currency that allows its users to spend or invest in the virtual money rather than real world money. Unlike other currencies, like the dollar, that is backed by a commodity, such as gold, dogecoin are all valued based on the efforts of the doge community. Every dogecoin issued is associated with an individual effort or idea.
The following predictions are made regarding the future dogecoin market cap and dogecoin price. As of this writing, dogecoin has a total market cap of over one billion dollars. Of course, this value is constantly changing since new dogecoin traders continually enter the market. As stated by the creators of dogecoin, it is a perpetual virtual currency.
The following prognostication is based on information that has been deemed credible by both the dogecoiners and the experts. If you want to buy dogecoin, according to these analysts, you should buy it in large quantities now. They predict that in the next four years, there will be more than ten thousand new millionaires created by the adoption of this new virtual money. It is predicted that by the year 2020, dogecoin will overtake the United States dollar as the second most popular virtual currency after the dollar.
One of the reasons why these analysts make such bold claims is because they have seen through the rise of dogecoin to unbelievable heights. The dogecoin market capitalization has risen from four hundred thousand at the beginning of the year to more than six hundred million at the end of last year. This huge leap was due to the high adoption rate of this new currency. Their prediction for the future does not take into account the rapid adoption rate, but they note that the large number of new users will continue to raise the value of dogecoin.
The analysts also predict that in the next four years, the third largest contributor to dogecoin’s value will be the Dash. Another currency that they note as having high chances of becoming a top contender is Reddcoindigest. Their base is on the idea that this virtual coin is a future threat to the existing top dog, the Dogecoin. They believe that the price of Dash will increase twenty times during the next four years, which will push it out of the dogecoin category and put it in the top spot. By the year 2020, it is believed that Reddcoindigest will be the third most popular cryptocoin after the Doge and Litecoin.
The dogecoin price prediction does not take into account the rapid growth of this new virtual currency. Most people who are involved in dogecoin trading are aware of the dogecoin price prediction, but they are interested in how this predicted price will affect the market. Dogecoin traders might reach a point when they realize that this coin is not only a source of profit, but also a source of income for many of them. Traders can expect that the dogecoin price prediction might reach levels that they cannot manage. When this happens, traders should start looking for another trading software that can help them to adjust their dose trading activities so that they do not lose money in the process.
In order to succeed in the world of dogecoin, you should understand that the competition is very fierce and that you might have to work even harder than the dogecoiners in order to survive in this market. When you decide to start investing in dogecoin, you should also understand that you should not expect great returns immediately. Dogecoin has been growing in popularity every single day and it is predicted that it will continue to grow until at least next year. As a result, dogecoin prices will likely increase dramatically and so too will the number of traders who try to make some money from it. If you are planning to invest in dogecoin, you should be prepared for both good and bad, but most importantly, you should be ready to learn a lot about these currencies and how they operate.