Crypto is at a point where the technical aspects of most projects have improved significantly. What is still lagging behind is their adoption. This may explain why there is a huge yearning for institutional money to get involved in this space. However, even the retail segment of the market is still small, and needs more awareness about the whole idea of cryptocurrency. That’s why when influential celebrities talk up crypto, it is a sign of good things to come. On this basis, Dogecoin (DOGE) could be up for some good times ahead.
A few days ago, a top YouTube celebrity, Jackfilms featured Dogecoin in one of his videos and it’s a good thing for Doge. It’s a good thing because, this is a YouTube celebrity who has over 4 million subscribers. This means that out of those, there are many who didn’t know about Dogecoin (DOGE) but have now have heard it for the first time.
As such, there could be an increase in the demand for Dogecoin (DOGE) going into the future as such influential figures sway investor opinions. People tend to follow the lead of influential people and in the case of Dogecoin (DOGE) it is unlikely to be any different.
The best part is that, the feature by Jack is a boost to a crypto that is already on the move. Dogecoin has been making huge moves in terms of adoption for some time now. For context, it is one of the most used cryptos in the market today, and ranks close behind Bitcoin (BTC) and Ethereum (ETH) in terms of real world adoption.
This is an indicator that most Dogecoin transactions are for merchant transactions. As such, this move also gives people who are using Dogecoin the confidence to keep using it as a currency. The result will be an increase in its usage, and by extension drive up its value.
This makes Dogecoin (DOGE) one of the best investments in the market today. Not only is gaining in adoption, it’s also gaining publicity from the right quarters. It is also trading at very attractive prices, when compared to its all-time highs. This means that in the long-run, it could see its value increase significantly. Its risk-reward potential looks attractive at this point. As its use increases, Dogecoin (DOGE) could easily retest 2017 prices within the year.
Besides, the entire market seems to have bottomed-out. After Bitcoin (BTC) hit $3100 sometime back, it has since been on an uptrend, and seems to have established strong support at $3700 – $3800. This means that the market could be trading at the bottom, and could be on its way up. If this is the case, altcoins could rise faster, as they have done in all the recent Bitcoin rallies. In such a scenario, Dogecoin (DOGE) could easily rise way past its all-time highs. This time it has even stronger fundamentals than it had in the past, due to its higher adoption. Its future is bright.