At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. However, its Dogecoin price prediction then puts the cryptocurrency at $0.0343 by the end of March, trending up to $0.0390 by the end of December 2021. Dogecoin Price Predictions: Can DOGE Hit 50 Cents After SNL Debut? It's not the first time dogecoin has seen a wild climb. To say this cryptocurrency had a wild ride over the past year would be a gross understatement. Investors who bought in will have ended up nursing some nasty losses. Mastercard and Visa are trying to streamline crypto payments on their networks. Capital Com is an execution-only service provider. Dogecoin trading is also available on the Binance, Bitfinex and OKEx crypto exchanges. In mid-April, the coin was in a similar position, but suffered from a hard correction that brought its price down to around 25 cents. The joke didn't last long for its creators: Markus and Palmer both ended their involvement with Dogecoin in 2015. DOGE has also become available on more cryptocurrency exchanges, making investing in Dogecoin available to more people and supporting higher trading volumes. Tesla CEO Elon Musk is Doge's highest-profile supporter, and histweets related to the cryptocurrency tend to lead to a jump in its value. However, financial experts are highlyskeptical of dogecoin, as well as other cryptocurrencies. There are many others, and they're preposterous. See Also:HOW HIGH CAN DOGECOIN (DOGE) GO? After starting the year at $0.0056, the coin quickly rose to $0.07 in February, $0.40 in April, and $0.73 in May, only for it to crash and lose 75% of its value in the space of a few weeks. Dogecoin spiked from around 65 cents before the 5:05 p.m. tweet to just under 75 cents by 6:40 p.m. Traders have poured money into Dogecoin this week ahead of Musk's SNL appearance, in . The use of Dogecoin has evolved beyond a fun meme on social media. It's been fairly off the radar since then. Plus500. Dogecoin has experienced high price volatility like any other cryptocurrency. And earlier this week, Venmo (owned by PayPal) announced its more than 70 million customers can now buy Bitcoin, Ethereum, Litecoin, and Bitcoin cash for as little as $1. While we cant predict dogecoins price with utmost certainty, it is prudent the most likely direction. Designed to make shopping easier. Similarly, the site expects dogecoin to reach $0.0766733 in July. Others are "memecoins," which rise and fall in popularity simply because they're kind of funny. Dogecoin, worth around 7 cents today, would still have to more than double in value relative to . 2023 CNET, a Red Ventures company. Dogecoin has been climbing again in the past week, hitting 10 cents a coin for the first time on Wednesday. Majorities of workers who quit a job in 2021 say low pay (63%), no opportunities for advancement (63%) and feeling disrespected at work (57%) were reasons why they quit, according to the Feb. 7-13 survey. There are many others, and they're preposterous. Thus, whether or not Doge can make it to $1 comes down to how well the cryptocurrency industry performs from here on out. (More on that a bit later). Since then the crypto markets experienced a heavy crash on May 19, most coins went down by about 50 per cent, including . Popular memecoin Dogecoin DOGE/USD has rallied by a staggering 56% over the past 24 hours and has more than doubled its price in the last week, amid Tesla chief Elon Musks acquisition of social networking giant Twitter. Dogecoin is a cryptocurrency based on the "Doge" meme, which rose to popularity in late 2013. Please contact us if you have outstanding issues. Where the last surge saw the coin use up all its steam and fail out on #DogeDay, investors have bullish indicators and incoming catalysts lined up. With services and companies including PayPal, Venmo, WeWork and Tesla now supporting more traditional cryptocurrencies, its possible some may begin to support dogecoin. 5,000 percent since the start of the year, skeptical of the cryptocurrencys massive rally. 2023 Tech Times LLC. But, overall, usage is currently quite limited. The charts will have an uptrend to trade over the $0.12 mark, although the typical l ups and downs will be present. If you look into Reddit, Facebook, Twitter, and other social networks, you will see that Doge has the second-largest followings after Bitcoin. If you rely on the information on this page then you do so entirely on your own risk. If the celebrities continue this infatuation of dogecoin, then its price will continue to increase. Interestingly, Musk is widely touted to be the "Dogefather" as he frequently mentions the cryptocurrency and engages with its community of users. This user, for example, is one of many bullish Dogecoin fans who believe the asset will reach the 50-cent mark before the next weekend is out. $1 could quite easily be here before the year is out. ", Sign up now: Get smarter about your money and career with our weekly newsletter, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. It's complicated. Over the years, veterans of the Doge ecosystem have been fighting its corner against trolls, critics, and FUDders alike, preaching the good word of the dog meme currency. The meme coin, once the runt of the crypto litter, is now a big dog with more value than storied automaker Ford (NYSE:F) and social media titan Twitter (NYSE:TWTR). Towards the end of the year, the minimum price will increase to 0.846257. Has all the attention got you wondering Should I invest in Dogecoin for outsized portfolio returns? Ultimately, dogecoin is expected to grow in 2021 through 2024. The current circulating supply is 139,146,956,383.705 DOGE. Dogecoin's price more than doubles in a week. The minimum price will be around $0.0509205, while the maximum is expected to gravitate towards 0.0748831. The firm's panel of fintech and crypto experts expect the coin also hit $0.541 in 2030 roughly 400% higher than its price at the beginning of this year. These factors are making investors awfully excited about the future of Dogecoin. If you're considering buying Dogecoin, read on to see what you can expect from your favorite meme coin for the latter part of 2021. Elon Musks tweets and enthusiastic posts by Reddit users are not the only drivers for the Dogecoin rally. 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. HSBC names 4 Chinese stocks set to benefit from the trend. This lack of a supply cap is one more reason why some people are skeptical of the cryptocurrencys massive rally and worry that people buying it will ultimately lose big. There's no doubt that Dogecoin will reach 50 cents per coin before 2022 ends. "People are buying the cryptocurrency, not because they think it has any meaningful value, but because they hope others will pile in, push the price up, and then they can sell off and make a quick buck. On Thursday, the U.S. online brokerage said there was a "major outage" in its crypto trading feature after facing "unprecedented demand." The billionaire has flirted with the idea of using Dogecoin as a payment option for a membership or paid version of Twitter. But there are some: one advocate and enthusiast is entrepreneur and investor Mark Cuban, who announced in March that his team, the Dallas Mavericks, would begin to accept the coin as a form of payment. The good news is that this figure is certainly not out of the realms of possibility, especially if Bitcoin and the cryptocurrency industry as a whole can continue with its current trajectory for the rest of the year. On the bright side, financial giants including JPMorgan, Citi, and Sachs are contemplating establishing crypto custody. The billionaire has called dogecoin his "fav" cryptocurrency and "the people's crypto." Elon Musks Saturday Night Live episode airs this weekend, on May 8. And now, defying all odds, dogecoin has a total market value of more than $40 billion, according to crypto market data site CoinGecko, adding over $20 billion in the last 24 hours. All rights reserved. There are several reasons for this high level of volatility, but one of the most noteworthy is the fact that Dogecoin is an immensely speculative asset with few fundamentals when compared to most other "big cap" cryptocurrencies. About two months later, on April 15, he said, hebecame a dogecoin millionaireon paper. That means it only takes one person to dump all their holdings for the entire market to tank.". The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Despite this, enthusiasm is high amongst some in the crypto community who continue to hodl (a deliberate misspelling of hold that refers to buy-and-hold strategies in the context of cryptocurrencies) the joke coin and perhaps theres good reason. As the world ambassador to Dogecoin (CCC:DOGE-USD), crypto investors are at the edge of their seats, anticipating a DOGE name-drop. The projects latest developments: will DeFi drive adoption of Dogecoin? During a tumultuous year, the polarizing cryptocurrency has captured public attention right across the globe after posting incredible gains, acquiring various celebrity endorsements, and dominating crypto Twitter and several other internet sub-communities. And it's almost impossible to say when that's going to happen. According to an online forecasting website Wallet Investor, DOGE could double again from the $0.05 level to reach $0.10 later this month. "You just gotta zoom out and chill," Contessoto, 33, told CNBC Make It. The co-founders are no longer directly involved in the DOGE cryptocurrency. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. Do not reproduce without permission. "Dogecoin's rise is a classic example of greater fool theory at play," David Kimberley, an analyst at U.K. investing app Freetrade, told CNBC. The success of crypto depends on users and adoption. Update: Crypto trading is now fully restored. In fact, Markus recently wrote on Reddit that he sold his coins for (only) about enough to buy a used Honda Civic. It started out as a joke. More bulls are likely to join the bandwagon pushing the price to test the resistance zone in December. It's risen by a whopping 400% in the last seven days. What do you need to know about the altcoin before you decide whether to add it to your portfolio? Dogecoin hit its maximum price a few days ago, reaching a high price of 73 cents. On Monday, April 19, Dogecoin's market capitalization (equated by multiplying a coin's current price by its circulating supply) hit $50 billion for the first time, with the coin itself hitting . Will Dogecoin future price moves be equally dramatic? The dogecoin price has climbed almost 400% this week alone and is now hovering around 30 cents per . Dogecoin has witnessed wild swings in the past over Musks tweets and announcements. You Might Have To Take A Test To Trade In This Country, Do Not Sell My Personal Data/Privacy Policy. For some perspective: the market cap of the second-largest cryptocurrency, Ethereum (ETH), is currently $280 billion, and the market cap of the leading cryptocurrency, Bitcoin, is hovering around $1 trillion. This then catalyzed a series of huge leaping upward gains; the coin moved from five. [+] dogecoin token--far above the mere fraction of a cent it began 2021. Recent endorsement from high-profile individuals has swayed the joke cryptocurrency. This article will explain why it will get to $0.50/per coin within 2022. The bullish movement is expected to continue throughout the year. The price is expected to hover around $0.0608258 towards the end of the month. Benzinga does not provide investment advice. The cryptocurrency is likely to reach a minimum price of $0.0640377 and $0.0941731 on the upper side. But investor Glauber Contessoto, whose dogecoin holdings previously surpassed a value of $1 million, isn't worried. The cryptocurrency Dogecoin was created in 2013, but it wasnt until early 2021 around the time of the now-infamous Reddit-fueled GameStop and AMC short squeeze sagas that the coin started to attract more mainstream attention. call +44 2030978888 support@capital.com, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Investors are hoping the surge today will lead to something different. Taking a longer-term view, by 2025 Coinswitch expects Dogecoin to range between a low of $0.0281 and a high of $0.0450. % so far in 2021. . At the time, the cryptocurrency was at $0.0023. If the price breaks the resistance, we could see price movement upwards. Even in May, when the value of his holdings surpassed $2 million, he still didn't budge. 2023 BDG Media, Inc. All rights reserved. So will Dogecoin reach $1? On April 20, Mike Novogratz, founder, and CEO of crypto-focused investment firm Galaxy Digital went on CNBCs Squawk Box, explained how Bitcoin is a well-thought-out, well-distributed store of value thats lasted for 12 years and is growing in adoption. Another factor that Novogratz believes will positively impact Bitcoin's price and usage is that tens of billions of dollars'' of capital expenditures and operating expenses are put into the Bitcoin ecosystem every year. Eventually, penetrate the current all-time in February 2022 to sell at a high of $0.0826640. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up. Besides his dogecoin memes, he has announced himself as the unofficial CEO of dogecoin. In 2018, dogecoin's pricebegan rising in tandem with other popular digital currencies. Other adopters include Latvian airline airBaltic, electronics retailer Newegg, and luxury resort group the Kessler Collection. Should it? The trend has now retraced . For instance, Elon Musks tweets have significantly affected the price of dogecoin. Additionally, Dogecoins bullish movement started the year on a high note, doubling from $0.005405 to $0.011427 on January 2. Meanwhile, Dogecoin Whale Alert, a Twitter account that tracks the movement of DOGE whales tweeted that 286,953,266 DOGE, worth $22,140,740 was transferred from a "Top 20 wallet" to a Binance wallet. Next:Want To Trade Bitcoin, Ethereum And Dogecoin? Even Morgan Stanley and Goldman Sachs will reportedly soon offer clients the opportunity to invest in Bitcoin and other cryptocurrencies. On the other hand, Dogecoin is inflationary and has no supply limit. 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. We saw Milky Way, Snickers, Slim Jim, and others tweet support for the cryptocurrency, with the goal of sending the coin to the moon (crypto-talk for a coin that is soon going to rise significantly in price). While all cryptocurrencies are volatile in nature, dogecoin has been subject to a greater deal of volatility than more mainstream tokens, including bitcoin and ethereum, buoyed on by its dual identity as a meme. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. The platform has around 20 million users around the world. Now, with dogecoin trading around 17 cents, he continues to buy the dip. The trend has now retraced to what seems like a minor pullback. Its popularity on social media makes Dogecoin prone to wild price swings, with various attempts by users on TikTok and Reddit to collectively drive up the price causing the market to spike. Also, considering that the coin has made roughly 5,000 percent gains in the past year, its not ridiculous to assume that the coin could triple in value (or more) in due time. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. Even if DogeCoin was only briefly over 60 cents, it's still a new milestone in DogeCoin's miraculous 2021. DOGE/USD +1.20% + Free Alerts. Back in January, when each token was . Joseph Raczynski of Thomson Reuters expects Dogecoin to benefit from its first-mover advantage and hit 50 cents by the end of this year and reach $1 before the end of 2025.

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