Dogecoin priceis now progressing with more confident targets in the rise due to its increasing adoption and usage areas. The fact that famous names such as Elon Musk, Billy Markus and Vladimir Tenev share a more optimistic scenario about the meme coin may contribute to the increase in the price.
Dogecoin Price Target $0.20
Dogecoin (DOGE)appears to be ready to recover from the impact of recent cryptocurrency corrections. The top 30 altcoins are trying to make a comeback to regain the losses they suffered during the correction.
Dogecoin’s founder, Billy Markus, Tesla CEO Elon Musk, and Robinhood CEO Vladimir Tenev recently discussed its possible improvements and future for the meme coin.
Known for not having any commission rate, Robinhood’s CEO, Tenev, made a post stating that Dogecoin could be the future currency of the internet and people.
According to Tenev, the processing time of blocks needs to increase. If this boost happens, Dogecoin adoption will increase unexpectedly.
“DOGE’s current block time runs at 1 minute. This corresponds to a somewhat long time for payments. A block time of ten seconds would be more convenient as it would be less than the typical time it takes to complete a debit card transaction.”
that did not leave Tenev’s concerns and suggestions unanswered. Billy Markusshared a comment on why the block time is one minute. Elon Musk, on the other hand, thought that the Dogecoin network should process transactions faster while continuing to protect the security of users.
Analysts, evaluating the Dogecoin price trend, think that the latest developments may trigger a rally and the price may go up to the $0.20 level. According to FXStreet analysts, DOGE price could stay between $0.13 and $0.15. If the $0.13 support is broken and higher highs are seen, this could result in lower levels supporting the upswing. After this movement on the chart, the altcoin price may rise as high as $0.20.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.