Dogecoin is a decentralized digital currency based on peer-to-peer technology allowing users to transfer money online. Interestingly, the “Doge” internet meme led to the creation of Dogecoin.
The live Dogecoin price today is $0.054616 USD with a 24-hour trading volume of $676,614,365 USD. Dogecoin is up 0.97% in the last 24 hours. The current CoinMarketCap ranking is #19, with a live market cap of $7,042,668,329 USD. It has a circulating supply of 128,948,608,768 DOGE coins and the max. supply is not available.
What Is Dogecoin?
Dogecoin (DOGE) is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. The open-source currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.
How do you mine Dogecoin?
Dogecoin mining differs from Bitcoin’s proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin either solo or by joining a mining pool. A Doge miner can mine the coin on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged.
What can Dogecoin be used for?
Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. You can get tipped Dogecoin by participating in a community that uses it, or you can get your Dogecoin from a Dogecoin faucet. A Dogecoin faucet is a website that will give you a small amount of Dogecoin for free as an introduction to the coin so that you can begin interacting in Dogecoin communities.
How can you buy Dogecoin?
You can buy or sell Dogecoin at any exchange that offers the coin, store it on an exchange or in a Dogecoin wallet, and tip Dogecoin in any community that accept Dogecoin. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.
Dogecoin technical analysis and price history (2013-2020)
Born in 2013, Dogecoin was slow in the beginning. The $3.5 million market capitalization was not worthy of the market’s attention. However, within a few months, it began its upward trajectory and grew exponentially.
The second-year Dogecoin prediction was disappointing as Dogecoin hit new lows and felt the pain of a market-wide downturn. Also, it faced immense competition from new coins, including Stellar, Neo, and Monero.
Jackson Palmer, the co-founder of Dogecoin, quit Doge, which didn’t bode well for the coin. The year saw much negative press about Dogecoin, and many analysts predicted the death of Dogecoin.
The year 2018 was bearish for the cryptocurrencies, and Doge was no different. The altcoins went down significantly in few months. The recovery saw the Dogecoin trade near the $0.017 level, but bullish Dogecoin predictions were short-lived as the price touched a low of $0.002 and remained there for an extended period.
Dogecoin traded in a strict range of $0.002 to $0.005 for most of the year. It gained steam at the end of 2020 when Bitcoin was touching new highs.
Market predictions for Dogecoin price 2021
The technical picture of Doge price is nothing but sizeable green candlestick patterns. The price increase has been meteoric and relentless, giving no room to the sellers. In April 2021, Wallet Investor has a price forecast of $0.0587 USD. By the end of 2021, Dogecoin is one digital currency that is expected to touch $0.0623.
CryptoGround analysis reflects a bearish future trend for Doge. The price will touch $0.004 in 2022, which will accelerate towards the $0.0126 range by the end of 2025. However, the platform does not explicitly state the reason for such a bearish Doge price.
CoinLinker is expecting that in the future Dogecoin might touch $0.0869 USD in the year 2025.
A famous Steemit blogger, Zakaria M, predicts a price of $1 for Dogecoin in the coming five years. Like most platforms, this price level is a reasonable price movement considering the current uptrend of Dogecoin DOGE.
Another bullish outlook comes from TradingBeasts, who is bearish on the Dogecoin price in the future. They expect the price to move towards $0.006 in 2021. In the year 2025, Dogecoin might reach $0.005 on the charts.
DOGE Price Forecast – Crypto’s Verdict on Doge Price Prediction for Next 5 Years
Dogecoin Price Prediction 2021
The year 2020 has not been kind to cryptocurrencies in general. Most coins have touched the nadir of their lifetime, and Dogecoin price is no different. But on 8th February 2021, the extraordinarily bullish Dogecoin forecast turned even more positive after Dogecoin got support from Snoop Dogg, Kevin Jonas, and Gene Simmons. The immense celebrity support for Dogecoin has propelled its market cap to fresh highs by completely ignoring the overbought technical indicators in the cryptocurrency.
Its rising use in mainstream payments will increase its adoption among the masses. Dozens of online retail merchants and platforms, including AllGamer and eGifter, now accept payments in Dogecoin. Dogecoin 2021 is in an overextended bull run powered by sheer volumes from day traders, institutional investors, celebrities, and DOGE whales.
There’s no doubt that the unprecedented celebrity support for Dogecoin is likely pushing DOGE/USD past every resistance level. The Dogecoin price prediction of achieving the $0.1 level by the end of the year 2021 may happen sooner than expected in the wake of current events for Dogecoin price prediction. As people realize its practical value and DOGE‘s mainstream importance, Dogecoin might pick up the pace later in the year.
From Reddit, we can see a more realistic minimum price of $.07 to $.25 with this rejoinder, let’s see that one dollar coin lol. To the moon boys! The most hopeful is two dollars for the end of 2021. Optimistic, but a great possibility. There’s a general feeling that more and more companies will adopt this cryptocurrency. The maximum price for DOGE cryptocurrency from this community is $6. Don’t take it as investment advice though.
Doge Price Prediction 2022
Dogecoin news is looking up as it has a lot going on for 2022. as there is a lot of bullish momentum to carry forward the current bull run. There may be corrections on the way, but the overall weekly and monthly charts are tuned for new highs in the future.
The technical analysis and fundamental picture are giving out the positive sentiment. The broader crypto market support can further reaffirm this optimistic Doge price predictions 2022. As per the current cryptocurrency market action, the coin is likely to go full steam ahead and charge towards the $1 coin milestone by the end of 2022.
Multiple technical studies, including the extended Fibonacci retracements, show that Dogecoin’s price might touch as high as $0.09 by December 2022. 2022 is also expected to feature much more positive news for Doge. Most importantly, such a jump in the Doge crypto price will attract institutional investors that may further bolster the prospects of touching $1.
The year 2022 will also witness the rise of Dogecoin whales as large cryptocurrency investors jump on the bandwagon. Just like BTC whales, these newfound Doge whales will help set up the long-term support, and resistance pivot points that are evident in every mature asset’s journey.
Dogecoin Price Prediction 2023
The year 2023 can see the coin price entering the big boy’s turf. It may very well prove to be a pivotal year for Dogecoin as it cements its upward journey beyond $1.5. Technically, the 161.8 percent Fibonacci extension puts Dogecoin at a $1.45 level by the end of 2023. However, the long-term forecast is often overshadowed by fundamental news. Hence, it is safe to assume that Dogecoin price in 2023 stands between $1.35 to $1.45.
When such long-term price prediction studies are being undertaken in a cryptocurrency, it is safe to follow a range rather than concrete price prediction Dogecoin. In 2022, the low maybe around $1.2, whereas the high can be near $1.5. In BTC terms, the Doge price may touch approximately 0.0000023301 BTC.
A more conservative approach would include the various global regulations governing Dogecoin. The bullish sentiment may get muted if the broader cryptocurrency market does not perform well due to various government regulations. In such a scenario, the Doge price can remain in the range of $0.0954 to $1. In the worst-case scenario, the price can touch the lower support at $0.07634. Still, the overall momentum is highly bullish for Dogecoin cryptocurrency.
Dogecoin Price Prediction 2025
Due to its popularity among its users, Dogecoin might stay afloat and not drop in value in the next five years. According to WalletInvestor, there will be a positive price trend. A prevalent prediction forecast for Doge is that by 2025, the Dogecoin price can significantly rise to $0.0184 – several cost leaps from the current Dogecoin price of $0.00194680 (at the time of this writing).
CryptoGround price prediction Dogecoin is not far from WalletInvestor. Using its in-house deep learning algorithm, the prediction is that Dogecoin may be a profitable 5 years investment that may yield a doge price of $0.0141 by 2025.
FAQs on DOGE coin
Will Dogecoin go up in 2021?
Dogecoin has been, perhaps, the perfect roller coaster ride of 2021. The high volatility came courtesy of the various comments by famous personalities and crypto experts. The most significant push to the cryptocurrency has been given by Elon Musk, who made his ultra-bullish views clear about Dogecoin.
The high price volatility has helped price of Dogecoin gain much appreciation in the crypto realm. The Dogecoin community has grown manifold as the price has risen by 774 percent in the last eight months alone. There is not an iota of doubt that Dogecoin will continue its upwards journey in the next few months. Both large and retail investors will build the bullish movement.
A journey to new highs is on the cards as Dogecoin might get huge support from the broader crypto market. As the market cap of the digital coin grows beyond $10.7 billion, the exponential growth rate will only boost further price rise. Ignoring minor pullbacks, the price will surely go up in 2021.
What is the current price of Dogecoin?
Currently, the Dogecoin is trading at $0.05412. The forecast is biased upwards as various technical indicators are showing bullish signs. The RSI, MACD, Stochastic Indicator, Awesome Oscillator, and Bollinger Bands give positive signals on the daily and weekly charts.
How many Dogecoins are there in a dollar?
At the current rate of exchange, there are 18.49 Dogecoins in a U.S. Dollar. From the day of Doge’s inception in 2013, the Dogecoin started as a joke, is now one of the most popular in the crypto community.
Is Dogecoin a good investment?
I think that if everyone would buy a lot of Dogecoin, it will raise the price. Bitcoin price started the same way. We can power our economy if we make Dogecoin viable. Buy, buy, buy! That’s just my take on Dogecoin.
If you buy even 200 and Doge’s price goes up to $100, you have made $200,000 (before taxes) on a small investment, and you can’t go wrong with that. I’ve long been convinced that Doge blows everything else away. The Doge token is superior on every count but try and get anyone ‘serious’ to look past the joke thing.
Even the guys who own Doge themselves seem unwilling to do anything. It makes it hard to advance adoption when exchanges, journalists, even traders refuse to take Doge seriously. But on the plus side, investors have bucketloads of enthusiasm around the coin. Maybe we can keep chipping away because hassling people about Doge won’t make them cave in.
Peter Schiff’s comment that “Dogecoin is better at being Bitcoin than Bitcoin” is probably what attracted the attention of Crypto Twitter the most. When asked to compare the number of BTC in circulation to DOGE, which has a more excellent circulating supply, the Bitcoin critic dismissed the argument by saying: “The number is meaningless. There is 2.1 quadrillion Satoshis. Dogecoin’s supply can’t increase by more than 2% per year. Practically speaking, Dogecoin is a better cryptocurrency than Bitcoin.”
Where to trade Dogecoin?
Dogecoin has come out of the shadows. Now, almost every significant cryptocurrency exchange offers Dogecoin crypto trading. Some of the popular exchanges offering Dogecoin trading services are Coinbase, Binance, Kraken, Bittrex, Bibox, and more.
Most exchanges have simple registering processes, and users can begin almost immediately after registration. Traders can set up their account, create a wallet and transfer the money using suitable channels, including credit card, debit card, or bank wire transfer.
Tweets from the community do carry a lot of weight. More than a month ago, Elon Musk took Dogecoin under its wings as it faces “discrimination” by conducting a poll of his , and declaring the “future currency of Earth”, with ‘All other crypto combined’ netting only 28.7% of the vote by comparison.
The SpaceX and Tesla CEO posted several tweets criticizing the so-called crypto whales who hoard large stockpiles of Dogecoin. Elon blamed these large holders as the only thing standing in the way of Dogecoin from becoming a mainstream currency, who has previously suggested that the “people’s crypto” could become the official currency on Mars.
Analysis of digital wallets reveals that one holder owns more than a quarter of all 128 billion Dogecoin (DOGE) tokens in circulation. The balance of just over 36 billion Dogecoins is worth over $2 billion at today’s prices.
A further 19 digital wallets hold another 25 percent of all Dogecoin, meaning just 20 people own more than half of all Dogecoin in existence – assuming the wallets are owned by separate individuals. A Dogecoin advocate’s tweet could be the turning point: “Whales will have to consider Elon’s ultimatum here. If they comply, Dogecoin becomes the currency of the internet.”
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.