DAODAO will be the first DAO platform to accept DOGE, should you buy?

Dogecoin DOGE/USD is one of the largest meme-based cryptocurrency tokens. 

While it was initially developed as a joke that made fun of the serious tone of the cryptocurrency industry at the time, it eventually grew and now has a large community supporting it.

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The DAODAO plans as a catalyst for growth

On April 5, we covered where you can buy Dogecoin (DOGE) after it rallied once Elon Musk bought Twitter shares.

DAODAO, which is a new DAO platform that is going to launch in May, announced that they are building functionality to support investments of Dogecoin (DOGE) into any DAO launched on the platform.

According to the official Twitter post, which was published on April 5, 2022, DAODAO said, “We’re excited to announce that DAODAO will be the first DAO platform to accept $DOGE.”

DAODAO is the first-known DAO platform that has announced plans to offer support for the DOGE cryptocurrency token, alongside support for other cryptocurrencies such as ETH, SOL, BTC, and FIAT.

Should you buy Dogecoin (DOGE)?

On April 6, 2022, Dogecoin (DOGE) had a value of $0.1605.

In order for us to truly be able to see what this value point indicates for the value of the DOGE cryptocurrency token, we will be going over its all-time high point of value, alongside the performance the token showcased throughout the previous month. 

The all-time high point of value of the Dogecoin (DOGE) token was achieved on May 8, 2021, when the token reached a value of $0.731578. Here we can see that at its ATH, the token was $0.571078 higher in value or by 355%.

When we go over the performance of the token throughout the previous month, we can see that Dogecoin (DOGE) had its lowest point of value on March 13, when it reached a value of $0.1111.

However, the highest point of the month for the token was on March 28, when it reached a value of $0.1521. Here we can see that the token increased in value by $0.041 or by 37%.

With this in mind, we can expect DOGE to reach a value of $0.2 by the end of April 2022, making it a solid token to buy.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

1. Etoro, trusted by over 13m users worldwide. Register here >
2. bitFlyer, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.