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Key Points
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Dogecoin (CRYPTO: DOGE) is currently priced at $0.24 and may potentially reach $1 by 2035, a much smaller gain than its 143,300% increase over the past decade.
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The cryptocurrency market is valued at $3.8 trillion today, largely driven by hype cycles rather than solid fundamentals.
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Investors looking for more stability may consider alternatives like Bitcoin, which has seen a 460% increase over the last three years compared to Dogecoin’s 232% gain.
Dogecoin, created as a joke in 2013, has become a popular yet volatile digital asset, currently trading 67% below its record high from May 2021. As of July 19, analysts note that such a substantial increase in price over the next ten years is unlikely due to the “law of large numbers.” Furthermore, Dogecoin’s lack of utility and developer activity raises concerns about its long-term viability.
In contrast, Bitcoin’s capped supply of 21 million coins represents a strong market position, which could deter interest in Dogecoin as it continuously introduces new tokens at a rate of 10,000 per minute.
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