The future of $DOGE depends on many aspects. First of all, it depends on whether people like it or not, and whether they are willing to buy it. Dogecoin is quite popular in the community, and when everyone's emotions are high, the price skyrockets. But one must also be cautious, as these emotions can change like the weather.
Next, let's talk about where it can be used. Some merchants now, like Tesla, have started accepting Dogecoin as payment. If more merchants follow suit, the actual utility of Dogecoin will increase, and demand will rise.
In terms of technology, Dogecoin lacks innovation compared to those big players like Bitcoin. But if the community or the development team can enhance Dogecoin, for example, by making transactions faster and energy consumption lower, it would be very attractive.
The overall environment is also very important. If the government starts to take action against cryptocurrencies, for example, by tightening regulations, Dogecoin's situation could become difficult.
In the short term, some experts believe that Dogecoin may continue to follow the trend, going up and down. But if one is considering long-term investment, then more thought is needed. Dogecoin has a large supply and relies on the community for support, so it may not be reliable in the long run. Therefore, some people believe that Dogecoin is okay for short-term trading, but long-term investment should be approached with caution.
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