Benzinga | Oct 1, 2021 08:36AM EDT

Dogecoin Headed For 40 Cents, But Not Yet: Expert Weighs In

Dogecoin's (CRYPTO: DOGE) price is headed much higher, according to Yaron Schwarcz, a Bitcoin (CRYPTO: BTC) maximalist who is the co-founder of robotics firm Skyline Robotics. The comments follow a recent analysis suggesting that Dogecoin could skyrocket next month.

What Happened: In an exclusive comment shared with Benzinga, Schwarcz expects Dogecoin to hit $0.40 by the end-of-year due to a bullish run-up resulting from the September bear market. Still, he believes that before reaching this price the coin could drop to $0.17 before this next run.

See Also: IS DOGECOIN A GOOD INVESTMENT?

Schwarcz sees "a convergence of positive movement" spurred by the partnership between BitPay Inc. and Verifone Inc. that will allow crypto payments in fast-food restaurants and stores, as well as AMC Entertainment Holdings Inc (NYSE:AMC) chairman and CEO Adam Aron suggesting Dogecoin support. Schwarcz concluded "physical world usability" will increase Dogecoin's price. The comments also follow recent reports that Dogecoin adoption is climbing much faster than ever.

DOGE Price Action: According to CoinMarketCap data, as of press time Thursday Dogecoin is trading at $0.2027 after gaining about 0.9% of value over the last 24 hours.

Photo by Patr?cia Hellinger on Unsplash