- dogecoinhasn’t been taking up much space in cryptocurrency trends for a while now. Users have lost most of their interest since May last year.
- Despite the ‘core release plan’ released by the dev team, the famous meme coin is struggling to recover.
- The analyst, on the other hand, thinks that the increasing selling pressure in the Dogecoin price may have very bad results, and as a result, there may be an 80% loss.
In the light of all these developments, the Dogecoin price is at risk of collapse, but despite this negative outlook, a famous analyst announced that he sold all his crypto assets and bought Dogecoin and Shiba Inu meme coins with all his assets.
Dogecoin Losing Its Popularity
Dogecoin co-creator Billy Markus also believes that cryptocurrency traders are losing interest in the meme coin because he argues that “crypto is only interesting when the price is high” prevails. Markus stated that the coin only gets interesting in the bull market, and the constant price drop since the summer of 2021 has resulted in the popularity of Dogecoin falling.
Markus posted a screenshot of a rapid decline in search requests for Dogecoin. In June 2021, the mass interest in Dogecoin reached 100, while within a year it fell 3 times below 25. As it will be remembered, the meme coin, which recorded a big rally in the summer of 2021, became one of the most popular assets in the crypto community.
crypto is only interesting to the masses when number go up
always has been pic.twitter.com/522uiLWQKa
— Shibetoshi Nakamoto (@BillyM2k) June 6, 2022
Developers Released Core Plan
The latest version of Dogecoin Core was released about six months ago. A plan for the release of the next version of Dogecoin Core has been introduced in a dedicated GitHub section dedicated to the meme coin.
Among the points shared in the v1.14.6 release plan; The developers paid particular attention to the elimination of known Bitcoin vulnerabilities. Bitcoin nodes can be protected from attacks that challenge the receipt of transactions from other nodes. The developers believe this can improve the overall security of the Dogecoin Core infrastructure.
Jeremie Davinci, a prominent Bitcoin analyst and one of the leading investors, recently told his followers DOGE and Shiba Inu announced that it has sold all its cryptocurrencies.
I sold everything except $Shib and $Doge!
— Davinci Jeremie (@Davincij15) June 6, 2022
Sharing the comment that “I didn’t mean exactly that, but somewhat true” after this statement, Jeremie probably protects his other assets as well, but he chose this narrative to describe a bullish sentiment in the two leading meme coins.
On the other hand, analysts evaluating the Dogecoin price trend, meme coinHe predicts that , may crumble under selling pressure and record a 76% decrease. @Pladizow, a crypto analyst, has set a bearish target of $0.01877 for the meme coin.
You can follow the current price movements here.
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.