InformationPrice Prediction

Will Dogecoin Be a Good Investment in 2020?

Are you currently holding some Dogecoins and want to know what the future holds for the project? Or maybe you’re wondering what is the dogecoin future price prediction 2020? Either way, this Dogecoin [DOGE] price prediction  will cover all of your queries!

Advertisement

This Dogecoin price prediction will begin by briefly explaining what Dogecoin actually is. This will be followed by the future of Dogecoin.

What is Dogecoin?

Dogecoin is a peer-to-peer (P2P) open source cryptocurrency. It is classified as an altcoin and was founded in December 2013 with a Shibu Inus (Japanese dog) as its logo. Dogecoin appeared informal in its method but is gaining wide approval for online transactions.

It is a decentralized digital currency and uses P2P technology to accomplish its performances. Dogecoin is scrypt based (i.e. based on a password key) and facilitates quick payments to anyone, anywhere across the globe.

Dogecoin Price Today

DOGE is currently trading at $0.00264 after gaining around 3% within the last 24 hours. The top cryptocurrency was not left out of a bull market which began around 24 hours ago in which bitcoin has crossed the $10k mark. 

Dogecoin price seems to show correspondence to that of bitcoin in that it rises and falls with BTC. At the moment, dogecoin has a market capitalization of $329.68 million and over $196 million has been exchanged in volumes in the last day. 

FunFact about Dogecoin

Its most distinct feature, however, is its mascot. The developers of Dogecoin chose a “fun” approach towards its development. 

Dogecoin was created by Billy Markus, Oregon, and Jackson Palmer. It was introduced as a joke, but who knew it would become so significant in the crypto world. It is also used by retailers to receive payments.

Dogecoin Technical Analysis (2013-2019)

The crypto has been in circulation since 2013. It is a great achievement for any altcoin as most of them lose their luster within a short span. 

Dogecoin has enjoyed low trading in its infancy. As we can see, till July 2017; the altcoin was changing hands at a low rate. 

Dogecoin has experienced some instabilities through its years of experience. Starting out with an almost negligible price, dogecoin gathered some price gain in mid 2107 when the cryptocurrency spiked up towards $0.005 per coin.

Later 2017 the value of the coin declined slowly to $0.003 and continued to grow from there. 

 At the end of January 2018, Dogecoin reached a historical high of 2 cents its All-time High, and its capitalization exceeded one billion dollars. 

The coin took an interesting turn in January 2018. A couple of less significant peaks happened in July and December. At the start of 2019, the popularity was around the same level as it was in the same period of 2018, which is a major accomplishment in terms of the industry crisis, happening today. 

However, in 2019, the cryptocurrency traded sideways for most of the year. Around July of the year, a little bit of surge escorted the price back to around $0.004 but later lost most of this gains by the end of the 3rd quarter. Around late 2019, Dogecoin was back hovering at $0.003.

Dogecoin Price Prediction 2020

Dogecoin is likely to pick up, as people are realizing it’s worth and they are getting over it being a mere crypto joke. Further, The coin might touch the $0.02 mark, where the highest expected price is $0.0294 and the minimum expected price will be $0.0224.

Dogecoin is likely to reach a $0.04 mark. In short, It might reach $ 0.05 if it doesn’t come across any hurdles.

Few crypto analysts predicted that if one invests $1000 on DOGE today, then, in 24 hours, the pricing of his investment can be $987, in 7 days, it can be around $994, in 1 month, it can be approx. $777 and in 3 months it can be around $650.

DogeCoin Price Prediction 2021

Dogecoin is very popular in the industry. Though it started as a joke coin, it has managed to hold its ground. With the positive trend, DOge might be a good investment idea. Experts predict DOGECoin to reach Upto $0.00415230 USD by 2021.

DogeCoin Prediction Prediction (Next 5 years)

The technical analysis using the algorithm says that the price of Dogecoin (DOGE) will not decrease or fall or drop in the long term. Moreover, the coin may face turbulence, but the chances of a crash are less likely.

In the coming five years, the DOGE is predicted to reach $0.02 mark as per top industry experts.

Dogecoin Market Prediction

CryptoGround predicted that Dogecoin will reach $0.0032 by 2020.

The website WalletInvestor.com believes that Dogecoin will cost $0.00376 by 2020.

DigitalCoinPrice predicts dogecoin coin price will reach $0.00552 by the end of 2020.

Our Dogecoin Price Prediction

From the optimistic point, DOGE can reach $0.0121 after 5 years from now. According to technical analysts, the coin will definitely experience price fluctuations but, volatility will not impact this coin to a major extent. Hence, the assumption is that for a long term basis, DOGE can be a good investment.

What is your prediction on the Doge price? Share your thoughts on our Facebook and Twitter pages.

Dogecoin Recent Updates

1. Dogecoin all-set to shutdown IRC tipbot Doger

on March 31, 2020; the IRC tipbot Doger will be shutdown. The update won’t affect the coin price. Users cannot donate to the coin using this bot.

2. Dogecoin Added On Coinbase Wallet

Dogecoin is now a part of Coinbase Wallet. The wallet app is available on both Android and iOS. Also, the coin tied up with Trippki, which is a hotel booking site. We expect these positive developments to have a short term and medium term bearing on the coin.

Dogecoin is offering a reward of 1 DOGE for each verified account and moreover, they will donate 1000 DOGE to Grateful dog’s rescue.


3. Dogecoin Moons Due To Tiktok Challenge

Recently, about a week ago, some younger generations of Tiktok users started a life-long challenge to moon Dogecoin to $1. According to the challenge tagged ” Let’s all get rich”, these influencers are promoting Dogecoin with exclusive videos which in turn, are instigating drastic market traction. Within a span of one week, the coin has grown at around 85% and touched a record $0.0047 within the last day. 

FAQ

Is Dogecoin secure?

Dogecoin has a history of security lags since its launch.

What Is Dogecoin Worth?

As of today, one dogecoin amounts to [coins symbol=”DOGE”].

How is 2020 for Dogecoin price?

Dogecoin is most likely to go up in 2020 because of its high adoption rate.

Summary
Dogecoin price analysis - Will Dogecoin Be a Good Investment in 2020?
Article Name
Dogecoin price analysis - Will Dogecoin Be a Good Investment in 2020?
Description
we predict future values with technical analysis for wide selection of digital coins like Dogecoin. Check out the detailed Dogecoin price analysis
Author
Delma Wilson
Publisher Name
Coinpedia
Publisher Logo
Tags
Show More

Q D

QD club is a Bitcoin billionaire community of Crypto Analyst, News Writers, and Cryptocurrency Investors. It is a research-oriented club which is gently in the process of compiling reviews on MLM companies.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also
Close
Back to top button
Close
Close