One Backer Thinks Dogecoin Will Rise Higher

Dogecoin backers vary from pessimistic to extremely optimistic as the token stagnates around 17 cents after a precipitous fall from an all-time high of 74 cents in May. Currently, Dogecoin is trading marginally lower even though the global market cap for cryptocurrencies is ticking up slightly. Dogecoin bull David Gokhshtein of Gokhshtein Media said on Twitter ($TWTR@US) that Dogecoin should come back like NFT, noting that he’s “still in” on the token. Plus, a poster listed on Reddit calculated that Walmart ($WMT@US) could save over almost $22 million per day in transaction costs by transacting in Dogecoin. At press time, Dogecoin dropped nearly a percent to 16.96 cents, falling away from its 24-hour high on decreasing volume.