What is Dogecoin?
In a way, Dogecoin is a joke gone too far. It was created in 2013 by Billy Marcus as a mockery of Bitcoin. It was based on Luckycoin’s blockchain and a popular at the time doge meme became the face of the currency. Hence the name. Dogecoin is sometimes regarded as an educational tool for novice investors. With such a predictable coin it is easy to just follow some DOGE news outlets and make a feasible Dogecoin price prediction.
Why is Dogecoin different?
Unlike Bitcoin and many other coins, Dogecoin is an inflation cryptocurrency. That means that DOGE holders wouldn’t face the main BTC issue, stagnation. In addition, it is often used for various charities. With its help, sports organizations and projects to provide people in need with drinking water were sponsored.
DOGE, that often helps the beginners to get acquainted with the market, has a high degree of liquidity. Especially in comparison with other tokens of the same low price level.
On top of that, Dogecoin is very popular with Asian investors, especially in Japan and Korea. Support from the richest countries of the region provides ever-growing demand that’s proved by Dogecoin’s price history. DOGE has a small transaction processing time and a small commission. Quick and cheap deals are just what people need.
Dogecoin Price Analysis
Looking at all the benefits listed above it would be logical to assume that DOGE price charts showed steady growth from the very beginning. Well, not quite.
According to the Dogecoin price chart, in May 2017, there was a rapid increase in the Dogecoin rate. By the end of November of the same year, the rate was steadily falling. In December, the third huge increase in the price of currency was repeated. At the peak, the rate rose to $0.018 and has now dropped to $0.002. Similar jumps occurred again in 2018. There is a huge possibility that the situation will happen more than once or twice.
Dogecoin Price in 2018
Dogecoin (DOGE) entered a very small list of cryptocurrencies, which in 2018 not only lost their positions, but also managed to significantly increase them. This already indicates a good potential of this cryptocurrency, which is now on the 30th place in capitalization.
The development of Doge in 2018 took place in large waves. Dogecoin met the new year with a downward trend. The lower peak came on January 2, when the price fell to 0.0088 dollars. After that, the cryptocurrency pushed off the bottom and began a rapid growth, rising in price more than 2 times in 4 days, according to the DOGE news. By January 6, the price of DOGE was already $0.0171.
Unfortunately, Dogecoin didn’t keep these positions. The chart turned down, and by January 12, the value of the crypto-coin fell to 0.0114 dollars. The next day there was another small surge, Doge rose to 0.0130. January 14 was the last day before the sharp fall of the exchange rate.
The decline was rapid. By January 18, Dogecoin has set the first anti-record value since the emergence of real interest in cryptocurrencies in 2017. Its price was $0.0068. As it turned out, it was not the end.
Dogecoin was going down all January and the first week of February, falling to 06.02.2018 to the mark of 0.0035 dollars.
Dogecoin price correction
Mid-February was a success for doge. First, its price rose to $0.0073, then slightly decreased to $0.0067. This peak, recorded on February 24, was the last before the next fall. Almost all the time until the autumn 2018 doge ranged from 0.0030-0.0037 dollars, with rare periods of growth or cheapening until the end of August 2018.
On August 28, a rapid rise in the price of DOGE began from the $ 0.0025 mark. Already on September 2, the top of 0.0065 dollars was fixed. After a slight decline, Dogecoin returned to growth, and became the fastest growing currency in 2018. The price was $0.0068 – an increase of almost 3 times compared to the minimum.
However, rapid growth preceded a gradual failure. DOGE returned to 0.0025 and fluctuated within this range until the New year.
Dogecoin Price Prediction 2019
Dogecoin entered 2019 at the $0,0023 mark. Unsure in the current state of the market, analysts are careful with making statements on DOGE future price. Analysts point out a few factors that indicate that the price is going to grow. First of all, the coin has a greater intrinsic value than many others and it will only grow over time.
The more people use DOGE the more stable the coin price will be. Due to its use in the real world, Dogecoin will continue to amaze the market. Some careful predictions promise 18% by the end of 2019, some of the bolder ones insist on the price reaching $1 mark this summer.
Dogecoin price prediction 2020
According to analysts, the dogecoin future is quite positive. In the next year, dogecoin will strengthen its positions. Still, we should not wait for the rapid growth of this cryptocurrency. However, in January we expect the traditional stock market surge that will allow Dogecoin seriously to improve its positions. In particular, in the first month of 2020, DOGE will make a jump to $0.0067.
However, according to analysts, Dogecoin will not hold its positions, and by February will fall to the level of $0.0054. In the first months, the movement of the chart will be smooth. By March, the approximate rate will be $0.0051, and by April DOGE will grow slightly, and its rate will be $0.0058.
The middle of the year for Dogecoin will be a period of “roller coaster”. First, the rate will drop to $0.0052, then push off from the bottom to make a rapid leap up to $0.0065 by July. However, it will not be possible to hold these positions, and the chart will go down again to stop at $0.0055 in August. In September, there will be the next jump in prices up, and according to experts, DOGE can break $0.0070.
Later, in October-November, there will be a period of unhurried decline in the price of Dogecoin. During that period the cryptocurrency will lose almost all the September progress. In the last month of autumn, DOGE will be in the positions he held in the spring, that is, about $0.0054-$0.0056.
December 2020 will lead to another rise in the price of DOGE to $0.0067. And this time the cryptocurrency will not return to the previous values. The last month of 2020 should be the beginning of a new era for the cryptocurrency when it will begin to conquer new heights.
Dogecoin future price in 2021
At the beginning of 2021, DOGE expects a correction. It will allow the cryptocurrency to gain a foothold on the occupied positions and get opportunities to establish a new price record. According to experts, during this period the cost of the crypto-coin will be $0.0063. But in February 2021 Dogecoin will set a new maximum for itself. Experts suggest that the winter will end at $0.0073 for DOGE.
In March, we are not expecting radical changes in the cost. Most likely, Dogecoin will hold the positions taken in February and will trade within $0.0072-$0.0073. But in April, the cryptocurrency again expects a correction that will make a new leap up. The cost will return to $0.0067.
Once the price reaches the lower peak, the trend will reverse and the coin will gradually add in value to $0.0078 in June 2021 within two months. However, DOGE will not stay in these positions for a long time. Already in July, the crypto-coin is waiting for another decline.
In July, Dogecoin will return to the rate of 0.0073, followed by a long lull. July, August and September, the cryptocurrency will hold approximately the same positions, showing a slight increase, then a small decline. But by October, there will be a new jump and another price record since the fall in 2018. In particular, in the second month of autumn DOGE should break $0.008.
The end of the year for the coin will be negative, according to the Dogecoin forecast. In particular, experts believe that after the peak of $0.008, a deep correction will follow. As a result of which by December, the cryptocurrency will be trading at a level not higher than 0.007. Nevertheless, it will only be a preparation for the next race, which will be very loud.
Dogecoin price prediction 2023 and later
Already in January 2022, there will be a sharp rise in doge price in 2023. According to the prediction, as a result of which it can take a height of $0.0092. And this is not the end, the trend will continue to move smoothly upwards, reaching $0.0095 by February.
2022 will be a year of instability for DOGE. The cryptocurrency will suffer a serious “shake”, and it will then get close to $0.0098, then to fall to $0.0075. However, the experts’ dogecoin price forecast until the end of the 2022 year is favourable.
By the beginning of 2023, DOGE will finally be able to take the bar of $0.01. This will happen in February. Then there will be a period of exchange rate fluctuations, in which Dogecoin will try to gain a foothold in the area of $0.01. However, this will be done only by 2024. In 2023, the rate will continue to jump, and during this period, the price of Dogecoin will fall even to $0.007.
Dogecoin price prediction 2024
In 2024, the cryptocurrency will finally be able to gain a foothold of $0.01, and failures below this level will not be observed. However, this year will bring a stable exchange rate for DOGE, in the range of $0.011-$0.012.
In the next two years, Dogecoin should gradually grow, but analysts do not predict rapid jumps. Moreover, by the end of 2026, it will not even be possible to break the price record set in early 2018 at $0.017. According to experts, Dogecoin price target is $0.015. However, developers can significantly increase its cost by offering new developments for the crypto industry.
To sum it up, the success of Dogecoin is a true miracle. It doesn’t have any particular advantages but simplicity and accessibility. However, DOGE exists for more than five years, and during this time the coin has made it to the list of the most reliable projects. This is a long time for the cryptocurrency market and the trust of investors and traders make DOGE price predictions seem positive nonetheless.
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