Dogecoin Founder Billy Marcus Says DOGE Might Never Reach Previous ATH of $0.74

2022-06-24 | Selina Mathew

Introduction

Dogecoin (DOGE) has been in the market for eight years and it’s one of the few cryptocurrencies that’s still around.

Billy Marcus, one of the people behind Dogecoin, says that DOGE might never reach a new all-time high since there hasn’t been a lot happening with it.

The meme-based cryptocurrency hit an ATH at $0.74 on May 4, 2021, after Elon Musk made a series of tweets about it.

At press time, DOGE is trading at $0.35 with a 24-hour low/high of $0.32/$0.38 and a market cap of $45 billion, according to CoinGecko data.

Marcus is one of the people behind the creation of Dogecoin.

Marcus is one of the people behind the creation of Dogecoin. He was part of the original team and was one of the first to mine the coin, as well as one of its first users.

Marcus is also an early investor in Dogecoin and has been in cryptocurrency for a long time.

The price of dogecoin hit $0.74 on December 7th, 2018 after reaching an all-time high (ATH) over $2 billion market cap in January 2018.

Since then however, it's fallen significantly from its ATH—it now stands at around $0.0016 USD per DOGE token with a total supply of 120,135,069 DOGE tokens available for trading on exchanges like Binance or Poloniex with no set date when that will change again due to how much cryptocurrency prices fluctuate depending upon factors such as

news flow relating specifically toward crypto-assets themselves rather than general economic conditions affecting traditional fiat currencies such as USD;

This means that if anything happens within this space which causes traders' confidence levels across all cryptocurrencies (including Bitcoin) drop significantly enough so people start selling off their holdings en masse then any market correction could potentially result in some coins losing value fast.

While others gain momentum faster too due to low supply relative demand right now compared against previous historical averages during times when prices were higher overall compared to today's levels based on historical averages (which would indicate they're cheaper now).

The cryptocurrency has been in the market for eight years and it’s one of the few cryptocurrencies that’s still around.

Whether or not dogecoin will reach its previous ATH of $0.74 is still up in the air, but for now, it’s clear that Dogecoin has held its own throughout this crypto market crash.

One thing we know for sure: Dogecoin has been around since 2013 — and is one of the few cryptocurrencies that have survived this bear market so far.

DOGE/USD 1 DAY PRICE CHART - SOURCE - COINMARKETCAP.COM

DOGE hit a new all-time high (ATH) at $0.74 on May 4, 2021, days after Elon Musk made a series of tweets about the meme-based coin.

The first tweet from Musk was: “Dogecoin is my favorite cryptocurrency. It's really cool and fun”

Then he tweeted: “Wow! Everything in life is better with dogecoin… even your farts will smell like fresh-picked apples and rainbows if you farted in front of someone holding dogecoins”

And finally: “I want to build a rocket that flies to mars and then crash it into the moon right as it reaches its peak height so I can give them one last view before they die. I think there should be an option where if you pay extra they can hold onto their dead bodies until they get back down because sometimes stuff happens during space travel like this."

He explained that DOGE is not used as much as other coins in terms of transactions.

DOGE is not used as much as other coins in terms of transactions.

As a result, it's difficult for the coin to gain value. The most recent data shows that Dogecoin has only had approximately 1,200 transactions over the last 24 hours—compared to Bitcoin’s 300,000+ transactions per day and Ethereum’s 30,000+ transactions per day.

At press time, DOGE is trading at $0.35 with a 24-hour low/high of $0.32/$0.38 and a market cap of $45 billion.

The price of Dogecoin (DOGE) has fallen by more than 90% from its all-time high (ATH) in January 2015, according to Coin360 data.

The cryptocurrency peaked at about $0.74 on January 7th, reaching an ATH of about US$1 billion in market value that day alone before falling sharply over the next few weeks amid widespread negative sentiment towards cryptocurrencies in general after Mt Gox collapsed into bankruptcy following years of insolvency and mismanagement on behalf of founder Mark Karpeles

While Dogecoin reached an all-time high back in May, it likely won't again in the immediate future.

This is mainly due to the fact that Dogecoin is not as popular as some other cryptocurrencies and hasn't been around for a long time, which has led some people to believe that its price may never reach those heights again.

Dogecoin was created in December 2013 by Billy Marcus, Jackson Palmer and co-founder Alex Green.

It's essentially a fork of Litecoin (a fork is when you take another cryptocurrency's open source codebase and make changes to it), but with a focus on being fun rather than serious or professional like Bitcoin or Litecoin."

Conclusion

This is not the first time that Marcus spoke about Dogecoin.

Back in March, he said that he was surprised with the fact that DOGE has more value than ever before given that it was made as a joke. Nonetheless, he said that there are several people around the world using it to send funds and make transactions.

He also mentioned that Dogecoin has been growing in terms of price due to its community behind it and all the memes created around it.

Finally, Marcus mentioned that DOGE is a decentralized currency and nobody controls it, which makes him happy. read more Cryptocurrency News

Your email address will not be published. Required fields are marked *