The Dogecoin (DOGE) market has seen some setbacks following the latest price surge. The asset spiked to a high of $0.4775 earlier this month, which further led the community to bet on DOGE reaching $0.50 or higher. But now, Dogecoin has pulled back. The platform behind this meme coin may be trying to drive the price of the asset.
The Dogecoin Foundation is seeking sponsors, this is the reason
To further expand the community through network development, the Dogecoin Foundation has requested an undisclosed amount of funding. According to a post from the Dogecoin Foundation over the weekend, developers are seeking some key sponsors by 2025.
This aims to support financial initiatives to promote widespread adoption. These funds are said to be used for the development of Dogebox. This is a decentralized payment system designed to empower small and medium-sized enterprises.
“ By 2025, the Dogecoin Foundation will continue the open-source work we have been doing, especially through the new Dogebox decentralized infrastructure system (http://dogebox.dogecoin.org), which is the culmination of development across many projects and the means we envision to bring the first million retail merchants on board to accept Dogecoin as a direct payment layer. ”
Price Prediction
At the time of the press release, DOGE was trading at $0.4075 after a 4.40% drop in the past 24 hours. The asset is currently trading 44% lower than its all-time high of $0.7376. To reach $1, the OG meme coin must increase by 145%.
It seems that DOGE investors won't have to wait too long before celebrating the $1 milestone. According to data from CoinCodex, Dogecoin is expected to fluctuate in price range from $0.3377448 to $1.105322 by 2025. The OG meme coin is projected to trade at an average of $0.597832 throughout the year. With this coin expected to trade 171.22% higher than the current price, February could be the most optimistic month for DOGE.
