Did you know that Dogecoin is now being buzzed among great investors and traders and it could reach new milestones soon?
Though it was many times stated as a meme coin in the past, dogecoin is estimated to reach greater price values in the future. If you’re wondering whether you must start investing in them, read further to know amazing analysis and facts about dogecoin.
Within one month there were over a million visitors to the official website. Its price is $ 0.5127. 2 started as a joke. Today, the coin is over 5000% and expected to rise further by the end of this year.
Impressed by the currency’s growth and waiting to make an investment? But worried about what the future holds for Dogecoin? On a happy note, you have landed on the right place to get your queries answered. Read further to reveal the price trends and analysis.
According to some reports, the name Dogecoin is derived. It was just a meme when it was launched.
DOGE is a peer-to-peer, decentralized, and digital currency that allows you to send money online easily. It was forked from Litecoin in december 2013 and differs from Bitcoin’s proof-of-work in several ways.. 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.
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 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.
Predictions say that by the end of this year, Dogecoin may reach its maximum price figure to be at $0.4. Perhaps, the lowest price it might see this is approximated at $0.2. But the average price lies at a decent range near $0.34.
Dogecoin Price Prediction 2022
DOGE price might initiate the trade at $0.35 during 2022. If the DOGE manages to acquire the attention of marketers, the price could reach up to $0.52 by the end of 2022. On the contrary, if the price falls into the bearish trap, the price may eventually plunge harder and hit levels below $0.4.
Price Prediction For The Next 5 Years
In a 5-year time frame, Dogecoin is likely to reach a $0.75 mark as the year commences. It might reach a high of $0.98 by the next five years. However, if the coin does not sustain its surge, it may fall hard and reach a minimum of $0.7 as the year ends.
Dogecoin Market Prediction
According to Digitalcoinprice, Dogecoin’s price will rise in the coming years. It may trade within the $0.4687 by the end of 2021. By 2023, Dogecoin might trade around $06731 and by the end of 2025 the price may trade close to $1 at $0.9274.
According to WalletInvestor, Dogecoin is a good long-term investment. In subsequent years, Dogecoin will grow steadily within the $0.317 to $0.313 trading range in 2021.
According to Cryptonewz, Dogecoin price is expected to cross $0.5 by the end of 2021. However with an extreme bullish trend, the price may reach $0.6 and on the contrary, if the bears take over, then the price may close the yearly trade at $0.4.
Further by 2023, the price may reach $1 and attempt hard to maintain above these levels throughout 2024 by trading at $1.45 and eventually by 2025 witness a slight pull back and close the trade around $1.35.
Capital.com predicts that the price is expected to 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 upto $0.75 by 2025 and surpass $1 by 2026.
Our Dogecoin Predictions
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 bulls rally and it puts enough efforts to sustain the bearish movements. DOGE coin price may reach $0.45 by the end of this year. However, if the uptrends are held back the highest price it may reach might be $1.6 in the coming years. The average trading price may move near $1.4. But on the minimum end, the price may fall up to $1.25 in the future.
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.
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 2021?
Dogecoin has the potential to be a lucrative short-term investment.
Will Dogecoin DOGE Price Increase?
Dogecoin (DOGE) Price fluctuations depends on the fundamental analysis, technical analysis charts and expert price predictions and forecasts. However, nothing is certain in the cryptocurrency space.
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Dogecoin price with its multiple rallies of more than 100% in a day attracted many new investors and traders to the ecosystem. However, the price was shaken since the SNL snub and remained low-key until a fresh slump dragged the price below $0.2. So will the DOGE price still go to the Moon?
The cryptocurrency that began its journey as a joke or a meme, remained constant below one cent till the end of January 2021. Then something big happened, the DOGE price along with GameStop showcased an eye-catching rally. The value of DOGE shot up to 7.5 cents within a small time frame and slid down closer to 2 cents rapidly.
The meme token, Elon Musk tweeted about continuously, reached an all-time high in mid-April. The market capitalization also spiked, securing its place within the top 3. However, the dip that followed squeezed more than $60 billion. Since then, the price rallied very occasionally and the cryptocurreny may require little more time to go to the moon.
Dogecoin Price Analysis, What Is Awaited For The Currency Next!
The entire crypto space is trembling with the FUD probably due to some external factors which resulted in a serious drain. The Bitcoin prices were slashed along with most of the cryptocurrencies in the space. Dogecoin price too could not sustain the trembled situation and dipped profusely.
DOGE price currently is attempting very hard to sustain above $0.2 which appears to be a very tough job to accomplish. Despite the decline, the price tried to pull a leg up in the early trading hours but failed. The dip was so harsh that the RSI levels in the hourly chart dipped below 10. However, a little recovery again raised these levels above 40.
The trading volume also jumped notably and impressively the buying volume uplifted the price from the monthly lows around $0.16. Currently, at the press time, the dogecoin price is $0.2021 with a drop of 21.16% in the past 24 hours.
Currently, it is mandatory for the dogecoin price to sustain above $0.2 and head towards the resistance levels around $0.29. But if the dip continues, revisiting the lower support levels at $0.107 and later around $0.06 may be imminent. The indicators for the DOGE price point a sell signal, which is a little worrisome for the cryptocurrency right now.
Bitcoin plunged to a two-week low on Monday, falling as much as 11.4% to $31,735. The flagship crypto has been highly volatile, as it has dropped more than 20% in the last six days and is almost half the price of its April high of nearly $65,000.
The token’s price pattern on the charts has recently formed a death cross pattern. i.e, the crossing of BTC’s 50-day moving average below the 200-day moving average.
This infamous pattern has triggered a conversation amongst traders and analysts. While some consider it as a bearish indicator, some believe the prices will recover and surge higher than ever before.
Historically, Bitcoin’s formation of a death cross in March 2020 proved no hindrance to profits, as it rose two months later and formed a golden cross. However, a death cross in November 2019 resulted in the coin’s price falling a month later.
Popular analyst and trader Benjamin Cowen has weighed in on the death cross pattern. He believes that moving averages are lagging indicators that often tell us what we already know.
Cowen says Bitcoin will have lengthy bull cycles, and it is in for a long period of consolidation and range. The expert claims that he believes BTC Price will reach $100,000, but that it will take longer than most people think.
The analyst believes that now that the death cross is nearly complete, Bitcoin bulls can look forward to a probable “golden cross”.
“One nice thing about a death cross is that the next thing you can maybe look forward to is a future golden cross. Now, I don’t know how long it’ll take… We know that historically speaking, at least in recent years, it could take six months before we get above the 20-week [moving average] and then hold it as support.”
Not just Cowen, Popular analyst Plan B has also weighed in, He took to Twitter and pointed at the timelines of previous death crosses in Q4 2019 and Q1 2020 and what followed further.
Bitcoin always dominated the crypto markets and held the highest market share. Even at the beginning of 2021, Bitcoin owned a 71 % share of the crypto market, while altcoins (excluding those in top ten) had just 10%. But now the trend has changed. Since then, the percentage has steadily declined, with BTC’s dominance dropping to 40% in late May and altcoins rising to 23%.
Even the altcoins in the top ten have steadily increased their market share. The most notable one is Ethereum, which has continued to grow throughout the course of the year and currently owns over 17.3 %of the market.
Is an Altcoin season due to begin?
The above-stated stats regarding dominance is vital to question and know if an altcoin season will kickstart soon. Now, there is a probability of an alt season, if Bitcoin makes a bullish rebound. This positive reversal would occur if and when the coin continues to surge and maybe breaks through resistance levels.
Popular Analyst Chico Crypto in his recent Youtube video said Bitcoin is following the Wyckoff accumulation pattern. If the price gets back to $50k, it will be a confirmation that the bulls are back and alt season will be back again.
According to him, the breach needed for the altseason to arrive is predicted to happen around July 10 based on the Wyckoff pattern that is now forming. This would be the year’s first altseason.
Some cryptocurrencies have outperformed Bitcoin in terms of price growth and retail investor interest this year. Although the May crash halted their growth, an alt season will make up for it and even propel the tokens to new all-time highs.