2023 BDG Media, Inc. All rights reserved. To the moon! DON'T MISSElon Musk's Bitcoin investment ripped to pieces[REPORT]Where can I trade dogecoin? Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. A roadmap and governance for the future of Dogecoin. But theyre afraid of betting against it with money, especially with a backer as powerful as the Reddit crowd that initiated the epic GameStop short squeeze. A Dogecoin dollar meme. Should I Sell or Buy Bitcoin Before Halving? At this point, it is difficult to predict whether Dogecoin culd ever reach $100 by 2030. someone bids $1) then that will induce a huge wall of selling (from all those holding DOGE) which will flood supply and bid prices back down. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. It is not an offer to buy or sell any security, product, service or investment. Dogecoin's 10,000 Rule Currently, miners earn 10,000 DOGE per block, which happens about once per minute. at any given moment doesn't really make for a good investment case. Dogecoin still battling for 10th position with stellar, Uniswap and Chainlink, as of writing it currently holding 8th position with 1.07 Billion totals worth. The market value of Dogecoin is currently around $0.45 USD, and for the price to reach $100, it would require an investment of $18 trillion. Most famously, a concentrated effort by Reddit-based traders pumped the share prices of Gamestop (GME's) from just 14.40 ($19.94) on January 11 to as high as 234.67 ($325) just 18 days later. Dogecoin has a slim chance of succeeding. The majority of retail investor accounts lose money when trading CFDs. It would seem night impossible for the token to hit such a price but stranger things have happened this year. DOGE is 69 cents right now. AlthoughDogecoin(DOGE 0.42%) wascreated as a joke in 2013, with the intention to be a fun competitor to the top cryptocurrency,Bitcoin(BTC -0.03%), little did the developers know that thismemecoinwould absolutely surge in popularity. If you rely on the information on this page then you do so entirely on your own risk. In other words, it would most likely take too much money to push DOGE to such heights. That would mean the market cap would be something along the lines of 1.2 Trillion. But this has not stopped the speculation among many investors that Dogecoin will moon. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. Built by software engineers Billy Markus and Jackson Palmer during the early Bitcoin craze and featuring a "mascot" of the then-popular meme featuring a Shiba Inu dog, the coin was originally conceived as a meta-joke about monetary value and the internet. So it arguably isnt in the same league as Bitcoin, and is, in turn (according to some) not a wise long-term investment. Dogecoin and other cryptocurrencies have been impacted by recent developments, but can Doge bounce back enough to reach its target $1 goal? Bitcoin's current price is $60,000/coin, whereas Dogecoin is trading at $0.60/token. The altcoin also got a boost from more. A Psychology graduate from England who now lives in the US, John previously worked in the aviation industry as an airline reviewer. Since 2021, crypto market continues to have bull run, as Bitcoin breaks $20k resistance level and heading to reach $100k USD. It is difficult to tell. If you've ever wondered 'is Dogecoin a good investment?' or 'why is Dogecoin going up?' read on, we've got answers. The community has launched several campaigns to drive up the price. Dogecoin boom is a retail phenomenon driven by Powell giving money to everybody, Novogratz says Diversity in Hollywood is 'better in some ways but worse in others,' actor Alfonso Ribeiro says At a current price today of $0.21, the Dogecoin market cap now has a value of $31 billion dollars. Elon musk continue to express his love for meme based Crypto i.e., Doge and investor keeps investing in. It's exceedingly hard to create a corner and bid something up unless you control a significant part of the supply, which was the case in the GameStop fiasco.". Only a handful of exchanges and brokers support the altcoin now. Dogecoinskyrocketed almost 12,000% from the start of 2021 up until the beginning of May, when it hit an all-time high of $0.74. In early February, enticed by a friend who is an avid Redditor, I put $50.00 into the coin on Robinhood when it was at about $0.03 and was able to double my money by selling a week later at $0.07. DOGE is the original meme coin, which suggests that it can, potentially, be even more volatile than other cryptos. Markus, who founded Dogecoin with fellow software engineer Jackson Palmer in 2013, told Newsweek via email this week that the market ultimately decides the price. One phenomenon seen over the years is the correlation between how much a coin is talked about, whether that be measured by mentions on social media or trends on Google, and its price. But that might not happen very soon, especially not if the crypto winter persists. GME's spike was fuelled by short-sellers being forced to cover their positions as the stock's value rose instead of tumbling but it gave hope to other traders looking to make money this year. World richest person & owner of Tesla Elon Musk brings Dogecoin into Billion dollar worth crypto. Everything you need to know, Elon Musk 'wrong' to think DOGE is the 'currency of the internet', DOGE's gains this year are fuelled by hype and speculation, HMRC to demand cryptocurrency holding data from taxpayers. In this video, I discuss what needs to take place in order for Dogecoin to reach new heights and maintain them as well. The price plummeted to $0.07004 on 12 May as cryptocurrency markets reacted to the collapse of the terra luna cryptocurrency and the US dollar reaching 20-year highs. Elon Musk continues to teasing Dogecoin 3 times in weeks, so even if prices start dipping then one tweet is enough re-pump. From its current price of just under $0.15, Dogecoin would need to rise more than sixfold to reach the $1 mark. 423. If we are honest, there is not much going on for Doge aside of this welcoming and ardent community. The joke didn't last long for its creators: Markus and Palmer both ended their involvement with Dogecoin in 2015. After being thrust into the spotlight earlier this year by South African billionaire Elon Musk, Dogecoin has gone from strength to strength. DigitalCoinPricemade a dogecoin cryptoprice prediction that gave an average of$0.17 in 2023,$0.21 in 2024and $0.30in 2025, based on historical data. No one can say for sure. In the span of just one year, it became one of the ten largest crypto projects with a market cap of more than $88 billion. How high will dogecoin go? While the Doge Army could successfully campaign to boost its price, any increase may be short-lived. In spite of all this, the one thing that 2022 has already proven is that nothing is certain in the world of cryptos, let alone the world in general. The excellent price performance continued until the report that Twitter had discontinued its crypto wallet project. The basic economics ofDogecoin have artificially createdan uphill battle. For comparison's sake, there are more than 200millioncompaniesworldwide, according todata from Statista. Since its early days, the community has been vibrant and responsible for several amazing things. Recent weeks and months have not been great for cryptocurrencies in general, with many having lost significant value since 2022 began. Conclusion: Yes, Dogecoin Can Reach $10. The recent price action in Dogecoin left the tokens market capitalization at $11,249,040,750.29. Every $1 that the Dogecoin price were to increase would require an additional $180 billion in 2030. Markus and Palmer based the Dogecoin blockchain protocol on the open-source coding of the now-defunct luckycoin cryptocurrency. However, it's impossible that Dogecoin will ever get to $100 per coin. It would be nearly impossible for Dogecoin to reach $100, because there isn't quite enough money in the whole world. It has no first mover advantage, it brings no unique value proposition, it has a weak team and small community behind it. Well Dogecoin would then have a market cap of about $66.3 billion and that would put it at spot number four in terms of market cap. But Dogecoin is unique, and being in a category all on its own, a more all-encompassing assessment requires one to look at other less-traditional influencing factors. Speculators are still majority in the crypto markets and they dont care what they buy as long as they think it will bring them money. At the recent peak, it was worth more than 75 cents and the market cap more than $80 billion. This is difficult because the mining reward is so attractive. But the possibility of hitting $10 still seems way into the future. Doge May Reach $1 Towards the End of 2021. . To reach $100 by 2030, then, there would have to be $18 trillion invested in Dogecoin. The all-time high price for Dogecoin is $0.017491, which it reached in January of 2018. While it is generally agreed that Dogecoin can reach $1, the bone of contention is when this would happen. The meme coin has soared in value thanks to its popularity on social media. There is a crazy excitement [from] very young investors around meme coins and meme ideas. Elon Musk's support was integral to Dogecoin's rise to popularity, and his influence within the community has not diminished. However, Cheems follower continue to rise so does and meme popularity also increasing at global level. The Doge Day 4/20 event that fans had hoped would help drive the tokens price to $1 turned out to be underwhelming as the price actually fell. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. The site's technical analysis was bearish, with 17indicators making downbeatsignals and 13 making bullish ones. ", The creator continued: "If the world collectively decides they are willing to purchase it for a dollar, then it's worth a dollar. Show this thread. Top 10 Apple Statistics and Facts for 2023. Putting aside this aforementioned focus on the cryptocurrency and its hype value, lets look at Dogecoin through a more traditional lens. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Yes, Dogecoin will reach $1 by the end of 2021: 68.3%. DOGE dropped to $0.1107 on 13 March before making another attempt at the $0.17 level on 5 April. Even though Dogecoin remains a popular coin in general, it is likely that the increased level of competition could complicate matters for Doge, potentially slowing down its growth and value. It fell further to $0.1607 on 20 July, when cryptocurrency markets found a bottom. Let's examine why. I WISH I would have bought DOGE at .04! Although lower compared to other predictions, both estimates still imply upside potential over the current price. The current price of Dogecoin sits at $0.085 USD, which is some ways away from its primary goal of hitting the $1 marker. It was worth $0.003 in December 2020 and commanded a market capitalization of roughly $370 million. I mean, its shocking to me that GameStop continues to hold any value, Novogratz said. John has been covering technology since 2014 and focuses on where tech meets the movie and TV industry. The DOGE price can be highly volatile, even in the context of cryptocurrency markets, as social media communities often drive large spikes in its value and subsequent crashes that generate mainstream media coverage. 24 MAR, 11AM UTC. Update: January 26, 2022 - Dogecoin (DOGE) is the father of all meme coins and it remains the preferred one for many people. The altcoin has an unlimited supply and thousands of new tokens come to market every day. Can DOGE hit $10? Our algo still sees a some green in 2023, especially in the second part of the year. Everything you need to know[EXPLAINED]Elon Musk 'wrong' to think DOGE is the 'currency of the internet'[INSIGHT]. That puts a $10 price target firmly out of reach; no matter how many people buy. The coin will then continue to rise month by month, and the site says that by the time the year finishes, the price could be anywhere between $7.02 and $8.03. The one-dollar mark has long been the aim of some members of the Dogecoin community on Reddit, and is becoming a real possibility as this week the price shot up from around $0.13 Thursday. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy. That's an increase of nearly 1,442% since its . If we are honest, Dogecoin had its zenit and it is all downhill from now on. #DogecoinToTheMoon", Another person said: "I feel like an addict checking #dogecoin price every 30 seconds. $10 per Dogecoin is also likely within this decade. By Sarah Smith, Editor-in-Chief, InvestorPlace.com Jan 28, 2021, 8:13 am EST. Dogecoin is an inflationary asset, so there is no cap on how many can be made. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com. as following that and our prediction we could see Doge crossing $1 USD probably after mid 2021 or in the beginning of 2022. In this photo illustration of visual representations of digital cryptocurrencies, Dogecoin and Bitcoin, are displayed on January 29, 2021 in Katwijk, Netherlands. As top investing firm like Grayscale, Micro strategy also invested money in bitcoin, so after Tesla Entry Bitcoin could cross $4 Trillion worth soon. John Finn is a technology editor and writer for Screen Rant. Most Dogecoin predictions are bearish. Depends on the definition of the moon. Doge sees huge growth in market cap volume and as per the top exchange portal Doge demand increases and more investor started holding doge in their portfolio. To put the meteoric rise into perspective, software engineers Billy Markus and Jackson Palmer conceived the token as a joke in 2013. The global GDP is . The lack of any real utility, with no cap on the amount of Dogecoin that can be mined, creates a difficult environment. Why? Im ALL in at .051 YIKES!!!! Long Forecast predicts that the altcoin will close 2021 at $0.58, top $0.82 in 2022, and reach $1.31 in 2025. For Dogecoin to hit $1, it will need to hit a market cap of $130 billion, which is around 3x from its current price point. This is a joke coin never meant to stay alive this long, nor to reach these market caps and market exposure. Dogecoin reaching $1 is a distinct possibility. From its current price of just under $0.15, Dogecoin would need to rise more than sixfold to reach the $1 mark. That contrasted with bitcoins 90 percent and ethers 240 percent. Electronics retailer Newegg recently added dogecoin as a payment option for online purchases. No, our prediction model sees no possibility for Dogecoin to reach $10 in the short or mid-term period. Dogecoin price prediction is expected to stay strong and head towards its first $1 mark towards the end of 2021. While Im not offering financial advice here, all things considered, the short answer is probably, yes. Positive, growing sentiment surrounding the cryptocurrency industry as a whole (in just the past few weeks, DOGE, BTC, and ETH all hit all-time highs), a community of passionate Dogecoin supporters, and plugs from tastemakers like Elon Musk all could drive the price up higher. Now that Elon Musk has taken over Twitter, it could work favourably for dogecoin. 2 Joe Cartel By Money Morning Staff Reports, Money Morning October 13, 2021 Shiba Inu is up over 300% in less than a month. As we know Elon Musk is following Bitcoin and he loves the technology of Blockchain and wanted to start crypto as payment.
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