It seems as though meme-coin mania is returning to its peak levels of April and May this week. Altcoins have steadily surged toward previous all-time highs; cryptos seeing the largest growth spurts through the last week have largely been meme coins. These coins, a sort of crypto class in its own right, emphasize humorous names and logos and exist almost exclusively as vehicles for price arbitrage. Dogecoin (CCC:DOGE-USD) is the inarguable progenitor of this movement, and it’s moving back upward at breakneck pace. Dogecoin price predictions are heating back up accordingly.
What makes Dogecoin different from other meme coins is that it has transcended this price arbitrage model and is now a medium of transaction for real world goods. There’s a long list of places where one can buy goods and services with their Dogecoin, from hotels to flights to sports tickets. That’s where its strengths lie, and crypto influencers have long been hip to this knowledge.
One of the most vocal Dogecoin bulls, Mark Cuban, is voicing his faith in the digital currency once again this week. The billionaire entrepreneur said on Friday he believes the Dogecoin community proves its strength as a transactional currency. He goes on to laud it as one of the only cryptocurrencies actually used for buying things.
Over the weekend, another prominent Dogecoin bull agreed with Cuban’s sentiment. In a short tweet, Elon Musk replied to Cuban’s statements, and reiterated similar feelings toward the currency. Musk’s tweet is prompting a trending hashtag on Twitter, #DogecoinTo1Dollar. The community of investors is stoking the flames once again after seeing celebrities finally return to discussing their favorite currency. Crypto YouTuber Matt Wallace, a well-known Dogecoin bull, is among those calling for the currency to return to all-time highs and to capture the $1 milestone:
#DogeCoinTo1Dollar starting to trend! LET’S MAKE IT GO CRAZY!!!
— Matt Wallace ⚠️ (@MattWallace888) August 15, 2021
Dogecoin Price Predictions: Will Cuban and Musk Help Elevate Doge to $1?
DOGE is soaring this morning as chatter around the crypto continues to gain steam. The coin is currently up by around 15%, allowing it to retake the 30-cent mark once more. Is Dogecoin due for its $1 valuation? What might DOGE prices look like in the coming months? Let’s consult some Dogecoin price predictions:
- WalletInvestor doesn’t see DOGE shooting skyward like it did earlier in the year. The outlet is forecasting a price of around 59 cents for Dogecoin by August of 2022.
- CoinPriceForecast isn’t joining the #DogecoinTo1Dollar crowd just yet, but they see a brighter future for Dogecoin than WalletInvestor. By December of 2021, the outlet thinks Dogecoin will reach a value of 67 cents.
- The Economy Forecast Agency says in a year, Dogecoin could be knocking on the door of the $1 milestone. The outlet suggests a price of 91 cents for the coin by August of next year.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.