There are many cryptocurrencies on the market. But one of them deserves special attention because it has gained immense popularity in a fairly short time. Today, we will talk about the famous Dogecoin, the so-called meme-cryptocurrency. Let’s get to know it in more detail and check the Dogecoin price prediction 2030.
How Does DOGE Survive the Crypto Crash?
DOGE is a fairly old cryptocurrency (2013) that has gained the lion’s share of its audience only in the last few years. The first pump of this coin was observed right after it became popular on Reddit.
Back then, it propelled Dogecoin’s market value to $8 million. Despite the developers’ claims that they had no plans to compete with Bitcoin, at some point in 2014, the trading volume of the meme-cryptocurrency briefly eclipsed Bitcoin and all other digital currencies. In 2017, the currency crossed a new frontier — its market value has already reached $2 billion, and the rate has reached a historical maximum of $0.016.
Since the beginning of 2021, Dogecoin has grown by 1,500%, in early February its capitalization reached $9 billion (then slightly decreased to $6.7 billion). The increased interest in Dogecoin at the end of 2020 and the beginning of 2021 is associated with Elon Musk.
In particular, on December 21, 2020, Musk posted on Twitter: “One word: Doge” and changed the description to “former CEO of the Dogecoin project.” The community appreciated the joke, and the rate of Dogecoin grew. Further, Reddit users, on the hype around GameStop, managed to increase the rate of “meme-coin” by 600%.
Today, DOGE is trading at the highs of early 2021 —$0.06-0.09. Even its drop by 93% couldn’t influence its market rank (#10 according to CoinMarketCap). And now its capitalization is higher than the one of such giants as Polkadot, Avalanche, and Polygon.
Does DOGE Have a Future?
Despite being popular, this crypto doesn’t bring breakthrough value to its users. Therefore, many experts doubt its future.
DOGE Price Prediction 2023-2026
Technical analysis of Dogecoin by CoinCodex as of September 2022 indicated bearish market sentiment for the coin. Its short-term forecast indicates that by the end of 2023, the DOGE/USD pair may fall in price to $0.046758.
The forecast of the analytical service Wallet Investor shows that the Dogecoin rate may drop to $0.0330 per coin by the end of 2022, to $0.00275 by the end of 2023, and to $0.00167 by the end of 2025.
The Dogecoin forecast for the coming 4 years from DigitalCoinPrice, which is based on historical data, suggests that the average price of the token in 2023 will be $0.0838. According to the service, DOGE could reach an average cost of $0.26 by 2025.
None of the resources expects that the coin will be able to overcome the $1 mark in the coming years.
DOGE Price Prediction 2027-2030
Wallet Investor specialists are sure that the community and Elon Musk in particular will soon get bored with DOGE and its price will fall to $0.00157 in 2027.
At the same time, DigitalCoinPrice is more optimistic about the coin. Given it’s a BTC fork driven by the community of seasoned enthusiasts, we can see a great pump up to $0.85 by 2030.
Gov.capital thinks that DOGE will become the first meme-coin that hit the point of $1. Having such a strong fan base, its capitalization can easily reach the highs of 2021 ($40 billion) and hit $100 billion by 2028-2030. However, all this depends on the plans of whales and influencers like Musk and Snoop Dog.
Final Note
Currently, DOGE has two opponents — Shibacoin and Samoyedcoin. As of today, Dogecoin seems to be the strongest among them. The latter two lack outcast fans that can create hype out of nothing.
Anyway, we should be realists and don’t expect it to bring 10,000% profits in a couple of years. But you still should consider adding DOGE to your portfolio for long-term investment. If you decide to do so, visit Godex to enjoy the best rates and anonymous crypto trading.
