After a short time, the Dogecoin price is on the move again. The coin is up 7.1% in the past 24 hours, with the price hovering around $ 0.30. It is currently number 7 on the list at the time of going to press. There is much speculation about the price increase.
The coin has crossed the $ 3 mark several times in the past few days, but bottomed out each time. The coin needs to rise above the resistance and level off above 40 cents, this will bring the dog based coin closer to the $ 1 mark that doge owners want. However, the digital coin has to surpass two more resistances expected at around 50 and 60 cents.
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Can Dogecoin switch to Ethereum?
Ethereum co-founder Vitalik Buterin said in a response to a tweet that he hopes Doge will switch to proof-of-stake soon, possibly using Ethereum codes. He also hopes they don’t cancel the $ 5 billion a year proof of work issue.
Meanwhile, according to some reports, it has emerged that tennis superstar Naomi Osaka has shown an interest in Dogecoin. It’s not the first time celebrities have shown interest in the asset. Or it could be the resurgence of famous people after a rather long hiatus.
Accordingly, the formation of a cup and a handle can be seen from the daily charts. And given the trading charts, a breakout could be fast approaching. If the prevailing situation continues, we can assume that Doge will exceed $ 1 by year-end and over $ 2 by 2022.
Taken together, a number of factors can fuel Doge’s bull run, such as the rise in coins like Bitcoin and Ethereum. The mass acceptance of the coin by small and large companies plays a central role. Assuming the sleeping giant can, as they say, disrupt the market for newer ATH, possibly at $ 10 by the end of the decade.
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