Dogecoinโs price has struggled to break past $0.22 due to several key factors. First, DOGE relies heavily on social media hype ๐ฑ rather than strong fundamentals, making it vulnerable to market sentiment shifts ๐. Its limited utility and lack of technological upgrades ๐ ๏ธ compared to other cryptos reduce its long-term appeal. Additionally, Dogecoinโs inflationary model adds around 5 billion new coins each year ๐ช, which pressures the price downward โฌ๏ธ.
High concentration among โwhalesโ ๐ and low institutional interest ๐ฆ further hinder price stability and growth. Regulatory uncertainties โ๏ธ also contribute to cautious investor behavior. For Dogecoin to surpass $0.22, it would likely need renewed demand ๐ฅ, wider adoption ๐, or technological improvements ๐.
