Dogecoin DOGE/USD was initially developed as a meme-coin; however, over time became appealing to a lot of people due to the fact that it was cheap to send transactions using it when compared to using Bitcoin BTC/USD, for example.
Additionally, Dogecoin has one of the largest communities on social media, as well as a plethora of followers that stand by the developments surrounding the token.
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Robinhood’s CEO prediction as a catalyst for growth
On April 11, we covered how Elon Musk planned to add Dogecoin (DOGE) payments for Twitter blue.
The CEO of Robinhood, Vladimir Tenev, took to Twitter on April 14, 2022, to explain how Dogecoin could actually become the future currency of the internet.
This is a thread of 12 posts that he shared across almost 200,000 of his followers and outlined what steps need to be taken as a means of transforming this meme-coin into a usable asset for everyday payments as well as transactions on the internet.
Tenev began by highlighting the Dogecoin transaction fees, which are at $0.003 per transaction, which is already small enough to place the altcoin as a feasible e-cash frontrunner.
He also mentioned how the block size and the block time of Dogecoin are the main areas that require improvements. This is due to the fact that Dogecoin has a 1MB block size and a 1 minute block time, which means that its total throughput is at 40 transactions per second (TPS).
Ultimately, if these developments do come to Dogecoin, it has the potential to become the currency of the internet.
Should you buy Dogecoin (DOGE)?
On April 15, 2022, Dogecoin (DOGE) had a value of $0.1457.
The all-time high of Dogecoin (DOGE) was on May 8, 2021, when the token reached a value of $0.731578. Here, we can see that the token was $0.585878 higher in value or by 402%.
When we go over the performance of the token throughout 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 showcases that Dogecoin (DOGE) increased in value by $0.0411 or by 37%.
With all of this in mind, we can expect the value of DOGE to reach $0.19 by the end of April, which makes 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:
- Etoro, trusted by over 13m users worldwide. Register here >
- 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.
Source: https://invezz.com/news/2022/04/15/robinhood-ceo-calls-dogecoin-currency-of-the-internet-should-you-buy-doge/