Dogecoin (DOGE) was one of the top cryptocurrency performers in 2021. It was Dogecoin that triggered the meme coin rally that peaked in November 2021. With this in mind, how high can Dogecoin go? Is DOGE a good investment?
Before trying to figure out how high Dogecoin can go, let's first find out Dogecoin's current standing in the market.
Based on experts' Dogecoin price prediction, DOGE, the meme coin, could hit $0.30 in 2022 and possibly reach $0.50 by the end of 2023, and $0.77 by 2025.
This guide has covered analysts' expectations on Dogecoin price predictions for 2022 to 2030.
Virtual currencies are highly volatile. Your capital is at risk.
DOGE/USD is expected to perform well in the foreseeable future. Here are some of the highs analysts have expected for Dogecoin to test in the decade.
Dogecoin is a meme coin with some exciting beginnings. It was created as a joke to satirize the explosion of all manner of cryptocurrencies in the 2010s. In fact, the creators of Dogecoin didn't mean for this joke cryptocurrency to become so popular. However, it has gained such a strong community and become one of the most successful cryptocurrencies ever created.
Dogecoin runs on a Proof-of-Work algorithm, just like Bitcoin. Anyone can mine Dogecoin, and you don't need sophisticated equipment. Currently, there is 130 billion DOGE in circulation, and 10k DOGE enters circulation every minute.
One of the most exciting aspects of Dogecoin is that, unlike most meme coins, it has its blockchain. Dogecoin is now considered one of the best cryptocurrencies.
Dogecoin launched in 2013, and since then, it has followed a pretty similar price action to the rest of the market. It has been going up and down with the broader market bull and bear cycles. However, in 2021, Dogecoin made the most significant price move, which brought it to the fore as top cryptocurrency investment.
After the Bitcoin halved in 2020, the cryptocurrency market started to rally, and Dogecoin started gaining upside momentum. As the bull started gaining momentum, Elon Musk, who happens to be one of the most influential figures in cryptocurrency, started tweeting about Dogecoin, adding to its momentum relative to the broader market.
By January 2021, Dogecoin was in a full-blown bull market and peaked at a high of $0.73 in May 2021. However, after the broader market correction that started in May 2021 and lasted until July, Dogecoin never recovered to its all-time highs of $0.73.
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So, will Dogecoin go up in 2022 or anytime in the foreseeable future? Most analysts on the internet believe that it will rise.
To better understand where Dogecoin could go next, let's look at Dogecoin price predictions by different analysts across the internet.
Analysts at Coin Price Forecast are strongly bullish on Dogecoin both short term and long term.
Here is their prediction for 2022 to 2023.
Dogecoin price started in 2022 at $0.1719. Today, Dogecoin traded at $0.1127, so the price decreased by -34% from the beginning of the year. The forecasted Dogecoin price at the end of 2022 is $0.18 – and the year-to-year change is +5%. The rise from today to year-end: +60%. In the middle of 2022, we expect to see $0.17 per 1 Dogecoin. In the first half of 2023, the Dogecoin price will climb to $0.19; in the second half, the price will add $0.00 and close the year at $0.19, which is +69% higher than the current price.
For 2030, the analysts have this Dogecoin price prediction,
In this period, the Dogecoin price would rise from $0.50 to $0.52, +4%. Dogecoin will start 2029 at $0.50, then dip to $0.45 within the first half of the year, and finish 2029 at $0.48. It is about +179% from today's price.
Analysts at WalletInvestor are strongly bullish on their Dogecoin price predictions, both short-term and long-term. In 2022, Wallet Investor expects Dogecoin to test a high of $0.199.
In the next 5-years, Wallet Investor's price prediction is $0.630. Quite bullish considering that Dogecoin is currently trading at $0.08.
Trading Beasts are moderately bullish on Dogecoin short term but strongly bullish in the long run. Per their Dogecoin price prediction, Trading Beasts expects Dogecoin to end 2022 higher by 34.98%, with a potential high of $0.1445.
Long term, Trading Beasts Dogecoin's price prediction is $0.237, or an increase of 121.34%.
Coinskid is moderately bullish on Dogecoin in the short term. Below is their Dogecoin price prediction for 2022.
At the start of December 2022, the price will be around $0.1533. A Maximum price of $0.1671 minimum price of $0.1273 for December 2022. The average Dogecoin price for December 2022 is $0.1472. Dogecoin's price forecast at the end of December 2022 is $0.1533, a change for December 2022 by 15%.
Long term, Coinskid analysts are strongly bullish on Dogecoin. They believe that by 2026, Dogecoin could test a high of $0.4206.
ICOcreed doesn't expect Dogecoin to gain much in price in 2022. In their Dogecoin price forecast for the year, they say,
According to our forecast, in 2022, the price of Dogecoin is expected to reach a minimum price level of $0.083. The DOGE price can reach a maximum value of $0.094 with an average trading price of $0.091.
However, they have one of the most bullish Dogecoin price predictions long-term.
The price of Dogecoin is expected to reach a minimum value of $2.03 in 2030. The Dogecoin price could get to a maximum value of $2.37 with the average trading price of $2.10 throughout 2030.
Gov Capital analysts are slightly bearish on Dogecoin in the short term. Based on their Dogecoin price prediction, these analysts expect DOGE to close the year at $0.054. That's slightly lower than Dogecoin's current price of $0.08.
However, going into the future, Gov Capital analysts are strongly bullish on Dogecoin. They expect DOGE to hit $1.049 by mid-2027.
Digital Coin Price analysts are moderately bullish on Dogecoin short term. According to them,
The DOGE price prediction for December 2022 is $0.10, including the $0.11, and the Maximum price will be $0.13.
Digital Coin Price analysts are also bullish on Dogecoin long term as seen in their Doge price prediction for 2030.
In December 2030: The price of Dogecoin is predicted to reach a minimum worth of $0.38 in 2030 and a maximum level of $0.42. The average includes an average trading price of $0.40 throughout 2030.
Coinpedia expects Dogecoin to be moderately bullish in 2022 and end the year at around $0.196. However, they also believe that if the market remains bearish, Dogecoin could end the year at around $0.10.
Virtual currencies are highly volatile. Your capital is at risk.
The consensus is that Dogecoin is likely to do much better longer-term compared to 2022. Based on Dogecoin price prediction, DOGE is to trade at $0.30 by the end of 2022, $0.77 by 2025, and $1 by 2030.
While Dogecoin's past price action is a factor to consider when analyzing its price potential, it is also essential to be aware of the market factors likely to play a role in its price action.
Understanding the factors that drive the price of Dogecoin can help answer the question, 'is Dogecoin a good investment?'
One of the most important factors likely to impact the price of Dogecoin going forward is Bitcoin. Bitcoin is the number one cryptocurrency and tends to pull the market in its overall direction. For context, other factors played a role in Dogecoin's rally in 2020/21. For instance, Bitcoin's rally from $20k to $64k had the most significant role. Proof of this is that Dogecoin had a correction after the Bitcoin bear run started in May 2021.
The other factor likely to play a role in Dogecoin's price action going forward is Elon Musk. Musk has been one of the essential pillars of Dogecoin's price action over the last two years. Besides his tweets creating excitement in the community, ELON has pushed hard for Dogecoin's adoption. He has been leading from the front on Dogecoin adoption. His company, Tesla, now accepts Dogecoin for some of its merchandise.
Then there is the issue of cryptocurrency prices. Bitcoin and Ethereum are considered cryptocurrency blue chips. However, these two are now out of reach for many small investors. For instance, while someone can buy $100 worth of Bitcoin, the amount of BTC they get is negligible when you factor in fees.
For this reason, small investors have been looking into cheaper cryptocurrencies to buy now for maximum profits. Dogecoin is one of the cheapest, and with just $100, you can get a sizable portion of Dogecoins. You can also expect a significant ROI if the price hits some of the analysts' long-term projections.
Another factor likely to play into Dogecoin's value going into the future is its high levels of decentralization. If there is anything the Terra event has shown investors, it is that true decentralization is the way to go. Dogecoin happens to be one of the most decentralized cryptocurrencies out there. It is easy to mine, and hundreds of thousands of PC owners worldwide mine DOGE. This makes it a secure network, an attractive feature for long-term cryptocurrency investors.
It is also noteworthy that the Dogecoin community is on a growth trajectory. This is a big deal because as the community expands, so does awareness about Dogecoin. In future cryptocurrency hype cycles, Dogecoin is likely to draw in more new investors, which is good for its long-term price appreciation.
With this in mind, let's now look at Dogecoin (DOGE) price predictions for 2022 and 2030.
Virtual currencies are highly volatile. Your capital is at risk.
With the financial markets, including crypto, finally stabilizing on the expectation of peak inflation, Dogecoin prospects start to look up in 2022. The drop in H1 of 2022 has created massive opportunities for long-term investors. If the cryptocurrency market gains upside and momentum returns due to investors buying the dip, Dogecoin could likely end the year at $0.30 or more.
The worst of the 2022 bear market is over, and the market is looking up. Dogecoin adoption continues to rise, and with Elon Musk taking over Twitter, he has more freedom to promote Dogecoin to his followers, further creating hype around Dogecoin. However, after the bear market in 2022, volumes are still below peak levels. Dogecoin could just edge a little higher in 2023 and end the year at $0.40.
2024 is the year when the next Bitcoin halving takes place. As with all previous Bitcoin halving, this could mark the beginnings of the next cryptocurrency bull cycle. At this point, Dogecoin is also at much higher levels compared to 2022. The result is that Dogecoin could push past $0.50. Our Dogecoin price prediction by the end of 2024 is $0.60, with a possible high of $0.65.
If you are still stuck with the question, 'should I invest in Dogecoin?' then it could be worth considering, But remember that analysts have been wrong in their previous expectations.
If you believe in long-term investing, read on for Dogecoin price prediction for 2025 to 2030.
By 2025, many good things will be happening in the cryptocurrency market. For instance, regulations are clear, which means there is confidence in the market, both at the retail and institutional levels will be at its highest. Also, since the market tends to peak out one year after the Bitcoin halving, Dogecoin could see a surge in value in 2025 and test $0.77.
Virtual currencies are highly volatile. Your capital is at risk.
After the correction of 2026, the market starts to recover in 2027, albeit with low volumes. Adoption will continue to grow, though, which will put upside pressure on the price of Dogecoin. Based on these factors, Dogecoin price prediction for 2027 is a consolidation between $0.55 and $0.60.
At this point, blockchain technology is widely adopted in every industry. Dogecoin is used all over the internet as a means for everyday payments, as Bitcoin gains acceptance as a store of value. This market maturity could see Dogecoin hit $1 and push through it in the years ahead.
Dogecoin is designed to be a currency of the internet. Due to its price and low fees, it can be used to make micropayments. With digital payments taking root on the internet, Dogecoin, for its huge recognition, stands to gain the most as digital payments take root.
Other benefits to Dogecoin are:
Dogecoin was the brainchild of two software engineers, Jack Palmer and Billy Markus. The two created Dogecoin to satirize the cryptocurrency market and how new coins were popping up every day.
Dogecoin remained a non-entity in crypto until 2020 when Elon Musk took note of it. Since Musk took an interest in Dogecoin, the developer team that had long abandoned Dogecoin came back and has been working on updating the Dogecoin core software.
Virtual currencies are highly volatile. Your capital is at risk.
Dogecoin is a Proof-of-Work cryptocurrency, just like Bitcoin. However, unlike Bitcoin, Dogecoin uses the Scrypt Hashing Algorithm, which requires less hashing power. This makes it easy to mine Dogecoin even with a PC.
Dogecoin is one of the most adopted cryptocurrencies in the market today. There are 4-million Dogecoin wallets, and the numbers are growing.
As more people mine Dogecoin, the more decentralized it will get, and the higher the intrinsic value of Dogecoin will go. That's because the whole essence of blockchain technology is decentralization.
While Dogecoin has its risks, there are many reasons why experts are bullish on the meme coin. There is a lot of potential in the digital payments space. As such, cryptocurrencies that facilitate micropayments have a bright future ahead. For this reason, Dogecoin has the potential to keep growing in popularity going into the future.
Even if you use experts' price predictions to make your investment decisions, it is best to understand that Dogecoin is a risky asset. It is best only to invest what you can afford to lose.
Virtual currencies are highly volatile. Your capital is at risk.
In order for Doge to hit the $1 mark, Dogecoin needs to add valuable use cases to attract investors. Given the growing adoption of Dogecoin and overall growth in the cryptocurrency market, Some analysts expect Dogecoin to reach $1 in the next 7 years at the earliest.
Since it hit the market, Dogecoin has proven itself a worthwhile investment. For years, Dogecoin was just another cryptocurrency in the market. Since 2020 when Elon Musk started hyping it up, Dogecoin has emerged as one of the most sought after in the cryptocurrency market today.
Given that Dogecoin is trading at over 70% off its all-time highs, there is a chance that it is undervalued. The possibility that the entire cryptocurrency market may be close to the bottom adds to the bullish DOGE price prediction.
Dogecoin was, without a doubt, a profitable investment. In 2020/21 alone, Dogecoin had an ROI of 11,000%.
You can buy Dogecoin through cryptocurrency exchanges. Based on market experience, Coinbase or eToro are among the best places to buy Dogecoin.
Virtual currencies are highly volatile. Your capital is at risk.
What Will DOGE Be Worth in 5-Years?
Based on Dogecoin price prediction, over 20 analysts have expected Dogecoin to be trading around $0.77-$0.85 in the next 5-years.
Will Dogecoin Crash?
Dogecoin is a highly decentralized cryptocurrency, so the chances of a crash are pretty low. However, cryptocurrencies are highly volatile and carry a high risk of loss.
Virtual currencies are highly volatile. Your capital is at risk.
Disclaimer: This article is a description of Dogecoin forecasts in the market by crypto analysts and forecasters and by no means is advice on investing in any mentioned or non-mentioned cryptocurrency. Readers must do their own research and be aware that investing in Dogecoin or any Crypto has high risks.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.