- Stockmoney Lizards predicts a potential bullish trend for Dogecoin (DOGE) soon.
- DOGE’s supply inflation rate is expected to drop to 2.5% by 2035.
- DOGE’s price increased by 2.30% in the previous week.
The cryptocurrency research platform Stockmoney Lizards predicts a potential bullish trend for Dogecoin
The page highlighted the parabolic growth trajectory on one of DOGE’s long-term graphs. This might be a highly positive signal for the altcoin, as it occasionally suggests robust purchasing momentum and excitement among market participants and investors.
The potential increase in DOGE’s price was attributed in the article to its supply or inflation. At its inception, DOGE had a total supply of 100 billion DOGE. Since then, an extra 5 billion DOGE coins have been introduced into circulation annually.
The supply of DOGE is approximately 140.38 billion, with a decreasing inflation rate anticipated over time. Stockmoney Lizards predicts that by 2025, the inflation rate will drop to 3.4% and reduce to 2.5% by 2035. These diminishing inflation rates are crucial when evaluating DOGE’s long-term value and stability.
In the final analysis, the experts forecast that DOGE’s potential incorporation into X could be its primary pathway to success. Indeed, Stockmoney Lizards asserts that arrangements have already been made for X to utilize DOGE, as the company has secured a license to store, transfer, and trade Bitcoin
One should also take into account the upcoming BTC halving in 2024. The previous halvings in 2016 and 2020 positively impacted the top meme coin, and Stockmoney Lizards predicts a similar outcome could occur with the 2024 halving event.
Over the past day, DOGE’s price has slightly risen 0.10%, as per CoinMarketCap data, pushing its trading value to $0.06235. Despite this, the 24-hour trading volume of the cryptocurrency fell by more than 5%, landing at around $192.75 million. It’s important to highlight that DOGE’s price increased by 2.30% in the previous week.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
