Dogecoin was one of the cryptocurrency market’s standout performers in 2021. Peaking in May before gradually declining in the months that followed. Yet, there are still many reasons to be optimistic about Dogecoin’s future, with the developers eager to implement more use-cases to boost the coin’s value proposition. From being a mere joke to becoming part of the top 20 most traded coins of all times. Dogecoin is no doubt a favorite for every crypto enthusiast.
Due to a strange mix of speculation-based movements in Dogecoin’s price contrasted. Coupled with Elon Musk’s obsession with the token. Analysts and experts are still divided on Dogecoin’s long-term price prediction. The early months of the pandemic in 2021 also contributed to the upward trajectory of this meme coin. Making it one of the most held coins with 120,000,000 DOGE tokens in circulation.
For crypto traders skeptical about the current price of Dogecoin. This guide will discuss our Dogecoin price prediction for the coming months and years, as well as highlight potential opportunities for the coin and show you how to invest in DOGE today – with low trading fees.
Dogecoin Price Prediction 2022
Currently, the price of Dogecoin is $0.1603; which is a decrease from its initial all-time high value of $0.68883 in 2021. Despite the sluggish movement, experts predict Dogecoin’s future looks promising as several organizations are hoping to adopt DOGE as their mode of payment. Also, Dogecoin is still used (although rarely) for tips on social media platforms like Reddit and Twitter. Based on our study and views from cryptocurrency experts, here are our predictions for DOGE for the coming months, allowing get an idea of the possible potential it will have.
One month – Backed by current evidence, DOGE is less likely to make a move this coming month as a lot of cryptocurrency traders are bearish about the price chart. It wouldn’t be a surprise for DOGE to surpass the $0.2 price mark as giant media corporation, AMC and popular automobile company, Porsche recently announced they now receive DOGE as a form of payment.
Three months – If Dogecoin utilizes the newest internet clout, we should gleefully be heading towards the $0.30. However, if the latter happens, we may have to witness one of the greatest dips of all times as regards the coin’s price.
One year – The financial forecast shows Dogecoin would have surpassed the $3 and $4 price mark and would even be heading towards the $5 threshold. This will be beneficial for traders who HODL until then.
Dogecoin Price History – The Story of Dogecoin in its earlier years
Looking to buy Dogecoin as a newbie in cryptocurrency, then you must know the history of the coin and how it came to the limelight. Researching a coin’s history, development, and price chart is important as it serves as the foundation for any serious cryptocurrency investor. Proper research ensures you understand why you want to invest and also deters you from making poor investment choices as you can easily spot the red flags.
The creation of Dogecoin is centered on the infamous Shiba Inu dog’s meme. It was created as a joke in 2013 and thus named the joke cryptocurrency by many coin holders of the early 2010s. Surprisingly, this “joke cryptocurrency” now has a market value of over $1 billion, making it one of the most successful altcoins out there in the cryptocurrency market.
Dogecoin, developed by two software engineers, Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia. Inspired by the famous dog meme that has been in circulation on the internet for a long time. This meme was a female dog breed called the Shiba Inu or Kabo Chan, who was the internet’s most loved dog at that time and the word doge was from the popular incorrect spelling of dog that popularly hovered on Reddit and Twitter.
These two software engineers created this altcoin to mock the crypto market, its coins, price, fluctuation, and speculations that were being discussed actively in 2013.
This remained the fate of DOGE for a long time till it caught the attention of Elon Musk, Mark Cuban, and popular social media platforms like TikTok and Reddit. This internet effect gave dogecoin a real boost in the crypto market as it spiked people’s interests. Till today the internet is still credited as one of the factors that made dogecoin successful and the pandemic an accelerant to its adoption. Based on financial information provided by Yahoo, Dogecoin was launched in the late 2013’s and has grown sporadically to achieve a market capitalization value of over $35 billion.
In 2021, the price of Dogecoin rose steadily when a group of Reddit traders attempted to willingly raise the price of Dogecoin in an attempt to raise the price of stocks of heavily shorted companies like AMC and GameStop. On the forum called Cryptocurrency and SatoshiBets, individuals colluded to extract finances from Wall Street by cajoling people to buy Dogecoin. This action rose the price to more than 60 percent in just 24 hours from its initial price of one cent. Thereafter, DOGE experienced another 1,400% increase according to statistics from CoinMarketCap on the 28th of January, 2021.
Dogecoin rose sporadically in value as it first clinched the $0.10 price mark to $0.30, and $0.50. On April 20, 2021, Dogecoin achieved its highest price of $0.68883 before dumping to $0.30.
Throughout the later years of 2021 Dogecoin’s price has hovered between the $0.20 to $0.50 price mark. In May 2021, the price of DOGE fell to 79% off its initial price. There was another coordinated plan to push DOGE’s price to what it was once, but it failed. This led analysts to announce the bubble surrounding the price of Dogecoin had burst, forcing investors to focus their resources on other altcoins. The reduction led the market capitalization of Doge to reduce from $50 billion to $40 billion.
Dogecoin continued its fall till August 2021, when it started spiking again before falling to what we have today in 2022. Although Dogecoin is yet to surpass the $1.00 price mark, the cryptocurrency is still rated #12 on several exchange platforms. This proves that 60% of the token is still held by investors, proving a lot of people believe in the long-awaited Dogecoin rebound.
Dogecoin Price Forecast (Technical and Fundamental analysis)
As a budding investor, it is important to understand what an altcoin’s price history was, what it currently is, and what other experts predict it would be in the nearest future. This will help you decide whether such altcoin will bring in massive profits in the next 2 to 3 years or if it would be a total mishap to your portfolio. Before investing in Dogecoin, ensure you relate it to several technical and fundamental price analyses, gauge these analyses carefully, and study the driving factor (which in this case is the internet) before you arrive at an accurate forecast worth investing in. Although it is virtually impossible to understand the volatility of the market, research helps in avoid future problems as the present activities may help make or mar Dogecoin’s price. With that in mind, here is the technical and fundamental Dogecoin analysis that may help you carefully decide your next step.
If we use technical analysis to forecast DOGE’s performance for the first quarter of this year. The overall picture is bleak. DOGE’s total trading volume remains low, and while the RSI continues to fall (indicating that Dogecoin is becoming more undervalued), it appears unlikely that buyers will begin purchasing large amounts of DOGE until the overall crypto market sentiment changes.
This technical analysis is backed by the price chart of Dogecoin. In mid-2021, the price of Dogecoin hovered around $0.13 and $0.3 which is relatively lower than the $0.3 and $0.5 price marks of Dogecoin in the early months of 2021. Despite the speculative effort of investors, Dogecoin seems to have left the mid-2021 range into a much lower price mark than it was in December 2021 as it barely survives the $0.3 mark.
Today, Dogecoin has fallen below this price mark and has continuously tread the bearish path as it struggles to pass the $0.2. DOGE is performing poorly as it also fails to make the 50-day and 200-day EMAs set by experts. We are hoping for a bullish signal soon as it is the only bet for Dogecoin to break through the resistance and head towards the moon.
Overall, our DOGE prediction is optimistic as the news has favored the its adoption. More corporations are adopting Doge as a mode of payment and more social media platforms are beginning to accept Dogecoin as a mode of tipping. Redditors are also more likely to push for the moon which will benefit the coin, so we hope you are holding to the last shard of DOGE token you have and brace for a positive impact.
Asides from the monetary benefit, a major influence of what people go into cryptocurrency, people as put into the possible use case of these coins. Like Bitcoin, which was massively adopted because of the alternative ways of transactions one can enjoy, Dogecoin also enjoys this advantage.
Unlike the earlier years where Bitcoin and other cryptocurrencies were rejected as a form of payment, the newer years beg to differ as many corporations are now incorporating cryptocurrency into their business.
You can now use Dogecoin to pay for your movies, soda, and even popcorn in AMC movie stores as AMC stores in the United States now allows such. This advancement does not come as a surprise, as Dogecoin was a major driving force for the drastic increase in AMC’s stocks in 2021.
Also, Tesla and Porsche are setting up plans to allow people to pay for their high-end cars with Dogecoin. His man’s you can now easily cop the car if your rams with the Doge tokens in a wallet. Is there any better way to use your Dogecoins if you intend to dispose of them off? Yahoo Finance is in partnership with a dog walking app called Wag, which will accept Dogecoin as a form of payment. So why waste hundreds of dollars of fiat currency when you can easily transfer Dogecoin tokens to the dog walker.
In addition, Twitch and various social media and entertainment sites now accept people to pay or reward other uses with Dogecoin. The list of the real use case of Dogecoin is endless as it is slowly creeping up into our everyday finance and will replace fiat currencies in the nearest future. Moreover, the more real use cases arise, the better for DOGE’s adoption and price in the cryptocurrency market. This has no doubt reduced the skepticism future investors may harbor, concerning the use of their DOGE tokens in their wallets.
Dogecoin Price Prediction 2025 – Long Term Prospects
Will Doge go back up? What will Doge be worth in 2025? Many crypto investors are wary of the future of their dogecoins. This section will discuss the long-term outlook of Dogecoin in 2025. As of present, Doge stans are hoping the altcoin crossed the $1 market by 2025, which means it needs to achieve a 600% increase within the next 3 years.
Although this sounds plausible, it is doable as long as certain things are being implemented and/or changed. The price market shows Dogecoin has the range in trading as more people hold rather than transact as there are little use cases now. This stagnation has always left Doge holders wary as the price might break down causing loss or climb up, bringing gain. To ensure the price range become more sustainable and the momentum steadier, the needs to be an increase in Dogecoin transaction.
Getting Dogecoin is difficult as only a few numbers of cryptocurrency exchange platforms offer the DOGE token for sale. More so, the only available platforms are US-based as very few UK platforms enlist DOGE for sale. This is unlike Bitcoin which can be bought universally. To create a difference, Dogecoin should ensure it is listed by more European-based platforms to increase the token’s diversity and bring a more hands-on deck.
Right now, the major real use care of Dogecoin is tipping on Reddit and Twitch. Dogecoin needs a broad real use case like buying properties, food, and regular objects if we ever want to achieve the $1 price mark in 2025. Since Dogecoin is also one of the few environmentally friendly tokens in the cryptocurrency market, all these can be achieved and in no time we may see the $2 price market in 2030.
Dogecoin Price Chart
This Dogecoin prediction is solely based on factors affecting the past and present price of Dogecoin in the cryptocurrency. Based on the chart, May 2021 was an unfavorable month for Dogecoin as it fell drastically from its all-time high in April. This led to the speculations and analysis concerning the burst bubble of Dogecoin that diverted loads of investors to another altcoin. Then the price fell to $0.1600 which is still the current price Dogecoin givers around in 2022. Though very little, the price is still slightly above its initial value of $0.01 which leaves room for a possible rebound.
Dogecoin Price Prediction – Conclusion
In summary, Dogecoin is like every other altcoin that operates in volatility affected by several factors like social influence. The future of Dogecoin is uncertain as the predictions only show the likely future based on the present activities. This prediction does not accurately tell how high Dogecoin will rise or what Dogecoin will be in 5 years.