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The market has yet to decide whether it will continue its downtrend or start an uptrend this year. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The initial hype surrounding an integration of Dogecoin on Twitter has flattened out in recent months. In the world of cryptocurrency valuations, I would say, historically the question is less about 'why?' The DOGE price soared from $0.004681 at the start of 2021 to its all-time high of $0.7376 on 8 May 2021, a gain of more than 15,650%. Will Dogecoin Reach $1? have already done so. In spite of this, his Dogecoin is worth about $20,000, and when he sells, he keeps $19,900. Will Dogecoin hit 50 dollars? Unlikely, but who knows. I WISH I would have bought DOGE at .04! While it is generally agreed that Dogecoin can reach $1, the bone of contention is when this would happen. Maximum Lengths, Explained, Spotify AI DJ: How The New Feature Works (And Where To Find It), What Happened To Snapchat Games? !To the MOoooooooooon. This shows the impact that a Twitter integration could have on DOGE price. Even high-market-cap cryptocurrencies have proved vulnerable to the current bear markets. It would seem night impossible for the token to hit such a price but stranger things have happened this year. Dogecoin is even more bizarre in that respect., Novogratz and other proponents of Bitcoin so-called Bitcoin Maximalists who believe that the Bitcoin network will provide everything that investors want in a digital currency in the future also point to its inherent scarcity as a characteristic supporting its value. If Shiba Inu gains 30% a year (assuming a burn of 50% of its supply) it will take 43 years for Shiba Inu to reach 50 cents. The only coin to hit that market cap is BTC, obviously. Once we reach 500 Likes & RT, we'll give out worth $640 lands & Seeds to the most engagement followers! $10 per Dogecoin is also likely within this decade. In other words, its not just Dogecoin, its the entire crypto market. Although DOGE started as a jokeit soon gained popularity among crypto users, as its low value (it launched at $0.000232) made it convenient for small online transactions, such as tipping content creators on social media platforms. GME's spike was fuelled by short-sellers being forced to cover their positions as the stock's value rose instead of tumbling but it gave hope to other traders looking to make money this year. To date, more than 110 billion DOGE tokens have been mined and stand at a market cap of 49.31billion ($68.39billion). An Amazon endorsement would generate an even much bigger boost to the meme cryptocurrency. So it arguably isnt in the same league as Bitcoin, and is, in turn (according to some) not a wise long-term investment. Popular brands followed suit and jumped on the #DogeDay420 bandwagon with Dogecoin-related tweets. However, it's impossible that Dogecoin will ever get to $100 per coin. Dogecoin has a slim chance of succeeding. With 22 bullish signals and 7 bearish ones, the algorithm predicts a replay of last years May rally. That has crypto investors wondering if the. Considering Doge has a huge supply and no real world use, its upside potential is limited by pure market speculation and forces it can produce. The Dogecoin price is $0.08, a change of 0.47% over the past 24 hours as of 8:42 p.m. It is unreasonable to expect a long-term Dogecoin survival if that is the only hinge for the project. Certain factors could aid Dogecoin in its quest to reach $1. Dogecoin continued its trade at $0.002 during the start of January. Of course, this is an element that is expected to eventually iron itself out over time and as things settle back down again. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. Even during the height of meme-stock mania at the beginning of 2021, it still was a long way off. Because there isn't nearly enough money in the world, it would be nearly impossible for Dogecoin to reach $100. With more than 18.5 million units already mined, a bitcoin scarcity is fast-approaching and investors are rushing to buy while its still cheap (relatively speaking). Thanks to elon musk for bringing Dogecoin back in top picture and we could see huge demand in future. The dogecoin community believes the altcoin is worth much more than the market currently values it. the average trading price will be $0.497. Dogecoin's $1 target edging closer as traders rally to push DOGE up, Dogecoin price makes explosive return as Elon Musk drops hint, Dogecoin prices have surged to record highs on Tuesday. As the project took on a life of its own, building up a large community, Markus and Palmer left the project and there was no development on the protocol. The maximum level that the DOGE price can reach is $0.129987. Also, considering that the coin has made roughly 5,000 percent gains in the past year, its not ridiculous to assume that the coin could triple in value (or more) in due time. Whether Dogecoincan bounce back enough to finally reach the Moon is unknown, though the possibility shouldn't be ruled out. (More on that a bit later). Should I Sell or Buy Bitcoin Before Halving? The 0.72 ($1) target seems much more realistic at this stage, although the last attempt to push DOGE up on "Dogeday" (April 20), ended with the token plunging in value. It seems unlikely that. Why? Dogecoin price prediction is expected to stay strong and head towards its first $1 mark towards the end of 2021. Broadly echoing Markus, he said buyers and sellers will determine its value: "Markets reflect value, so if someone is willing to buy a dogecoin for $1, then that is what it is worth in exchange. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Electronics retailer Newegg recently added dogecoin as a payment option for online purchases. Vitalik Buterin, co-founder of Ethereum said: There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well. No, our prediction model sees no possibility for Dogecoin to reach $10 in the short or mid-term period. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. The most crucial part of the game. The all-time high price for Dogecoin is $0.017491, which it reached in January of 2018. Investors are selling risky assets and moving into more stable markets. Offers may be subject to change without notice. As Dogecoin has returned more than 5,000 percent this year, a run-up to $10 might not seem like much to some. Serum price being one of the prime competitor to Shiba Inu. We can confidently say that Dogecoin's price would never rise more than $10/Doge. Speculators are still majority in the crypto markets and they dont care what they buy as long as they think it will bring them money. Lets now cast our eyes over some of the DOGE price history. Mastercard and Visa are trying to streamline crypto payments on their networks. DOGE dropped to $0.1107 on 13 March before making another attempt at the $0.17 level on 5 April. Since its creation in December 2013, it has risen 42,000% in eight years, so significant price appreciation wouldn't be unprecedented. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at a moments notice. The site's dogecoin price prediction for 2030 said the price could reach $0.88 that year. But some believe there is an even greater potential for gains. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. His companies accept Dogecoin for merchandise, and he has promoted it several times. At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. Putting aside this aforementioned focus on the cryptocurrency and its hype value, lets look at Dogecoin through a more traditional lens. ; Aragons; Azrbaycanca; ; Bn-lm-g; ; ; Catal; etina; Dansk; Deutsch; ", Potts elaborated: "The limiting factor is that if the price does start to rise considerably (i.e. Dogecoin's bull run through the crypto markets is showing no signs of slowing down, with the memecoin breaking new records this week. Will Dogecoin get capped again? Every $1 increase in the Dogecoin price would necessitate an additional $180 billion in 2030. The dogecoin price skyrocketed by 1,234% from April 2021 to peak at an all-time high of $0.7376the following month. Dogecoinskyrocketed almost 12,000% from the start of 2021 up until the beginning of May, when it hit an all-time high of $0.74. It's exceedingly hard to create a corner and bid something up unless you control a significant part of the supply, which was the case in the GameStop fiasco.". Suddenly, millions of new investors were looking to buy Dogecoin in hopes of future price increases. Ethereum co-founder Vitalik Buterin confirmed that Dogecoin would be moving from proof-of-work to proof-of-stake some months ago. These investments simply arent there for Dogecoin. Related: Does SpaceX Have Its Own Cryptocurrency? It lacks hard scarcity. DON'T MISSElon Musk's Bitcoin investment ripped to pieces[REPORT]Where can I trade dogecoin? There is a crazy excitement [from] very young investors around meme coins and meme ideas. End of 2024 - Dogecoin's surge to $0.60 should make numerous investors FOMO and eager to get into the market before the coin . Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. Recent weeks and months have not been great for cryptocurrencies in general, with many having lost significant value since 2022 began. The current price of Dogecoin sits at $0.085 USD, which is some ways away from its primary goal of hitting the $1 marker. Since then, however, and excluding the odd increase, the value of Dogecoin has only gone in the wrong direction. Our forecasting model sees Dogecoin price crashing and dropping to near 0 in a distanced future. The boost also came as cryptocurrency exchange platform Coinbase became the first of its kind to go public in the U.S., shining a spotlight on the fintech industry. they said it was unlikely btc would be $100 let alone $10,000 or $40,000 or so $1m btc seems as likely as $10 doge.. Ive read blog after blog finance page after finance everybody had wrong. This includes sponsoring the Jamaican Bobsled team to the Olympics, building new wells in Kenya, and sponsoring a car at NASCAR. But theyre afraid of betting against it with money, especially with a backer as powerful as the Reddit crowd that initiated the epic GameStop short squeeze. Yes, Dogecoin is a PoW coin that can be mined with the so called merged-mining techniques. According to the latest Coindesk data at 7.11am BST on Wednesday, DOGE's returns are up more than 13,000 percent on last year's price. The basic economics ofDogecoin have artificially createdan uphill battle. Dogecoin price forecasts vary but they generally lean bullish. Maybe. Due to the exponential nature of the network effect, which is the main driver of Dogecoins price, it is possible for Dogecoin to reach ten dollars. When he is not writing, he is looking to meet new people. DOGE started the year at $0.1705 and moved up to $0.2032 on 14 January, but then sold off to $0.1272 on 24 January. know here: Dogecoin Price Prediction Now looking at next milestone that probably $10, $100, $1000, in which $10 quite possible in next 5 to 10 year, but $100 USD and $1000 is very tough to predict that could take more 30 to 50 years from now. With bearish sentiment taking hold of crypto markets, DOGE traded down to $0.04972 on 18 June, its lowest level since early 2021. However, always remember to do your own research. The market value of Dogecoin is currently around $0.45 USD, and for the price to reach $100, it would require an investment of $18 trillion. SHIB Price Prediction 2023 - 2030. Jason Potts, economics professor and co-director of the Blockchain Innovation Hub at Royal Melbourne Institute of Technology (RMIT) University in Australia, told Newsweek he would be "surprised" to see the dogecoin price rocket to $1 levels because, unlike Bitcoin, there is no supply cap. Every $1 increase in the Dogecoin price would necessitate an additional $180 billion in 2030. There are currently about 130billionDogecointokens in circulation today, with 10,000 new ones minedevery minute. Why The Feature Disappeared. But that is not likely to happen any time soon. Once stability does return, it is possible that cryptocurrencies, including Dogecoin, begin to increase in value again, and possibly to an even higher levelthan what wasseen last year. No, Dogecoin will not reach $1 by the end of 2021: 31.7%. The initial target is to lift the price to $1, as hitting that milestone will make more people to start taking the so-called joke currency more seriously. This aged like milk. In fact, Markus recently wrote on Reddit that he sold his coins for (only) about enough to buy a used Honda Civic. You can unsubscribe at any time. Well, it faces a fierce competition from other similar crypto projects, does not stand out with its technology and innovation, does not have a genuine community (not counting speculators and hype-chasing crowd) and the team behind the project is unproven. Dogecoin (CRYPTO: DOGE) will not find it easy to reach the $1 mark, even as the joke cryptocurrency attracts a celebrity fan following extending from Tesla Inc (NASDAQ: TSLA) CEO Elon Musk to. Then there was April 20 (aka, 4/20, National Marijuana/Weed Day) which this year an army of Dogecoin advocates on social media declared as Doge Day. The idea was that by using hashtags like #DogeArmy, #DogeDay420, and #Doge420, they could help propel the value of the coin upward towards the lofty goal of $1 per coin. The lack of any real utility, with no cap on the amount of Dogecoin that can be mined, creates a difficult environment. That in turn dilutes its value. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In other words, it would most likely take too much money to push DOGE to such heights. Doge price may increase in the upcoming months. Potential ROI: 58.5% BUY DOGE Price Forecast for February 2023 This is thanks to its ever-growing community. While the potential is there for a major price rally, others say that it is still unlikely that dogecoinwhich was initially launched as a parody of digital currencies using a Shiba Inu dog meme as the face of the brandcan technically reach $1. No, Dogecoin can not make you a millionaire as we do not see it doing a 10x price increase any time in the future. The Dogecoin Foundation was launched in 2014 to provide a governance and support framework for the projects community development. But that might not happen very soon, especially not if the crypto winter persists. When asked if he could ever see Dogecoin, or DOGE, hit $1, Markus explained: "It's an open market, so the current value is simply decided by whatever someone is willing to pay for it at a specific point in time. Since there's no supply limit, the only way for Dogecoin to reach $1, or go beyond, is when there's a considerable difference in the amount of money being injected and the coins being mined. While individually these small plugs from brands may seem like potentially irrelevant promotions, they can affect a cryptocurrency's price in a big way. The joke didn't last long for its creators: Markus and Palmer both ended their involvement with Dogecoin in 2015. So investors should be prepared to make losses and never purchase more than they can afford to lose. However, Dogecoin still has the potential to reach 1 dollar. Capital Com is an execution-only service provider. At the recent peak, it was worth more than 75 cents and the market cap more than $80 billion. With that out of the way, the sentiment surrounding DOGE's potential has been bullish this year but just how far can the momentum carry Dogecoin? He told Newsweek: "I would be very surprised to see DOGE coin hit $1, mostly because of its extremely large and inflationary supply schedule. The DOGE rally has prompted a frenzy of memes and tweets from the token's backers. For the short-term future, it could reach $0.0694. Apple's subscription services generated $78.13 billion in 2022. Update: January 26, 2022 - Dogecoin (DOGE) is the father of all meme coins and it remains the preferred one for many people. Now looking at next milestone that probably $10, $100, $1000, in which $10 quite possible in next 5 to 10 year, but $100 USD and $1000 is very tough to predict that could take more 30 to 50 years from now. "I can't pass up a good bargain," Contessoto said. Aside from positive cryptocurrency industry sentiment, several other factors have accelerated Dogecoin's recent gains. For each dollar increase in Dogecoin price, the market cap would need to rise $180 billion. Top 10 Apple Statistics and Facts for 2023. On Monday, April 19, Dogecoins market capitalization (equated by multiplying a coins current price by its circulating supply) hit $50 billion for the first time, with the coin itself hitting an all-time high of $0.45 made possible by surges of roughly 500 percent from the previous week and roughly 5,000 percent since the start of the year. It is still one of the favorite jokes around, even Elon Musk joins the fun occasionally but we simply do not see the grounds for Doge long-term success. As such, analysts and algorithm-based forecasters can and do get their predictions wrong. That puts a $10 price target firmly out of reach; no matter how many people buy. Dogecoin which was worth as low as $0.0023 back in summer 2020 jumped to $0.10 in value on Thursday. At the time of writing,DigitalCoinPriceforecasted that DOGE could reach $1.25 by 2031, but the majority of sitesdid not see it reaching past the dollar. Dogecoin price reached an all-time high of $0.45 in April 2021. DOGE returned to the headlines in September 2022 as an amended lawsuit against Tesla (TSLA) CEO Elon Musk filed in a New York court added seven new investors as plaintiffs, as well as six new defendants, accusing them of racketeering. To answer the question at hand, one could look at the coin using the more traditional factors usually considered when evaluating the strength of a digital currency offering, factors like blockchain protocols, use case, price action, circulating supply, and strength of the development team. Will Dogecoin reach $1? Network: Buy Bitcoins Instantly Using Debit/Credit Card, Buy Bitcoin Anonymously (without Verification or ID), DOGE Price Prediction For The Next 90 Days, Ethereum Price Prediction | ETH Price Forecast, Ethereum Classic Price Prediction | ETC Price Forecast, Holo Price Prediction | HOT Price Forecast, OmiseGo Price Prediction | OMG Price Forecast, Golem Price Prediction | GLM Price Forecast, Bitcoin Cash Price Prediction | BCH Price Forecast, Litecoin Price Prediction | LTC Price Forecast, Tron Price Prediction | TRX Price Forecast, Verge Price Prediction | XVG Price Forecast, Eos Price Prediction | EOS Price Forecast, Sia Coin (SC) Price Prediction 2023 | 2025 | 2030 Future Forecast For SIA Price. However, due to the large supply, which is ever-increasing, the market cap would have to grow larger than 1.3 trillion USD. There is a possibility for the price of Dogecoin to reach $1 if the previous market performance is anything to judge by. The current price of Dogecoin sits at $0.085 USD, which issome ways away from its primary goal of hitting the $1 marker. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: No, judging by the team activity on social media, github, their own website. Dogecoin rose by 36% in value compared to where it was on Monday, May 3, which contributed to a 95% rise over the entire week, Forbes reports.. In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Digital Coin Price sees DOGE topping $0.55 in 2022 and hitting $0.99 in 2025. But most importantly, the total supply of Dogecoin makes it possible for the token to reach $1 faster than Shiba Inu or any meme coin, for that matter. Ill stick to Bitcoin and Ethereum, thank you very much. While it's fair to say that anything is possible in the cryptocurrency world, the likelihood of Dogecoin reaching $1 is pretty slim in my opinion. So, for $100 per Dogecoin, the total . When considering a DOGE coin price prediction, its important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or tokens price will be in a few hours, and even harder to give long-term estimates. The price then steadily rose in the first few weeks of the year. Institutional (and, in turn, mainstream) adoption is cited as one major factor propelling the rise of cryptocurrencies. 423. CRYPTO-SAVVY is an occasional series from Inverse that explains the world of cryptocurrency and where its going next. The spike followed Coinbase IPO that generally boosted cryptocurrencies across the board. I mean, its shocking to me that GameStop continues to hold any value, Novogratz said. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. At that time,there were 132.67 billion DOGE in circulation, representing the total supply. And how much will it be worth? Our forecasting model sees Dogecoin reaching $0 in 2040. Just over a week ago, Musk tweeted, "Doge Barking at the moon, which boosted the coins price some more. The price of DOGE in 5 years could lie around $ 0, according to CaptainAltcoins prediction model. You were way off on that one. It has nearly reached .70 now and may easily reach as high as $1 after SNL tomorrow night. What started as a joke in December 2013 has grown to become one of the top ten cryptocurrencies in the world based on market cap. Let's examine why. At the time, many investors were eagerly awaiting the resolution to the question: Will Dogecoin reach $1? While it failed to do so in 2021, it showed that Dogecoin can reach 1 dollar, as long as a strong social media push and a broader crypto market upswing are in play. The site's technical analysis was bearish, with 17indicators making downbeatsignals and 13 making bullish ones. 763,393 views Jan 29, 2021 Can Dogecoin reach $10? Saturday, 4th March 2023See today's front and back pages, download the newspaper, order back issues and use the historic Daily Express newspaper archive. As time goes on, it is also possible that the initial buzz, momentum and interest around Dogecoin wanes, especially if newer and exciting coins continue to come through. CoinPriceForecast was far less bullish in its DOGE coin price prediction. Its all-time high is $0.738, reached in May last year. Dogecoin reaching $1 is a distinct possibility. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. The cryptocurrency Dogecoin was created in 2013, but it wasnt until early 2021 around the time of the now-infamous Reddit-fueled GameStop and AMC short squeeze sagas that the coin started to attract more mainstream attention. However, Cheems follower continue to rise so does and meme popularity also increasing at global level. That said, DOGE has a reputation for being somewhat volatile, so we will have to wait tosee what might happen, especially in the light of the recent market crash. This may include adverts from us and 3rd parties based on our understanding. To reach $100 by 2030, then, there would have to be $18 trillion invested in Dogecoin. Please note that some links on CaptainAltcoin.com are affiliate links. Here's a closer look at some of the ways that might happen. The Doge Day 4/20 event that fans had hoped would help drive the tokens price to $1 turned out to be underwhelming as the price actually fell. A roadmap and governance for the future of Dogecoin. Why is Dogecoin worth what it's worth right now?It is for the following reason:Why not? we know Dogecoin worth depending on meme and Elon musk exactly doing same with creating memes. In 2021, there's estimated to be a supply of 127 billion Dogecoins. Yes. The Shiba Inu coin, launched less than a year ago and named after the dog breed, is a cryptocurrency that trades as SHIB and champions itself as the "Dogecoin killer." A single SHIB coin is . No, our prediction model sees no possibility for Dogecoin to reach $1 in the short or mid-term period. It is difficult to tell. In early February, enticed by a friend who is an avid Redditor, I put $50.00 into the coin on Robinhood when it was at about $0.03 and was able to double my money by selling a week later at $0.07. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. This is a joke coin never meant to stay alive this long, nor to reach these market caps and market exposure. Bullish or skeptical, crypto investors are interested in dogecoin projections after seeing its returns crash those of its blue-chip rivals such as bitcoin and ether. call +44 20 3097 8888 support@capital.com. at any given moment doesn't really make for a good investment case. The community behind DOGE coin represents one of the most faithful communities, which is said to have brought Dogecoin to a status where the currency cannot be considered a "joke" as it was the first outside the community. This was written in November 2020 and you predicted .04 by 2025. For many in the more traditional financial space, it may be difficult to comprehend the rise of Dogecoin. Now, there are also voices of more measured experts who indicate that over the decade, the. Apple finished 2022 with 164,000 full-time employees worldwide. Capital Com Online Investments Ltd is a limited liability company with company number 209236B. But the event revealed a fast-growing community around a cryptocurrency that started as a joke. Favorable mentions by celebrities such as Elon Musk, Snoop Dogg, and Gene Simmons have also boosted DOGE. Recent weeks and months have not been great for cryptocurrencies in general, with many having lost significant value since 2022 began. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? The meme coin has soared in value thanks to its popularity on social media. This is reflected in our 2023 predictions. READ MORE:Bitcoin warning: Musks Dogecoin control will not be tolerated. This is especially important because DOGE has little utility presently, and more utility will likely increase its chance of growing up to $1. Could the price of one dogecoin ever reach $1? Listing on additional exchanges, especially the coveted Coinbase, would be a major catalyst for the price to rise. Yes, Dogecoin will reach $1 by the end of 2021: 68.3%. But Dogecoin is unique, and being in a category all on its own, a more all-encompassing assessment requires one to look at other less-traditional influencing factors. In the long-term (8-10 years), it will most likely drop to 0 or thereabouts. The coin rebounded to $0.1716 on 7 February, but was unable to hold at that level. Novogratz has stated that he wouldnt take the dangerous risk of trying to short dogecoin even though he doubts its long-term prospects compared to bitcoin. Given that it has not reached $1 in almost ten years, many might question how long it would take. Let's explain. #DogecoinToTheMoon", Another person said: "I feel like an addict checking #dogecoin price every 30 seconds. It worked. The meme-based cryptocurrency became valued at $69 billion, which made it . Elon Musk's support was integral to Dogecoin's rise to popularity, and his influence within the community has not diminished.