Dogecoin Price Prediction: DOGE Prices for 2022 and Beyond
Dogecoin is a meme token developed by Billy Markus and Jackson Palmer as a joke. It’s considered to be the first meme coin and dog token. Dogecoin has surprisingly performed well during the last bull run as prices peaked at $0.68. In 2022, we expect Dogecoin to range between $0.12 to $0.21.
Recently, the meme token has been in the news because investors are rapidly accumulating coins, which leads us to believe the coin is preparing for a future rally. Moreover, celebrities like Elon Musk often mention Dogecoin in their tweets, skyrocketing the price. Therefore, we’ve created this prediction page to cover what impacts Dogecoin’s value and price forecasts until 2050.
Dogecoin Price Analysis This Week
Dogecoin’s value is heavily influenced by meme culture, trending news, and market state. Below are some great news sources regarding the price action of Dogecoin this week.
Latest Dogecoin Price Predictions by Experts
Dogecoin has gained a lot of popularity in the crypto community for its unexpected rise in value that surpassed fortune 500 companies like Ford. Let’s take a look at what experts predict for the future of DOGE.
DigitalCoinPrice believes DOGE will trade at $0.18 by the end of 2022 and $0.28 by 2025.
WalletInvestor forecasted Dogecoin would hit a maximum of $0.36 and a minimum of $0.23 in 2022. Also, they are bullish on the longevity of the meme coin and predict a price point of $0.97 by 2025.
Gov Capital predicts that Dogecoin will trade at $0.25 by December 2022.
Dogecoin Price Drop Prediction
If the same market trends continue, it’s expected for Dogecoin to fall in price significantly. Due to the coin having no real-world utility, it would require massive amounts of investment for the price to stabilize and increase. We could likely see Dogecoin fall to $0.04 as we enter a bear market.
Long-Term Dogecoin Forecast
The long-term forecast for Dogecoin is somewhat difficult to predict since it has no groundbreaking technologies to push the price. Instead, Dogecoin relies on meme culture to make the coin trend and gain widespread adoption. As a result, the coin value heavily relies on the community to push prices upward.
Monthly Dogecoin Price Forecast for 2022/2023
Dogecoin is likely to have an uneventful year because of how poorly the crypto market is performing. If we’re lucky, prices will remain stable for 2022, which would prepare Dogecoin for a future pump. Let's take a look at what’s expected for the upcoming months.
What Impacts Dogecoin Price?
There are multiple factors that can influence the value of Dogecoin. Here are the main reasons why Dogecoin price swings happen.
Perhaps the most important contributor to Dogecoin’s price movements is social media. If the coin becomes viral, many people invest and pump the price.
The news cycle can impact the price positively and negatively. Often, we’ll hear new laws regarding cryptocurrency that implement higher taxes and so forth. This turns the market red as many investors sell their tokens and purchase less risky assets. On the other hand, companies accepting Dogecoin can increase prices tremendously. For example, when Elon Musk announced that Tesla would accept DOGE as a payment method.
For Dogecoin to gain value, it needs a healthy amount of investors to buy the token. More than 14,400,000 Dogecoins are mined every day, meaning that millions need to be invested for the price to increase. Many experts say the new tokens entering circulation is the sole reason why DOGE will never reach $1.00.
Dogecoin being a meme coin requires a lot of attention to go viral. Celebrities posting Dogecoin content heavily impact the price as their fanbase begins to buy tokens. Elon Musk is a great example as whenever he tweeted about Dogecoin, the cryptocurrency would greatly increase in value.
Cryptocurrency Market Status:
For Dogecoin to perform well, the market needs to be in a bullish state. Usually, during bull runs Bitcoin pumps, then altcoins, and lastly meme tokens.
Companies accepting DOGE as a payment method can impact the price positively. We can see prices significantly increase when large companies adopt Dogecoin as a legitimate payment method.
Upcoming Dogecoin Events
Compared to other coins, Dogecoin doesn’t have any upcoming events that are critical for the token’s progression. However, DOGE holders frequently host online gatherings and party-like events themselves. These parties often focus on a charity that investors can give to during the event. In fact, during the start of Dogecoin in 2013, holders raised a total of $135,000 for various organizations across the world.
Dogecoin Historical Price Changes
Historically, Dogecoin has performed poorly since the token gained little attention outside of the crypto community. However, in recent years DOGE has gained popularity across many social media platforms, pumping the price to new all-time highs. Below you can see how Dogecoin has performed since its creation in 2013.
Dogecoin Price Prediction Chart
Dogecoin Vs Bitcoin Price Prediction
Dogecoin is a meme currency, while Bitcoin is often regarded as internet gold. Bitcoin has a capped circulating supply, meaning no more tokens can be created. This keeps demand for BTC high and the price increases constantly. However, with Dogecoin, 10,000 new tokens are mined every second, which increases the circulating supply. This makes it much harder for the coin to gain value since a higher market cap is required.
Dogecoin Price Prediction FAQs
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Best Brokers to Buy Dogecoin
Although being a meme token, Dogecoin is available on most cryptocurrency brokers. We’ve researched the best platforms for acquiring DOGE and compiled them in the easy-to-understand table below.
Other Price Predictions
Dogecoin is one of many cryptocurrencies to track. Check out a few other cryptocurrencies to compare before making your investment decision: