Last year Dogecoin (DOGE) saw its price jump into a new record-high territory after a one-word tweet by Elon musk. But with a pullback in Dogecoin price, many investors are wondering if DOGE is a buy right now.

Dogecoin has been a “free and fun” competing cryptocurrency since its inception in 2013. With huge patronage by well-established investors such as Elon Musk and Mike Cuban as well as hype from celebrities (Gene Simmons and Snoop Dog), is the coin destined to soar to new highs?

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On Monday, March 1, 2021, the Dallas Mavericks announced that DOGE will be accepted as payments for tickets and merchandise.

Up 3,200% on a 1-year basis, Dogecoin has surpassed well-known companies such as Avast Antivirus, Healthcare Trust of America, New York Community Bank, Hankook Tire, Park Hotels & Resorts and Shell Midstream Partners in terms of market capitalization (as per data retrieved from Company Market Cap website).

Is Dogecoin an asset that can attain the same status as Bitcoin, Ethereum, Litecoin and Binance Coin in terms of trading price?

On Monday, March 1, 2021, CoinFlip, the largest network of Bitcoin ATMs in the United States, tweeted that “Fans of DOGE can now buy the cryptocurrency with cash at any of its 1,800 locations nationwide”.

Dogecoin provides the same decentralized financed support as other competing altcoins, what makes it so special and what unique benefits does the coin provide its users which have seen it soar in price and popularity in 2022?

Dogecoin has fast transaction and confirmation speed as well as low transaction costs. The asset was designed based on existing cryptocurrencies, Litecoin (LTC) and the now extinct Luckycoin (LKY).

As a result, the developers of the crypto coin mirrored the same features of these coins onto their creation.

Because of this, DOGE uses the same consensus protocol SCRYPT technology in their proof-of-work (POW) algorithm and not SHA-256 which is being employed by Bitcoin.

SCRYPT was designed with the intention of providing a system that does not have to fall into the demands of custom hardware solutions which are employed in Application-Specific Integrated Circuits (ASICs).

With the SHA-256 algorithm, everyday users of personal computers cannot become a part of a coin’s miners. The reason is that the hardware system was tailor-made for the mining of Bitcoin (BTC) and the only way anyone can become a miner is to get the hardware system or join a mining pool.

Dogecoin mirrored Litecoin just like LTC mirrored BTC but it has also found its own uniqueness. Evidently, DOGE’s implementation can be differentiated from Litecoin by several parameters.

LTCs block time is 2.5 minutes while DOGE’s block time is 1 minute. This means that in terms of transaction speed, DOGE is 250% faster than LTC.

Full confirmation for the digital coin can take a maximum of 6 minutes, while LTC takes 15 minutes and BTC takes a whopping 30 minutes.

Being so fast in terms of transaction and confirmation, lovers of this cryptocurrency can use it to securely and quickly send money to anyone anywhere in the world.

The fast transaction speed has led to an increment in the usage of the coin’s network thanks to its accessibility in terms of mining which has seen more vendors accept this token as an option of payment. Many cases of people using computers from their academic institutions and workplace to mine the crypto asset have been discovered.

According to Wallet Investor, “There will be a positive trend in the future of Dogecoin”.

The technical forecast website is of the belief that investing in DOGE now is a good idea because it will remain stable throughout 2022 and end the year with a trading price of $0.44 and could reach $1.12 in 2025.

Digital Coin Price sees Dogecoin DOGE as a profitable long-term investment that will be trading at a price of $0.29 and $0.37 in 2025.

Another factor that makes DOGECOIN a great investment is its extensive usage on diverse cryptocurrency exchanges and brokerages worldwide.

The digital coin can be used in trading physical as well as tangible items on online communities such as Twitter and Reddit where users have extensive chats and arguments about currency-related information.

Popular cryptocurrency exchanges and platforms where Dogecoin can be traded are Coinbase, Coin Switch, Binance and eToroX among others. These are exchanges that receive huge daily trade volumes.

Such high trade volumes are essential for market analysis. As a trader or investor, this data informs you as to the high demand and renewed interests in cryptocurrencies by consumers after the Covid-19 market crash.

Many investors are using crypto as a hedge against unprofitable or risky investments. The demand includes Dogecoin of course.

Dogecoin has also been used for payments in the adult industry, poker industry and surprisingly, was once listed as an option of payment for a real estate property as far back as 2014.

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Dogecoin As An Option Of Payment For Real Estate

A man by name Matt Thompson decided to sell his home for this meme-inspired currency. As an entrepreneur, Matt has been selling gadgets and games online for several years.

At the time, Matt felt he had never sold any product or item of value and perhaps his Wisconsin Vacation Home will be the first valuable property to sell for $135,000 cash.

Unfortunately, Matt’s listing could not result in any leads and this is where he decided to turn to DOGE as a form of payment as he saw great potential in the digital coin. The price of the house when converted from fiat (USD) to crypto was 100 million dogecoins.

As a result of the popularity of the coin and its extensive usage, Matt Thompson further went on to say that “I could use the proceeds of the sale of the property to further my business. I sell video games and their accessories and with the coin’s ease of use, I have been able to buy and sell inventory from diverse places in the world such as China, using the digital currency”.

His reason was that it was safe and easy to use as a result of minimal fees. To date, he continued, “I have found it to be extremely good for supplementing payment methods”. Matt’s story first appeared on the online portal, Cable News Network (CNN).

The DOGECOIN community is strong and helps finance important events. Before the Sochi Winter Olympics held in Russia, funds were raised through DOGE to send the Jamaican bobsled team and Indian Luge contender to compete in the games. More than $30,000 was raised for the two causes.

Such acts of generosity through charity have gradually cemented the crypto’s place in the minds and hearts of fans as a cultural currency that can be used to support less fortunate groups in society.

Upon payment, there are many tools to merge PDF document files.

“Cryptocurrency is really powerful and instead of locking it up for a few people, let’s get everyone in the world on it”, are the words of Dogecoin Foundation’s Ben Doernberg.

According to the European Business Review (EBR), “Given its growing user base, popularity on the internet, love affair with celebrities who are trying to help push the price to new all-time highs and worldwide adoption, Dogecoin may breach the $1 target by the end of 2022”.

According to Trading Beasts, Dogecoin is likely to reach $0.21 in November 2022. It will be trading at a minimum price of $0.18 and a maximum of $0.27 in the last month of the year.

DOGE will trade within a price range of $0.27 and $0.28 in 2022. Dogecoin will be valued in the range of $0.24 to $0.30 in 2023. The analyst further opines that DOGE will have a trade price of $0.32 at the end of 2024.

Dogecoin’s popularity has been reflected in its market capitalization and trade volume. As at the time of writing, DOGE has a market capitalization of $20,822,396,467 with a trade volume in the last 24 hours of $1,192,243,809 and is ranked number twelve (12) on the global markets for cryptocurrencies.

DOGE’s market capitalization is larger than other altcoins and tradable tokens such as PancakeSwap, DASH, Tron, Yearn Finance, Compound and SushiSwap.

With all the hype around Decentralized Finance (DeFi) and its protocols pushing Ethereum (ETH) and Binance (BNB) to new all-time highs in 2021, DOGE has done well by surviving the competition and improving in price since several altcoins have gone bust.

It will only be sooner rather than later that DOGE will fall into the top 10 ranking cryptocurrencies in terms of market capitalization.

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What Is Dogecoin?

On the cryptocurrency’s official website, Dogecoin is a decentralized, peer-to-peer cryptocurrency that enables you to easily send money online. Simplistically, it is internet currency.

Like all cryptocurrencies, it was created to serve as a payment system which is instant, fun and free from traditional banking fees.

Derived from Litecoin’s blockchain, the cryptocurrency uses blockchain technology and this makes the ease of transferring funds directly between individuals and business organizations effective.

DOGE, unlike other cryptocurrencies, has a huge fanbase (loyal community of supporters) who use the coin especially on social media (Twitter and Reddit) as a tipping currency.

The digital coin features the face of a breed of hunting dogs from Japan, called Shiba Inu.

Its ticker symbol is DOGE and Ð is its symbol.

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Who Created Dogecoin and When Did It Start Trading?

Software developers Jackson Palmer and Billy Markus are widely credited as the creators of Dogecoin.

The main proponent of the cryptocurrency is Jackson Palmer, a product manager who worked at Adobe Incorporation’s Sydney office in Australia.

He created Dogecoin in 2013 as a fun currency due to the hype and momentum cryptocurrencies were getting as a result of parent crypto, BTC and other altcoins such as LTC making waves in the financial investments space.

According to Investopedia, “sceptic analytic” is the phrase that is normally used to describe Jackson Palmer as a result of his keen observation of the emergence of blockchain technology and his urge to get in on the action.

Not knowing the buzz which will soon surround his creation, Palmer used social media platform (Twitter) to poke fun at his digital currency until positive feedback from fans led to the purchase of the domain, dogecoin.com.

The creation of dogecoin coincided with the digital currency creation dream of Billy Markus, a software developer at International Business Machines Corporation (IBM) in Portland, Oregon who wanted to add his creation to the altcoins in the decentralized finance stratosphere.

Unfortunately, Markus’ attempt was not achieving any fruitful results after several promotion efforts until he discovered a meme-inspired currency trending on social media.

Jackson Palmer received an extensive software development call to create a real coin (called Dogecoin) by Billy Markus which he accepted.

Billy Markus decided to create a DOGE cryptocurrency that could reach a wider demographic (that wanted to stay free of fiscal policies about money from central governments globally).

Since Bitcoin (BTC) could not reach a lot of people in terms of mining as a result of its reliance on the longstanding SHA-256 proof-of-work algorithm, this meant only a group of people with computers that are compatible with ASICS will have the opportunity to contribute to transactions and block creation. This was taken note of by Markus.

With a feature of “slow transaction speed” associated with the algorithm, Markus decided to opt for a relatively easier way to get more people involved in mining and so chose Litecoin’s SCRYPT algorithm.

SCRYPT has helped provide the coin with a distinctive feature of fast processing speed and confirmation for transactions through the use of DOGE.

Billy Markus has kept dogecoin in competition for over seven years when coins which had great innovative products fell into the category of “dead coins” because of low patronage by investors.

He studied the crypto world extensively and has been able to add a great asset which is changing the way many people go about payments for certain goods and services

Dogecoin was launched on 6th December, 2013 after over a million visitors paid homage to the domain (Dogecoin.com).

Why Was It Created?

Like all cryptocurrencies, Dogecoin was created to help its users send money to anyone no matter their location in the world over an internet network in a quick and secure manner.

Developers of the coin (Billy Markus and Jackson Palmer) had an intention of creating a cryptocurrency that was not only an alternative to BTC and LTC but one which is more friendly and approachable.

Such an approach has been highly invaluable with regards to the accessibility of its mining process which has seen huge support from the internet community.

Dogecoin Community donates tokens to be used in charitable projects which have brought enormous popularity to the digital asset and the team behind it.

Many crypto lovers and market analysts believe such acts of generosity associated with the coin confirms the availability and sustainability of the project.

Where Was It Created?

The idea of a creation of a meme-inspired currency was conceived in Sydney, Australia and has its first fans through the domain (dogecoin.com) which was also created in the same country.

How Many Dogecoins Are In Supply?

There are 131,692,128,947 DOGE in circulation which is the same as the total supply of coins on the market.

Dogecoin: Will It Be A Good Investment In 2022?

Dogecoin to several investors is a cryptocurrency which was created and looks like a joke but has a lot of pros which is worth considering.

It has thrived on its fanbase to compete with other altcoins in the past but mainstream adoption from credible institutions show the potential of the coin’s growth in the long term.

The fact that DOGE is going to form an integral part of the Ren Project on Ethereum 2.0 where it will be used as a stablecoin ($DOGEO) which will serve as collateral in DeFi products sees the progress of the coin into the decentralized finance space.

Adoption by global sports giants in the NBA as an option of payments means there is more room for growth of the coin in terms of its usage by other individuals.

This boosts the image and public acceptance of the coin since its price will not be determined by only its lovers (Dogecoin Community) who are always creating a buzz on social media with the hope of increasing its price.

Such growth in institutional usage will sink into the crypto asset’s price patterns which makes DOGE a coin worth your money in terms of investment.

Like all investments, there is a risk versus reward factor, so thorough research must be done before any form of investments can be made. You must weigh the potential rewards as against the possible consequences of risks.

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What Drives Dogecoins Price?

The price of Dogecoin will soon soar as a result of mergers and partnerships with credible institutions.

At the start of 2021, Dogecoin (DOGE) became available on Ethereum 2.0 network as part of the Ren project.

Ren Project (officially known as RenVM) is a secure network of virtual computers which powers interoperability for decentralization applications (DAPPS) and also enables cross-chain lending, exchanges as well as collateralization.

The Ren project has recently partnered with OpenDAO. OpenDAO enables real-world assets such as real estate, bonds and stocks to be used meaningfully in the Decentralized Finance (DeFi) ecosystem via a transparent, secure, trust minimized, permissionless and automated protocol. Open DAO is owned and controlled by its token holders.

Partnership with Open DAO has led to the launch of renDOGE stablecoin as announced on Open DAO’s official website. This allows holders of DOGE to convert it to renDOGE and from renDOGE TO DOGEO stablecoin on Open DAO’s application.

This has been simplified mathematically as,

Dogecoin + Ren + Open DAO = $DOGEO Stablecoin.

The stable coin ($DOGEO) can be used for Decentralized Finance (DeFi) products such as loans by serving as a collateral.

Chief Operating Officer (COO) of Ren Project, Michael Burgess has shed insights as to how far the cryptocurrency has come thriving on its friendly and approachable appeal by stating that “With another first for RenVM, Dogecoin is no longer a meme coin; it is now a viable financial instrument in its own right, thanks to RenVM and OpenDAO”.

Such strong appeal has transcended to more cryptocurrency exchanges making the coin available for trading.

FTX added DOGE for spot and futures trading and WazirX added the coin for spot trading on 13th January, 2021. Trading of DOGE can also be done at OKEx and Bitfinex crypto exchanges.

Another factor that is driving the crypto is the adoption of the digital asset as an option of payment by the Dallas Mavericks (National Basketball Association).

Chatting with Deal Book (a section of New York Times which discusses how business intersects with culture and policy) on Thursday, March 4, 2021, owner Mark Cuban made it known that “My basketball team and I decided on this because we can. Sometimes in business, you have to do things that are fun”.

Fans of the Mavericks can use DOGE to pay for tickets and merchandise through crypto merchant service provider Bitpay which will go on to increase its usage not only in Dallas but in the whole basketball space.

Its reach and popularity will also soar through the roof since the NBA is extremely popular and is third to the National Football League (NFL) and Major League Baseball (MLB) in terms of revenue.

Major crypto ATM operator CoinFlip announced on Monday, March 1, 2020 in a statement by Chief Executive Officer (CEO), Daniel Polotsky said that “Given its growing popularity and recent mass adoption, we are dedicated to making sure that dogecoin is a part of our portfolio of coins, and encourage further support of this cryptocurrency in the coming months”.

Traders and investors are in luck as everyone can buy DOGE with fiat currency at any of CoinFlip’s 1800 locations across the country.

Dogecoin, like all cryptocurrencies, experiences high price volatility. The crypto asset has done extremely well thanks to a thriving community of investors to outlast almost all the early derivative altcoins.

To be precise, DOGE leapt 3,200% by the end of 2021. What is so important for every investor to note is that the digital asset has increased 25,315.44% in price from a trading price of $0.000232 in 2013 to its current price of $0.14.

An asset with extreme cultural backing such as dogecoin is very difficult to value when compared to other cryptocurrencies and financial assets.

DOGE is here to stay and with mergers and adoption has a huge potential of reaching new all-time highs in the not-so-distant future.

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So, Is Dogecoin A Good Investment?

Dogecoin certainly has a lot of pros that many other cryptocurrencies do not have. The fact that it is faster than both Litecoin and Bitcoin and is getting adopted as such, means that there is a lot of room for growth in Dogecoin and that usually translates very well to the price of DOGE making it a good coin to invest in.

Being adopted by a brand like CovCare is a huge announcement to how far the meme-inspired currency has come. This is because CovCare in February 2021 surpassed 100,000 placed orders.

As the second phase of the pandemic rages on with social distancing protocols at its core, several individuals may have to jump at the opportunity of using the cryptocurrency to purchase personal protective equipment (PPE).

CovCare views the adoption of DOGE from a strategic standpoint. According to the medical supply company “This is a chance to apply radical changes to how the healthcare industry operates”.

As a result of the number of people who need PPEs coupled with the buzz around the coin, there is going to be a huge spike in the number of people using DOGE to pay for supplies and help protect thousands of citizens from contracting the virus.        

Additionally, dogecoin is accepted by over 1000 companies across industries such as crypto, business, gambling, internet and hospitality.

Popular among these companies are global leader for cryptocurrency payment processing (Coin Payments), clothing and fashion company (Park and Finch), communications company (ScrybaSms), online games platform (Playhub Casino), trading and investment services company (Quantum Investment Limited) and online security network (WPSec).

Others include travel, leisure and hospitality websites (Trippki, Greitai, Clube Turismo) and sportswear uniform and accessory companies (Xtreme Spirit & Partner Brands).

This comes with a high usage rate of the coin and this takes into effect the laws of demand and supply. The more demand for a product to be used as an option of payment, the higher the price of that particular asset, and in this case, DOGE.

Dogecoin is a fun cryptocurrency that has made its way into decentralized finance through its stablecoin ($DOGEO) on Ethereum, sports (partnership with Dallas Mavericks) and has been adopted as one of the options for one of the leading companies in terms of medical supplies (CovCare).

It is worth investing in DOGE because it is cheap and will thrive on its usage as well as its fans to move its value in the long term.

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DogeCoin Price Predictions For 2022 And Beyond

According to CoinPedia, the Dogecoin price will compete with other peer cryptocurrencies in 2022. Analysts at CoinPedia believe that “The DOGE coin may even go up in terms of ranking and hit the highest level at $1 by the end of 2022”.

The DOGE digital asset may begin 2022 with a trading price of $0.17 and if it manages to attract the attention of marketers and it’s adopted by more well-established institutions, could reach up to $1. With support from all the major influencers, Dogecoin may hit $0.50 by the end of that year.

With certain developments and collaborations such as Ren and Open DAO in decentralized finance projects, CoinPedia feels DOGE may reach $4.123 and a high of $7.833. Facing several market turbulences and resistance, the coin may end 2025 with a trading price of $5.497.

One of the eminent bloggers on Steemit, Zakaria M., has opined through his blogs that dogecoin will be worth the price of range of $1 to $10 in 5 years time.  

Dogecoin may reach $15 with major integrations and partnerships and has a great potential of outperforming other cryptocurrencies in the market by 2030, is the prediction of Coin Switch.

Should I Invest In DogeCoin?

It is very much worth investing in Doge because not only is it a good and smart choice in the crypto space for its differences, It’s also a coin that is on the very lower side now. This means that there is room for it to hit a higher price.

The buzz around cryptocurrencies and their extensive patronage is not only related to gains and profit margins.

On the whole, as dogecoin has demonstrated, crypto lovers are excited about innovation, freedom of expression, the ability of having a choice and changing what seems to be broken.

Dogecoin is relatively faster than Litecoin and Bitcoin in terms of payment processing as a result of its accessibility. This is highly essential as it solves the scalability issue which is associated with the use of blockchain technology.

There are several companies that have made plans to adopt blockchain but had problems with its slow processing speed which, fortunately, cannot be associated with DOGE.

With credible institutions such as Dallas Mavericks and CovCare certifying the coin as safe and efficient for its business operations, several companies will follow suit and this will in the long term contribute to an increment in coin’s price.

Cryptocurrencies are highly volatile but considering a purchase of 100,000 DOGE will set you back $5,000, investing in this digital asset comes at a relatively cheaper price when compared to other competing coins.

Looking at the current integrations and partnerships and adoptions DOGE started 2021 with, it will be extremely interesting to have the asset on your portfolio for the long term and see where it will take you.

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Dogecoin has to be one of cryptocurrency’s most unlikely success stories. Having started out as essentially a parody of Bitcoin, the meme altcoin has established such a strong following that it is now one of the most talked-about tokens on the market.

In fact, DOGE is in the running to become the first cryptocurrency in space, literally, as Elon Musk’s SpaceX firm has announced that it will launch “DOGE-1 Mission to the Moon”. This is some accolade for a token that started life as a joke.

Some would point out the irony that a token set up to satirize the wild price speculation surrounding early cryptocurrencies like Bitcoin and Litecoin has itself gone on to become the twelfth biggest cryptocurrency in the world, with a total market cap in excess of $20.8 billion at the time of writing. But if anyone is laughing now, it’s the investors who saw DOGE’s potential early on.

Of course, anyone familiar with the cryptocurrency market will know that Dogecoin has experienced something that’s become known as the Gamestop phenomenon. Put simply this is a kind of group dynamic where an online community effectively conspires to drive the price of an asset astronomically high.

But is Dogecoin all hype, or does it have the credentials to compete with the biggest players on the crypto scene? In the following Dogecoin price prediction, we’ll take a look at what the Shiba Inu-fronted token can offer investors in the long term, including a look at its technical particulars and possible reasons for its uber-loyal fanbase.

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Dogecoin – A Technical Recap

Dogecoin might have started as a joke, but its blockchain certainly isn’t without merit. The original blueprint was based upon that of Litecoin, which itself was a refined version of the Bitcoin model.

Like most early cryptocurrencies, Dogecoin is an open-source peer-to-peer payment system that was born in 2013 when Australian Adobe employee Jackson Palmer and IBM developer Billy Markus got together to create a “fun” alternative to Bitcoin as a way of satirizing the nascent crypto hype. Doge famously has a Shibu Inu (Japanese dog) as its logo, an homage to a famous meme, says a lot about the lightheartedness of the project.

Dogecoin bears many similarities with both Litecoin and Bitcoin – it is a decentralized network of computers that process transactions via blockchain technology. The network is powered by its native cryptocurrency, DOGE.

Whereas Bitcoin uses the cumbersome SHA-256 algorithm, Dogecoin followed Litecoin’s example by using the Scrypt algorithm, which allows for a much faster block creation time: 2-3 minutes, compared to Bitcoin’s 10-plus minutes.

Today, Dogecoin’s underlying technology can hardly be considered revolutionary, but to be fair, neither can Bitcoin – and BTC still holds the number one spot with regards to its token value. However, DOGE’s strength lies in the cult-like following it has built since 2013.

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Dogecoin – The Philanthropist’s Cryptocurrency?

Dogecoin’s community has become the stuff of legend in the cryptocurrency world. In fact, it wouldn’t be an exaggeration to say that DOGE’s recent fortunes have been entirely driven by its army of zealous supporters.

In fact, according to a Galaxy Digital Research report, whilst Dogecoin does have “remarkably strong” fundamentals, it is the ever-growing community that is “determined to meme a Shiba Inu-themed global currency into existence.” This is no joke either, as long as Dogecoin remains fashionable, its follower community is enough to stabilize the altcoin within the market.

But whilst many have dismissed it as the “millennials’ cryptocurrency”, the Dogecoin community has actually proved itself as a force for good on several occasions, with the currency being used extensively for philanthropic purposes.

For example, the Dogecoin community famously raised around $30,000 to help the Jamaican bobsled team go to the Sochi Winter Olympics in 2014. This gained a great deal of media exposure and DOGE actually overtook Bitcoin in transaction volumes by mid-January.

Then in February that same year, “Doge4Kids” started – a community-led initiative that raised $30,000 for the 4 Paws For Ability charity which provides service dogs to young people with special needs. The Dogecoin community also raised $50,000 to support a charity that builds clean water facilities in Kenya.

These projects might not have driven Dogecoin’s price to massive highs, but they established DOGE as very much a community-driven coin. As we shall see, this would indeed prove to have a significant impact on the price of DOGE. 

Looking at Dogecoin’s Recent Price Performance

Looking back at Dogecoin’s historical price reveals a pretty flat line – especially when compared to other cryptocurrencies that have been around for as long as DOGE has. Whilst it did benefit from the famous crypto cryptocurrency bubble of 2017/2018, when the price of DOGE reached $0.017, things soon went south when the bubble burst, prompting many to speculate that this dog had had its day.

Between 2018 and 2020, Dogecoin was seen as nothing more than a fashionable coin, lauded by a few hardcore fans but with very little real-world application. However, fast forward to 2021 and DOGE’s fortunes changed – significantly.

In January 2021, following a tweet from Tesla CEO Elon Musk touting DOGE as ‘the people’s crypto’, prices suddenly surged – at one point growing by over 800% in 24 hours and eventually settling at around $0.079 that month. This generated a fair bit of potential for DOGE, but it turned out that this was just the start.

In April, DOGE skyrocketed again to $0.40 – an increase of over 700% in a matter of days. Naturally, this generated a huge amount of interest and it wasn’t long before DOGE was on the move again, this time reaching its all-time high of $0.73 on 8 May 2021.

So what has made Dogecoin such a hot commodity all of a sudden? Well, as we’ve already touched upon, the answer lies largely with the Dogecoin community as well as continued interest from Elon Musk.

The Power of Reddit

At this stage of 2022, any investor who is not aware of the substantial influence that Reddit can exert over the price of an asset is well behind the curve.

The GameStop phenomenon was some of the biggest news in finance for the first few weeks of the year. The beleaguered retailer’s stock price surged from $40 to over $400 in a matter of days, thanks to a group of rebel investors that gathered in the r/WallStreetBets subreddit and decided to play institutional investors and hedge funds at their own game.

Whereas the big investment firms had started short-selling on Gamestop, the Reddit community started buying up the remaining stock en masse, which pushed up prices and left the big fishes unable to close out their positions before they lost millions.

The effect campaign ultimately went viral and it wasn’t long before the crypto world had its own price frenzy – with Dogecoin being the asset of choice. After Elon Musk apparently expressed his support for the altcoin, Reddit lit up with users discussing the potential for ‘the next Gamestop’ which eventually led to Dogecoin’s price going stratospheric.

In April 2021, the r/dogecoin community swelled by 152,928 subscribers in a single week, and at the time of writing the subreddit has over 2.2 million ‘subshibers’ – making it one of the most prominent crypto subreddits there is.

Given the potential of Reddit to drive price growth, this could well continue to be an important factor in DOGE’s future potential as an investment asset.

The Musk Effect

Despite his main business interests lying outside the realm of cryptocurrency and blockchain technology, Tesla and SpaceX CEO Elon Musk was also voted CEO of Dogecoin in 2019 and has since wielded considerable influence over the cryptocurrency market – especially in recent months.

And where Elon treads, it seems that price surges are sure to follow. We only need to look at how his support of Bitcoin sent prices of BTC surging earlier in 2021, when Tesla acquired a significant holding of the original cryptocurrency.

We’ve already discussed Elon’s tweet in January, which prompted a Reddit-fuelled price frenzy. Then there’s his pledge to “put a literal Dogecoin on the literal moon”, sending the price of Dogecoin surging by 30% to $0.70 within minutes of the tweet being posted.

Fast forward to May and Musk has once again put Dogecoin in the spotlight. This time, the SpaceX and Tesla CEO took to Twitter to appeal to developers to come on board and “help develop Doge”. As per the established paradigm, the price of DOGE was on the move soon after Musk’s tweet.

No one could say for sure that Musk’s comments were the sole reason behind the various price surges, but many crypto analysts believe the tech mogul is so influential that he is able to effectively steer prices.

Whilst his comments about DOGE have often sent prices up, it’s worth noting that Musk’s U-turn on Bitcoin has been widely seen as the catalyst that sent prices crashing ahead of the China crackdown.

Few would argue that Elon Musk is a hugely influential figure and his support of Dogecoin could be critical in helping the altcoin to compete with more technically advanced cryptocurrencies.

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Dogecoin Price Predictions: 2025 – 2030

According to our Dogecoin (DOGE) price predictions for the next five to ten years, the meme coin is estimated to have a strong uptrend. Considering the fluctuations in the crypto market. Dogecoin can prove to be a solid investment in the coming years.

Explore our overview for long-term Dogecoin price predictions and find what our forecast reveals about the future DOGE price.

Year	Mid-Year Price	Year-End Price
2025	$2.34	$2.38
2026	$2.42	$2.74
2027	$3.14	$3.47
2028	$3.50	$3.48
2029	$4.43	$4.85
2030	$5.47	$5.59

2025: Maximum expected price of DOGE in USD by 2025 is $2.33.

2030: Maximum expected price of DOGE in USD by 2030 is $5.58.

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Dogecoin Price Prediction 2025

It’s fair to say that Dogecoin has not only survived against the odds but is actually beginning to look like it will be the most popular cryptocurrency of 2021. But what does that mean for the coming years? And can DOGE hold its price based on community spirit alone?

TradingBeasts believes that Dogecoin (DOGE) will perform well in the coming years. With prices increasing steadily year-on-year until the end of 2025. Whilst it is not expected to reach parity with the US dollar in that timeframe, TradingBeasts believes Dogecoin will be trading at a potential high of $2.3952 going into 2025.

Meanwhile, DigitalCoinPrice predicts a little less. According to its technical analysis, DOGE will finish 2022 at $0.21 but will continue to creep up over the next 3-4 years. By 2023 it will reach $2.27 and during 2024 Dogecoin DOGE is expected to reach $2.30, before continuing its upward trajectory into 2025.

Finally, the Economy Forecast Agency is predicting a few turbulent years ahead for DOGE. It has the altcoin bouncing between $3.12 and $3.21 for the next couple of years, before things start to settle into an upward trend in 2024, between $2.18 and $2.28.

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Looking Further Ahead: Dogecoin Price Predictions for 2030

According to Dogecoin price prediction 2030 and long-term technical analysis, the price of DOGE will be worth as much as $5.49 per token by the very end of 2030.

Long term Dogecoin price predictions are difficult to make, as the token relies so much on its community for price movement and no platform can really predict group-led trends. However, they can be useful in giving us an idea about current market sentiment towards DOGE.

A cryptocurrency research firm by the name of Crypto Research Report is calling for Dogecoin (DOGE) to reach $2.4 by 2025, and $5.70 by 2030.

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Conclusion: Should you invest in Dogecoin?

Most Dogecoin price predictions suggest that the altcoin can expect to see significant growth over the coming years. Leading analysts vary wildly on their forecasts – but if even the most conservative predictions pan out, anyone who chooses to invest in Dogecoin could see good returns.

When it comes to investing, Dogecoin is a very unique asset. Whereas some might argue that it has no intrinsic value, others might point out that the community aspect of a cryptocurrency should not be overlooked – and DOGE’s price movement in 2021 would certainly support this view.

Those arguing that Dogecoin lacks the technical credentials to compete with some of the newer smart coins only need to look at Bitcoin, which, despite being comparatively dated when it comes to infrastructure, continued to dominate the cryptocurrency market.

So can Dogecoin do the same? Realistically, no one knows what the future may hold for the cryptocurrency market – new projects continue to appear, countries continue to regulate and investor sentiment continues to change, but it’s just possible that having a strong community will allow DOGE to weather storms that might sink other cryptocurrencies.

If you’re considering investing in Dogecoin, we’d suggest having an adaptable strategy. DOGE’s price is likely to fluctuate a great deal – especially if there are any more comments from Elon Musk or Reddit-fuelled buying frenzies. As such, the old adage of ‘buy low and sell high’ could well be worth remembering when it comes to Dogecoin.

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Where to Invest in Dogecoin

If you do decide to buy Dogecoin, then you’ll need to do so from a crypto exchange that is currently listing the coin. There are plenty on the market, but for most investors, we’d recommend eToro.

The platform has a solid reputation in the world of both cryptocurrency and retail trading, not to mention offering a user friendly and powerful trading platform that can give you instant access to the market. You’ll also find plenty of information to help build your wider trading strategy, as eToro offers plenty of reviews, trading guides and market news.

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FAQs

Is Dogecoin a good long-term investment?

Dogecoin is one of the most popular cryptocurrencies there is, with a famously loyal community and even support from the business and celebrity world. Whilst some traditional investors may dismiss these qualities, others are starting to realize that they may well convert into positive price movement. Dogecoin is a risky investment, there’s no doubt, but it could well be a good buy and hold for the long term.

How much will Dogecoin (DOGE) be worth in five years (2027)?

According to the latest updates, the Dogecoin future price analysis is expected to be $3.40 at least. Dogecoin will be able to achieve the maximum price of $3 before 2027 ends.

How much will Dogecoin be worth in 2025?

In terms of price, Dogecoin has an outstanding potential to reach new heights in the next three years. It forecasts that DOGE will increase in value. According to experts and analysts, Dogecoin can hit the highest price of $3.5 till 2025.

Does Dogecoin have a future?

It seems crypto analysts have consistently tried to write DOGE off as something of a joke, yet the coin continues to survive and has recently been going from strength to strength. Given the commitment of the DOGE community, we think this altcoin will be around for years to come.

Where can I buy Dogecoin?

If you want to buy Dogecoin, then you’ll need to find a broker that lists the token. We recommend eToro for most users, as it’s an approachable platform that has all the necessary regulatory credentials.

Can Dogecoin double my money?

No one can say for sure how a coin’s price will move. We wouldn’t suggest that Dogecoin will double your money, but it’s worth noting that it has been subject to some jaw-dropping price movement recently – so it could certainly provide significant returns for those who buy at the right time.

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Dogecoin has pumped by 65% over the past 24 hours. The meme coin has been one of the top gainers over the past 24 hours. DOGE’s gains came shortly after Elon Musk completed his purchase deal for Twitter.

The price of Dogecoin is still too low, and most people are now wondering if it will ever hit $1. To put things into perspective, let’s look at Dogecoin’s current price and the performance so far.

Dogecoin’s early 2021 surge has left many investors and enthusiasts wondering whether the rally to $1 this year is feasible. The meme-based asset achieved a new all-time high in the second week of May last year, of over $0.73 after recording a 95% over the following week, according to Forbes.

The bull run had taken Dogecoin’s market cap to over $80 billion, which makes it more valuable than big companies like Nintendo and Mitsubishi. Now, the altcoin is ranked the tenth most valuable cryptocurrency by market cap. This places it behind coins like Bitcoin, Ethereum, and Binance Coin in that order.

By the end of 2021, Dogecoin had risen 3200% from a humbling low of $0.005 on January 1, 2021.

Obviously, this growth has spurred hopes of the Dogecoin token rising to $1, probably by the end of 2023.

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Dogecoin Current Price

According to Coindesk, Dogecoin is currently trading at $0.1369 with an all-time high of $0.7376 and a $20.8B market capitalization.

At the current price, Dogecoin is short of about $0.8431 to reach $1.

Although Dogecoin took part in the early-2021 market-wide bull run, its price was still relatively low, and few people ever imagined it would reach as high as it is now. According to Coindesk, Dogecoin was traded at $0.004741 on 1st January, and most predictions back then revolved around the coin reaching $0.1 by the end of last year.

However, the last parabolic growth has proved that the coin could be belting down some major milestones this year.

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So, Will Dogecoin Reach $1

According to the current trend, it looks like the Dogecoin price will cross $1 before the end of 2023.

Dogecoin has proven to be popular among home traders as it continues to rack in community members. The coin is very popular among social media users, especially on Reddit.

This is despite the fact that Dogecoin has experienced greater levels of volatility compared to other mainstream cryptocurrencies. The volatility mostly stems from its online popularity and the frequent mentions from celebrities like Elon Musk.

To understand whether or not Dogecoin might reach $1 in 2023, we would usually have to look at several traditional factors that cut across the board when it comes to evaluating the strength of cryptocurrencies. These include the current price action, use case, blockchain protocols, development team, and the circulating supply.

All these factors apply to Dogecoin and can help us determine whether the coin’s price will keep rising this year. However, Dogecoin has other unique factors that have significantly helped in its growth.

These include the active online community and support from celebrities. If these two parties are consistent with their support for the rest of the year, Dogecoin might hit $1 sooner than we expect.

Additionally, there are several experts who have predicted the Dogecoin coin might go above $1 by the end of this year. For instance, Carol Alexander, a professor of finance at the University of Sussex, expects that Dogecoin will keep rising largely due to the active online community and support from public figures.

InvestorPlace also predicts that Dogecoin might not only reach but also stay at $1. According to the price analysis platform, the huge amount of Dogecoin in supply means more people are likely to invest and help drive its price up. The website also believes that the renewed interest in DOGE will help it reach $1 sooner.

On the other hand, there are also those who believe that Dogecoin will more likely fall than rise after the earlier surge. In an interview with CoinTelegraph, Kadan Stadelmann, a CTO at blockchain solutions provider, Komodo said that Dogecoin would unlikely reach $1 any time soon.

According to Stadelmann, the recent public support and adoption by celebrities like Mark Cuban and Elon Musk should have been able to shoot the price to above $1. Stadelmann believes that Dogecoin only feeds on its fame as a meme, and most people will not seriously consider it the future of money.

In the same vein, Joel Edgerton, who is a COO at cryptocurrency exchange company biFlyer, said that Dogecoin’s practicality as a money-making solution is foggy.

The Dogecoin price prediction in 2030 certainly looks promising as the crypto assets display fairly strong fundamentals for the future.

The positive Dogecoin price predictions for the next decade forecasts that DOGE price might reach the $4 mark.

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Will Dogecoin Eventually Reach $5?

If Dogecoin reaches $1 in 2023, the possibility of it going to $5 in the next two years is very real. According to bookmakers, Dogecoin has a 77% likelihood of reaching $5 in 2025.

With most of its energy coming from social media support and celebrity endorsements, Dogecoin will likely see a lot of volatility before finally going up to $5.

What Will Dogecoin Be Worth In 2025?

Predicting the price of Dogecoin by 2025 is a bit tricky given its high volatility. However, judging from its current momentum, it is obvious that Dogecoin will be much more valuable in 2025 than it is now.

Already, most price analysts have given their predictions for as far as 2025. For instance, Coinpedia predicts that Dogecoin will likely reach $5 in the next five years. According to the site, the coin might even go as far as $7, assuming that it does not encounter any resistance.

Coinpedia believes that the price of Dogecoin in 2025 will be much higher if it embraces more developments and gets more expert endorsements.

On the other hand, Long Forecast is a bit less bullish and predicts that Dogecoin might be slightly above $0.20 by 2025. This means that by the end of 2035, we could expect the altcoin to trade as high as $1.

Digital Coin Price does not provide much in terms of investor confidence. According to the site, the Dogecoin DOGE asset might be trading at around $0.34 by 2025. This is way lower than the majority of the sites which believe that Dogecoin will be at least $1 by 2025.

Wallet Investor is a bit more optimistic than Digital Coin Price. The site predicts that Dogecoin will be trading for as low as $0.68 by 2025. The coin has already surpassed this point and might be trading way above it by 2025.

Overall, according to predictions from most analysts, Dogecoin might go above $1 by 2025. However, given the high volatility, it is possible that the coin might be higher or lower than this level by 2025.

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Conclusion

Most price analysis experts believe that Dogecoin might soon reach $1. However, being a highly volatile asset, we can’t say for sure that it will touch $1 in 2023 or even early 2024.

Already Dogecoin has shown potential for quick growth, and if it doesn’t encounter any resistance along the way, the price will definitely be much higher by the end of the year. So, if you are looking to invest, you might want to buy now while the price is still low.

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New cryptocurrency Rocketize (JATO) delivers a fun and unique concept and may yet hold similar potential in the DeFi sector like established cryptocurrencies, Dogecoin (DOGE), and Algorand (ALGO).

Crypto buyers routinely contest the legitimacy of new DeFi protocols like Rocketize (JATO). They often discover these projects via Discord and Telegram and occasionally without whitepapers, making it challenging for new coins to succeed.

However, Rocketize (JATO) might be heading for what appears to be a smooth beginning in the cryptocurrency market, and like Dogecoin (DOGE) and Algorand (ALGO), can increase your DeFi yield potential.

Here’s why crypto buyers are keenly interested in these three cryptocurrencies.

Dogecoin, Dominating The Meme Coin Sector

Dogecoin (DOGE) is one of the few easily recognizable crypto tokens due to its enormous popularity in the cryptocurrency market.

Dogecoin (DOGE) may have started as a joke of the astronomic rise of the Bitcoin blockchain at the time, but it has now grown beyond its humble beginnings to become a significant digital asset.

The Dogecoin (DOGE) blockchain uses an upgraded Proof-of-Work (PoW) consensus mechanism, allowing quicker transaction confirmation times and lower network fees.

As a result, Dogecoin (DOGE) is frequently used as a payment method in micropayment situations like fundraising and tipping for digital products and services.

Additionally, Dogecoin (DOGE) may be mined alongside other cryptocurrencies using less expensive processors, increasing its accessibility to a wider market.

All these features ensure that Dogecoin (DOGE) is the only meme coin in the list of the top ten largest cryptocurrencies by market cap, sitting 10th with an enormous market cap of $10.3 billion at the time of writing.

According to crypto experts, Dogecoin (DOGE) will continue to dominate the meme market when the cryptocurrency market recovers from the recent 2022 crypto collapse.

Algorand — Delivering Scalable DeFi Functionalities

Algorand (ALGO) is among the most recent names to enter the cryptocurrency market within the last three (3) years. This blockchain is built to support several transactions at once.

Like conventional payment systems such as Visa, Mastercard, or Swift, Algorand (ALGO) can handle thousands of transactions simultaneously.

However, Algorand’s capabilities go beyond just handling multiple transactions. It can also host blockchains and other projects. Its features resemble those of the Ethereum blockchain in many ways.

Algorand (ALGO) ranks among the 30 largest cryptocurrencies by market cap, with a market valuation of $2.3 billion at the time of writing.

Rocketize Revolutionizing the Meme Coin Market

Rocketize (JATO) is a new meme coin with the potential to offer DeFi use cases on a massive scale.

Rocketize (JATO), unlike most other meme cryptocurrencies, has a deflationary burn mechanism whereby a fraction of the total token supply is permanently destroyed by sending it to an inaccessible wallet. By doing this, the Rocketize (JATO) token is set up to appreciate as more Rocketize (JATO) Tokens are mined.

Furthermore, Rocketize (JATO) is home to community members who want to join in managing the platform’s metaverse and custom decentralized exchange (DEX).

Rocketize (JATO) token holders will have governance privileges on major consensus decisions influencing the ecosystem’s upgrades and authority.

Currently, the Rocketize (JATO) token is available via pre-sale, with a 7% bonus on all successful purchases in its ongoing pre-sale second stage. An additional 60% registration bonus is awarded to purchases completed within 30 minutes of registration.

Also, buyers are entitled to 70% and 90% bonuses on their second and third purchases.

Final Thoughts

Following the popularity and success of Dogecoin (DOGE) and Shiba Inu (SHIB), the meme cryptocurrency niche has witnessed a significant increase in value and users (SHIB). The new cryptocurrency, Rocketize (JATO), aims to build on that legacy to deliver greater financial prospects to the cryptocurrency market.

With its DeFi functionality, Rocketize (JATO) has the potential to become the next big cryptocurrency soon.

So why not take advantage of the Rocketize (JATO) token pre-sale and join a potentially remarkable cryptocurrency to earn huge investment returns?

 

Presale: https://rocketize.io/buy

Website: http://rocketize.io

Telegram: https://t.me/RocketizeTokenOfficial