• The Bitcoin Spark presale has gained traction due to a massive inflow of Dogecoin investments.
• There are reasons to believe that Dogecoin could go back up, but it is unlikely to hit the $1 mark.
• Bitcoin Spark has similarities with Bitcoin (BTC) and various upgrades to improve efficiency, scalability, and real-world applicability.
Dogecoin Could Go Back Up
Dogecoin (DOGE) has an active community of supporters who show their commitment to the coin. Additionally, Dogecoin’s low transaction fees and fast transaction times make it a viable option for everyday transactions which could lead to increased adoption in a favourable crypto market. Moreover, continued endorsements from celebrities could increase its popularity and subsequently its value. Nonetheless, for Dogecoin to sustain and amplify this resurgence it requires significant developments to extend its utility beyond P2P transactions.
Will It Reach $1?
Despite having the potential to recover, Dogecoin (DOGE) is unlikely to hit the $1 mark. This is because DOGE would require a rally of around 1400% to reach $1; while it has skyrocketed by much more than this in the past, its now large supply and market cap make such high percentage changes nearly impossible. Additionally, Dogecoin has no maximum supply and 10,000 new tokens are created every minute so demand has to rise faster than supply for it reach $1 which seems highly unlikely with no reason own besides the hope that its price will quickly surge.
What Is Bitcoin Spark?
Bitcoin Spark has been revered by the crypto community because of its ability build on Satoshi Nakamoto’s vision with improvements such as reduced block time and larger number of nodes which will allow for faster transaction speeds while maintaining low transaction costs as well as enable smart contract development on top of it all..
Why Is Its Presale Gaining Traction?
The Bitcoin Spark presale started on August 1st and caught the attention of crypto enthusiasts investors due to its promise of being able realize Nakamoto’s vision alongside technical upgrades which include reduced block times massive number of nodes allowing for faster transaction speeds while maintaining low transaction costs plus enabling smart contract development .
Massive Inflow Of DOGE
On-chain data reveals a massive inflow DOGE investments into Bitcoin Spark presale indicating that many investors have faith in project proving successful long-term investment .