In other words, its not just Dogecoin, its the entire crypto market. The cryptocurrency is likely to reach a minimum price of $0.0640377 and $0.0941731 on the upper side. 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. The bullish movement is expected to continue throughout the year. Taking a longer-term view, by 2025 Coinswitch expects Dogecoin to range between a low of $0.0281 and a high of $0.0450. A recent rise in the price of Bitcoin followed by a period of consolidation is prompting more retail investors to look at altcoins. Dogecoin hit its maximum price a few days ago, reaching a high price of 73 cents. Will Dogecoin future price moves be equally dramatic? The trend has now retraced . After starting the year at $0.0056, the coin quickly rose to $0.07 in February, $0.40 in April, and $0.73 in May, only for it to crash and lose 75% of its value in the space of a few weeks. Sign up for a daily update delivered to your inbox. However, a major one is a seemingly ever-increasing positive cryptocurrency industry sentiment and, in turn, increasing prices of the coins themselves. So will Dogecoin reach $1? Here's How to Change the AI Asssistant's Voice in Your Apple Devices. But his tweets have worried some investors, given their apparent ability to move markets. Dogecoin gained 50 per cent in the space of a few hours on February 4 to reach a price of $0.05. The value of Dogecoin has soared by 774 per cent against the US dollar in the year to date. Do Not Sell My Personal Data/Privacy Policy. Other adopters include Latvian airline airBaltic, electronics retailer Newegg, and luxury resort group the Kessler Collection. In early January, each token was worth less than one cent. In short - yes, it is absolutely possible. In 2024, dogecoin will be trading above the $0.11 mark on the higher side. Dogechain beginning the voting process for its coin burn fueled a bullish sentiment among DOGE holders. The combined value of the cryptocurrency market climbed above $1tr in January for the first time, as Bitcoin traded at a record high of $41,941.56, according to data from CoinMarketCap and CoinGecko. During the month, the price will hit a high of $0.0773880 and a low of $0.0526239. Delivered Wednesdays. One simply called Meme launched in August at $1 and now trades at over $2,000. Shop your favorite products and well find the best deal with a single click. The material provided on this website is for information purposes only and should not be understood as an investment advice. About two months later, on April 15, he said, hebecame a dogecoin millionaireon paper. If you rely on the information on this page then you do so entirely on your own risk. Elon Musks series of tweets is one of the highest drivers of the dogecoin price increase. Top 5 Best Cloud-native Disaster Recovery Solutions in 2023, AI to Take Center Stage in 2024 Election; Experts Warn of the Tech's Effect on Voters, China's Algorithm-Based Tech Could Evade US Hypersonic Defenses! This then catalyzed a series of huge leaping upward gains; the coin moved from five. ", Amazon drops 4% on slowing cloud growth projections. In eliminating three zeroes, one of the most-popular digital currencies on the planet gained more than 37,000%. Since then, Dogecoin has dropped and been turbulent. 2023 TECHTIMES.com All rights reserved. Daniel Van Boom is an award-winning Senior Writer based in Sydney, Australia. However, we cant be ruled out a full reversal. All Rights Reserved. On the other hand, Dogecoin is inflationary and has no supply limit. Even if DogeCoin was only briefly over 60 cents, it's still a new milestone in DogeCoin's miraculous 2021. Investorscould get burned, so they should invest only what they can afford to lose. In June, the price is expected to reach $0.0754225 and hit $0.0512873 on the lower side. "People are buying the cryptocurrency, not because they think it has any meaningful value, but because they hope others will pile in, push the price up, and then they can sell off and make a quick buck. On February 8th, 2021, the price of dogecoin hit the highest price of $0.082605. As of January 26, Dogecoin cryptocurrency was available on the Ethereum network. On that note, Dogecoin will likely continue to mimic Bitcoin's performance for the foreseeable future (as does almost every other altcoin). Fast forward to August 2021, and you will have to fork out a hefty $0.35 for the very same coin . Tesla CEO Elon Musk is Doge's highest-profile supporter, and histweets related to the cryptocurrency tend to lead to a jump in its value. Coinbase. Created in 2013, DogeCoin was the first such memecoin. Dogecoin price is expected to be bullish all through up to 2025. The good news is that this figure is certainly not out of the realms of possibility, especially if Bitcoin and the cryptocurrency industry as a whole can continue with its current trajectory for the rest of the year. The year 2020 was good for cryptocurrencies. In January, crypto traders fantasized about DogeCoin hitting 10 cents. While . "Hey guys I just became a Dogecoin millionaire," the user said, showing a balance of $1,081,441.29 in their account. So while the answer is probably, yes the coin will reach $1.00, will I be investing again? The digital currency originally based on a meme - Dogecoin - has taken the world by storm over the past twelve months. The campaign managed to drive dogecoin's price up by 50 percent in 24 hours and 95 percent in one week. On a per capita basis, there were 14.6 gun deaths per 100,000 people in 2021 - the highest rate since the early 1990s, but still well below the peak of 16.3 gun deaths per 100,000 people in 1974. Analysts at Arcane Research said in a recent note: Bitcoins sideways price action is giving room for altcoins to thrive. In January 2021, the volume on decentralised exchanges surpassed its previous all-time high reached in September 2020. A break to the downside could slump to a $0.045 zone. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. 2023 CNBC LLC. In September dogecoin price will increase to a high of $0.781554. The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. Dogecoin is one of the cryptocurrencies that have grown significantly. Besides his dogecoin memes, he has announced himself as the unofficial CEO of dogecoin. The top cryptocurrencies by market value, including bitcoin and ether, are plunging on Tuesday amid a sell-off. He even namedSpaceX's 2022 moon missionDOGE-1. "I can't pass up a good bargain," Contessoto said. According to an online forecasting website Wallet Investor, DOGE could double again from the $0.05 level to reach $0.10 later this month. But even after a nearly 10% price spike Tuesday from about 46 cents to around 50 cents per coin dogecoin is still trading well below the levels it hit just before Musk . Well continue to monitor the situation closely and were sorry if you were impacted. For instance, Elon Musks tweets have significantly affected the price of dogecoin. Dogecoins prices have rallied in 2021 for several reasons. 2023 BDG Media, Inc. All rights reserved. There are several reasons why deflationary currencies like Bitcoin BTC/USD might never be used as money. It's not the first time dogecoin has seen a wild climb. Between his savings and borrowed funds, Contessoto said, he invested over $250,000 in dogecoin on Feb. 5 when it was priced at . First, the coin does not (as of now) have many real-world applications. It has since found a growing community online. Like many cryptocurrencies, it has a tendency for volatile swings in price. If you're familiar with cryptocurrency, you know Bitcoin and maybe Ethereum. The minimum is forecast to be $0.0521378. ", "This is doubly the case in the crypto markets where a small group of players often hold a huge chunk of the total number of 'coins' in circulation. appeared first on InvestorPlace. Similarly, the site expects dogecoin to reach $0.0766733 in July. Ultimately, dogecoin is expected to grow in 2021 through 2024. On the other hand, if everything continues to come together and the stars align as it appears they might, then who knows? Some reports have attributed the latest dogecoin rally to support for the meme-based token from Tesla CEO Elon Musk. While Im not offering financial advice here, all things considered, the short answer is probably, yes. Positive, growing sentiment surrounding the cryptocurrency industry as a whole (in just the past few weeks, DOGE, BTC, and ETH all hit all-time highs), a community of passionate Dogecoin supporters, and plugs from tastemakers like Elon Musk all could drive the price up higher. In fact, it has hit an all-time high within the first two months of 2021. 2023 Tech Times LLC. According to DigitalCoinPrice's Dogecoin price estimate for 2030, the coin might hit $0.90 that year. The value of dogecoin, a cryptocurrency originally invented as a joke, surged to an all time high of over 50 cents Tuesday, a landmark as enthusiastic online traders continue efforts to push the . The projects latest developments: will DeFi drive adoption of Dogecoin? Capital Com is an execution-only service provider. DOGE reached the one-cent mark briefly at the beginning of 2021 and then shot to five cents in February. We want to hear from you. Dogecoin spiked from around 65 cents before the 5:05 p.m. tweet to just under 75 cents by 6:40 p.m. Traders have poured money into Dogecoin this week ahead of Musk's SNL appearance, in . pCloud Pass: the New Top-Notch Security Password Manager for All Logins [Review]. On Thursday, Musk posted a cryptic tweet saying "Doge Barking at the Moon," likely in reference to the popular crypto slang phrase "to the moon.". Built by software engineers Billy Markus and Jackson Palmer during the early Bitcoin craze and featuring a "mascot" of the then-popular meme featuring a Shiba Inu dog, the coin was originally conceived as a meta-joke about monetary value and the internet. If a big 2017-esque crash is waiting around the corner, then $0.01 would be a better price prediction. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. Interestingly, Musk is widely touted to be the "Dogefather" as he frequently mentions the cryptocurrency and engages with its community of users. One of the most promising aspects of fundamental analysis is the growing popularity among A-list celebrities. Brokerage platform eToro announced support for dogecoin Monday, citing client demand. The bullish movement has pushed the market cap to $10.7 billion. The Dogecoin forecast from digitalcoinprice.com is more bullish, predicting the price will average $0.073692 in March and reach $0.081293 by the end of 2021. eToro alone has 20 million users, who can now easily buy DogeCoin through its platform. In other words, more investors are likely to continue buying dogecoin, pushing prices even higher. The price is expected to hover around $0.0608258 towards the end of the month. The charts will have an uptrend to trade over the $0.12 mark, although the typical l ups and downs will be present. Sign up for our free newsletter for the Latest coverage! FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. No. While the rest of the economy dipped, most cryptocurrencies prices increased or maintained their prices within the range. There are many others, and they're preposterous. Musk posted a tweet last week that referenced The Dogefather and his upcoming hosting gig on Saturday Night Live May 8. Investors who bought in will have ended up nursing some nasty losses. Some argue that Dogecoin does not stack up when compared to tried and tested digital currencies like Bitcoin. Even Morgan Stanley and Goldman Sachs will reportedly soon offer clients the opportunity to invest in Bitcoin and other cryptocurrencies. If the price falls, it will find support at the $0.075 price level. All jokes aside, Doge's crypto community acts as a central pillar to its success, and if it is to make it to $1 before the year is out, it will need all of its unsung community heroes to do their part online. Should it? 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. Others are "memecoins," which rise and fall in popularity simply because they're kind of funny. Additionally, trading platforms eToro and Gemini listed the memecoin, drastically expanding its reach. TradingBeasts predicts that Dogecoins price will pass $0.081 in January 2022. Dogecoin is 88.99% below the all time high of $0.74. In other words, the vast majority of those who purchase the coin do so in an attempt to benefit from price fluctuations. Thus, whether or not Doge can make it to $1 comes down to how well the cryptocurrency industry performs from here on out. A Division of NBC Universal. So it arguably isnt in the same league as Bitcoin, and is, in turn (according to some) not a wise long-term investment. As the world ambassador to Dogecoin (CCC:DOGE-USD), crypto investors are at the edge of their seats, anticipating a DOGE name-drop. And in 2021, it hit 200 sats, before correcting to approximately 100 sats," Chrysochou says. Tesla has started accepting Bitcoin payments for its cars and now holds some of the digital currency on its balance sheet. This Section / Page contains links to the 3rd party websites of our top partners from whom we may receive compensation. DigitalCoinPrice. On the higher side, the cryptocurrency will cross $0.12 in September and continue the bullish movement to close the year at a maximum price of $0.12444. Dogecoin has experienced high price volatility like any other cryptocurrency. [+] dogecoin token--far above the mere fraction of a cent it began 2021. Now, defying all odds, dogecoin is worth $40 billion, and its price has risen by a whopping 400% in the last seven days. But its growth has not been any joke. Dogecoin price predictions are heating up this week ahead of a huge weekend for the coin as well as a potentially huge weekend upcoming. Yes, while many publications make fun of the fact that Dogecoin is, in fact, just a meme coin, the truth is that this sort of publicity attracts more widespread attention, curiosity, and intrigue around the digital currency which leads to more investors jumping on board. On Friday, a Reddit user posted a picture of their dogecoin holdings on the Robinhood investing app. Aliasgar Merchant, lead developer of relations atAkash Network, a decentralized cloud platform, said the current trend reversal for Dogecoin seems sustainable, and the memecoin can easily hit the 50-centmark before the end of the year. In just the past hour, the price grew by 0.32%. Putting aside this aforementioned focus on the cryptocurrency and its hype value, lets look at Dogecoin through a more traditional lens. With that said, the question on many doge fanatics' lips is, "can Doge hit $1 in 2021?". It started out as a joke. His rants, however, have also gotten him in trouble. Even if DogeCoin was only briefly over 60 cents, it's still a new milestone in DogeCoin's miraculous 2021. Cryptocurrencies have experienced seismic growth in the recent past. The current price is $0.0814 per DOGE. While the price is currently in a downtrend, it is prudent to wait and see how the price will behave around this point. Dogecoin's skyrocketing price has led to worries of a potential bubble in the cryptocurrency market. Mastercard and Visa are trying to streamline crypto payments on their networks. Benzinga does not provide investment advice. At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. To be precise, it has leaped about 774 percent year to date against the US dollar. Bitcoin hit a record high of more than $64,000 on Thursday, while ether briefly topped $2,500 for the first time Friday morning. But Dogecoin's tendency toward inflation ranks it among the best cryptocurrencies over the long term, Lian says. This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. The price was up 36% from the previous day and has risen 95% over the past week. All rights reserved. If you look into Reddit, Facebook, Twitter, and other social networks, you will see that Doge has the second-largest followings after Bitcoin. Investors can likely sit tight knowing that while there will be more, and others will come and go, DOGE will forever be the original.". Just over a week ago, Musk tweeted, "Doge Barking at the moon, which boosted the coins price some more. I would have been okay with losing the $50.00 (I half expected to), which meant I was pleasantly surprised when I made a small profit. Will Dogecoin reach $1? The success of crypto depends on users and adoption. DigitalCoinPrice is definitely bullish in this currency: based on historical data, the website forecasts DOGE crypto's price of $0.17 in 2023, $0.21 in 2024, and $0.31 in 2025. While 2021 saw the highest total number of gun deaths in the U.S., this statistic does not take into account the nation's growing population. For instance, Nigeria, the second-biggest bitcoin market in the world, has banned the use of cryptocurrencies. The trend has now retraced to what seems like a minor pullback. Somewarn investors to be especially cautious when investing in dogecoinin particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. Dogecoin, the cryptocurrency that features the face of a Shiba Inu dog as its logo, has surpassed 10 cents for the first time. The virtual currency, which originally started as an internet parody . InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 2023 Capital Com SV Investments Limited. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. Recent endorsement from high-profile individuals has swayed the joke cryptocurrency. Very few people actually "use" the currency for much of anything, which means that the coin's valuation is solely dependent on the market and public sentiment. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This user, for example, is one of many bullish Dogecoin fans who believe the asset will reach the 50-cent mark before the next weekend is out. Now, with dogecoin trading around 17 cents, he continues to buy the dip. Anndy Lian, book Author of "NFT: From Zero to Hero" tells Benzinga that Dogecoins price action has a history and is closely linked to Musk. Do Not Sell or Share My Personal Information. While all cryptocurrencies are volatile in nature, dogecoin has been subject to a greater deal of volatility than more mainstream tokens, including bitcoin and ethereum, buoyed on by its dual identity as a meme. There's no doubt that Dogecoin will reach 50 cents per coin before 2022 ends. Over the years, veterans of the Doge ecosystem have been fighting its corner against trolls, critics, and FUDders alike, preaching the good word of the dog meme currency. has rallied by a staggering 56% over the past 24 hours and has more than doubled its price in the last week, amid Tesla chief E lon Musk . ", But, Kimberley added, "when everyone is doing this, the bubble eventually has to burst and you're going to be left shortchanged if you don't get out in time. The use of Dogecoin has evolved beyond a fun meme on social media. Finally, for Doge to hit $1, it's absolutely imperative that sentiment around the project remains high and that media publicity stays overwhelmingly positive. Currently, there are more than 129 billion Dogecoins in circulation, and each minute 10,000 DOGE are added into the network. HSBC names 4 Chinese stocks set to benefit from the trend. . 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. Firstly, the coins market capitalization surpassed $50 billion today. Blockchain.com Needs Cash As Valuation Plunges 70%: Will VCs Back The Struggling Startup? In the first two months, the price of Dogecoin and other cryptocurrencies like bitcoin has proliferated. Dogecoin, worth around 7 cents today, would still have to more than double in value relative to . According to the trading beast forecast, Dogecoin will open the year at a $0.0954633 maximum price and trade at a minimum of $0.0649150. However, 2021 seems quite promising. All rights reserved. To say this cryptocurrency had a wild ride over the past year would be a gross understatement. In 2018, dogecoin's pricebegan rising in tandem with other popular digital currencies. 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The Dogecoin protocol is based on the now-defunct Luckycoin, which was a fork, or spinoff, from Litecoin (LTC). Dogecoin has been no exception to the frenzied interest in these digital assets. TradingBeasts further forecasts that the cryptocurrency will be traded at $0.0613386 at the beginning of the month and close the month at $0.0619104. The altcoin hit a record 69 cents Wednesday morning, flying past its previous high of 43 cents back in April.
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