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Even high-market-cap cryptocurrencies have proved vulnerable to the current bear markets. Of course, this was in part due to the help of Elon Musk. At that time,there were 132.67 billion DOGE in circulation, representing the total supply. Despite the post-FTX bakruptcyfall, though, DOGE was still worth more than it wastwo months earlier. All Rights Reserved. If we are honest, Dogecoin had its zenit and it is all downhill from now on. But remember, the cryptocurrency industry is still young and volatile, and due to Dogecoin having a weak use case and no supply cap, while the numbers may be looking good now, it could easily go the other way. It has also inspired thousands of other meme coins. Some argue that Dogecoin does not stack up when compared to tried and tested digital currencies like Bitcoin. According to Cryptwerk, an online directory that provides information about where cryptocurrency is accepted, only 1,900 merchantsworldwide accept payment inDogecoin. Below is a tabular overview of how will DOGE develop in the short-term (for the next 90 days), according to our prediction model: Our prediction model sees DOGE reaching $ 0.1088 in 2025. Given his influence and continued and active support for Dogecoin, especially during a bull market. $10 per Dogecoin is also likely within this decade. 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? at any given moment doesn't really make for a good investment case. Of course, this is an element that is expected to eventually iron itself out over time and as things settle back down again. There are many DOGE skeptics out there, including Mike Novogratz. The coin traded in a $0.06-$0.07 range until a brief rally in meme stocks and coins driven by retail investors on social media brought the price up to $0.08864 on 16 August. ", The creator continued: "If the world collectively decides they are willing to purchase it for a dollar, then it's worth a dollar. No, our prediction model sees no possibility for Dogecoin to reach $1 in the short or mid-term period. The recent price action in Dogecoin left the tokens market capitalization at $11,249,040,750.29. 423. To date, more than 110 billion DOGE tokens have been mined and stand at a market cap of 49.31billion ($68.39billion). CoinCodexhad a somewhat pessimistic short-term dogecoin price prediction for 2023, saying the crypto could drop to $0.086347 by 26 February before continuing to slide to $0.084913 by 24 March. One thing should be said here, that over the past few months, these incredible price increases have indeed provided opportunities to make money in the short term. Their communities on Reddit and Telegram are also active, although much lower engagement levels are noticeable when compared to 2017. Dans un march trs haussier, cependant, une augmentation massive de plus de 50% est galement possible. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? Presently, Dogecoin is trading above its 200-day simple moving average, and its performance in the last three years is over 3,000%. This may include adverts from us and 3rd parties based on our understanding. While it is generally agreed that Dogecoin can reach $1, the bone of contention is when this would happen. Even the original founders, Jackson Palmer and Billy Markus, stopped working on Dogecoin in 2015. The biggest threat to Dogecoin is one of their biggest advantages: their use case. Owning it now would be a move based purely on speculation. Dogecoin Price Prediction 2023 2025 2030 | DOGE Price Forecast. 2 Joe Cartel Most Dogecoin predictions are bearish. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. While the dogecoin predictions from the likes ofDigitalCoinPriceareoptimistic, sites likeWalletInvestorare more gloomy. Robinhood gets another $100, and his tax rate is the same as Cole's so he keeps $11,340, while Uncle. This amount is over 20 times the global GDP of $87 trillion. The foundation was later dissolved, but it relaunched in 2021 as the coin attracted new investors and the price soared. These include activity on the Reddit thread r/WallStreetBets among the #DogeArmy, the social media hype surrounding #DogeDay (April 20), and tweets from celebrities and brands, including Tesla CEO Elon Musk. And ETH is the runner up at 240-ish Billion. To make the world smarter, happier, and richer. . Dogecoin prices have broken through the $0.50 level but will they go higher? Dogecoin price analysis shows that the coin was relatively stable from 2013 until the cryptocurrency markets took off in 2021. SecuX V20 & W20 Review Is This Hardware Crypto Wallet Safe & Legit. Dogecoin is down 5.83% in the last 24 hours. Bear in mind that past performance is no guarantee of future returns. Good job! we know Dogecoin worth depending on meme and Elon musk exactly doing same with creating memes. Musk referred to dogecoin as a hustle, despite having talked it up in previous weeks. Neil Patel owns Bitcoin. We saw Milky Way, Snickers, Slim Jim, and others tweet support for the cryptocurrency, with the goal of sending the coin to the moon (crypto-talk for a coin that is soon going to rise significantly in price). 2023 BDG Media, Inc. All rights reserved. Will Dogecoin Reach $1? At its height in May of last year, Dogecoin hit $0.64 USD, a price that was much closer to its $1 target price. Markus, who founded Dogecoin with fellow software engineer Jackson Palmer in 2013, told Newsweek via email this week that the market ultimately decides the price. It is difficult to tell. But how realistic are these beliefs? Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up. The dogecoin price took off in 2021 as cryptocurrency markets rallied, gaining popularity on social media and prompting the launch of other shiba inu dog-themed coins. In other words, it would most likely take too much money to push DOGE to such heights. Few days Elon musk changes his twitter bio and add hashtag Bitcoin and 8th February 2021 sources confirm that $1.5 billion worth bitcoin invested by Tesla. I would have been okay with losing the $50.00 (I half expected to), which meant I was pleasantly surprised when I made a small profit. Despite this, enthusiasm is high amongst some in the crypto community who continue to hodl (a deliberate misspelling of hold that refers to buy-and-hold strategies in the context of cryptocurrencies) the joke coin and perhaps theres good reason. Dogecoin's 10,000 Rule Currently, miners earn 10,000 DOGE per block, which happens about once per minute. No, judging by the team activity on social media, github, their own website. Making the world smarter, happier, and richer. 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 current price of Dogecoin sits at $0.085 USD, which is some ways away from its primary goal of hitting the $1 marker. In the next chapter of the Reddit stocks . In this photo illustration of visual representations of digital cryptocurrencies, Dogecoin and Bitcoin, are displayed on January 29, 2021 in Katwijk, Netherlands. The usually conservative Walletinvestor predicts $0.37 price for DOGE in 2022 and $0.55 in 2025. All of this summed up prevents Dogecoin to succeed and rise in price for the long-term. Conclusion: Yes, Dogecoin Can Reach $10. This shows the impact that a Twitter integration could have on DOGE price. John Finn is a technology editor and writer for Screen Rant. Although lower compared to other predictions, both estimates still imply upside potential over the current price. 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. From its current price of just under $0.15, Dogecoin would need to rise more than sixfold to reach the $1 mark. It's currently trading at 5 cents, and Bitcoin at one point in time was worth 5 cents as well and is now $37K.so. Dogecoin is on a mission to get to $1, but the times have changed since that mission statement was first issued, and it now remains to be seen if it will ever reach that goal. Square, and MicroStrategy have also made huge investments in the crypto. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. Recent weeks and months have not been great for cryptocurrencies in general, with many having lost significant value since 2022 began. CoinPriceForecast was far less bullish in its DOGE coin price prediction. This is generally a good sign and portends an even better future. At that time, CNBC highlighted how a $1,000 investment at the start of 2021 would have resulted in a 12,000% return. Can Dogecoin Reach $10? This feature has led some in the crypto space to dub Bitcoin as digital gold.. In spite of this, his Dogecoin is worth about $20,000, and when he sells, he keeps $19,900. The big break for Dogecoin came in 2021 when its price increased by roughly 3,000% over the course of the year. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. The maximum level that the DOGE price can reach is $0.129987. 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. The question "can Dogecoin reach $100," or $1, or any price for that matter, has to do with two things: DOGE's market cap and its mining dynamics. As we know Elon Musk is following Bitcoin and he loves the technology of Blockchain and wanted to start crypto as payment. If you are considering investing in cryptocurrency coins or tokens, we recommend that you always do your own research. To the moon! Will Dogecoin reach $1? There were even some reports the value was closer to $0.19, as I explained for the Deseret News. Dogecoin was created solely as a joke between two developers who never met in person. One of the reasons Dogecoin and other cryptos have suffered in recent months is the instability of the market in general. This would be less than 50% higher than the all-time high of about $0.70 per DOGE. Check out what's holding Dogecoin back of late and whether Dogecoin has a path to . Dogecoin reaching $1 is a distinct possibility. Well Dogecoin would then have a market cap of about $66.3 billion and that would put it at spot number four in terms of market cap. The Newegg endorsement sent DOGE price soaring. 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. Aside from positive cryptocurrency industry sentiment, several other factors have accelerated Dogecoin's recent gains. 306. Even with the relatively high possibility of reaching a dollar soon, the price of DOGE still has a much better chance of doing so than the other popular meme coin, Shiba Inu. The only coin to hit that market cap is BTC, obviously. 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. The one-dollar mark has long been the aim of some members of the Dogecoin community on Reddit, and is becoming a real possibility as this week the price shot up from around $0.13 Thursday morning to around $0.29 Friday morning. The altcoin has an unlimited supply and thousands of new tokens come to market every day. So it's already something you can trade for all sorts of items. George Retweeted. Although Dogecoin is currently at a low point, many cryptos and investments are in the same boat, and it is likely that they will bounce back once things normalize again. But in terms of utility, SHIB, built on Ethereum, has better utility than the Scrypt language-based Dogecoin. Elon Musk continues to teasing Dogecoin 3 times in weeks, so even if prices start dipping then one tweet is enough re-pump. Lets take a look at some of the dogecoin price predictions and find out some more about the coin, too. But the event revealed a fast-growing community around a cryptocurrency that started as a joke. Its all-time high is $0.738, reached in May last year. Dogecoins prices have rallied in 2021 for several reasons. You were way off on that one. But DOGE quickly dropped back to trade at around $0.06 again. Favorable mentions by celebrities such as Elon Musk, Snoop Dogg, and Gene Simmons have also boosted DOGE. CoinCodex is a cryptocurrency data website that tracks 23389 cryptocurrencies trading on 420 exchanges and provides live crypto prices. And it won't stop there. 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. As a cryptocurrency that has utility, strong branding, and is cheap enough for regular folks to afford a single unit of, Dogecoin may prove to be a force to be reckoned with. Many other coins, including Shiba Inu and Baby Doge,have come through and are attracting their own fair share of attentionwhile looking to reach their very own moons. the average trading price will be $0.497. Alright, now what if Dogecoin could reach the 50 cent price again, what would the market cap be ? ", The professor conceded that it was not impossible, however. CRYPTO-SAVVY is an occasional series from Inverse that explains the world of cryptocurrency and where its going next. Copyright 2023 Market Realist. Dogecoin is an inflationary asset, so there is no cap on how many can be made. But some believe there is an even greater potential for gains. 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. Depends on the definition of the moon. That has crypto investors wondering if the. This includes sponsoring the Jamaican Bobsled team to the Olympics, building new wells in Kenya, and sponsoring a car at NASCAR. 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. 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. There are currently about 130billionDogecointokens in circulation today, with 10,000 new ones minedevery minute. Dogecoin isn't capped at a certain amount of coins like Bitcoin's famous 21 million supply. The meme-based cryptocurrency became valued at $69 billion, which made it . Launched in 2013, there are now 100 billion Dogecoin in. *Average returns of all recommendations since inception. As top investing firm like Grayscale, Micro strategy also invested money in bitcoin, so after Tesla Entry Bitcoin could cross $4 Trillion worth soon. End of 2024 - Dogecoin's surge to $0.60 should make numerous investors FOMO and eager to get into the market before the coin . The joke didn't last long for its creators: Markus and Palmer both ended their involvement with Dogecoin in 2015. Additionally, having Dogecoin's merits heavily influenced bywhat Elon Musk tweetsat any given moment doesn't really make for a good investment case. Long Forecast predicts that the altcoin will close 2021 at $0.58, top $0.82 in 2022, and reach $1.31 in 2025. If it can grow that fast in a year, nothing is stopping it from reaching $1. It was not entirely clear what sparked the surge, but the cryptocurrency was mentioned online this week by some high-profile users, including tech billionaire Elon Musk, the "Wolf of Wall Street" stock trader Jordan Belfort and meat snack company Slim Jim. This aged like milk. If the overall crypto market rockets into another mania, Dogecoin could beat all the odds and reach insane heights. Capital Com Online Investments Ltd is a limited liability company with company number 209236B. Inflation might also slow dogecoin rise to $10. These investments simply arent there for Dogecoin. To reach $100 by 2030, Dogecoin would need to have $18 trillion invested in it. 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. Doge May Reach $1 Towards the End of 2021. Eventually, the joke will stop being funny and the project will get delisted and effectively killed by the exchanges. And Venmo's foray into the space puts the company among a growing suite of large institutions that have more recently begun accepting or at least recognizing the value of digital currencies.