Dogecoin is a popular meme coin that has inspired many other animal-themed cryptocurrencies. DOGE paved the path for the numerous cats and dogs that are flooding the meme coin realm. Meme coins were primarily developed as a joke, as their name suggests. Meme coins, however, have been incredibly popular recently.
Many users attempt to join the meme coin frenzy in an effort to blend in. With Dogecoin, the meme coin craze got started. The meme coin trend began with Dogecoin. It was followed by a number of coins attempting to impersonate the DOGE father.
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With numerous users getting their hands on Dogecoin, a question arises about how high DOGE can go in June 2023. Before we dive into our Dogecoin price prediction for June, let us take a brief look at Dogecoin’s history.
A brief history of Dogecoin
Developed in 2013 by Billy Markus as a lighthearted joke based on the “doge” meme, Dogecoin features a Shiba Inu dog as its logo and was initially used for tipping content creators on platforms like Reddit and Twitter
Initially, DOGE was developed as a playful online joke, and the original developer sold his coins before the coin gained popularity. DOGE was primarily used for tipping content creators on platforms such as Reddit and Twitter.
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However, its fortunes changed when Elon Musk began tweeting about it, expressing his support for the memecoin. As a result, DOGE became very popular and started rallying after every tweet.
While there have been some temporary dips, Musk’s tweets marked a turning point for DOGE, propelling it to greater heights. Currently, the Dogecoin Foundation manages the first memecoin.
DOGE price performance
DOGE is trading at $0.07858, with a 0.28% spike in value over the last 24 hours. The meme coin has provided its early investors with an ROI of 13963%, according to CoinMarketCap data. DOGE touched an all-time high of $0.7376 on May 8, 2021. The largest meme coin is down by 89.35% from its all-time high.
Dogecoin Price Prediction for July 2023
Various factors such as market conditions, price action, developments, supply, and use cases will determine whether Dogecoin can shoot up in price in July 2023.
Based on Dogecoin’s behavior at the start of 2023, cryptocurrency experts at Changelly predicted the price of DOGE for July. For July, DOGE’s minimum price is anticipated to be $0.0644. The maximum price expected is $0.0720. It is anticipated that DOGE will trade at an average price of $0.0682.
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All of these predictions, however, are subject to change with a simple tweet from Musk. Elon Musk’s tweets have previously played a role in driving speculation about Dogecoin’s price, but this time, the cryptocurrency may have a tangible use case. It is possible that Dogecoin will be added to Twitter for tipping and payments, potentially enhancing its practical value.