The Dogecoin price has dipped in the past 24 hours, falling to $0.2591 as the crypto market struggles to maintain recent momentum today.
Even with this drop, DOGE remains up by a healthy 29% in a week and by 69% in a month, with the meme token also boasting a 90% gain in the past year.
And the positivity doesn’t stop there, because a recent upgrade proposal – specifying zero-knowledge proofs for the Dogecoin blockchain – could help to boost the token even further over the longer term, making it more useful as a network.
This new feature, which would enhance Dogecoin’s speed and scalability, could drive more users to the token, something which points to a very bullish long-term Dogecoin price prediction.
Dogecoin Price Prediction: Major Upgrade Proposal Could Change Everything for DOGE – $1 Just the Beginning?
Put forward by the team behind the MyDoge wallet, the proposal would upgrade Dogecoin Core such that it could verify off-chain zero-knowledge proofs.
In other words, it would make the Dogecoin blockchain compatible with zk-rollups, giving the Dogecoin ecosystem access to layer-twos that could make it faster and cheaper.
If accepted, this upgrade could prove massive for Dogecoin, providing it with greater privacy and greater scalability.
In turn, it could pave the way for the development of a whole ecosystem of DOGE-based apps, giving Dogecoin the utility it has mostly lacked up until now.
There’s still no confirmation that validators will accept the proposal, but given the community’s positive reception to the potential update, it could be only a matter of time.
And if it does get the green light, it will no doubt have a hugely positive impact on the Dogecoin price, which is correcting a little today after recent gains.
As we can see from its one-week chart, it remains near the beginning of an upswing, having recently broken through of a descending channel.
Source: TradingViewIts relative strength index (yellow) is hovering around the 60 mark, and has yet to reach an overbought position.
Meanwhile, its MACD (orange, blue) is about to turn positive for the first time in several months, meaning that more gains should be on the way.
And if we do receive confirmation that Dogecoin’s validators will accept MyDoge’s proposal, then the Dogecoin price could easily reach new highs for the year.
It’s currently on track to hit $0.3 by the end of August, while it could end the year at around $0.5.
Such gains could be higher if the wider market extends its recent gains, with US stock markets continuing to hit new highs in recent days and weeks.
AI Content Creation Platform SUBBD Raises $850,000 in Token Presale: Next 100x Alt?
For traders looking to diversify beyond major tokens such as Dogecoin, there are many promising newer coins in the market right now, including a handful of presale tokens.
One of the most interesting of these is Subbd (SUBBD), an ERC-20 token that has now raised just over $850,000 in its ICO.
What’s bullish about SUBBD is that it will be the native token for the Subbd platform, which is an AI-powered adult content creation site that puts more control in the hands of creators.
Its harnessing of artificial intelligence means that creators can create AI-powered influencers and performers at the click of only a few buttons, while the use of crypto means that payment will be fair and transparent.
One of the most encouraging things about SUBBD is that its native platform has already launched, with the website boasting that its influencers/performers have a combined following of over 250 million.
This means that SUBBD is launching into an already healthy ecosystem, giving it a head start over many other new tokens.
Investors can join its presale by going to the Subbd website and connecting a compatible crypto wallet.
SUBBD is currently available for $0.055975, although this price will rise again later today.
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