The past few months haven't been the best for cryptocurrencies, as the market value of the asset class has dropped by roughly a third since November and now sits at about $2 trillion. Investors are taking a risk-off approach to their portfolios, something we've generally seen in the stock market as well.
Within the realm of digital assets, popular meme coin Dogecoin (CRYPTO: DOGE) has experienced a dramatic price crash after it hit an all-time high of just under $0.74 last May. The dog-inspired token is now trading hands at about $0.13, which could be an attractive entry point for speculators who think it could skyrocket.
But I'm here to temper your expectations. Let's dive into three key reasons why I believe Dogecoin will not reach $1 per token.
Source Fool.com