Dogecoin is currently pushing the boundaries in the current financial paradigm. We are providing you Dogecoin Price prediction for the next years so that you can find the best reasonable profit that you can get out of the coin. Investing in cryptocurrency, users have to do their research. In the deep drive analysis, we will talk about its origin, how it works, and the past price analysis. We shall answer one of the most anticipated questions related to making future investments. Let get started.
What is Dogecoin?
Dogecoin is a cryptocurrency mainly used by Reedit and Twitter users. It is also approved by a few hundred retailers worldwide as a payment form. You can purchase food, home supplies, and even domains on the website using their native token.
DOGE was developed to crack the stigma around cryptocurrencies, which at the time was negative. It also came as a reaction to Palmer’s opportunistic corruption in most of the cryptocurrency culture. As a result, Dogecoin was designed to unattractive investors by keeping the mining algorithm at the often low value.
The Origin of Dogecoin
Dogecoin originated as a joke between two engineers in 2013. When they successfully combined the two most powerful of 2013’s phenomena Bitcoin and “doge.” Both of the engineers were never met before in real life. As a result, Dogecoin was originated.
It was a currency that people began to use, much to both engineers’ surprise after it was released. In the first month of the Platform, over one million unique users went to dogecoin.com.
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How Dogecoin Works?
Dogecoin is a Luckycoin variant, a Litecoin fork itself and for those of you who don’t know, Litecoin is a fork of Bitcoin). The Blockchain of Dogecoin processes approximately 30 transactions per second (TPS). Every DOGE transaction costs approximately one cent of USD.
Shortly after the launch of Dogecoin, Dogecoin developers collaborated with digibyte developers to introduce the Digishield protocol to prevent Dogecoin from being a huge mining pool in any node. There was no ICO and no pre-mine for Dogecoin. Unlike several other cryptocurrencies, the purpose and architecture of Dogecoin are very simple and have been so since it was developed.
How does Market Cap and Volume affect the price of Cryptocurrencies?
The market cap and Volume are much correlated with the prices of every cryptocurrency. This is because a cryptocurrency’s market cap and volume more or less represents the long-term popularity of a coin. Large cap tokens are usually regarded as secure assets for cryptocurrencies.
Mid-cap cryptos are more competitive than large-cap cryptocurrencies but still possess much more growth ability. The current cap of BNB is $50,428,884,936 which is increased by 22.47% in last 24 hours following the price getting up with the same percentage. The current Volume of the coin is $31,460,728,587 which is increased by the same percentage is the Cap.
Elon Musk and Dogecoin Connection
Although Doge was started as a meme joke and the price improvements in the coin were not noticeable back then. Suddenly Dogecoin surges for instance after the founder of Tesla, Elon Musk tweeted about the coin. At that time the token rallied more than 30% according to the CoinMarketCap. This sudden surge made the Dogecoin to stand at 10th position in the crypto business.
The same happened again, when recently cryptocurrency exchange Coinbase debut in the market. His made many coin to skyrocket the prices. Although Doge is not listed on Coinbase, but still many users reported that they were unable to buy the coins from other exchanges because the apps were crashed due to the sudden surge of prices.
Dogecoin (DOGE) Past Price Analysis
On 17 December 2013, when Dogecoin was first listed, the price was $0.000255. One month ago, its values hit $0.002306 in January 2014, which was almost 10 times higher. It then rolled back strongly and for three years it was at its lowest level. In early June 2017, the DOGE peaked at a new high of $0.003575, with Bitcoin and the cryptocurrency market rising. Dogecoin’s pre-breakout support at $0.0008 on September 17th. On January 7, 2018, DOGE’s price was incredibly rising, smashing limits and hitting an all-time high of $0.018773.
Dogecoin Price Prediction 2021-2024 by TradingBeasts
According to the DOGE forecast by trading beasts, the price of the Dogecoin is likely to increase in the years to come. The Trading Beasts predicted that the price of Dogecoin in 2021 will trade at $0.4557. They plan to raise the exchange range to $0.4847-$0.5712 by 2022. By 2023, Dogecoin could continue to rise and set a price of $0.54321. It is expected that by 2024, the coin will be worth $0.0430.
DOGE Price Prediction 2021-2025 by Wallet Investor
Wallet Investor claims DOGE is a healthy investment in the long run. A price spike is predicted based on the Dogecoin forecast of the Wallet Investor. Dogecoin’s possible price is $0.352 for 2021, while it is expected that 2022 will end with a price Maximum price of $0.397. Dogecoin will rise slowly in the next few years but will take time to reciprocate.
In 2023, Dogecoin will be traded at an average price of $0.445 which is not much growth as compared to 2022. The maximum price for 2024 is predicated $0.496 with a minimum price of $0.467 and a maximum of $0.492. By December 2025, Dogecoin is expected to reach a value of $0.547 max. the average trading price will be $0.497.
Coinliker Dogecoin (DOGE) Price Prediction for 5 years
Coinliker gave Dogecoin for coming years the most optimistic price outlook. They expect that in only one year DOGE would hit $0.413. Dogecoin will continue to rise and will hit $0.99102 by 2025, which is tenfold in just five years.
Dogecoin Price Prediction 2025 and 2030
The long term forecast for DOGE shows that the price will reach long term price stability with a profitable investment opportunity. This means that the price of Dogecoin is estimated to be about $0.644 in 2025. In 2025, the projected lowest price will be $0.5281, while the expected peak price could be $0.70350. By 2030, it is estimated that the coin will reach the $2 – $4 mark easily.
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Our take on DOGE Price Prediction 2025
Dogecoin is expected to rise by around half a cent in the next month or two. Dogecoin has been embraced by dealers like eGifter, AllGamer.net, and hundreds of other online shops to pay for merchandise and services now. By using the probability and regression analysis, our take has predicted that the prices are expected to raise $1 by May 2022. The 1$ marks seem potential growth but it is looking hard to reach that top.
Where to buy Dogecoin (DOGE)?
If you are wondering where to buy DOGE coin then we will be able to help you in this regard. Dogecoin can be purchased from a wide variety of exchanges including Binance and Coinbase. These are only two of the most common and, while they are commonly considered reasonably secure, we strongly suggest users do their research. It should also be noticed that such exchanges limit the state, country, and overall location from which users can register.
Where to store Dogecoin?
Despite all reasons that it was launched as a meme coin, Dogecoin has still captivated the crypto community and this is the only reason how the coin has well maintained the higher market cap. If you have purchased the coin and looking for the best places to store your Dogecoin, then you have come to the right place. Below are the best wallets where you can store your Dogecoin without compromising the security.
- Ledger Nano S
- Trezor Devices
- Jaxx Wallet
- Dogecoin Paper Wallet
Dogecoin Price Prediction FAQs
What is the current price of Dogecoin?
The current price of Dogecoin (DOGE) is approximately $0.3926 which is equant to 0.000007383 BTC.
Will Dogecoin (DOGE) go up?
Assessing Dogecoin’s growth prospects, this crypto-currency provides a wide variety of possibilities. When a single Elon Musk tweet will result in a price spike of over 20 percent within a day, consider a more focused strategy that is more serious.
Can Dogecoin ever hit $1?
Dogecoin crypto has never hit 1$ but if it continues going up like this, it will definitely hit 1$ in upcoming years. It traded about $0.000232 in 2013 when it launched. During the last few days, with the price of Dogecoin rocking, the price has been going up considerably.
It cannot be underestimated that Dogecoin provides the benefits of a fixed higher inflation currency, making it a catchall phrase of the actual fiat currency of the world. These specific features encourage Dogecoin users not to profoundly stock the assets and focus on more liquidity since the currencies are regularly traded and consumed. As the market is getting competitive, a larger number of people are becoming aware of their investments.
As a lot of investments are pushing the crypto market investment, Dogecoin may see a surge in its prices anytime soon. Do you believe that by keeping Dogecoin safe in your wallet, you are making your future secure? Do you still have Dogecoin in your wallet? Tell us in the comment section below.
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