• Dogecoin millionaire adds 21,000 DOGE to his holdings, predicts big moves ahead for the memecoin.
  • Analysts predict a 500-1000% rally in DOGE price if it trades above $0.24.
  • The upcoming fee reduction and Dogecoin-Ethereum bridge are the two key upgrades in the DOGE ecosystem.

Dogecoin holders await a significant upgrade in the memecoin that is expected to drive a reduction in transaction fees. Analysts have predicted that DOGE price is ready to explode with a massive breakout. 

Dogecoin holders set sights on 500-1000% gains, await bullish breakout in DOGE 

Glauber Contessoto, popularly known as the Dogecoin millionaire, announced his recent purchase of $5000 worth of Dogecoin. Contessoto has predicted that

something big is going to happen with DOGE soon.

He urged traders to accumulate the memecoin.

Dogecoin has exceeded Bitcoin, Ripple, Ethereum and Cardano in year-to-date returns, offering over 4500% gains since the beginning of 2021. 

Dogecoin creator Billy Markus had stated that once DOGE nodes upgrade to 1.14.4, there will be a reduction in transaction fees on the Dogecoin network. Proponents expect fee reduction to boost DOGE utility and trigger a rally. 

Billy Markus was quoted as:

Run a node if you want, or not. If you want to contribute to helping the network, you will need to be dedicated to running a full, reliable node, using significant bandwidth, and keeping it up to date. But for 1.14.4’s success, existing node operators need to update.

Markus emphasized that if existing node operators updated to the 1.14.1 release, that would be enough for the network to lower its transaction fees, and there is no need for new nodes to join the network for the same outcome. 

The development team behind Dogecoin is working on the Dogecoin-Ethereum bridge. Development is underway; no launch date has been announced yet. 

Justin Bennet, cryptocurrency analyst and founder of Crypocademy HQ, shared his bullish outlook on DOGE. The analyst has predicted a 500-1000% increase in DOGE price. 

Bennet has predicted that once the DOGE price crosses $0.24, it is primed to climb 500-1000%. 

FXStreet analysts have evaluated DOGE price trend and predicted 70% gains once the price crosses $0.25. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Largest DeFi exploit of 2022 wipes out $80 million from Qubit's Ethereum-BSC bridge

Ethereum-BSC bridge of Qubit Finance suffered a hack to the tune of $80 million in the largest DeFi exploit of 2022. Hackers exploited the "deposit" function to steal cryptocurrencies from Qubit Finance. 

More Ethereum News

Decentraland bulls go against the bearish trend, targeting $2.60

Decentraland (MANA) price has been on the front foot in a challenging market environment. MANA bulls look ready to eke out  28% of gains for this week after the price lifted from the 200-day Simple Moving Average (SMA) and is now set to pop and stay above the monthly S1 support level.

More Decentraland News

Charles Hoskinson awaits launch of Vaccuumlabs DEX on the Cardano network

Cardano network activity hit a peak with a spike in transactions on the network. Charles Hoskinson, the CEO of IOHK, is awaiting the launch of Vaccuumlab's DEX on the Cardano network. 

More Cardano News

Why Bitcoin has entered a new bear market

Bitcoin price has tumbled to a multi-month low below $33,000, as the leading cryptocurrency loses 50% of its value from its all-time high in November 2021. This marks the second-worst sell-off since the bear market that spanned from 2018 to 2020. 

More Bitcoin News

Bitcoin: Federal Reserve cannot tame BTC’s uptrend

Bitcoin experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed’s decision was announced. As losses have extended and Bitcoin has entered into the $30,000 zone, concerns regarding BTC being in a bear market have increased.

Read full analysis

BTC

ETH

XRP