Price Prediction

Dogecoin Price Prediction- Will DOGE Mania Burst Price To $1 In 2021?

In today’s world where digital currency is gaining the place it demands, Bitcoin is the only crypto most people know. dogecoin was launched in December 2013, Popularly known as the meme coin. Read further to know everything about Dogecoin Price prediction for 2021 and beyond.

Dogecoin 2021 was in an overextended bull run powered by sheer volumes from day traders, institutional investors, celebrities, and DOGE whales.

Impressed by the currency’s growth and waiting to make an investment? But worried about what the future holds for this meme coin, why dogecoin is going up? Is dogecoin a good investment?

Here is a detailed study, stating the latest Dogecoin updates and price forecast.

Overview

CryptocurrencyDogecoin
TokenDOGE
Price$ 0.0000
Market cap$ 0.0000
Circulating Supply$ 0.0000
Trading Volume $ 0.0000
All time high$ 0.0000     January 1, 1970
All time low$ 0.0000     January 1, 1970

What is Dogecoin (DOGE)?

Following the massive success of bitcoin, dogecoin was launched in December 2013. Within one month there were over a million visitors to the official website. It started with a price of $ 0.006. Today, the coin has made over 5000% in 2021

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 anywhere in the world!

Fundamental Analysis

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. The 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.

DOGE was made to be user-friendly and it is now said to have a higher inflation rate. Dogecoins are inflationary coins while Bitcoins are deflationary coins, this is because Bitcoins have a limit on the number of coins that will be produced and used for mining. On the flip side, dogecoin does not have any such limits and so, is inflationary, which adds to its advantage.

Are you thinking about “should I buy dogecoin right now“? This guide provides all the details needed to avoid any pitfalls if you do decide to invest, and what the potential upside or downside may be.

Dogecoin Price Prediction 2021

On a bullish note, DOGE continued to trade at $0.007 during the start of 2021. Further, it maintained a consolidated trend until the mid of April. The altcoin traded at $0.34 when it entered May. Subsequently, Elon Musk’s appearance on the famous Comedy Show, SNL, and his tweet regarding the same coupled with the tagline ‘Dogefather’ set the price to surge by more than 15,000% from the start of the year to an all-time high of $0.74 on 8 May!

The meme-inspired cryptocurrency plunged to $0.22 on 19 May due to the market crash. The price continued to fall due to increased selling pressure, sliding to $0.25 on 23 May. On 2 June, it traded up to $0.44 but was unable to hold the gains and dropped back to $0.16 on 22 June. The meme coin rebounded to $0.29 on 25 June but then declined over the next month, returning to the $0.16 level on 20 July.

During the Q3, The price range tightened heading into September, with dogecoin trading between $0.19 and $0.21. Dogecoin price has been on a downward sloping consolidation since September 8 but broke out to the downside as of September 20, slicing through the $0.230 support floor.

is dogecoin dead? Let’s find out how will DOGE Price Perform in Q4. With the start of bullish UPtober, Dogecoin is showing signals that it may advance higher. Dogecoin appears to be breaking out after enduring a five-month-long consolidation period. 

Overall, the fact that the altcoin has a strong community base indicates that DOGE prices can reach new highs. On this note, the Dogecoin price may hit a Potential high of $0.974  by the end of 2021. On the downsides, DOGE has always been having a Pump and Dump scenario in space. If this or some external force impacts the meme token, the DOGE price may trade at a potential low of $0.201 by end of 2021.

Dogecoin Price Prediction 2022

If the altcoin closes this year hitting the highs, then 2022 might start bullish at $0.99. On the other hand, if a bearish trap engulfs, then the 2022 trade might resume at a similar trend at $0.21.

The fact that Dogecoin is easy to mine has always kept the altcoin on the front seat. Moreover, this year the most popular crypto exchanges like Gemini and eToro have listed DOGE, causing the price to soar. If the currency gets listed in other familiar exchanges in the coming year, DOGE price can soar again and strike at $2.382 by the end of 2022. However, considering the regular buying and selling pressures, the average Dogecoin price may be near $1.639.

On the other hand, the fact that the digital currency does not still have a great value drives a negative impact on Dogecoin. Many believe it is just to be speculation and if this belief remains unaltered, then the price can slump to $0.474.

5 Years Dogecoin Price Prediction

An increasing FOMO with Elon Musk towards Dogecoin may impact the price to heat up reaching a high of $7.833 in the next five years. Secondly, if DOGE could survive with a substantial growth rate in a highly competitive space in the future, the averages shall strike at $5.497.

On the other hand, in the coming years, if aspects of the crypto like Zero staking rewards and not much functionality impact the market, then its price may fall. Thus, on the downside, the potential low might be around $4.123.

DOGE Market prediction

Digitalcoinprice:

According to Digitalcoinprice, Dogecoin’s price will rise in the coming years. It may trade within $0.40682 by the end of 2021. By 2023,  The Meme Token might trade around $0.5482 and by the end of 2025, the price may trade close to $0.8049.

Tradingbeasts:

According to trading beasts, Doge is forecasted to hit a maximum price of $0.43355, minimum it would drop to $0.2948. The token is expected to trade at an average price of $0.34684. Tradingbeasts predicts DOGE to trade at an average price of  $0.3643 by 2024.

WalletInvestor:

As per walletinvestor predictions, Doge is forecasted to hit the maximum price of $0.362, minimum it would flip to $0.2410. The token is expected to trade at an average price of $0.3014. Walletinvestor anticipates doge to trade at an average price of  $1.116 And the maximum price expected is $1.385, minimum it would plunge back to $1.078 by 2025.

Capital.com:

Capital.com predicts that Dogecoin may trade within the same levels as $0.3 to $0.33 by the end of 2021. Following a slow and steady uptrend, the price may rise up to $0.75 by 2025 and surpass $1 by 2026.

Our Dogecoin Prediction

The fact that Marketers are quite optimistic about the project and celebrities hopping legs can drive Dogecoin into a value that everyone would awe at. 

According to Coinpedia’s formulated Dogecoin price prediction 2021, if its trading volume rises further (Note that it is already soaring), then we can expect the DOGE price to surge to $0.97 as the year ends.

on the other hand, if the market is hit by external forces like regulations or negative statements by influencers the meme coin might trade at a potential low of $0.20.

Using the table below understand what is possible in terms of highs and lows.

Year Potential High Potential Low
2021$0.974$0.201
2022$2.382$0.474
2025 $7.833$4.911

Also Read: Enjin coin price prediction: Will ENJ price reach $10 by the end of 2021?

Historic Market Sentiments

2013

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.

2014

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.

2015

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.

2017

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.

2018

 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.

2019

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.

2020

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.

Also Read: VeChain Price Prediction 2021 – Will The VET Price Hit $1 in 2021?

FAQ

Is Dogecoin a good investment?

Yes, Dogecoin might definitely be a good investment, if you are looking to invest for a long-term.

Will DOGE Price ever reach $1?

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.

Where to trade Dogecoin?

Dogecoin can be traded on exchanges like Binance, OKEx, HitBTC, Thodex, VCC Exchange and many more.

Is Dogecoin worth buying in 2021?

Dogecoin has the potential to be a lucrative short-term investment.

Will Dogecoin DOGE Price Increase?

Dogecoin (DOGE) Price fluctuations depend on the fundamental analysis, technical analysis charts, and expert price predictions and forecasts. However, nothing is certain in the cryptocurrency space.

Is dogecoin dead?

Dogecoin is not dead right now, the peaks and troughs are normal in the cryptocurrency industry, but it seems that crypto traders have moved on to the many Dogecoin imitators that have flooded the market in recent weeks.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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