Since its inception in 2013, Dogecoin, the world’s first memecoin, has received a ton of attention from fans, Elon Musk, and more recently, both institutional investors.
Dogecoin retains its position as the pioneer of the memecoin market, building one of the biggest communities in crypto as a result. It was created as a parody of Bitcoin and based on the internet meme, yet it is one of the most valuable assets among cryptocurrencies.
It has also had its price skyrocket in the past and made some individuals very rich, early adopters of the currency. In recent months though DOGE has been unable to reach the previous highs. Still, Dogecoin has attracted many price predictions.
Traders, analysts, panels, and cryptocurrency market participants have used several techniques to forecast what the price of the leading meme coin would be in future. These price predictions range from the extreme, DOGE hitting $10, to the bearish outlook of some.
In this article, we will look at the short-, mid- and long-term price predictions for Dogecoin compiled from different sources. We will also compare it with technical analysis to see where DOGE will most likely trade by 2024, 2025, and 2030.
Dogecoin Overview
Dogecoin is a digital asset that is based on the peer-to-peer system, the symbol of which is a Shiba Inu dog. It was started by two software engineers Billy Markus and Jackson Palmer in December 2013 primarily as a humorous and non-serious version of Bitcoin. They didn’t for a moment think that they were going to make a coin that would become this big.
Dogecoin is a large crypto in 2024 with a market cap of over $15 billion. While Dogecoin was created as a joke to Bitcoin, it derived its code from LuckyCoin, which is an altcoin based on Litecoin. It contains modifications such as the provision of random incentives in the mining of new blocks.
These modifications include a mining method employed on the Scrypt algorithm and no maximum or limit on the number of coins that can be produced.
It has a shorter block time than Bitcoin and Litecoin, making the transaction to be confirmed faster. The Scrypt algorithm enables the Dogecoin network to process faster transactions and at a lower fee than Bitcoin.
Dogecoin not only started what we know as meme coins today, but it has also gotten attention from the likes of Elon Musk, CEO of Tesla Inc, who mentioned that it is his favorite crypto.
It has also been employed in some charity activities outside the crypto space, most notably funding the Jamaican bobsled team for the 2014 Winter Olympics and drilling water wells in Kenya.
Dogecoin Price History and Market Position
Dogecoin was launched in December 2013 at a price of $0.0002047. Three days into its launch, the Dogecoin price climbed more than 500%. After a brief period of profit taking, DOGE stalled out.
For instance in the month of January 2014, the trading volume of DOGE out did even the trading volume of Bitcoin as well as all the other altcoins combined. After some time the Dogecoin was moving at an average price of approximately $0.0003700.
The DOGE crypto price briefly gained ground to cross $0.00100 but lost a zero in the bear market of 2014, dropping as low as $0.0001200 in September.
On May 6, 2015, the Dogecoin price dropped to $0.0000869, its lowest price since its launch. The DOGE price would recover in the following months, reclaiming a zero. However, as it was with many other cryptocurrencies, Dogecoin rallied at the beginning of 2018 and then fell again at some point.
Dogecoin’s price increased at a 339% rate to be valued at $0.032642. Specifically, this boom can be traced back to January 2021 when the chief executive of Tesla Elon Musk spoke about it. On May 8, 2021, with a price of $0.682 per Dogecoin, the crypto briefly attained its all time high since its creation.
Like the rest of the cryptocurrency market, DOGE will fall victim to the 2021-2022 bear market. By mid-2022, its value was more than 90% lower than its ATH at under $0.0600.
However, DOGE has made a rebound in 2024, the current Dogecoin price in August 2024 is around $0.100. Its market capitalization of $15 billion makes it one of the top 10 biggest coins in the crypto market.
What Does the Future Hold for Dogecoin?
As much as it is not possible to accurately guess about the future, through technical analysis and data from the past, one can get a sneak preview into the future. The bulls and the bears, as it is with other assets are the two potential outcomes to consider for Dogecoin.
The Bull Case for DOGE
Dogecoin Price Prediction for 2024
While 2024 has been tagged as a bull year for cryptos, it hasn’t been without its fair share of price dips. However, many analysts still hold an optimistic DOGE price forecast. Below are some of the top predictions for DOGE in 2024.
DigitalCoinPrice DOGE Price Prediction
DigitalCoinPrice is more optimistic about its 2024 DOGE price forecast. After analyzing the market, the minimum and maximum prices DigitalCoinPrice has given for Dogecoin by December 2024 are $0.0961 and $0.23, respectively.
CoinJournal DOGE Price Prediction
CoinJournal is more bullish than the others. Based on their technical analysis gauge displays displaying the moving averages, oscillators and pivots, CoinJournal’s DOGE price prediction 2024 puts the memecoin at $0.45 by December 2024.
Analysts DOGE Price Prediction
Independent market analysts are also very optimistic about the potential of Doge this year. According To WhaleOfCity, the DOGE price could range between $0.180 and $0.200.
Armando Pantoja, a popular crypto influencer, gave a more bullish DOGE price prediction for 2024. Dogecoin could trade as high as $3 in this year’s bull market.
Average Price of Dogecoin By 2024
The Dogecoin price prediction appears overwhelmingly bullish. Based on their forecasts, the expected average trading price of DOGE by the end of 2024 is $0.200.
Dogecoin Price Prediction for 2025
2025 is expected to be the apex of this current bull market. As a result, many analysts expect Dogecoin to rise much higher than its current price.
Coincodex DOGE Price Prediction
The minimum price Coincodex has set for Dogecoin in 2025 is $0.086593. However, based on their Dogecoin price prediction, it could hit a maximum price of $0.432813 in 2025.
DigitalCoinPrice DOGE Price Prediction
The Dogecoin price prediction of DigitalCoinPrice is on the conservative end. They expect the price of Dogecoin to increase only marginally from its current price. DigitalCoinPrice has set a minimum Dogecoin price of $0.23 and a maximum price of $0.27. Based on their Dogecoin price prediction, the average price will be around $0.24.
CoinJournal DOGE Price Prediction
According to CoinJournal, the average price expected for Dogecoin is $1.18. This could be a milestone for DOGE, as the historical data shows that the meme coin has never crossed the $1 mark.
Analysts DOGE Price Prediction
One of the leading crypto analysts, AltcoinDaily, has a very bullish Dogecoin price prediction. Dogecoin’s price will hit $1.9 in 2025, according to AltcoinDaily.
Alan Santana shares a very similar view. He believes Dogecoin’s price will trade between $1.85 and $2.55 in the case of a very strong bull market.
Average Price of Dogecoin By 2025
If the bull market extends deep into 2025, then our Dogecoin price analysis suggests that the average price could be well above $1. However, if crypto markets don’t enjoy a strong bull market, the average DOGE price will be $0.5.
Dogecoin Price Prediction for 2030
By 2030, the crypto market is expected to have gotten more adoption than now. As a result, the Dogecoin price forecast gets more bullish.
DigitalCoinPrice DOGE Price Prediction
According to DigitalCoinPrice Dogecoin forecast for 2030, the Dogecoin price could be between $0.72 and $0.80 by 2030. Their Dogecoin price prediction 2030 sets an average price of $0.78.
Coincodex DOGE Price Prediction
Coincodex is less optimistic about Dogecoin’s price in the future. Based on their Dogecoin price prediction, the leading meme coin could be between $0.086653 on the lower end and $0.2999 on the high end.
This Dogecoin price forecast suggests that Dogecoin prices are expected to fall between 2025 and 2030.
Coinjournal DOGE Price Prediction
According to the Dogecoin price prediction from CoinJournal, DOGE could hit $2.59 by 2030. This means the market cap of DOGE could be above $380 million. Based on the live price from CoinMarketCap, this is more than the market cap of Ethereum.
Analysts DOGE Price Prediction
The Dogecoin DOGE price prediction of analysts is more bullish. Cryptopolitan expect Dogecoin to be valued above $10 by 2030. Vara is even more bullish. The crypto influencer expect Dogecoin to be more valuable. They believe that if you buy Dogecoin now, you can be a millionaire by 2030.
Average Price of Dogecoin By 2030
The crypto market is expected to have reached a greater level of stability by 2030. As such, the Dogecoin forecast is more bullish. While Dogecoin’s price will be at an average of $2 by this time, we should expect less volatility, even from meme coins.
Technical Analysis for Dogecoin
Looking at the charts, there are signs that the price of Dogecoin could be headed to trade higher in the short and mid-term. Firstly, DOGE is printing a strong Doji candle on the weekly time frame. This will turn the focus to the bulls putting in a lot of buying pressure.
Also, the DOGE is trading above the 200EMA. It is also battling to stay above the 100EMA. There is also a breakout above the long-term accumulation channel. Last but not least, the RSI of DOGE is below 45, meaning that the currency has enough scope to bounce back.
There are several signs pointing towards the fact that a bullish move may be imminent and fundamental analysis re-enforces this view. While meme coins outperformed the other cryptos this year, Dogecoin continues to lead this market.
So, while the maximum level set by some analysts are extreme, technical suggests that Dogecoin could trade at a new all time high soon.
The Bear Case for DOGE
There are also negative sentiments for Dogecoin, just as there are many positive sentiments. Some negative Dogecoin DOGE price prediction are for the short term, while others are more long-term.
Dogecoin Price Prediction for 2024
Although many experts believe this to be a bullish year, there are still bearish predictions for DOGE this year.
Coincodex Dogecoin Price Prediction
Coincodex doesn’t see the current Dogecoin price increasing very much this year. Therefore, the Coincodex price prediction for 2024 can be categorized as bearish. They have set a minimum price of DOGE at $0.078, with a maximum price of $0.106. This implies that the value of Doge can drop more.
Why Some Analysts Are Bearish About DOGE’s Future
The main reason why several analysts are bearish about the future of DOGE is because of its status as a memecoin. They hold such a notion because it does not have the same advantages that the other leading cryptocurrencies have, and thus the price may fall even further.
But over the years, DOGE has disproved most of these theories, time and time again, setting new records.
Events That Affirm the Bullish Dogecoin DOGE Price Prediction
Below are some macro trends that confirm the bullish predictions given for Dogecoin.
Institutions Embrace the Meme
A recent report by crypto exchange Bybit revealed a surprising trend. Institutional investors are now investing in memecoins. Institutional investments in SHIB, DOGE, and PEPE are currently up 226% from the end of February to mid-March and they now hold $204 million in those tokens.
Just as it was with Bitcoin, more institutional investors holding DOGE will increase the acceptance and adoption of the memecoin. This could help in a big way to push for the lifting of the price of DOGE.
Calls for DOGE ETFs
As the leading memecoin, there have been calls for Dogecoin ETFs. This could have a potential of change the fate of Dogecoin and the creation of new potentialities. This will help Dogecoin attract more investors, rise in adoption and make the price of DOGE go higher.
Rising Accumulation of DOGE
Dogecoin is enjoying its biggest period of accumulation since the 2021 bull run. If the same trend is repeated, then the price of DOGE could go on a massive price surge. In this case, the most bullish Dogecoin DOGE price prediction could happen.
Bottom Line
Dogecoin started as one of the many meme coins but rose to be one of the most popular and active crypto coins. Going by the price forecasts for the years 2024, 2025, and 2030, there could be some major upward trends for trends. But as always, it is better to do your own research and promptly react to the news that happens in the world of cryptocurrencies.
Dogecoin Price Prediction FAQ
Does Dogecoin Have a Future?
There are several opportunities for Dogecoin in the future. The rising institutional adoption and calls for DOGE ETFs suggest that the use of the memecoin will only continue to grow into the future.
Will the Dogecoin Price Go Back Up?
By the opinions of numerous market analysts, it is possible to presume that the price of Dogecoin will start to rise soon.
When Will Dogecoin Reach New All-Time Highs?
Dogecoin’s current ATH is $0. 682. Still, it will take Dogecoin until 2024 at least to reach a new all-time high.
How Much Will Dogecoin Be Worth in 2025?
Price projections from various analysts suggest that the price of the Dogecoin in 2025 may be between $0.086593 to a high of $2.5.
How Much Will Dogecoin Be Worth in 2030?
Using the possibilities of the development of the cryptocurrency market, Dogecoin may reach $10 by 2030. However, since the market is expected to be more stable, the prices of DOGE will be an average of $2.
Is Dogecoin a Good Investment?
Using the historical data available, Dogecoin has been a good investment in the recent past. Dogecoin increased from its initial price by over 18,000%. Hence, it has outperformed many crypto assets.
