BitBoy Crypto, a popular cryptocurrency YouTuber, admitted he was wrong about Dogecoin and underestimated its potential. He predicted that during this bull run, Dogecoin would reach 25 cents, but it has already exceeded that, reaching almost 43 cents earlier this week. BitBoy Crypto believes that Dogecoin’s value may be in bringing fun to crypto and unlocking a new generation into cryptocurrency with its use case as a bridge between kids and investing. However, he advises waiting for a correction to jump in while noting that DOGE could easily rally up to $1 by the end of this year’s bull run.
I Was Wrong About Dogecoin
Admitting to being wrong is never easy; it can be a bitter pill to swallow. In the case of Dogecoin, however, it seems that being wrong can be a good thing. After all, this is a cryptocurrency that has surprised everyone, including top crypto YouTubers like BitBoy Crypto, who must now question their status as reigning authorities in crypto.
BitSwap – Changing the Game
Before we discuss BitBoy Crypto’s surprising conclusion on Dogecoin, let’s take a moment to talk about BitSwap. This is a new and revolutionary way to trade tokens. BitSwap crawls all the top decentralized exchanges, guaranteeing the best possible price and value for your trades. If you haven’t tried it yet, check out bitswapdex.com.
Dogecoin Breaking Records
Back to the topic at hand: Dogecoin. BitBoy Crypto admits that he was wrong about the potential of the meme coin, and that a Tik Tok user under the age of 18 had been wiser than him in going all-in on Dogecoin.
Earlier this year, BitBoy Crypto predicted that Dogecoin had a realistic target of hitting 25¢ in the current bull run. Just a few months later, Dogecoin peaked at almost 43¢, surpassing even Chainlink, Litecoin, Uniswap, Polkadot, Cardano, and Tether.
The Power of the Elon Effect
How did Dogecoin manage to spike so high? Some of the credit goes to the “Elon Effect.” When Elon Musk tweeted about Dogecoin, the price started to rise. It spiked up 150% in just a few hours. This is a dramatic demonstration of the power of market psychology.
Despite its meme origins, Dogecoin is proving to have staying power. It is one of the oldest cryptocurrencies in the Top 20, and its longevity is even more remarkable because the original creator left the project and there has been almost no development on it for years.
The possibility exists that we have all been wrong about Dogecoin’s use case. BitBoy Crypto suggests that its value lies in bringing fun to crypto and unlocking a new generation into cryptocurrency. The use case could be as a bridge between kids and investing.
Join the Discussion
What do you think about Dogecoin? Is this finally its time for legitimization, or is this just another pump and dump? Let us know in the comments section below.