One of the most popular meme coins, Dogecoin (DOGE), disrupted the cryptocurrency scene after delivering explosive returns to investors in the last few years, finally topping out during the 2021 crypto bull run when Elon Musk appeared on SNL.
Currently trading at a price far below its all-time highs after a deep correction, internet searches for ‘Is Dogecoin Dead‘ and ‘Should I Sell My Dogecoin‘ are now common according to keyword data.
This Dogecoin price prediction guide will analyze the potential future of this popular cryptocurrency – should holders sell DOGE, or will Dogecoin recover?
Dogecoin Price Prediction Summary
Launched in 2013, Dogecoin is the 10th largest cryptocurrency with a market cap of nearly $8 billion. The sections below briefly summarise the Dogecoin price prediction for 2022 – 2025.
- End of 2022 – If Dogecoin can close above $0.06 in the coming few weeks, a price increase to $0.09 is possible by the end of 2022. As the cryptocurrency markets start performing stronger, DOGE could increase by the end of the year.
- End of 2023 – Despite being known as a meme token, Dogecoin’s competitive transactions per second and low cost per transaction can make it a strong asset to hold. We expect the token to trade between $0.09 to $0.1 by the end of 2023.
- End of 2025 – One of the largest cryptos, Dogecoin, has been adopted as a payment method by over 1,300 merchants. A strong bull run in the next few years could help the token retake its previous highs of $0.7 by 2025.
History of the Price of Dogecoin
Still regarded as one of the best meme coins, Dogecoin (DOGE), has regularly attracted high levels of volatility. Built on the Ethereum network, Dogecoin is an ERC-20 token released in 2013.
Tokenomics & Launch
According to CoinMarketCap, Dogecoin was first released in December 2013 at $0.0005588 per token. Dogecoin is an inflationary token with a live token supply of more than 132 billion tokens. With 100% of the tokens circulating right now, DOGE increases by approximately 5 billion in supply annually.
Created by Billy Marcus and Jackson Palmer, the token was originally launched as a fun cryptocurrency token and an alternative investment to Bitcoin. The logo replicates the popular Shiba Inu dog meme, becoming the first of many new doge-themed meme tokens.
Before becoming one of the best cryptocurrency assets to purchase, Dogecoin traded sideways for nearly 7 years. Between 2013 to 2020, the token increased from $0.00055 to $0.0046 – a price increase of 736%.
Doge Crypto Price Increase
However, the fate of the DOGE crypto price changed in 2021 after receiving mainstream appeal. Dogecoin grew in popularity after Elon Musk, the CEO of Tesla, started releasing a series of tweets supporting this investment asset. In April 2019, Musk tweeted, saying, ‘Dogecoin might be my fave cryptocurrency. It’s pretty cool’.
However, the token began to escalate throughout 2021 after Musk’s tweets got more frequent. Between January 1st to May 8th 2021, the Dogecoin price increased from $0.004 to an all-time high (ATH) of $0.73 – a staggering 18,150% price increase.
Dogecoin Price Correction
However, the price dropped significantly after Elon Musk went on Saturday Night Live as a guest host. After the world’s richest man made a series of jokes about the token, the token corrected to 44 cents by the 10th of May – a 44% price decrease.
One of the most volatile cryptos to trade, Dogecoin further corrected to $0.17 by the end of 2021. Dogecoin traded at $0.17. However, 2022 turned out to be a bearish year, as the DOGE price plummeted. From January to March 2022, Dogecoin plummeted from $0.17 to $0.11 per token.
After briefly rising to $0.17 in April, uncertain economic conditions following the Ukraine-Russia conflict and rising inflationary numbers sent the crypto markets into a downfall. The current DOGE price is $0.06 – 91% below its ATH. However, the token has still provided a return on investment (ROI) of more than 10,500% since its 2013 launch.
With a live market cap of $7.9 billion, Dogecoin is the 10th largest cryptocurrency in the world.
Doge Price History: Summarized
- With a circulating supply of 132 billion tokens, DOGE launched in 2013 at $0.0005588 per token.
- The token increased by over 700% between 2013-2020.
- Backed by Elon Musk, Dogecoin soared by 18,500% to an ATH of $0.7 in 2021.
- The token collapsed throughout 2022, following uncertain market conditions.
- The Doge price today is $0.06, with a market cap of $7.9 billion.
Dogecoin Price Prediction 2022
One of the best shitcoins in the cryptocurrency markets, DOGE, has lost over 90% in value since its ATH of $0.7 in November 2021. However, the token’s price correction has coincided with the widespread crypto market performance.
Like DOGE, some of the best altcoins like Ethereum, Cardano and Solana have lost more than 60% of their valuations in 2022. The 1-month Doge price chart shows that the token has experienced high levels of volatility. To gain momentum in the short-term, investors will hope that the cryptocurrency can close above the $0.06 resistance barrier.
If the DOGE crypto price stabilizes above this price point, the token can increase to $0.09 by the end of 2022. The $0.09 levels acted as a resistance point for DOGE in May and August 2022 – as the crypto failed to stay above this mark.
If the cryptocurrency successfully gains support at the $0.06 level, it is likely that the token could once again test the $0.09 level by the end of 2022. The short-term performance of Dogecoin will also depend on the overall crypto market’s performance.
Should Bitcoin begin trading upwards, investors may experience a similar occurrence among the top altcoins in the coming months.
Dogecoin Price Prediction 2023
To better understand Dogecoin’s medium-term price prediction, investors should get a better idea of how Dogecoin works. Like Bitcoin, Dogecoin leverages the Proof-of-Work (PoW) consensus to mine new tokens regularly.
However, unlike Bitcoin, DOGE is an inflationary asset. This means the token has no maximum supply, as the new DOGE can be minted regularly. Originally forked from the Litecoin protocol, Dogecoin works on the Scrypt mining algorithm. While mining is more complex on this algorithm, DOGE manages to process a maximum of 40 transactions per second (TPS) – higher than the numbers of Bitcoin and Ethereum.
With a low average network fee of $0.15 per transaction, Dogecoin does provide some significant benefits to investors. Thus, Dogecoin is one of the best proof of work coins, providing certain benefits beyond its social media appeal and celebrity backing. Due to rising inflation, few have a strong conviction on crypto assets at the moment.
However, investors like Elon Musk are still holding their assets. In March 2022, Musk tweeted stating the importance of holding physical assets such as houses or stocks in companies manufacturing physical goods. But, the billionaire also noted that he is holding onto his Bitcoin and Dogecoin holdings.
Historically, meme tokens tend to provide better returns when the cryptocurrency markets are bullish and spending increases. Therefore, a strong 2023 performance in the cryptocurrency markets may push the price of Dogecoin in the coming year.
Dogecoin has been unable to gather support in the 1-year price chart. The token has continuously corrected from $0.4 to $0.05 per token. Therefore, investors will hope the cryptocurrency can rebuild momentum and trade above $0.1 by 2023. On the other hand, further bearish continuation in the global markets may hinder the token’s chances of breaking the $0.1 barrier.
Doge Price Prediction 2025-2030
The Doge forecast in the long-term will depend on multiple factors beyond the historical price charts. Firstly, Dogecoin has earned the reputation of a volatile cryptocurrency offering investors uncertain price movements.
However, cryptocurrency has provided value in different forms over the years. In 2014, Dogecoin was used to raise over $3,000 to support the funding of the Jamaican bobsleigh team for the Sochi Winter Olympics. More than 25 million DOGE was donated to the Dogecoin foundation – a charitable organization created by one of the cryptocurrency’s founders.
In January 2022, Dogecoin again became the town’s talk after Elon Musk’s new tweet. The Tesla CEO wrote that his company would accept payments in DOGE to purchase Tesla merchandise. The price announcement led to an instant 14% price increase.
As of September 2022, an estimated 1,300+ merchants are accepting Dogecoin as a payment option. Due to Dogecoin’s low cost and high throughput, the token is being leveraged by popular brands such as the Dallas Mavericks, Kronos, SpaceX and more.
Potentially one of the best long term cryptocurrency investments if it can recover to its highs, Dogecoin has one of the strongest social media profiles in the space. The token’s popularity is unmatchable, with over 3.4 million Twitter followers and 2.3 million Reddit subscribers. Thus, the token has remained the 10th largest cryptocurrency, despite the price correction in 2022.
Due to these factors, our analysts expect Dogecoin to regain momentum throughout the decade. As the cryptocurrency sector expands and we once again see a revival in the markets, DOGE has the potential to reach its original ATH of $0.7.
Other sources, such as Priceprediction.net, an AI trading algorithm, are also bullish on the long-term price of Dogecoin. Priceprediction.net expects the popular cryptocurrency to trade at an average price of $0.23 by the end of 2025 – 283% more than the current levels.
Potential Dogecoin Price 2022 – 2025
The table below summarizes the potential Dogecoin (DOGE) price prediction from 202 – 2025.
|Year of Price Prediction||Potential High||Potential Low||Average Predicted Price|
Where to Buy Dogecoin
Those interested in purchasing Dogecoin can begin trading with one of the best cryptocurrency exchanges in the world. Therefore, we recommend investors create an account with eToro – one of the top cryptocurrency platforms that supports Dogecoin and other popular assets.
A global multi-asset exchange, eToro is used by more than 27 million investors to buy cryptocurrencies, stocks, commodities and ETFs. Looking for the best crypto to buy? eToro offers over 70 digital assets such as Bitcoin, Ethereum, Solana, along with Tamadoge.
After completing a quick KYC (Know Your Customer) process, you can make a minimum deposit of $10 (Only for US & UK Investors) and begin purchasing Dogecoin on eToro. The global exchange makes cryptos highly accessible by providing multiple payment options, including credit/debit cards, bank transfers and e-wallets.
eToro charges a spot trading crypto fee of 1% per transaction + the bid/ask spread rate. Active day traders and scalpers may prefer Binance or OKX exchange, as an alternative – many investors open accounts on several crypto exchanges.
After registering with eToro, beginners can leverage the CopyPortfolio feature – a bundle of various cryptocurrencies.
eToro also offers a free-to-download cryptocurrency wallet – allowing investors to buy and store Dogecoin and other digital assets. Investors can convert their DOGE holdings with other assets directly and access over 500 pairs from the eToro wallet.
A secure platform to use, eToro is regulated by multiple global bodies, including the FCA (Financial Conduct Authority), CySEC (Cyprus Securities & Exchange Commission) and ASIC (Australian Securities & Investment Commission).
Read our eToro review to learn more about this popular cryptocurrency exchange.
- Buy Dogecoin & 70 + Cryptos
- Low Crypto trading fees
- Low minimum deposit of $10 (For UK & US Customers)
- Free-to-download Crypto Wallet
- Multiple Payment methods
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Is Dogecoin the Best Crypto to Invest in Today?
While Dogecoin is the most popular meme cryptocurrency in the space, the markets are experiencing an increased number of exciting new multi-use cryptocurrencies. One such cryptocurrency is Tamadoge (TAMA) – a play-to-earn platform offering in-game NFT and cryptocurrency rewards.
One of the best gaming crypto coins in 2022, TAMA tokens can be leveraged to compete for in-game rewards. With TAMA, you can purchase Tamadoge Pets – virtual dog-like avatars that are minted as NFTs via smart contract functionality.
Players can also access virtual items to breed their pets and use them in community-wide competitions. Participants compete for points on a monthly leaderboard, with the top performers being rewarded with TAMA.
One of the reasons for Tamadoge’s popularity is its deflationary tokenomics. While Dogecoin has an unlimited token supply, TAMA has a 2 billion maximum supply. Furthermore, 5% of all TAMA tokens spent will be burnt to increase the demand against the supply. This can make Tamadoge a more valuable asset compared to DOGE and other inflationary coins.
50% of the 2 billion supply was released during Tamadoge’s token launch. In August 2022, Tamadoge completed one of the best crypto presales after raising $19 million in over 8 weeks. Since then, Tamadoge has concocted its initial token offering on OKX – a global cryptocurrency exchange with over 20 million users.
Investors can create an account and begin trading with the OKX centralized exchange (CEX) or buy Tamadoge directly from the OKX decentralized exchange (DEX). Thus, the token will be accessible to all, regardless of any geographical regulations.
Despite correcting by more than 90% since reaching an all-time high of $0.7, Dogecoin has the potential to retake the highs in the long term. Besides the token’s social media popularity and celebrity backing, Dogecoin has been adopted as a payment method by more than 1,300 merchants worldwide.
Alternatively, we recommend Tamadoge as one of the top cryptocurrency investments in 2022. After raising $19 million in its presale, this P2E asset is available to buy on OKX – via the centralized and decentralized exchange.
What will Dogecoin be worth in 2023?
We estimate Dogecoin to trade between the $0.09 to $0.1 levels by the end of 2023.
What will DOGE be worth in 2025?
In the long-term, Dogecoin could be a good investment due to its social media popularity and growing adoption as a payment method. The meme token can potentially retake its previous highs of $0.7 by 2025.
What will Dogecoin be worth in 2030?
Priceprediction.net, a trading algorithm, predicts Dogecoin to reach an average price of $1.38 by the end of 2030 – a 2,200% price increase from current levels.
What was the starting price of Dogecoin?
In 2013, Dogecoin began trading at a starting price of only $0.0005588 per token.
What was Dogecoin’s highest price?
Dogecoin reached an all-time high of $0.73 in November 2021.
Is Dogecoin a good investment?
In the past 9 years, Dogecoin has proven to be a volatile asset. High-risk traders can diversify their portfolios by purchasing Dogecoin and creating a tight stop/loss to avoid major losses.
Editorial Credits :
Editor – Viraj Randev