Dogecoin Price Prediction: Major Upgrade Proposal Could Change Everything for DOGE – $1 is Just the Beginning?

Dogecoin has fallen in the past 24 hours, down to $0.2591 as the crypto market struggles to maintain its recent upward momentum today. Even with this fall, DOGE has still grown strongly by 29% in a week and 69% in a month, while this meme token has also increased by 90% over the past year. And the positivity doesn't stop there, as a recent upgrade proposal – proof of stake for the Dogecoin blockchain – could further boost this token in the long run, making it more useful as a network. This new feature, which helps to increase the speed and scalability of Dogecoin, could attract more users to this token, indicating that the long-term price prediction for Dogecoin is very optimistic. Dogecoin Price Prediction: Major Upgrade Proposal Could Change Everything for DOGE – $1 Is Just the Beginning? Proposed by the MyDoge wallet development team, the proposal aims to upgrade Dogecoin Core so that it can verify proof of non-knowledge off-chain. In other words, this will make the Dogecoin blockchain compatible with zk-rollup, allowing the Dogecoin ecosystem to access the second layer, making this blockchain faster and cheaper.

If accepted, this upgrade could bring significant benefits to Dogecoin, providing greater privacy and scalability. In return, it could pave the way for the development of the entire ecosystem of applications based on DOGE, providing Dogecoin with the utility it has still lacked so far. There is still no confirmation that the validators will accept this proposal, but considering the positive reception from the community towards this potential update, it may just be a matter of time. And if given the green light, this will certainly have a huge positive impact on the price of Dogecoin, which is adjusting a bit today after a recent rise. As we can see from the one-week chart, the price is still close to the early stage of the upward trend, after breaking through the falling channel.

The relative strength index (yellow) of this coin is fluctuating around the level of 60 and has not yet reached overbought territory. Meanwhile, the MACD (orange, blue) is about to turn positive for the first time in months, which means the price will continue to rise. And if we receive confirmation that the Dogecoin validators will accept MyDoge's proposal, then the price of Dogecoin could easily reach new highs this year. Currently, the price is on track to reach $0.3 by the end of August, while it could end the year at around $0.5. This growth rate could be higher if the larger market continues to maintain the recent growth momentum, with the US stock market continuing to reach new highs in recent days and weeks.