Can Dogecoin rise to its highest price? Let’s see the prediction for 2030
The past bull market saw Dogecoin see unheard-of growth, so many investors are wondering if the cryptocurrency price could skyrocket and eventually reach US$1. Shiba Inu memes from 2013 inspired the creation of Dogecoin as a joke, but the meme currency didn’t take off until 2018. Additionally, compared to its 2021 all-time high (ATH), its 2018 price was negligible. The founders of Dogecoin didn’t take the project seriously and later advised cryptocurrency creators not to acquire DOGE, hence the price of the coin stayed mostly unchanged until 2018. Before soaring over US$0.01467 in January 2018, Dogecoin’s price hovered around the US$0.0002115 mark in early 2017. This price gain was attributed to the robust Dogecoin community and the bull market’s top of 2017–2018. Having said that, Dogecoin subsequently followed the rest of the market, declining slowly and painfully for the rest of 2018. After DOGE’s price eventually stabilized in the US$0.002 to US$0.003 region, it stayed there until May 2021, when the price of Bitcoin was halved. After that, prices started to soar between November 2020 and January 2021 as Dogecoin was hailed as the cryptocurrency version of Gamestop.
Elon Musk started taking a more active part in the development of cryptocurrency around this time, releasing a satirical image of a magazine with the term “Dogue” instead of “Vogue” on the cover. The Dogecoin market as a result increased by approximately 800% in only one day, from US$0.002523 in November 2020 to US$0.07011 in February 2021. The currency rose almost another 1000% after the peak in February 2021 to reach its all-time high of US$0.7376 in May 2021. Since then, the price has been continuously falling; it has only lately begun to rise. But the real issue is: Will Dogecoin blow up once more, or is it doomed to fail?
Based on the current price of Dogecoin, the currency may continue to appreciate steadily for the rest of this year. This follows several market-related developments that have an impact on the cryptocurrency market, such as the anticipated Bitcoin price halving and a growing reliance on cryptocurrencies while the traditional banking sector suffers mightily. The Dogecoin stock price might increase quickly if banks continue to face difficulties and more individuals flock to cryptocurrencies as they have been doing in recent weeks. The DOGE price would invalidate its previous lower high on the daily time frame if this theory is correct and cryptocurrency has a significant bull run.
The price of Dogecoin may rise later in the year owing to its perceived risk compared to Bitcoin and other asset classes, even if a downward continuation for DOGE is improbable given its 89.98% decline from its all-time high. If so, the DOGE price will attempt to invalidate lower highs in the 4H period by touching US$0.10 and then climbing to US$0.112. The DOGE price might range from US$0.10 to US$0.182 overall in 2023, positioning the currency for a spectacular 2024.
The cryptocurrency market will see cyclical oscillations between 2025 and 2030. This indicates that while Dogecoin’s price may eventually decline, it should keep a lower bottom than the low of the current bear market. There are a plethora of techniques to forecast the length of a bull market, but Rekt Capital discovered they last on average 518 days. So, if the early phases of a bull market rise are expected to begin in mid-2023, the first quarter of 2025 would represent the start of the subsequent bad market. In light of this, we may anticipate significant support at US$0.2, where the price would stay until the start of the subsequent bull market in Q2 2026. According to our Dogecoin prediction, it may eventually reach US$1 in 2030. Given that many analysts think Bitcoin might be around US$100K or more at this point, it wouldn’t be shocking if Dogecoin’s price broke its all-time high. Price forecasting this far out is extremely risky, especially in a market as volatile as cryptocurrency. But DOGE has several significant benefits that might drive up its price to US$1.30 in 2030.
While other cryptocurrencies are based on their usefulness or capacity to address pressing concerns, Dogecoin’s community-driven approach implies that well-known individuals like Elon Musk and Snoop Dogg have a significant impact on the price. In the future, the price of DOGE may increase significantly if the cryptocurrency draws more well-known people from the crypto community and celebrities.