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The Motley Fool has a disclosure policy. ErgMaN_2point0 2 yr. ago. The price plummeted to $0.07004 on 12 May as cryptocurrency markets reacted to the collapse of the terra luna cryptocurrency and the US dollar reaching 20-year highs. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. The community has launched several campaigns to drive up the price. Show this thread. Algorithm-based forecasts can be wrong and shouldnt be used as a substitute for your own research. Every $1 that the Dogecoin price were to increase would require an additional $180 billion in 2030. $10 per Dogecoin is also likely within this decade. At a current price today of $0.21, the Dogecoin market cap now has a value of $31 billion dollars. 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. Eventually, the joke will stop being funny and the project will get delisted and effectively killed by the exchanges. Here, we discuss Dogecoin's performance history and answer the question, can the Dogecoin price reach $1? It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. With a steady improvement, the price managed to reach $0.003 by mid of February and further declined to $0.0015 by mid-March. Reasons for Dogecoin to go up and rise in price are scarce. According to Cryptwerk, an online directory that provides information about where cryptocurrency is accepted, only 1,900 merchantsworldwide accept payment inDogecoin. Twitter and. But a look at Dogecoin price prediction could give an idea of this. So investors should be prepared to make losses and never purchase more than they can afford to lose. Mr Fiery tweeted on Monday: "To the MOON! That would mean the market cap would be something along the lines of 1.2 Trillion. Apple User Lost $650k In iCloud Crypto Scam, How Long Are Instagram Story Videos? Andalthough it processes transactions faster andcheaperthan Bitcoin,Dogecoindoesn't even come close to the most valuable cryptocurrency's status in the industry. It has a huge community and it has huge support from Tesla CEO Elon Musk. Image Elon Musk once predicted that Dogecoin would be the currency of the world (and Mars). 2023 BDG Media, Inc. All rights reserved. At a price of 72 ($100), Dogecoin's market value would be in the trillions - comparable to the world's biggest GDPs. Every $1 increase in the Dogecoin price would necessitate an additional $180 billion in 2030. The altcoin also got a boost from more businesses accepting it as a payment option. For comparison's sake, there are more than 200millioncompaniesworldwide, according todata from Statista. Could the price of one dogecoin ever reach $1? But the current market conditions are causing many to reconsider their stance. It's complicated. The altcoin has caught the attention of many investors after its market value recently soared past $50 billion, making it bigger than automaker Ford Motor and almost equal to Jack Dorsey-led Twitter (TWTR). At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. The Tesla and SpaceX CEO has often promoted Dogecoinon Twitter and elsewhere and these endorsements have typically resulted in a spike in the price. #Doge4Amazon Petition. And ETH is the runner up at 240-ish Billion. Dogecoin is designed to inflate, with 5 billion coins being added to the 100 billion surplus each year.This allows Dogecoin to be spent more liberally, without hoarding from early adopters that speculate its asset value from its limited supply. The answer lies in its astonishing returns. As we've seen, this can push the token to new heights, but it can also quickly reverse whenspeculators lose interest. The dogecoin price skyrocketed by 1,234% from April 2021 to peak at an all-time high of $0.7376the following month. John has been covering technology since 2014 and focuses on where tech meets the movie and TV industry. It has a circulating supply of 132,670,764,300 DOGE coins and the max . 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. The spike followed Coinbase IPO that generally boosted cryptocurrencies across the board. The initial hype surrounding an integration of Dogecoin on Twitter has flattened out in recent months. The problem is, every time the price goes up,it seems to drop down again soon after. But, overall, usage is currently quite limited. This is definitely not impossible but highly highly improbable to ever reach this value any time soon. This may include adverts from us and 3rd parties based on our understanding. No one can say for sure. 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. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Prediction: These 3 S&P 500 Stocks Will at Least Double in 7 Years, Can Dogecoin, valued at more than $19 billion and now the world's 12th-most valuable cryptocurrency (as of Jan. 10), eventually, Additionally, having Dogecoin's merits heavily influenced by. 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. Now trading under $1, will dogecoin reach $10 someday? On the other hand, Dogecoin is inflationary and has no supply limit. Although lower compared to other predictions, both estimates still imply upside potential over the current price. If Doge was to reach $10, bitcoin would have to be at $1 million per coin (assuming that their value ratio stays the same, very unlikely). Geopolitical tensions, concerns over inflation, shortages, and other factors have all contributed to a situation where investments of all kinds have been impacted. No, judging by the team activity on social media, github, their own website. A summer rally brought the price up to $0.351 on 16 August but it fell again to $0.1945 on 26 September. This is due to many reasons that we havediscussed in a previous article. Bear in mind that past performance is no guarantee of future returns. One phenomenon seen over the years is the correlation between how much a coin is talked about, whether that be measured by mentions on social media or trends on Google, and its price. Wallet Investorhad a rather gloomy DOGE price prediction, suggesting that it could drop to$0.00699by 21February 2024. 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 . To date, more than 110 billion DOGE tokens have been mined and stand at a market cap of 49.31billion ($68.39billion). You can unsubscribe at any time. 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. Their communities on Reddit and Telegram are also active, although much lower engagement levels are noticeable when compared to 2017. The coin will then continue to rise month by month, and the site says that by the time the year finishes, the price could be anywhere between $7.02 and $8.03. Markus added: "At this moment , many people will trade you a dime and two pennies for it, and you can directly buy from any number of merchants who integrate BitPay or Crypto.com payment platformscompanies like [computer and electronics online retailer] Newegg, [NBA team] Dallas Mavericks, etc. In the world of cryptocurrency valuations, I would say, historically the question is less about 'why?' Remember, you should always carry out your own thorough research before making an investment. So far this . World richest person & owner of Tesla Elon Musk brings Dogecoin into Billion dollar worth crypto. If we are honest, there is not much going on for Doge aside of this welcoming and ardent community. 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. Dogecoin could hybernate its way into the future as a sentimental value that early adopters keep cherishing and using for meme and joke purposes. The DOGE price can be highly volatile, even in the context of cryptocurrency markets, as social media communities often drive large spikes in its value and subsequent crashes that generate mainstream media coverage. DOGE was trading down around $0.30 by the end of May 2021, defying the most bullish dogecoin prediction for the price to exceed $1. How high will dogecoin go? Dogecoin isn't capped at a certain amount of coins like Bitcoin's famous 21 million supply. Since its early days, the community has been vibrant and responsible for several amazing things. That could also drive its price. Learn More. 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. CRYPTO-SAVVY is an occasional series from Inverse that explains the world of cryptocurrency and where its going next. It seems unlikely that. The Dogecoin price is $0.08, a change of 0.47% over the past 24 hours as of 8:42 p.m. Will Dogecoin reach $1? Yes, Dogecoin will reach $1 by the end of 2021: 68.3%. 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. Tuesday morning was a good morning for Dogecoin investors, who saw Dogecoin trade for $0.53 more than half of a dollar, according to Forbes.. Dogecoin's recent rise. From its current price of just under $0.15, Dogecoin would need to rise more than sixfold to reach the $1 mark. So it's clear Dogecoin is having a moment. Most famously, a concentrated effort by Reddit-based traders pumped the share prices of Gamestop (GME's) from just 14.40 ($19.94) on January 11 to as high as 234.67 ($325) just 18 days later. The history of meme coins started with Dogecoin. Lets take a look at some of the dogecoin price predictions and find out some more about the coin, too. Most Dogecoin predictions are bearish. Dogecoin (DOGE) showed an amazing progress back in September when the coin was able to collect major gains due to the Dogethereum demo hype. While individually these small plugs from brands may seem like potentially irrelevant promotions, they can affect a cryptocurrency's price in a big way. Bitcoins supply is limited to 21 million coins, there being around 18.69 million currently in circulation. This was written in November 2020 and you predicted .04 by 2025. SHIB Price Prediction 2023 - 2030. The most crucial part of the game. At its height in May of last year, Dogecoin hit $0.64 USD, a price that was much closer to its $1 target price. Oluwapelumi is a firm believer in the transformative power blockchain and crypto industry possesses to change the global financial landscape. Will Dogecoin ever reach $100? Electronics retailer Newegg recently added dogecoin as a payment option for online purchases. In order to reach $1, Dogecoin would need to increase in value more than tenfold, given its current price of $0.09. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at a moments notice. Since its creation in December 2013, it has risen 42,000% in eight years, so. It would be nearly impossible for Dogecoin to reach $100, because there isn't quite enough money in the whole world. 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. With bearish sentiment taking hold of crypto markets, DOGE traded down to $0.04972 on 18 June, its lowest level since early 2021. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can help give us some much needed context when it comes to either interpreting a dogecoin coin price prediction or making one of our own. it was started with Wall Street Bets reddit investor group has pumped Dogecoin value along with targeting two stocks also and its price jumped as high as 850%. So, although Dogecoin has reached 50 cents per coin before when many people didn't think it would, with the . You were way off on that one. *Average returns of all recommendations since inception. As of9 Februsry 2023, the cryptos price stood at about $0.088,having fallen nearly 90% since its all-time high of $0.7376 in May 2021. As Dogecoin has returned more than 5,000 percent this year, a run-up to $10 might not seem like much to some. The dogecoin community believes the altcoin is worth much more than the market currently values it. However, the impressive price performance was not enough to make it worth $1. And never trade with money that you cannot afford to lose. After DOGE climbed to near $0.16 in late October due to Elon Musk's Twitter acquisition, the price has been mainly bobbing around below $0.10 this year, while the price is now facing further losses. Inflation might also slow dogecoin rise to $10. There are many DOGE skeptics out there, including Mike Novogratz. 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. Cost basis and return based on previous market day close. 2023 Capital Com Online Investments Ltd, losed Joint Stock Company FinTech Solutions. 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. In February, after Musk tweeted Doge and Dogecoin is the peoples crypto, we saw a 50 percent surge in price. 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. That puts a $10 price target firmly out of reach; no matter how many people buy. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. However, Dogecoin still has the potential to reach 1 dollar. The current price of Dogecoin sits at $0.085 USD, which issome ways away from its primary goal of hitting the $1 marker. No, Dogecoin will not replace or overtake BTC. Long-time DOGE holders who adopted the token in its infancy have already enjoyed spectacular gains this year and have broken the 0.36 ($0.50) barrier on Tuesday. DOGE climbed to $0.2819 on 24 October, but turned bearish into 2022 along with the broader markets, remaining in a downward trend with lower highs and lower lows. #DogecoinToTheMoon", Another person said: "I feel like an addict checking #dogecoin price every 30 seconds. The price of DOGE in 5 years could lie around $ 0, according to CaptainAltcoins prediction model. Dogecoin's bull run through the crypto markets is showing no signs of slowing down, with the memecoin breaking new records this week. Let's examine why. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? Let's explain. Dogecoin has a slim chance of succeeding. But while it lacks the dominance of Bitcoinwhich is priced at more than $60,000 per coinexperts say it is still a legitimate form of currency. But that is not likely to happen any time soon. Dogecoin's 10,000 Rule Currently, miners earn 10,000 DOGE per block, which happens about once per minute. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: The price of meme cryptocurrency Dogecoin may continue to rise and could eventually hit $1, its creator and co-founder Billy Markus has said. 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 only coin to hit that market cap is BTC, obviously. 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. So doge would have to grow 5x ETH to hit 10 bucks. At the time of writing, a single dogecoin was worth $0.25, up more than 80 percent in the past 24 hours according to CoinMarkCap data. Can DOGE hit $10? It lacks hard scarcity. For each dollar increase in Dogecoin price, the market cap would need to rise $180 billion. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. What is it about the altcoin? Apple's sales dropped by 5.49% year-over-year in Q4 of 2022. 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? Copyright 2023 Market Realist. So while the answer is probably, yes the coin will reach $1.00, will I be investing again? 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. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. However, always remember to do your own research. 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 meme coin has soared in value thanks to its popularity on social media. The usually conservative Walletinvestor predicts $0.37 price for DOGE in 2022 and $0.55 in 2025. DOGE is the original meme coin, which suggests that it can, potentially, be even more volatile than other cryptos. Robinhood gets another $100, and his tax rate is the same as Cole's so he keeps $11,340, while Uncle. Potential ROI: 58.5% BUY DOGE Price Forecast for February 2023 If the overall crypto market rockets into another mania, Dogecoin could beat all the odds and reach insane heights. 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. 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. Sam Onigbanjo, founding partner at the Capital Markets Academy told Express.co.uk: "Dogecoin is currently at 0.29 ($0.40) and in the short term will overtake 0.70 ($0.50). As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. Fans of the altcoin are trying to get Amazon to to accept it. DOGECOIN traders have rallied once again this week, pushing the meme token past the 0.36 ($0.50) level - but what are the chances of DOGE reaching an even more astronomical 72 ($100) price? At its recent peak, DOGE boasted returns of more than 8,000 percent for 2021. So it's already something you can trade for all sorts of items. The coin rebounded to $0.1716 on 7 February, but was unable to hold at that level. Bitcoin is approaching a $1-trillion market cap, is increasingly becoming a tool todiversify institutional portfolios, andhas a growing set of infrastructure andfinancial products supporting it. CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. But the event revealed a fast-growing community around a cryptocurrency that started as a joke. In other words, it would most likely take too much money to push DOGE to such heights. Ill stick to Bitcoin and Ethereum, thank you very much. There is a possibility for the price of Dogecoin to reach $1 if the previous market performance is anything to judge by. No, our prediction model sees no possibility for Dogecoin to reach $10 in the short or mid-term period. as following that and our prediction we could see Doge crossing $1 USD probably after mid 2021 or in the beginning of 2022. The DOGE rally has prompted a frenzy of memes and tweets from the token's backers. Dogecoin and other cryptocurrencies have been impacted by recent developments, but can Doge bounce back enough to reach its target $1 goal? It then quickly dropped in a sell the news response to Musk appearing on the Saturday Night Live TV show in the US. Check out what's holding Dogecoin back of late and whether Dogecoin has a path to . It is worth considering Dogecoin is an inflationary token - unlike Bitcoin - meaning there is an infinite supply of the token to be mined. The Dogecoin supply is unlimited, and currently, around 130 billion DOGE tokens are in circulation. Making the world smarter, happier, and richer. This gave the coin a market cap of around $11.5bn, making it the 10th largest crypto by that metric, according to CoinMarketCap. The excellent price performance continued until the report that Twitter had discontinued its crypto wallet project. 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. In this video, I discuss what needs to take place in order for Dogecoin to reach new heights and maintain them as well. Unlikely, but who knows. Dogecoin 1-year price prediction (as of November 25, 2022). 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. That contrasted with bitcoins 90 percent and ethers 240 percent. I mean, its shocking to me that GameStop continues to hold any value, Novogratz said. It joins Mark Cubans Dallas Mavericks, car dealership Post Oak Motor Cars, and airline AirBaltic among major businesses now accepting the crypto for payment. The current CoinMarketCap ranking is #9, with a live market cap of $10,057,542,208 USD. I wish I woulda read this article in November or December..MucH WoW!!! In the span of just one year, it became one of the ten largest crypto projects with a market cap of more than $88 billion. Yes. We update our DOGE to USD price in real-time. CoinPriceForecast was far less bullish in its DOGE coin price prediction. Whether DOGE is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. A Psychology graduate from England who now lives in the US, John previously worked in the aviation industry as an airline reviewer. We also believe that Dogecoin's market cap would ever reach $1 trillion. This feature has led some in the crypto space to dub Bitcoin as digital gold.. Currently, there are more than 129 billion Dogecoins in circulation, and each minute 10,000 DOGE are added into the network. The average trading price is expected around $0.119988. It makes a Dogecoin price prediction that says Dogecoin will start 2025 somewhere between $3.48 and $4.09. 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. People may receive compensation for some links to products and services on this website. They include: Dogecoin saw its price rise by about 100% last month after Elon Musk acquired Twitter, with the speculation growing that he would integrate the currency into the platform. 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. It has fallen precipitously since, as the Reddit-fueled meme-stock craze cooled down. The sites dogecoin price prediction for 2030 said the price could reach $0.88that year. founded Dogecoin with fellow software engineer Jackson Palmer, Everyone Practices Cancel Culture | Opinion, Deplatforming Free Speech is Dangerous | Opinion. The @dallasmavs have done more than 20,000 #Dogecoin in transactions, making us the LARGEST #DOGECOIN MERCHANT IN THE WORLD ! Launched in 2013, there are now 100 billion Dogecoin in. But can the moment last? Its use case is already taken up by bitcoin and other more serious projects. George Retweeted. 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. 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. That has crypto investors wondering if the. Dogecoin Price Prediction 2025 and 2030 The long term forecast for DOGE shows that the price will reach long term price stability with a profitable investment opportunity. AlthoughDogecoin(DOGE 0.42%) wascreated as a joke in 2013, with the intention to be a fun competitor to the top cryptocurrency,Bitcoin(BTC -0.03%), little did the developers know that thismemecoinwould absolutely surge in popularity. 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. The majority of retail investor accounts lose money when trading CFDs. Tesla has invested $1.5 billion in bitcoin. This means that dogecoin would equal the entire US currency at $15.60. But the possibility of hitting $10 still seems way into the future. After all, the coin was worth only $0.005 on January 1, 2021, and $0.1715 by December 31. Whether Dogecoincan bounce back enough to finally reach the Moon is unknown, though the possibility shouldn't be ruled out. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. In the long-term (8-10 years), it will most likely drop to 0 or thereabouts. F or several analysts, there is a high probability that Dogecoin will reach $1 per coin. While it is generally agreed that Dogecoin can reach $1, the bone of contention is when this would happen. Can Dogecoin, valued at more than $19 billion and now the world's 12th-most valuable cryptocurrency (as of Jan. 10), eventually hit $1 per token? Dogecoin was back tethering at $0.003 in late 2019. Coin is also still listed on all major exchanges which indicates that Dogecoin is far from a dead project. Lets now cast our eyes over some of the DOGE price history. Of course, even the best price forecasts are still speculations, as the cryptocurrency market is highly volatile. 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. In fact, it is impossible to predict the price of an asset 40 years from now.