By the end of February, Dogecoin price had more than doubled, rising from $0.08 to $0.18. “Dogecoin is unlikely to go to $1,” crypto analyst DonAlt said in a YouTube update on X, who has over 530K followers. 📈

DonAlt makes this prediction based on the way Dogecoin is trading against Bitcoin. Despite being the “poster child of extreme market exuberance” in the 2021 Bitcoin halving rally, Dogecoin is still a highly sought-after digital asset due to its social impact. 🐕

The proof-of-work (PoW) feature can help the cryptocurrency avoid being labeled as security and make it more decentralized than proof-of-stake DeFi cryptos. Doge, the original meme coin, has been performing well, especially when its dog-themed rivals rally.