It’s value increased in 2021 as the cryptocurrency markets recovered, gaining popularity on social media and spurring the creation of additional coins with Shiba Inu dog themes.

In order to provide a framework for governance and support for the development of the project’s community, the Dogecoin Foundation was established in 2014. Elon Musk unusually favors DOGE over other cryptocurrencies.

Furthermore, even in the context of cryptocurrency markets, the price of coin fluctuates wildly because social media communities are to blame for notable price peaks and subsequent crashes that garner mainstream media attention.

Doge Price Prediction:

DOGE, the native cryptocurrency that powers the Dogecoin blockchain, was last changing hands about 4.5% lower on the day on Monday, just south of the $0.09 level, adding to the 3.6% drop on Sunday.

Though it has recovered from earlier session lows below $0.0850, the cryptocurrency is still trading about 20% lower than its earlier monthly highs just above $0.11.

Its gains since its November lows in the low-$0.07s, while still substantial at around 23%, have been significantly eroded. As a result, price forecasts have become slightly more pessimistic.

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