The digital asset Dogecoin (DOGE) is currently sitting at 0.414 after closing the previous day at 0.331. It has continued to perform well since the beginning of the year, but there are a number of investors who think that Dogecoin has had its day.

What started out as just a joke and a way to mock other kinds of digital assets has now become a market force to pay attention to. Dogecoin is leading the way in gains for the crypto market, even overtaking Bitcoin in popularity for a short while.

Dogecoin Now and in the Future

Dogecoin recently hit the number four spot in popularity, a drop from just days ago. It has also seen a drop from its recent high point of $0.435, coming down by about 45%. This could be due to regulation from China for cryptocurrency across the board. Dogecoin has not been singled out, but it can feel the impact the hardest because it is considered to have no intrinsic value. Unlike many other forms of cryptocurrency, there is no limit as to how many Dogecoins can be produced.

Dogecoin may be following in the footsteps of another recent high performing crypto- XRP. In recent weeks, XRP (XRP) hit the top and then plummeted, which may be what will happen to Dogecoin soon.

Uncertainty in the Market

Investors have been talking about a speculator market and an investor bubble forming within cryptocurrency for months now. As cryptos have continued to perform well since the beginning of the year, they have also become increasingly volatile, and that could be a sign that the bubble is going to burst soon.

Dogecoin has proven to be one of the most volatile and unpredictable cryptos, especially this year as it has seen a number of sharp increases and drops. There was a major cryptocurrency selloff on Wednesday, which is fueling fresh fears that the market could be about to implode.

Fintech analyst Mark Palmer said yesterday in an interview with Yahoo! Finance that investors are likely to selloff their crypto gains around Tax Day, if recent years have been any indicator. He says that crypto is still in its “early innings”, even as Bitcoin (BTC) experienced a major drop, the lowest it has seen since the beginning of the year.