Dogecoin Price Prediction. $1 in 2022?
Despite the encroaching cold of another crypto winter, Dogecoin is outperforming altcoins and the community is as bustling as ever. Does it mean DOGE can still reach $1? In this updated Dogecoin price prediction 2022 and beyond, we try to see what opinions there are about the future of DOGE.
Dogecoin Price Prediction 2022–2030
- A short-term Dogecoin price prediction 2022 is on the more bearish side. There are still opinions that it can break through up to $1 this year, though;
- Views are split on whether and when can DOGE reach $1. Some say 2022, others put the target farther to the future, in 2025 or even 2030;
- Bearish Dogecoin predictions put the lower bounds at $0.1, ruling out the possibility of a drastic crash.
What is Dogecoin?
Dogecoin (DOGE) is a cryptocurrency, built on Luckycoin (a fork of Litecoin) code. Jackson Palmer joked about it on Twitter in 2013, and Billy Markus helped to code but they never expected Dogecoin to become this successful.
Dogecoin is a Proof-of-Work cryptocurrency, meaning that its blockchain is propagated and secured by mining. Dogecoin is merge-mined with Litecoin, using the same hashing algorithm scrypt.
In 2014, Dogecoin found its niche in tipping. Over the years, the meme went out of the spotlight and initial developers abandoned the project.
Dogecoin stayed afloat thanks to the people that formed one of the most welcoming and devoted communities in crypto. You can read more about Dogecoin in our beginner’s guide.
Dogecoin Price History
2013–2016
The Dogecoin price journey can be divided into several periods. The peak soon after the launch on December 6, 2013 can be explained by the coin’s novelty, meme value and a concrete use case.
Back then, its value quickly rose to 228 satoshis or $0.001964 from a starting price of $0.000603. Soon after the pump receded, things started to look grim for Dogecoin.
Prior to 2017, its value used to grind against fourth-place decimals of a dollar for years. A pump in early 2016 took the price up from $0.0001481 to $0.0004551, but it didn’t last for long.
On average, the DOGE price in 2016 and 2017 was a bit higher than in the two previous years. It can be interpreted as a sign of Dogecoin somewhat solidifying its positions.
2017–2019
2017 was a year that changed a lot for cryptocurrencies, including Dogecoin. With more listings and rising interest in the whole market, Dogecoin got involved in more trading.
Its price spectacularly soared in sync with Bitcoin in early 2018 to $0.018773 USD. The opening price for 2017 was $0.000223 USD, and the closing — $0.008972, an increase of 4000%.
This would not be the last time Dogecoin price followed BTC’s, like in August of the same year. In 2018, DOGE established a consistent price range around $0.002–$0.003.
2020–2022
Since mid-2019, Dogecoin has been trading sideways, while still under the influence of general market trends (bullish rally and crash in March 2020, for example). Time and time again, experts expected the accumulation trend to resolve in a new pump.
The first time their predictions came true seemed to be in July, 2020. However, this was not a result of some technical or fundamental change.
Dogecoin became really popular with Investing TikTok, a slew of the viral video app user base dabbling in stocks. DOGE doubled in price to $0.00448, and after returning to the old range near $0.003, Dogecoin rose to that high again only at the close of 2020.
In 2021, though, Dogecoin went up in a way that can only be described as vertical. First, DOGE was influenced by the Bitcoin rally (again) and rose to $0.012 in January.
Around the same time, billionaire Elon Musk started mentioning Dogecoin more often than ever. He would sporadically tweet about Dogecoin in 2019 and 2020, but the frequency of posts led everyone to believe he shills the coin.
By February, Dogecoin was picked up by the WallStreetBets movement to previously unseen heights. Dogecoin renewed its ATH seemingly every month, until it reached its peak at $0.7376 on May 8, 2021.
In 2022 so far, we can see the trend across the market in which cryptocurrencies are stuck in a downward channel. Dogecoin did not become an exception to this, and is 80% down from its ATH.
At the time of writing, Dogecoin ranks 11th by market capitalization. A single DOGE is worth exactly 1 DOGE… or $0.1408, if we’re being serious.
Now let’s look at the most impactful reasons DOGE can swing either way, and after that, what predictions experts give, based on that.
What Can Influence the Price of DOGE?
Internet Popularity
Time and time again, Dogecoin is remembered for what it is: an approachable and accessible altcoin. The meme origin also helps build the image detached from the stereotypical stock and cryptocurrencies, making it even more approachable.
The TikTok and WSB pumps picked DOGE up for these reasons exactly. This factor is by no means fundamental but history shows it surely makes an influence on the price.
Not to mention that in early 2021, Dogecoin would be frequently mentioned by Elon Musk. The effect was observed even when Musk bought a 9.2% share in Twitter, which seemingly has no direct connection to DOGE.
Increasing Market Exposure
The trading volume has increased significantly during the last two years. More exposure means both more opportunities to buy the coin and more awareness.
DOGE pairs are dominated by crypto pairs, which used to be a problem, since it wasn’t easy to purchase DOGE with fiat. These days, your best option is to buy Dogecoin with BTC and USDT, and stablecoins are accommodating capital at an avalanche-like rate.
Dogecoin trading massively boosted the revenues of Robinhood brokerage. However, the broker has not had crypto withdrawal for a while, and has a history of halting trading during peak volatility.
Dogecoin Adoption
If we are talking about mainstream adoption outside the crypto market, Dogecoin is doing well. According to the statistics provided by Cryptwerk, the number of merchants and payment gateways that accept it is steadily growing.
At the moment, there are 2,054 points of purchase where you can buy goods and services with DOGE registered with Cryptwerk. A year ago, it was only 1,330.
After roughly eight years on the market, the data suggests that Dogecoin has led the crypto tipping use case. Dogecoin advocates are holding out to the hope now that Elon Musk owns a share in Twitter, he may make the Twitter team more inclined to include DOGE in the Twitter Tip Jar feature.
Dogecoin on Twitter
Elon Musk purchasing a share in Twitter gave him the right to propose ideas, such as Twitter Blue membership for DOGE. The community seems to have even more creative ideas, though.
Users note positive changes in DOGE usage and trading. With The meme coin there was no other way for the number to go up.
The Dogecoin Twitter also discusses the Radio Doge initiative: a way to transmit Dogecoin transactions without Internet connection. Particularly, they want to use radio signals and the Internet network Starlink (and it all comes back to Elon Musk, again).
Dogecoin Price Prediction 2022
CryptoNewsZ analyst David Cox is sure that DOGE won’t break out of the downtrend by the year’s end. More precisely, the strongest resistance will be met at $0.17 and the low on the downside will move to $0.11.
Algorithmic forecast service WalletInvestor is pretty vague on the target for closing 2022. The lower bound of range is at $0.168 but the upper bound is only slightly more at $0.313.
Leave it to YouTube to give a bullish perspective! The Think Smart Brother channel hosts are confident that upcoming announcements will take Dogecoin to $1 and even beyond in 2022.
DOGE Price Prediction 2023–2024
Analytics service Trading Beasts has a moderately bullish forecast for Dogecoin in the next few years. 2023 will open with DOGE at $0.1678 on average and close somewhere between $0.1953 and $0.2872.
As is typical for Dogecoin, Long Forecast claims that volatility will keep being a factor in the DOGE price. After slumping for a while, in 2024 the price will keep floating around the same levels as now: lows will move to $0.10 and highs will reach $0.18.
Dogecoin Price Prediction 2025
Based on historical data, DigitalCoinPrice predicts that Dogecoin will be worth something between $0.25 and $0.34 in 2025. Highest monthly average price is expected at $0.35 in February, while the lowest average can be expected in June: $0.26.
Economy Watch writer and analyst Connor Brooke gives a rough target at $1. This would take a 610% increase in current price but given how DOGE pulled off much larger strides, this is very easy.
Algorithm of CryptoGround does not usually include volatility in the picture and operates with averages. As a result, in their projections, DOGE will accumulate enough value to be worth $0.5077 in 2025.
Dogecoin Price Prediction 2030
As for the distant future, not many analysts feel up to the task of predicting. Using existing price data, Coin Price Forecast tries to predict that DOGE will not see much growth: only up to $0.39.
A more bullish scenario is painted by PricePrediction.net, in which they give a range of $2.74 and $2.82 for DOGE in 2030. Given the time period and DOGE’s potential, this is far from far-fetched.
ChangeHero’s Dogecoin Forecast
In the words of Messari’s Ryan Selkis, “Dogecoin will continue to rock because legends never die”. It started as a meme and quickly became a gateway currency for the crypto-curious, celebrated for its light-hearted community.
By 2022, Dogecoin managed to stay close to the top-10, despite its lack of action after the revival. There are significantly less voices now that claim DOGE can go up to $1 soon, but in the long term it still seems like a feasible target.
How to buy Dogecoin with ChangeHero?
The fastest and easiest way to get Dogecoin is to swap it with other cryptocurrencies on ChangeHero:
- Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your DOGE is on the way to your wallet.
ChangeHero’s customer support is available 24/7 in the chat on the website or through the email: support@changehero.io.
Good to go? Then snag these DOGE hassle-free and continue to Do Good Every Day with the friendliest crypto.
Conclusion
Dogecoin made shocking strides in price thanks to being embraced by retail investors. With a meme stock fad dying out, Dogecoin will have to suck up the blow to the price and start building value.
Stay tuned to more content in our blog and our updates on Twitter, Facebook, in Telegram or the subreddit!
Frequently Asked Questions
What is Dogecoin?
Dogecoin is a Proof-of-Work cryptocurrency that gained prominence for its approach to building community. It also enjoys exposure brought by Elon Musk but is not lacking other merits such as supportive community.
Can Dogecoin reach $10?
None of the cited opinions are bullish enough to claim $10 for DOGE is realistic or feasible anytime soon.
What will Dogecoin be worth by 2022?
Different sources put Dogecoin 2022 targets in a wide range between $0.11 and $1.
What will Dogecoin be worth by 2025?
Some analysts predict Dogecoin will rise in value up to $1. Lowest estimate for DOGE in 2025 is put at $0.25.
What will Dogecoin be worth by 2030?
As such long-term forecasts are imprecise, the targets given for Dogecoin in 2030 vary from $0.39 to $2.82.
Disclaimer
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.
