Dogecoin DOGE/USD was initially developed as a meme coin; however, over time it became attractive to many people due to the fact that it was cheap to send transactions using it compared to Bitcoin BTC/USD for example.
Additionally, Dogecoin has one of the largest communities on social media, as well as a large following that supports the developments surrounding the token.
Robinhood CEO’s Prediction as Catalyst for Growth
On April 11, we covered how Elon Musk planned to add Dogecoin (DOGE) payments for Twitter blue.
Robinhood CEO Vladimir Tenev took to Twitter on April 14, 2022 to explain how Dogecoin could become the internet’s future currency.
This is a 12-post thread that he shared with almost 200,000 of his followers and outlined the steps that need to be taken to transform this memo-coin into a usable asset for everyday payments and internet transactions.
Tenev began by highlighting Dogecoin’s transaction fees, which are $0.003 per transaction, which is already small enough to position the altcoin as a feasible e-cash favorite.
He also mentioned how Dogecoin’s block size and block time are the main areas that require improvement. This is due to the fact that Dogecoin has a block size of 1 MB and a block time of 1 minute, which means that its total throughput is 40 transactions per second (TPS).
Ultimately, if these developments make it to Dogecoin, it has the potential to become the currency of the internet.
Should you buy Dogecoin (DOGE)?
On April 15, 2022, Dogecoin (DOGE) was worth $0.1457.
Dogecoin (DOGE)’s all-time high was on May 8, 2021, when the token reached a value of $0.731578. Here, we can see that the token was worth $0.585878 higher or 402%.
When we review the performance of the token over the previous month, Dogecoin (DOGE) had its lowest value on March 13 at $0.111.
Its highest point was on March 28, when it reached a value of $0.1521. This also shows that Dogecoin (DOGE) increased in value by $0.0411 or 37%.
With all this in mind, we can expect the value of DOGE to hit $0.19 by the end of April.