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Reasons Why Dogecoin Price May Never Hit $50 or $100
The value of Dogecoin is generally considered to be relatively high, but it’s just a result of short-term hype. However, achieving a valuation that would push its price to $50 or $100 is strictly out of this world given today’s market conditions.
One major factor that contributes to the limitations on Dogecoin’s future growth is the presence of competing cryptocurrencies with better utility cases. This reduced value proposition of Dogecoin in the long run makes it even more challenging for the asset to reach such lofty heights.
In essence, these factors have led analysts to conclude that the likelihood of Dogecoin reaching $50 or $100 is slim to none.
Source: cryptonewsland.com
