Dogecoin was created in 2013 as a meme and reached an all-time high of $0.73 in 2021, with a market cap above $90 billion, but has since lost almost 90% of its value and traded at $0.08 as of Oct. 18. The author notes only 2,373 businesses accept it, so demand is weak. Developers are building DogeOS, an application layer compatible with the Ethereum virtual machine where app fees are paid in Dogecoin, which could create demand if the ecosystem grows. However, the author points out that developers can already build on Ethereum and that up to 5 billion new coins can be mined each year with no end date, diluting supply. The author concludes that $1 per coin is unlikely in 2027.
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Related tickers and likely impact
DOGE/USDT
• NeutralDogecoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Meme |
| Market cap | $12.4B |
| Close on 10/19/2026 | 0.07975 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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