As Elon Musk halts his Twitter takeover, where will DOGE go?

16 May 2022

Meme currencies like Dogecoin (DOGE) are quite popular. A cult-like following has formed around this dog-themed coin, which has seen its price fluctuate wildly.

As a result, there is always a lot of interest in Dogecoin price forecasts.

Cryptocurrencies have been falling hard in this risk-averse market for several weeks. Dogecoin and other meme coins have suffered this to a larger extent.

When it comes to Dogecoin, the take-private proposal for Twitter (TWTR) by Elon Musk looks to be faltering.

A lot will depend on whether or not this transaction goes through since Twitter posts from Elon Musk have been essential in the rise of Dogecoin.

A big difference has been opened between Dogecoin and other meme cryptocurrencies over the last day.

As equities and other risk assets are recovering, Dogecoin is experiencing a lot of attention from prospective buyers.

For the next year and the next five years, WalletInvestor predicts that DOGE will be worth 24 cents each and 71 cents, respectively.

A year later, DOGE may be trading at 27 cents, and five years later, it could be trading at 98 cents.

Finally, according to DigitalCoinPrice, DOGE might cost as little as 13 cents per coin next year and 21 cents per coin in five years.

As a result, for those who are curious about this high-risk, high-reward investment, let's look at where the experts believe it may go.

One DOGE cryptocurrency is presently worth nine cents, to put things in perspective.

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DOGE lacks utility and needs a lot of work to get there. If Elon can pull it off that would be nice, he was helping the developers expand utility. But otherwise it could be another LUNA
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