In today’s world where digital currency takes the place it demands, Bitcoin is the only crypto most people are familiar with. Dogecoin was launched in December 2013 and is popularly known as the meme coin. Read on to find out all about it Dogecoin price prediction for 2021 and beyond.
Dogecoin 2021 found itself in an exaggerated bull run fueled by the sheer volumes of day traders, institutional investors, celebrities and DOGE whales.
Impressed with the growth of the currency and waiting for an investment? But worried about what the future holds for this meme coin, Dogecoin is a good investment? Here is a detailed study with the latest Dogecoin updates and price predictions.
|Market capitalization||$ 27,731,496,739,0000|
|Circulation supply||$ 130.666.722.045.7410|
|Trading volume||$ 1,057,854,727,0000|
|All time high||0.7316 € May 8, 2021|
|All time low||$ 0,0001 May 6, 2015|
What is Dogecoin? (DOGS)?
After the great success of Bitcoin, Dogecoin was launched in December 2013. There were over a million visitors to the official website within a month. It started at a price of $ 0.006. Today the coin went over 5000% In 2021.
Dogecoin was developed by Billy Markus, Oregon, and Jackson Palmer. It was introduced as a joke, but who would have thought it would become so important in the crypto world. It is also used by retailers to receive payments anywhere in the world!
Dogecoin is an easy-to-use cryptocurrency project that started on December 6th, 2013. It uses its own blockchain and is widely supported by many wallets and exchanges. The main use case is making payments and recently it has also been used as a tip to reward small tokens given to people in social media interactions.
DOGE has been made user-friendly and 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 can be produced and used for mining. On the other hand, Dogecoin has no such limits and is therefore inflationary, which adds to its advantage.
Do you think of “should I buy Dogecoin now?“? This guide has all of the details needed to avoid any pitfalls when deciding to invest and what the potential pros or cons may be.
Dogecoin price prediction 2021
Visually, DOGE continued to trade at $ 0.007 in early 2021. In addition, it maintained a consolidated trend through mid-April. The altcoin was trading at $ 0.34 when it entered May. Then Elon Musk’s appearance on the famous comedy show, SNL, and his tweet about it, paired with the slogan ‘Co-father ‘ raise the price. That said, on May 8th, the price will go from $ 0.58 to $ 0.69 in a single day!
The meme-inspired cryptocurrency plunged to $ 0.22 on May 19, after rising more than 15,000% year-to-date to an all-time high of $ 0.74 on May 8. The coin made up some of its losses, hitting $ 0.43 by June 3. After DOGE fell to $ 0.31 on June 8, DOGE, along with BTC, ETH, and other altcoins, had shortly made up some of its losses attributable to news from El Salvador that BTC was officially legal tender is recognized.
Overall, the fact that the altcoin has a strong community base suggests that DOGE price may hit new highs. In this sense the Dogecoin price could hit a potential high of $ 0.974 by the end of 2021.
On the other hand, DOGE always had a plump-and-dump scenario in space. We can always assume that investors will sell all of their holdings after their target is reached. If this or an external force acts on the meme token, the The DOGE price could trade at a potential low of $ 0.201 by the end of 2021.
Dogecoin price prediction 2022
If the altcoin closes and hits highs this year, then 2022 could start at bullish $ 0.99. On the other hand, trading in 2022 could be with a similar trend. resumed when a bearish trap occurs $ 0.21.
The fact that Dogecoin is easy to get has always kept the altcoin in the front seat. Additionally, the most popular crypto exchanges like Gemini and eToro have DOGE listed this year, which has driven the price up. If the currency is listed on other well-known exchanges in the coming year, the The DOGE price may rise again and be at $ 2.382 by the end of 2022. However, if you consider the regular buying and selling pressure, The average Dogecoin price can be as high as $ 1.639.
On the other hand, the fact that the digital currency does not yet have great value has a negative effect on Dogecoin. Many believe that it is just a matter of speculation and if that belief remains unchanged, the price can collapse $ 0.474.
5 year Dogecoin price prediction
A rising FOMO with Elon Musk towards Dogecoin can affect the price and reach a high of $ 7,833 in the next five years. Second, if DOGE could survive in a highly competitive space with a significant growth rate in the future, the averages will be $ 5,497.
On the other hand, the price may drop in the years to come if aspects of cryptocurrency like zero staking rewards and not a lot of functionality affect the market. On the flip side, the potential low could be around $ 4.123.
What is the market saying?
Digital coin price
According to Digitalcoinprice, the price of Dogecoin will increase in the coming years. It could trade within $ 0.3589 by the end of 2021. By 2023, The Meme Token could trade at $ 0.5154, and by the end of 2025, the price could be close to $ 0.7102.
According to WalletInvestor, Dogecoin is a good long-term investment. In subsequent years, it will grow steadily within the trading range of $ 0.329 in 2021.
According to Cryptonewz, the Dogecoin price will exceed $ 1 by the end of 2021. However, on an extremely bullish trend, the price can hit $ 1.7 and, on the contrary, if the bears take over, the price can close the year trade at $ 0.91.
The price could reach $ 1.4 by 2023 and try to keep above that level for all of 2024 by trading at $ 1.7 and eventually closing trading around $ 1.96 by 2025.
Capital.com predicts Dogecoin could trade at the $ 0.3-0.33 level by the end of 2021. After a slow and steady upward trend, the price could rise to $ 0.75 by 2025 and exceed $ 1 by 2026.
Our Dogecoin prediction
The fact that marketers are fairly upbeat about the project and celebrities are jumping on their feet can propel Dogecoin into value anyone would be in awe of.
According to the Dogecoin price forecast 2021 formulated by Coinpedia, if the trading volume continues to increase (note that it has already skyrocketed), with the DOGE price rises to USD 0.97 at the end of the year.
On the other hand, if the market is influenced by external forces like regulation or negative statements from influencers, the meme coin could trade to a potential low of $ 0.20.
For a long-term forecast, the technological developments to improve the scaling function can lead to a DOGE price increase $ 7.83. But if the FUD rises among investors and the price moves into a volatile triangle, the altcoin could increase. traded $ 4.91.
Use the table below to understand what is possible in terms of highs and lows.
|year||High potential||Potential low|
|2021||$ 0.974||€ 0,201|
|2022||$ 2,382||$ 0.474|
|2025||$ 7,833||$ 4,911|
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Historical market sentiments
Dogecoin debuted at $ 0.0006 in December 2013 with a market cap of $ 3.5 million. For a year, Dogecoin was on an uptrend, doubling exponentially.
But 2014 wasn’t that good for Dogecoin, new cryptocurrencies hit the market like NEO, Stellar, and Monero, and traders turned to them. The price of DOGE fell to $ 0.0001.
Co-founder Jackson Palmer unexpectedly ended the project in 2015. He stated that he would rather focus on the technical aspects of the blockchain. With the news, the world began to talk about DOGE’s impending death, but it didn’t. DOGE managed to trade at $ 0.00014 by the end of December 2015.
However, Dogecoin didn’t cross the $ 0.0002 to $ 0.0003 price range until 2017. Still, consumers were buying coins for personal payments, and the capitalization of the altcoin steadily increased. Then the value of the coin rose dramatically to $ 0.003 in the spring of 2017 and continued to fluctuate. Surprisingly, DOGE rose to $ 0.007 in late 2017.
Many altcoins began to fall in price as early as early 2018 when several Southeast Asian countries began tightening government regulation in the cryptocurrency sector. Dogecoin was no different but it rebounded quickly to hit $ 0.017 and the price became stable. The price later dropped to $ 0.002 in April. By September the price had recovered slightly to $ 0.006. DOGE fell again to $ 0.002 at the end of 2018.
However, the altcoin traded sideways for much of the year in 2019. A small spike escorted the market price to around $ 0.004 in July, but later lost much of those returns by the end of the third quarter. Dogecoin was tied back at $ 0.003 at the end of 2019. At the end of December 2019, Dogecoin was trading at $ 0.0020.
Dogecoin continued trading at $ 0.002 in early January. With steady improvement, the price hit $ 0.003 by mid-February and continued to decline to $ 0.0015 by mid-March. With certain price fluctuations, Dogecoin hit $ 0.004 by July. DOGE started an uptrend as Bitcoin’s price rally expanded in November and continued trading at $ 0.003. Dogecoin ended 2020 at $ 0.004.
Also Read: VeChain Price Prediction 2021 – Will VET Price Reach $ 1 In 2021?
Is Dogecoin a Good Investment?
Yes, Dogecoin could definitely be a good investment if you’re looking to invest for the long term.
Will the DOGE price ever reach $ 1?
Some analysts believe Dogecoin is on a bull run and could hit $ 1 by the end of 2021. Now that more people are realizing the currency’s potential, there will be more buying tendencies, which in turn means a run to $ 1 is imminent.
Where can you trade Dogecoin?
Dogecoin can be traded on exchanges like Binance, OKEx, HitBTC, Thodex, VCC Exchange and many more.
Is it worth buying Dogecoin in 2021?
Dogecoin has the potential to be a lucrative short-term investment.
Will the price of Dogecoin DOGE go up?
Dogecoin (DOGE) price fluctuations depend on fundamental analysis, technical analysis charts, and expert price predictions and forecasts. However, nothing is safe in the cryptocurrency space.
Is Dogecoin Dead?
Dogecoin is not dead right now, the ups and downs 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 over the past few weeks.