Dogecoin has continued to establish itself as one of the leading cryptocurrencies despite starting as a memecoin in 2020. Based on its recent success, despite the crypto market’s poor conditions, Bitbank announced plans to list the dog-themed token on its platform.
The leading crypto platform in Japan took to Twitter to announce the addition of two new assets, Dogecoin (DOGE) and Polkadot (DOT). Therefore, users and businesses can invest and transact with the latest tokens on its platform.
Including the assets above, Bitbank harbours a total of 18 cryptocurrencies. The exchange, in a blog publication, said:
“….we will start accepting applications for Polkadot (DOT) and Dogecoin (DOGE) for “Lending for Interest” as well.”
In addition, the exchange is reportedly offering a “Zero Trading Fee Campaign” for DOT/JPY and DOGE/JPY trading pairs. This, however, ends at 11:59 AM on September 2, 2022 [JST].
Experts Believe Dogecoin Will Lose Value
Despite being the tenth most valuable digital asset according to CoinMarketCap, many analysts are expecting the memecoin to sink towards zero. This development came when DOGE failed to hit $1 even with the massive hype from GenZ and Tesla’s CEO Elon Musk.
Interestingly, the popular memecoin’s status did nothing to push the price up. While the members of the Doge community continue to remain positive, the majority of a panel of 54 industry experts believe otherwise.
When asked if DOGE would be stripped of its value, 55% of the panel suggested that it would occur sometime in the future.
As seen in the above chart, only 3% believed it would occur this year. However, 12% of the panel was inclined towards 2023, and 30% predicted that DOGE would sink to zero only in 2025 or later.
A dainty 21% assumed that DOGE would bounce bank. The remaining 24% were unsure about the altcoin dropping to zero.
Will the community let the asset go so low? Regarding popularity, DOGE has remained under the crypto spotlight for quite a while. In addition to its increasing adoption rate, it helps snag many holders throughout the bear market.
The foreseen listing and 4,385,930 holder count are unlikely to push Dogecoin down to zero.