Dogecoin has had a robust community behind it since its early days. Wallet Investorhad a rather gloomy DOGE price prediction, suggesting that it could drop to$0.00699by 21February 2024. 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. If it's worth 127 billion, adding $5 billion will increase the value so of 127 billion is (For example) making doge worth $200 then raising the cap increases the value due to the amount of Fiat that goes into it. Yes, Dogecoin is a PoW coin that can be mined with the so called merged-mining techniques. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? This is due to many reasons that we havediscussed in a previous article. Depends on the definition of the moon. But the event revealed a fast-growing community around a cryptocurrency that started as a joke. Lets take a look at some of the dogecoin price predictions and find out some more about the coin, too. | BTC Price Analysis, Laxmi Coin Price, Launch Date, ICO, How to Buy Laxmi Cryptocurrency, Pi Network Price Prediction 2023, 2025, 2030, 2040, 2050, Bittorrent (BTT) Coin Price Prediction 2023, 2024, 2025, 2030, 2050, Cardano (Ada) Price Prediction 2023, 2025, 2030, 2040, 2050, Bitcoin SV (BSV) Price Prediction 2023, 2024, 2025, 2030, 2050, Maker (MKR) Price Prediction 2023, 2025, 2030, 2040, 2050. So far this . 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. Image Electronics retailer Newegg recently added dogecoin as a payment option for online purchases. Digital Coin Price sees DOGE topping $0.55 in 2022 and hitting $0.99 in 2025. 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. 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). World richest person & owner of Tesla Elon Musk brings Dogecoin into Billion dollar worth crypto. This amount is over 20 times the global GDP of $87 trillion. A look at the 4-hour chart of Dogecoin (DOGE) reveals that the price formed a bearish chart . Every $1 increase in the Dogecoin price would necessitate an additional $180 billion in 2030. So will Dogecoin reach $1? Why Dogecoin, Sandbox, and Terra Luna Classic Plunged Today, I Don't See These 3 Cryptocurrencies Rebounding Anytime Soon. Apple's sales dropped by 5.49% year-over-year in Q4 of 2022. So, for $100 per Dogecoin, the total . Then there was April 20 (aka, 4/20, National Marijuana/Weed Day) which this year an army of Dogecoin advocates on social media declared as Doge Day. The idea was that by using hashtags like #DogeArmy, #DogeDay420, and #Doge420, they could help propel the value of the coin upward towards the lofty goal of $1 per coin. For Dogecoin to hit $1, it will need to hit a market cap of $130 billion, which is around 3x from its current price point. 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. You were way off on that one. ", Join half a million readers enjoying Newsweek's free newsletters. After all, the coin was worth only $0.005 on January 1, 2021, and $0.1715 by December 31. CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. Since its creation in December 2013, it has risen 42,000% in eight years, so. 423. Please note that some links on CaptainAltcoin.com are affiliate links. All of this summed up prevents Dogecoin to succeed and rise in price for the long-term. The biggest threat to Dogecoin is one of their biggest advantages: their use case. Now, there is no category that would gain at 30% per annum for 40 years in a row. 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. There are currently about 130billionDogecointokens in circulation today, with 10,000 new ones minedevery minute. Remember that past performance is no guarantee of future returns. Dogecoin and other cryptocurrencies have been impacted by recent developments, but can Doge bounce back enough to reach its target $1 goal? In February, after Musk tweeted Doge and Dogecoin is the peoples crypto, we saw a 50 percent surge in price. 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. 2023 Capital Com Online Investments Ltd, losed Joint Stock Company FinTech Solutions. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised by the Securities Commission of The Bahamas with license number SIA-F245. Im not the only one, right?". But there are some: one advocate and enthusiast is entrepreneur and investor Mark Cuban, who announced in March that his team, the Dallas Mavericks, would begin to accept the coin as a form of payment. And it won't stop there. Making the world smarter, happier, and richer. CoinPriceForecast was far less bullish in its DOGE coin price prediction. Unlikely, but who knows. Only a handful of exchanges and brokers support the altcoin now. An Amazon endorsement would generate an even much bigger boost to the meme cryptocurrency. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. 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. On Monday, April 19, Dogecoins market capitalization (equated by multiplying a coins current price by its circulating supply) hit $50 billion for the first time, with the coin itself hitting an all-time high of $0.45 made possible by surges of roughly 500 percent from the previous week and roughly 5,000 percent since the start of the year. This was due to support from influential people such as Elon Musk and Mark Cuban. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. Currently, there are more than 129 billion Dogecoins in circulation, and each minute 10,000 DOGE are added into the network. *Average returns of all recommendations since inception. Check out what's holding Dogecoin back of late and whether Dogecoin has a path to . While it's fair to say that anything is possible in the cryptocurrency world, the likelihood of Dogecoin reaching $1 is pretty slim in my opinion. But institutional investor in DOGE is comparatively minimal and that is one factor holding it back. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com. This gave the coin a market cap of around $11.5bn, making it the 10th largest crypto by that metric, according to CoinMarketCap. Also, considering that the coin has made roughly 5,000 percent gains in the past year, its not ridiculous to assume that the coin could triple in value (or more) in due time. 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. 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. This feature has led some in the crypto space to dub Bitcoin as digital gold.. He told Newsweek: "I would be very surprised to see DOGE coin hit $1, mostly because of its extremely large and inflationary supply schedule. Fans of the altcoin are trying to get Amazon to to accept it. The most crucial part of the game. Let's explain. Alright, now what if Dogecoin could reach the 50 cent price again, what would the market cap be ? It joins Mark Cubans Dallas Mavericks, car dealership Post Oak Motor Cars, and airline AirBaltic among major businesses now accepting the crypto for payment. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. Tesla has invested $1.5 billion in bitcoin. More info. Presently, Dogecoin is trading above its 200-day simple moving average, and its performance in the last three years is over 3,000%. ; Aragons; Azrbaycanca; ; Bn-lm-g; ; ; Catal; etina; Dansk; Deutsch; 306. So it's clear Dogecoin is having a moment. 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. Dogecoin is slowly dropping below the market cap positions it was in 2017, with no particular interest and real world use cases in sight, aside of sporadic utility in charity tipping. No, Dogecoin will not reach $1 by the end of 2021: 31.7%. 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. Dogecoin continued its trade at $0.002 during the start of January. 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. It is fair to say, that after the massive bull run, Dogecoin became one of the most popular cryptos in the world, rubbing shoulders with the likes of Bitcoin and Ethereum. The dogecoin price skyrocketed by 1,234% from April 2021 to peak at an all-time high of $0.7376the following month. According to our long-term forecasts, Dogecoin will reach $0.12 by the end of 2023 and $0.21 by the end of 2025. In 2021, Dogecoin (DOGE) pulled off one of the most impressive bull stories in crypto history, gaining over +12,000% between the start of the year and its May all-time high peak of $0.738. Box N-4865, Nassau, Bahamas. Dogecoin price reached an all-time high of $0.45 in April 2021. The live Dogecoin price today is $0.075808 USD with a 24-hour trading volume of $552,330,883 USD. Since there's no supply limit, the only way for Dogecoin to reach $1, or go beyond, is when there's a considerable difference in the amount of money being injected and the coins being mined. This lack of a supply cap is one more reason why some people are skeptical of the cryptocurrencys massive rally and worry that people buying it will ultimately lose big. Here in the UK, the Financial Conduct Authority (FCA) warned: "If you invest in cryptoassets, you should be prepared to lose all your money". 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. 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. Before 2021, the token existed on the fringes of the crypto space, with only the hard-core community members paying attention to it. This is reflected in our 2023 predictions. Ultimately, though, this is a question that you will have to answer for yourself. Another 5 billion coins are created every year to combat lost wallets. By Sarah Smith, Editor-in-Chief, InvestorPlace.com Jan 28, 2021, 8:13 am EST.