Dogecoin is currently making noise, thanks to Elon Musk and other popular celebrities. Here are the 2021 predictions you need to know.
Dogecoin, the latest type of crypto, is now making a huge noise and attracting various people, especially the popular ones such as Elon Musk, Snoop Dogg, Mark Cuban, and more. These millionaire celebrities are loving it even more since it is increasing its value as days go by, just like its tagline “To The Moon.”
Previously, the giant tech CEO Elon Musk, who owns the giant Tesla and SpaceX, announced that he thinks digital currencies, such as Dogecoin, will remain in the market. Aside from him, Snoop Dogg, Mark Cuban, and other celebrities and millionaires also joined the current bandwagon.
Athletes are also flocking to Dogecoin and Bitcoin, as well as Ether, following a record-breaking rally. Trevor Lawrence, the No. 1 NFL draft pick in 2021, partnered with a global digital currency investment app called Blockfolio and plans to place his signing bonus into an account with the company.
If you don’t have any idea what is Dogecoin, it is a digital currency created and exchanged over a decentralized computer network where transactions are secured and verified through coding. However, you need to remember that this crypto is not supported by the government, just like other cryptocurrencies out there.
This means that Dogecoin’s worth is still unclear. To help you further, here are some of the predictions experts made for this crypto this year of 2021.
2021 Predictions You Need to Know
Dogecoin has continued to rise in recent days, becoming more valuable compared to other major companies, like Twitter, Ford, and Snap. On the other haND, some rumors presented some possible things that could happen to this newly-created digital currency. Here are some of them;
- It will hit $3 by the end of 2021.
- It will hit $1 in early 2022. The same company predicted the cryptocurrency will hit $0.91 in December 2021.
As of the moment, these are only the predictions about the new favorite Dogecoin. If you are not sure if you are going to invest in this new crypto, here are some things you can do;
- Experts advised that people need to invest in a cryptocurrency on a small scale. This will allow them to test the water before they release a huge budget.
- Interested people should also study the background and other major details of the crypto they are eyeing for. Remember, it is hard to gamble at a game you don’t know how to play.
- On the other hand, you should also know how to pick the right cryptocurrency exchange you will use. Like how banks and other financial institutions are designed to loan money, store money, and provide mortgages, these crypto exchanges are specifically designed to manage cryptocurrencies and their volatile nature.
- The last tip you need to keep in mind is to choose the correct cryptocurrency wallet. This tool is software that stores the private and public key that adds as a link between you and the blockchain where your crypto assets are.
As of the moment, the popular cryptocurrency promoted by Elon Musk is dominated by men since they cover 74% of the total investors. On the other hand, most of these investors are 25 to 34 years old. Right now, Americans who own crypto have already risen to 26%, compared to the past few years.