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5 Predictions of Dogecoin (DOGE) for 2022

5 Predictions of Dogecoin (DOGE) for 2022

Dogecoin (DOGE) crypto meme asset will get site updates and engineering foundations. Although supported by Elon Musk, DOGE is struggling to reach a record high again.

DOGE's 3500% increase in value in one year makes it an attractive crypto asset for investors. DOGE became the most searched cryptocurrency in 2021 according to Google Trends data.

Is DOGE able to sustain this achievement?

5 Predictions of Dogecoin (DOGE) for 2022

First, DOGE will get a new look that includes a redesign of the Dogecoin site as well as an insight source called Dogepedia.

DOGE's technical foundation will be updated so developers can work more easily with DOGE. In addition, the DOGE team developed a GigaWallet that facilitates the integration of these assets without difficulty.

Second, Elon Musk will continue to support DOGE. The man nicknamed Dogefather always voiced support for DOGE on social media. Musk argues DOGE is an asset for people who are easier to spend compared to Bitcoin (BTC).

Musk's tweet was a huge boost to DOGE's success. Musk even talked about DOGE on Saturday Night Live which made DOGE prices soar and reach record highs.

Third, the market will accept DOGE. According to cryptwerk's website, about two thousand retail merchants have received DOGE. This number is increasing including Tesla which accepts DOGE as a means of payment.

AMC cinemas are starting to accept crypto assets, and DOGE will be supported from March 2022. Big investor Mark Cuban also accepted DOGE as a means of payment for the dallas maverick sports team's merchandise purchase.

Fourth, other crypto meme assets will compete with DOGE. The phenomenon of crypto meme assets is quite new as part of popular culture that intersects with investment instruments.

The emergence of other meme assets, means DOGE needs to be prepared to compete in the future. One of them is the Shiba Inu (SHIB) whose value skyrocketed and exceeded DOGE's performance significantly.

DOGE has a loyal community but it is difficult to maintain a reputation as a rebel when DOGE occupies the ranks of top crypto assets.

Fifth, DOGE will continue the brand race. The founder of DOGE did not register the brand because this asset was created as a joke at first.

DOGE competitors take advantage of this and register the Dogecoin Foundation as well as doge.org domains. The DOGE team has the challenge of claiming legal ownership on behalf of Dogecoin.

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