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People tend to talk a lot about Bitcoin. It can be easy to forget that there are hundreds of other cryptocurrencies. Some of these cryptocurrencies may even attribute the similar features as the Bitcoin.
But cryptocurrencies are not just digital assets, they include their communities, too. One altcoin with a growing community is Dogecoin.
In this Dogecoin price prediction, we will start by explaining briefly what Dogecoin really is. This will be followed by its future and DOGE price for coming years.
|Market cap||$ 9,698,916,592.0000|
|Circulating Supply||$ 129,141,280,838.2590|
|Trading Volume||$ 4,921,005,574.0000|
|All time high||$ 0.0839 February 8, 2021|
|All time low||$ 0.0001 May 6, 2015|
Table of contents
What is Dogecoin?
Dogecoin is a peer-to-peer, decentralized, and digital currency that allows you to send money online easily. Dogecoin right from its launch has become very much significant in the crypto world. The Doge cryptocurrency is even used by retailers to accept payments. Its logo is a dog, which is their friendly mascot.
Dogecoin is a user-friendly cryptocurrency project launched on December 06, 2013. It uses its own blockchain and is widely supported by many wallets and Exchanges. Dogecoin’s main use case is for making payments and recently it has also been used as a tipping coin for rewarding small tokens to people during social media interactions.
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 (2013-2020)
Dogecoin made its debut in December 2013 at $0.0006 with a $3.5 million market capitalization. For a year, Dogecoin was on an upward trajectory and doubled exponentially.
But the year 2014 was not as good for Dogecoin, New cryptocurrencies emerged on the market, such as NEO, Stellar, and Monero, and traders turned their attention to them. DOGE’s price fell to $0.0001.
Co-founder Jackson Palmer quit the project unexpectedly in 2015. He explained that he preferred to concentrate on the technical aspects of the blockchain. With the news, the world began to speak of DOGE’s impending death, but this did not happen. DOGE managed to trade at $0.00014 by the end of December 2015.
Dogecoin, however, did not cross the $0.0002-0.0003 price range until 2017. Yet consumers purchased coins for personal payments, and the capitalization of the altcoin rose steadily. Then the value of the coin increased dramatically to $0.003 in the spring of 2017 and further continued to vary. Surprisingly, DOGE surged to $0.007 at the end of 2017.
Many altcoins started to decline in price already at the beginning of 2018, as several Southeast Asian countries began tightening state regulation on the cryptocurrency sector. Dogecoin was no different, but it recovered quickly to hit $0.017 and the price became steady. Later the price declined to $0.002 during April. The price slightly recovered to $0.006 by September. DOGE dropped again to $0.002 to end the year 2018.
The altcoin though traded sideways in 2019 for much of the year. A little bit of surge escorted the market price up to around $0.004 around July, but later lost much of these returns by the end of the third quarter. Dogecoin was back tethering at $0.003 in late 2019. At the end of December 2019 Dogecoin was trading at $0.0020.
Dogecoin continued its trade at $0.002 during the start of January. With a steady improvement, the price managed to reach $0.003 by mid of February and further declined to $0.0015 by mid-March. With certain price variations, Dogecoin hit $0.004 by July. DOGE started an upward trajectory as the expansion of Bitcoin’s price rally in November and carried on the trade at $0.003. Dogecoin ended the year 2020 at $0.004.
DogeCoin Price Prediction 2021
On a bullish note, DOGE continued to trade at $0.007 during the start of 2021. Dogecoin broke its previous price records and progressively hit an All-Time-High of $0.08 on February 08, 2021. It might compete with other peer cryptocurrencies by 2021 and might even go up in the ranking. Dogecoin might hit the highest level at $1 by the end of 2021.
Dogecoin Price Prediction 2022
Dogecoin might initiate the trade at $1.5 during 2022. If the DOGE manages to acquire the attention of marketers, the price could reach up to $5. The meme token may also hit $10 with the support of major well-known influencers.
DOGE Prediction For Next 5 years
In a 5-year time frame, Dogecoin is likely to reach a $20 mark. It might reach $50 also if it does not come across any turbulence. With certain developments and collaborations with other projects and with the influence of experts, Dogecoin might rise.
DOGE Market Prediction
Let us now consider Dogecoin predictions from distinct sources, which will give us a better idea:
- Zakaria M
Zakaria M, one of the eminent Steemit bloggers, claims that a single Dogecoin would be worth $1 in a time frame of 5 years. It was also added that $1 or even $10 a Doge is reasonable in five years with all other fiat currencies moving in and out of Doge.
According to TradingBeasts, Dogecoin’s price will rise in the coming years. It may trade within the $0.004 to $0.0063 in the year 2021. By 2023, Dogecoin might establish $0.005 as the lowest and $0.008 as the highest trading price.
According to WalletInvestor, Dogecoin is a good long-term investment. In subsequent years, Dogecoin will grow steadily within the $0.003 to $0.007 trading range.
According to Coinlinker, Dogecoin will keep growing and may reach $0.089169 by 2025.
Our Dogecoin Price Prediction
Dogecoin has been embraced by retailers such as eGifter, AllGamer.net, and hundreds of other online stores as a way of payment for products and services. Marketers are quite optimistic about the project. Dogecoin might rise if the traders focus on buying it. Dogecoin may trade at as high as $1 by the end of 2021.
Yes, Dogecoin might definitely be a good investment, if you are looking to invest for a long-term.
Some analysts believe that Dogecoin is on a bull run and could hit $1 by the end of 2021. Now that more people are seeing the potential in the currency, more will be inclined to purchase, which in turn means a run to $1 is imminent.
Dogecoin can be traded on exchanges like Binance, OKEx, HitBTC, Thodex, VCC Exchange and many more.