Dogecoin Price Prediction for 2022, 2025, and 2030
03 Aug, 2022
Dogecoin Price Prediction
There are a large number of different cryptocurrencies in which you can invest funds for passive income, so the problem of choosing a specific option is quite common among users. Some coins have a stable exchange rate and low risk of collapse, but practically, do not grow. Other cryptocurrencies can constantly grow in price, before collapsing briskly.
Dogecoin (Doge) is one of the popular alternatives to the well-known Bitcoin, based on the Litecoin codebase. In the article, experts will try to figure out how the rate of this coin will change and what price predictions for Dogecoin can be found at this point and for subsequent years.
What Is Dogecoin Cryptocurrency?
First of all, Doge is remarkable in that it belongs to the category of Memecoins — the creators chose a popular meme with a dog as the mascot of this cryptocurrency. The first tokens appeared in December 2013 as a "fun and friendly" digital currency.
Interestingly, this coin was created by Billy Marcus and Jackson Palmer as satirical ridicule of Bitcoin (at that time, the usefulness of the first cryptocurrency was often too exaggerated), but later Doge began to be actively used.
After the blockchain update in 2014, the issue of this crypto token became 10,000 coins per block (5 billion 256 million coins per year). The user base of the system has also expanded greatly, and DOGE is now fashionable to use for daily purchases both online and in real life. For example:
AMC cinemas already accept these tokens.
Tesla, Starlink, Starship, and SolarRoof are also open to this currency.
Elon Musk plans to open a university in Texas, where the contract could be paid in Dogecoins.
The main characteristics of this cryptocurrency are presented in the table:
How to Buy Dogecoin?
To purchase this cryptocurrency after a thorough study of Dogecoin price prediction, it`s enough to turn to the services of crypto exchanges and crypto ATMs. However, the former's commission and the latter's unpopularity may not please users, so there is also a third convenient option — the purchase of tokens on other exchanges.
However, it should be borne in mind that not all exchanges offer this token, the range of available options should be checked before registering on the platform. So, to get Dogecoin, you need to carry out the following sequence of steps:
Choose a reliable and secure exchange platform.
Create an account and confirm it through links at the mail/SMS at mentioned phone number.
Replenish your account in the appropriate currency. Try to choose exchanges where deposits will not be subject to the commission to reduce your expenses.
Visit the tab with an assortment of currencies available for purchase and find "Dogecoin" there.
Select this option and enter the amount to purchase.
Confirm the operation and wait for the coins to be credited.
If you are going to store them for a long time, then experts recommend thinking about having special crypto storage, because exchange wallets are not particularly reliable. Explore the available hot and cold storage and be sure to set them up to save your crypto asset.
Dogecoin Price History
To rationally analyze the prospects for investing in this cryptocurrency, it is worth not only looking at the forecasts for the current and subsequent years but also exploring the old Dogecoin price movement trends. As a rule, experts consider the last five years — let's explore them, too, evaluating the periods of six months:
Exactly five years ago, in July 2017, the price of 1 token was $0.001674. Later, in six months it rose to $0.006006.
Then a strong decline followed and in July 2018 the price was $0.002979, and in January 2019 it fell even lower to $0.001893.
Six months later, the price rose to $0.002897, but fell slightly in January 2020, amounting to $0.002381.
July 2020 was marked for the currency by a slight increase to $0.003224, the next six months also gave a slight increase in price to $0.036841.
In July 2021, the market saw an unprecedented increase compared to previous values, as the Dogecoin price rose to $0.206627. However, it dropped to $0.141632 by January 2021.
Now, in June-July 2022, the rate remained stable at $0.066322-0.068930.
As you can see, making a rational prediction is very important because the course is constantly undergoing changes. Despite the fluctuations noted in historical data, investors are actively buying Dogecoin, guided by a slow but steady upward trend.
Dogecoin Forecast for Long Term
Almost all trading professionals unanimously speak of good prospects for the token with gradual growth and periodic small collapses. Within 3-5 years, the Dogecoin rate against the US dollar is likely to grow by about 2.5 times (the peak price is $0.17, 248% of the current one).
Speaking about the longer term, growth can become even more pronounced —for the next ten to fifteen years, the token price is predicted to increase to about $0.4, which is about 580% of the current price.
Thus, this asset is well suited for investment if the user does not want to make a profit quickly — for a significant income from Dogecoins, you will have to wait from five years to a whole decade.
Dogecoin Price Prediction 2022
However, it’s worth considering the situation in more detail for the current year if you will make this token part of your investment portfolio now. Elon Musk, as the "ambassador" of the currency, constantly stirs up the interest of users and stimulates the popularity of Dogecoin, announcing services that will be able to accept the token as payment in the future.
For example, the price rose slightly and strengthened after the announcement that Tesla would accept Doge for purchase:
Giga Texas Belt Buckle;
Cyberquad for Kids.
Also, the 2022 rate was affected by the announcement of AMC and Dallas Maverick to accept this crypto token from March of this year.
Thus, evaluating all the factors that could change the growth trend, we can conclude that according to Dogecoin price prediction 2022, the price level can rise to about $0.09 with a resistance level of about $0.1212 within a few months. However, it is worth considering the potential minimum of $0.02.
Dogecoin Price Prediction 2025
According to experts, the price growth trend will continue for several years. That is why the peak for Dogecoin price prediction 2025 has a range from $0.28 to $0.37. And if in 2022 the return on investment was 247%, then in 2025 this parameter will increase to 393%.
Dogecoin Price Prediction 2030
Having collected analytics from various sources, the average price of a coin by the end of this decade will be between $0.4 and $2.05. With the maximum Dogecoin price prediction 2030, the percentage of return on investment will be approximately 3053%.
Should You Invest in Dogecoin?
In general, after a fundamental analysis of Doge, you can find out some things — its popularity has not been falling for almost ten years, and the rate has been steadily growing. The market capitalization is at least $9 million at this point in time; however, it has previously peaked at $75 million.
Typically, if the average user were to purchase coins with $1,000 at the beginning of 2021, then now the income would be about $85,000! The upward trend suggests that Doge is a fairly promising option that is definitely worth investing in.
Yet, for some reason, Doge’s course behaves unpredictably, and even professionals cannot guess with a 100% guarantee in which direction the price will move. However, the volatility of Dogecoin obviously needs attention, making this token a good investment.
What is the Future of Dogecoin?
If we compare the forecasts for each year from 2022 to 2030, we can see that in the long term the future of the coin is much better than in the short term. However, it is also worth considering the variability of the factors on which Dogecoin depends — if the system loses the support of Elon Musk, then there is a risk that the price will not reach the values predicted by experts from one dollar per token and higher.
In addition, the future of Doge can also be influenced by the industry leader, namely Bitcoin — when BTC jumped from $20,000 to $64,000, this provoked a bearish growth of the promoted cryptocurrency.
Other factors that have an impact on the prospects of the coin are public awareness of this token, as well as an increase in the level of decentralization. If the Doge community expands, as does the scope of the cryptocurrency, then the sphere will probably be able to attract even more investors.
Well, the review of the Dogecoin price predictions has come to an end and it's time to draw some final thoughts. However, first, let's pay attention to the disclaimer: the aforementioned forecasts are the conclusions of professional traders and investors who made assumptions based on the current situation.
Critical events in the global community or some drastic changes in the Dogecoin system itself can nullify current forecasts and induce the need to make new ones based on more up-to-date events. And this is the main reason why we recommend that you read professional reviews regularly.
However, the main upward trend in the price of Doge is likely to continue anyway, so this coin is an excellent prospect for most investors who have a modest budget but are willing to wait for a profit for several years. So, add it to the investment portfolio and ensure its profitability!