Dogecoin never ceases to amaze investors with price jumps. April 2021 was marked by another surge in traders’ activity – Doge grew by 590% in two weeks, partly due to Elon Musk again. If we compare the rate with the indicator a year ago, then it has increased by an incredible 20,000%.
What will happen to dogcoin longer? The editorial staff of Profinvestment.com analyzed the course, forecast and prospects of Dogecoin (DOGE). All information is tentative in nature – it is impossible to predict exactly how the course will turn and at what point in time it will happen.
Read also: Dogecoin Trading Exchanges (DOGE).
DOGE token price to USD
DOGE to USD chart
Dogecoin (DOGE) to Tether (USDT) chart
DOGE / USDT chart on Binance:
User history and attitudes
Dogecoin is a meme currency that emerged in 2013. Her Jackson Palmer made digital currency as a joke, taking as a logo the then popular meme – the surprised face of a Shiba Inu dog. Then no one could have imagined how far this would go. Now there are almost 130,000,000,000 DOGE in circulation, and the coin ranks fifth in terms of market capitalization (due to the increased rate, it has risen very sharply to the top).
For the first four years, the price remained extremely low. For example, in May 2015, the ceiling was $ 0.0000869. And only in 2017, the cryptocurrency suddenly began to gain power.
Many analysts expect new records from dogcoin in the near future, since interest in this cryptocurrency does not wane, and this applies not only to young people, but also to influential investors and popular personalities. There is a petition for the Amazon marketplace to accept Dogecoin as a payment method, and it already has 140k signatures. Elon Musk has repeatedly referred to himself as a Doge fan and often mentions her on Twitter.
As interest grows, it is logical that more and more people will see investment potential in dogecoin. This is where the opinion that this cryptocurrency can become one of the most influential in the world comes from.
Other factors also affect the course. For example, Newegg, a large online electronics and computer store, announced the addition of a method of paying for goods in the dogcoin cryptocurrency. And in March, AS Air Baltic Corporation allowed buying tickets for Dogecoin. True, at the time of payment, the cryptocurrency is automatically converted into euros.
Of course, this has bolstered the community’s confidence in the DOGE coin.
- Dogecoin storage wallets.
- How to mine Dogecoin.
- How to earn dogcoins.
Dogecoin price prediction
DOGE remains one of the cheapest cryptocurrencies despite the fact that its rate is actively growing. Affordable cost expands the circle of potential investors, and the more investors, the higher the cost rises. However, it is difficult for experts to make a prediction of the Dogecoin price – too much depends on the interest of the community and the influence of social networks. The cryptosphere is now in the spotlight (its growth plays a significant role in this, which has been going at a dizzying pace since 2020). This leads to the emergence of new investment opportunities.
Some experts are skeptical about all this and call cryptocurrency a bubble that is about to burst. But there is another side – crypto advocates are confident that this is our future, and those who join now will be rewarded in the coming years. Speaking specifically about Dogecoin, 22,000% growth over the past year is not something every coin can boast of. But will she keep going in the same direction?
Dogecoin forecast for April 2021 from Currency.com exchange analysts:
Let’s see what the experts think:
- Analysts at TradingBeasts are convinced that DOGE will grow in the coming years. In 2021, coins should range from $ 0.41 to $ 0.42 in 2021. By 2023, Dogecoin could go up to $ 0.64, and by 2025 – up to $ 0.72.
- Analytical platform WalletInvestor provides a forecast with a faster development – $ 0.7 in May this year. For 2022, the exchange rate is expected to be at least $ 0.8.
- According to a fresh forecast from the PrimeXBT exchange, after a breakout in 2021, 2022 and 2023 will be characterized by a bearish phase, after which the cycle will repeat. Another breakthrough is to be expected in 2025. Ultimately, it is possible from two outcomes – either a complete loss of interest and depreciation of the coin, or overcoming the $ 1 level and further growth.
- Zakaria M (a popular blogger on the Steemit platform) has long argued that DOGE will cost $ 1 within 5 years, and now things are moving towards that. The blogger also added that $ 10 is a possible level, taking into account how actively the use of the coin is.
The educational portal Trading-Education suggests that the Dogecoin rate in 2021 will fluctuate between a minimum of $ 0.42 and a maximum of $ 0.75. If this happens, it will be the most successful year in all eight years of the existence of this cryptocurrency.
In general, none of the experts name exorbitant figures. All of these indicators are easily achievable if public interest is maintained. At the moment, the bullish rally of the asset is not over yet.
As for the long-term forecasts for Dogecoin, they are also very optimistic. According to Trading-Education:
- $ 0.48 in 2022
- $ 0.60 in 2023
- $ 0.73 in 2024
- $ 1.14 in 2025
- $ 1.17 in 2026
- $ 1.07 in 2027
- $ 2.22 in 2028
Italian think tank Previsioni Bitcoin is also optimistic about Dogecoin’s long-term prospects. According to him, the DOGE price will reach $ 1 before 2022.
Messari analyst Ryan Watkins also expressed confidence in his Twitter that Dogecoin is moving towards $ 1, although a few months ago he could not even think that the capitalization would reach $ 50 billion.
Cryptanalyst-macroeconomist Alex Kruger wrote about the same: “I did not believe that in this phase of growth DOGE would reach $ 1. Now I believe. This is a good lesson. “
Altcoin Sherpa, a renowned cryptanalyst from Twitter, said that the coin is capable of a lot and he is going to postpone its sale.
Both the entire cryptocurrency market, and specifically Dogecoin, now look quite strong and aimed at new achievements. Probably the most exciting question for users is whether DOGE will hit the $ 1 mark. It is impossible to say with certainty how everything will be, but in the opinion of most experts, yes, it will, but it is unlikely this year. In addition, this point may turn out to be a resistance point that the asset will not be able to break through for a long time. One of the options is to perceive dogcoin as a long-term investment asset, since almost no one doubts its prospects for the next 3-5 years. Unfortunately, a more rapid increase in prices is hampered by such a factor as unlimited emission.