Wallace Bets on $1 DOGE Before End of 2022
Matt Wallace, the Dogecoin influencer who runs the popular YouTube channel Final Stand, solely dedicated to covering the crypto, has placed a big bet on the price of DOGE hitting $1 before the end of 2022.
Wallace promised to delete his YouTube channel, one of Dogecoin’s largest communities on the internet, if the meme coin failed to hit the $1 mark. He tweeted;
Wallace started creating YouTube videos for Dogecoin in March 2018 and has amassed over 248,000 subscribers and 36.7 million views in the period.
Chances of Dogecoin Hitting $1
Dogecoin currently trades at $0.5808 despite opening the year at $0.17. Although the massive decline is not unique to DOGE, the memecoin would need to gain roughly 1,750% to hit the $1 mark by December.
The 24-hour price chart of Dogecoin (DOGE). Source: CoinMarketCap
Although Dogecoin appears to be miles away from Wallace’s prediction, Dogechain has launched its testnet to evolve the utility of Dogecoin and bring dApps and DeFi to the community.
The now-defunct Terra gained more than 10,000% as its dApp and DeFi ecosystem picked up traction in 2021. While there is a chance of DOGE at $1, it looks extremely slim given the current state of the crypto market.
On the Flipside
Why You Should Care
While Wallace’s claims seem implausible, if dApps and DeFi fully launch on the Dogecoin chain, it could be the turning point for Doge.
The Dogecoin network upgrade is covered below:
Dogecoin Prepares for System Upgrade Next Month
Another DOGE utility could be on the horizon in:
Will Dogecoin Become an Official Payment Method in California?
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Source: Cryptocurrency - investing.com
