Dogecoin is a decentralized digital currency based on peer-to-peer technology allowing users to transfer money online. Interestingly, a joke led to the creation of Dogecoin.
What Is Dogecoin (DOGE)?
What began as a fun project involving designing Litecoin codebase, eventually commanded $300 million in market capitalization value. It perfectly symbolizes that strong community support can work wonders.
The highlight of Dogecoin is its mascot, ‘Doge’, an internet meme that went viral in 2013 and featured a Shiba Inu dog picture symbolizing internal monologue. Earlier Dogecoin versions had little difference with Litecoin peers. Now, blocks are created much faster in Dogecoin compared to Litecoin. Also, the mining difficulty is optimized after every new block appears and the fixed rewards further entice the miners to continue operations.
The fun element engraved in the Dogecoin psyche gets its attention on social media. In fact, the coin is pretty popular outside the crypto and blockchain community. No wonder it is well accepted in mainstream payments including retail chains.
Dogecoin began its journey in 2013 and it is still going strong in 2020 – that’s a long tenure in the volatile cryptocurrency realm. Being among the top 30 digital currencies in the market, its credibility and legitimacy quotient is certainly high.
Dogecoin Price Prediction 2020
The year 2020 has not been kind to cryptocurrencies in general. Most coins have touched the nadir of their lifetime and dogecoin price prediction is no different.
However, digital currencies have weathered the COVID-19 economic storm better compared to traditional assets. In fact, Bitcoin has stood strong during the March market turmoil and recouped most of its losses pretty quickly.
As far as 2020 is concerned, Dogecoin will likely complete its consolidation to move higher in the next few months. Its rising use in mainstream payments will increase its adoption among the masses. Dozens of online retail merchants and platforms, including AllGamer and eGifter, now accept payments in Dogecoin.
The mainstream adoption trajectory of Dogecoin is close to Tron and IOTA. The coin’s entry into the top 25 crypto ranks happened fairly quickly which reflects its technical and social prowess. Now we need to get focused on dogecoin price predictions 2020.
Currently, the coin is hovering around the $0.02 mark with a maximum price of Dogecoin set to reach $0.0284 in the near term. This year, the price of Dogecoin is set to touch a maximum of $0.03 in case the broader cryptocurrency realm remains upbeat.
As people realize its practical value and mainstream importance, Dogecoin will likely pick up the pace later in the year.
Will Doge reach $1?
The prospect for improvement of Dogecoin is high. Considering the fundamental background of the dogecoin doge is very pleasing to the community, it can happen. With an all-time price high of $0.017491 in January 2018, Dogecoin has unexpectedly risen in value to a staggering 1,442%.
Let’s take a closer look at the current market volume. For Dogecoin price to increase, the supply and market cap are important considerations. While using simple calculations of the current price of dogecoin $0.00194680 to grow to $1, means that it requires a 513.66% increase of value.
That being said, the number of active users is a crucial factor since there are only a few crypto coins that are actually being used. With an active community supporting Dogecoin, maybe it wouldn’t be too far for doge price to have a value range from $1 to $3.5 in around 0 or a couple of years or so.
What will Dogecoin be worth in 2020?
Let’s now look at the basis of the 2020 dogecoin price prediction. On March 30, the dogecoin current price was $0.001704. Dogecoin price changed to $0.001904 which was an 11.73% increase after about 22.5 hours later from its former prediction price point. However, it didn’t take long for doge to be in a 9.32% downside course which was at $0.001728 on April 1. The price increase is relatively small but not reach 0.
By April 2, the dogecoin price forecast showed a recovery by 15.18% that led it to reach the highest price of dogecoin at $0.001988 that week. After that, the dogecoin price movement was on a gentle slope which consisted of swing cost to 9.01%.
Looking at the chart, the dogecoin value bullish trend seemed to break above a descending channel which is parallel to its historical pattern. However, not a lot of continuation happened which may lead to dogecoin prediction to face rejection at $0.0019 price point.
A positive trend will increase the doge price according to WalletInvestor’s data. The price forecasting analysis dogecoin site reveals that the rate will rise at $0.00368. CryptoGround also has similar findings which have a speculation mark up to $0.0033 for 2020.
There are valid concerns that some commenters raise regarding price manipulations of bitcoin and why bitcoin ETF is not being approved. Perhaps in favor of stable cryptocurrencies, the ETF committee should consider dogecoin as an example of a more stable cryptocurrency market as an alternative to bitcoin? What do you think?
Dogecoin Price Prediction 2025
Due to its popularity and being favored among its users, Dogecoin can stay afloat and not drop in value in the next 5 years. According to WalletInvestor, there will be a positive doge price trend. A prevalent prediction forecast for dogecoin doge is that by 2025, the price of dogecoin can significantly rise to $0.0184 – several cost leaps from the current dogecoin price of $0.00194680 (at the time of this writing).
CryptoGround price speculation is not far from WalletInvestor. Using its in-house deep learning algorithm, the prediction is that Dogecoin will be a profitable 5 years investment that may yield a doge price of $0.0141 by 2025.
Dogecoin Price Prediction 2030
Undertaking price prediction for a longer time period involves a lot many factors since many unforeseen events have to be factored in. Price can hover around 0 or it can touch new highs. Merely studying the Dogecoin price chart or technical analysis isn’t enough. This is where fundamentals of a cryptocurrency kick in.
Doge price prediction for 2030 certainly looks promising since the cryptocurrency has displayed fairly strong fundamentals. The way it has moved into the top 25 coins, it may display the same attribute to move even higher up the ladder. Partnerships and collaborations will add more value to its blockchain leading to an improvement in the coin’s adoption rate. Positive Doge price prediction for the next decade puts it in the range of $0.2.
What will Dogecoin be worth in 10 years?
What dogecoin in 10 years will be worth 10 years from now is a wide scope in terms of Dogecoin price prediction. But let’s try to look at it from a fundamental prediction perspective.
From the day of Doge’s inception in 2013, the dogecoin which started as a joke is now one of the most popular in the crypto community.
Despite having a dogecoin forecast low price point of $0.00194680 today, doge has a committed audience and is used as one of the alternative payment options in other countries such as Pakistan, Bangladesh, Pakistan, and the Philippines.
If the current price predictions remain solid and steadfast in around 10 years, dogecoin price can reach $10 or higher. Since any altcoin can increase exponentially in a given time which may mean the doge might also rise significantly in value.
Dogecoin doge is a currency. Doge is meant to be used. Using Doge increases demand as Doge exposes newcomers to the advantages over alternatives.
Buying dogecoin doge to hoard in some misguided attempt to game the cryptocurrency market does nothing to advance the doge or increase dogecoin’s doge utility. But going by price predictions does expose people to potential losses when things go sour. Doge becomes the loser over-bloated price analysis.
Dogecoin Price Prediction 2040
Doge price prediction for 2040 is a long shot by any standards. Given all the positive developments it has seen in the last 5 years, crypto forecasts it to enter the top 5 cryptocurrencies in the future. While many worthless coins can reach 0, Dogecoin Doge will flourish due to its strong technicals. By 2040, cryptocurrencies will surely become mainstream bringing in an era of digital finance never seen before.
There is a high probability that Doge gets integrated into a broader group of cryptocurrencies operating in a sea of financial mechanisms. This can increase the valuation of Dogecoin exponentially. A target of $2 for Dogecoin by 2040 seems realistic.
Should I buy a Dogecoin?
I think that if everyone would buy a lot of Dogecoin, it will raise the dogecoin price. Bitcoin started out the same way. We can power our own economy if we make dogecoin viable. Buy, buy, buy! That’s just my take on dogecoin.
If you buy even 200 and Doge price goes up to the price $100, you have made $200,000 (before taxes) on a small investment and you can’t go wrong with that.
I’ve long been convinced that Doge absolutely blows everything else away. Dogecoin doge is superior on every count. But try and get anyone ‘serious’ to look past the joke thing.
Even the guys who own Doge themselves seem unwilling to do anything. It makes it hard to advance adoption when exchanges, journalists, even traders refuse to take Duge seriously.
But on the plus side, investors have bucketloads of enthusiasm around dogecoin doge. So maybe we can just keep chipping away because hassling people about Doge won’t make them cave in.