Despite the fact that the price of Dogecoin is still under the radar, one well-known analyst has sold all his crypto assets and has further invested in Dogecoin and Shiba Inu.
Renowned bitcoin expert and early adopter Jeremy DaVinci recently announced that he has sold all his cryptocurrencies to his fans in order to save Dogecoin and Shiba Inu. Jeremy responded to his tweet, saying that his claim was not entirely accurate. While the portfolio of early bitcoin adopters is likely to include other assets and altcoins, it fueled an optimistic sentiment among holders.
Analysts are assessing Dogecoin’s price action and predict that Mem Coin will fall under selling pressure and drop by as much as 76%. A crypto researcher named @Pladizow has set a downside target of $0.01877 for the meme currency.
Billy Marcus gives One reality check
According to Billy Marcus, co-creator of Dogecoin, crypto traders have lost interest in the meme coin because crypto is attractive only when the price is high. Marcus argues that crypto is only interesting in a bull market and that Dogecoin’s popularity has been declining since the summer of 2021.
Marcus shared a snapshot of the sharp drop in Dogecoin search requests. While widespread interest in Dogecoin peaked at 100 in June 2021, it dropped below 25 in less than a year, a drop of 3x. The Dogecoin price surge in the summer of 2021 fueled the popularity of the meme coin in the crypto world, resulting in increased attention.
What’s next for Dogecoin?
The latest version of Dogecoin Core was released about six months ago. In a unique GitHub section dedicated to Joke Coins, plans to release the next version of Dogecoin Core have been revealed.
The developers have highlighted the elimination of known bitcoin vulnerabilities as one of the themes shared in the v1.14.6 release plan. Attacks on bitcoin nodes that resist receipt of transactions from other nodes can be mitigated. This, according to the developers, can improve the overall security of the Dogecoin core infrastructure.