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In this article, we analyse how the Bexplus Company does the Dogecoin price prediction primarily for traders. This article will prove useful even for those traders with limited knowledge about Dogecoin. We start by explaining what Dogecoin is how it operates in the crypto market, how its varying values affect the current trends and we even elaborate how to purchase Dogecoin in the market.
We have also outlined the reasons why Dogecoin is a good investment option for you; this is in addition to providing a well detailed resource on how to go about Dogecoin mining.
What Is Dogecoin?
Dogecoin was the creation of two software engineers that is, Jackson Palmer and Billy Markus on December 6, 2013. These two created Dogecoin as an alternative to cryptocurrencies like Bitcoin which was then only available to a select few.
Interestingly, on one hand Bitcoin and Dogecoin have some key similarities. For example, both of them have a system that helps users move funds amongst themselves without having to use a blockchain to verify transactions.
On the other hand, there are some integral differences. One of the main one being that Dogecoin has an unlimited supply of coins while Bitcoin has a finite supply of 21 million coins. This means that Dogecoin can be able to inflate infinitely. Dogecoin also has lower fees, operates on higher transaction speeds, has stable prices, is not concentrated by the top 2% holders, has profitable mining, and it disincentivizes hoarding.
Currently, Dogecoin has a market cap of about $36,503,667,142.25 and a complete diluted market cap estimated at $36,503,667,142.25, while trading at $0.2784 as of September 1st, 2021. Many mainstream exchanges such as Coinbase, Kraken, Binance, Bisq etc., and promising exchanges like Bexplus avail and trade Dogecoin. As a result, Dogecoin is increasing its influence in the crypto market globally and improving its profit and value in the crypto market compared to other cryptos.
Bitcoin is the largest cryptocoin with a well funded ecosystem, this is an undisputed fact. The value of the Bitcoin is bound to rise higher with time if all factors are kept constant; this is especially true since the 21 million coins cap ensures that Bitcoin remains scarce. However, Bitcoin like the other cryptocurrencies is still volatile and investors can lose a huge amount of money incase the prices plunge.
You can decide to challenge the status quo by investing in Dogecoin instead. This is a sound investment decision especially if you want a diversified portfolio and cannot bear the risks associated with cryptocurrencies like Bitcoin. Elon Musk and Mark Cuban have endorsed Dogecoin on their socials and this should be enough to boost your confidence. These honourable mentions from these big names and others in the industry have placed Dogecoin on a meteoric rise of more than 7,000% over the first half of 2021.
Dogecoin’s History Price 2017-2020
Before carrying out Dogecoin price prediction, let us analyze its history in order to get a comprehensive view of its performance over the years.
Open price: $0.00022562 Close price: $ 0.00905097
It took some time before Dogecoin became popular, despite the fact that it was developed in 2013. That should not deter you, remember, good things take time.
Nonetheless, it had a low profile for almost four years until 2017 during the cryptocurrency bubble when things started to look up. It started gaining influence in the global market especially for investors and subsequently outshined other types of cryptocurrencies.
Open price: $0.00905097 Close price: $0.00235561.
Dogecoin briefly reached a peak of $0.017 per coin on January 7, 2018, putting its total market capitalization near USD 2 billion. This was a real good performance considering the market trends of the time.
However, overall during that year Dogecoin did not perform well in the market as expected because, to some extent, it experienced a reduction in demand in the crypto market.
Open price: $ 0.00235561 Close price: $ 0.00203014
At the beginning of the year Dogecoin was off to a good start recording an increase in its mining rewards. This good start was just the tip of the iceberg, the price rose up and mid-season of the year in registered maximum profits.
This was mainly due to boosted trend experienced in May of that year that saw the Dogecoin prices increase steadily. However, after this period, a bear market dominated the remaining part of the year leading to a reduction in prices.
Open price: $0.00203014 Close Price: $0.00473000
Generally, during 2020, the Crypto market considered the Dogecoin fluctuation in price quite stagnant.
The market price was estimated to be at $0.002570 in January; while in the mid-year, it was recorded to be at about $0.002320.
The Covid 19 pandemic that surfaced in March led to a reduction in the bullish sentiment. This was because most of the interested traders were affected leading to a reduction in most of the activities in the crypto market.
The price of Dogecoin spiked in July 2020 following a Tiktok trend aiming to get the coin’s price to $1.
In late November, Dogecoin resumed the market influence attaining a price of $ 0.004256 which remained on an upward trend till January of 2021.
In January, 2021 Dogecoin attained the high price of $ 0.077973, later on in February the price improved and it sold at $0.084945. This good tide was due to the bullish moment experienced by the whole crypto market.
On April 14, Dogecoin was still on an upward trajectory and it attained the price of $ 0.142510. The market was working out for Dogecoin; on April 16 it attained the price of $ 0.4377000 making it the fifth-highest-valued cryptocurrency.
Dogecoin’s lucky star shined brightly on May 4 and it surpassed the evasive hurdle of $0.50 to trade at $0.605998.
On August 31, Dogecoin was trading at $ 0.285819.
Dogecoin History Price Summary
The chart below is the detailed history price of Dogecoin from 2017-2021.
|Year||Maximum Price||Minimum Price|
|Jan-Aug 25th 2021||$0.73905000||$0.00464000|
Dogecoin Price Prediction
Price prediction plays a significant role in trading cryptocurrencies. Dogecoin is not an exception. To help traders anticipate the price, we are going to forecast Dogecoin’s price in the second part of 2021 to 2030.
Dogecoin Price Prediction 2021
From $0.02 in early January to $0.32 in late August, Dogecoin has increased by about 1300% in the first part of 2021. Undeniably, though far away from Bitcoin, it is a huge leap. In the next, Dogecoin will take advantage of the upward trend to gain a lot in Q4, which is forecasted to boom cryptocurrencies to a new record high.
After the tumble from $0.68, Dogecoin reached the highest at $0.32 during recent months. The green candles have been lighted for about a month, but the momentum seems not going to fade.
0,236 Fib indicated that Dogecoin now is taking $0.3 as support and attempting to flip $0.36. If manages to take control $0.36 level, Dogecoin will keep the momentum to flip $0.45. But if fails to keep the support level at $0.3, It will dance between $0.15 and $0.3.
With the preference from influential figures, the market sentiment is bullish for Dogecoin. For instance, Mark Cuban, owner of Dallas Mavericks organization, pronounced in mid-August that the organization would provide “special pricing” for those paying with dogecoin during the Mavericks’ summer sale after the acceptance of Dogecoin as payment in March. Thus it is very possible that Dogecoin has the power to break $0.36, directly soaring to $0.7 and setting a new record within 2021.
In detail, Dogecoin may reach $0.45 in September. Affected by slight bearish factors, drop to $0. 39, with $0.4 as resistance. For the whole October, it will swing in the range between $0.35 to $0.4. The strongest momentum will appear in the last two months of 2021, pushing the whole crypto market to skyrocket. With the momentum, Dogecoin will stay high up to $0.6 to $0.73 by the end of 2021.
Dogecoin Price Prediction 2022
To increase like 100$ in 2022 is not likely to happen in 2022. With the unlimited supply, Dogecoin will not be greatly driven up by the supply-demand power like Bitcoin and Ethereum. Our prediction about Dogecoin in 2022 roughly coincides with many leading experts like Robert Barry.
Keeping the bullish power from late 2021, Dogecoin will start 2022 at about $0.8. When the strong uptrend gets slow, a bear market will creep into. At the same time, fear of traders will trigger a sell-off, dragging Dogecoin down to $0.68 from March to June. After the long bearish period, the slight bullish sign will show in August, when Dogecoin slowly climbs up to $0.75. After the bullish strength is brew enough, the real soar will happen in October, pushing Dogecoin to reach $0.85. During November and December, the price will hover in the range of $0.79 to $0.88.
Dogecoin Price Prediction 2023
2023 is a pivotal year because it will have consolidated its price over $1 for its wide acceptance as payment.
Dogecoin is seen by traders as a “medium of exchange”. Generally speaking, Dogecoin is not scarce on design, with 10,000 new Dogecoin created per minute in one block. There is about 15 million Dogecoin produced every day. As of now, nearly 130.54 billion is already in circulation. That is to say, Dogecoin has a similar feature with fiat currency in quantity.
On the other hand, adoption is everything for a currency. Unlike Bitcoin, which is highly valuable and usually seen as a store of value, Dogecoin is much cheaper and simpler for average people, thus it is easier to exchange and circulate. Therefore, it can be widely adopted as payment.
A stream of companies has accepted like Space X, Telsa, and Dallas Mavericks as payment. Walmart’s interest in cryptocurrency payment begins in 2021, which will come true and make Dogecoin an important payment currency by 2023.
For detailed price in 2023, It will start the year around 0.82, and win a new all-time high at $1.6 in March. But the second half of the year will not see much gain, with the price lingering in the area of $0.9 to $1.3. The close price will be $1.33.
Dogecoin Price Prediction 2024
Another breakout will happen in 2024 for the whole crypto market because another halving of the leading currency(Bitcoin) will take place this year. Bitcoin’s price is expected to be traded at 6 figures, triggering other currencies including Dogecoin to going up.
Therefore, after the long-stagnant period from the later part of 2023, Dogecoin will take advantage of Bitcoin’s supply shock resulted from the halving, increasing itself to more than $1.5 from May to June. After the strong momentum fade, Dogecoin will take $1 as the support level, attempting to rebound to the high of May. So it will swing back and forth around $1.1 for the next 3 months. From October to December, the bullish sentiment will be slightly stronger than the bearish factors, ending the year at about $1.4.
Dogecoin Price Prediction 2025-2030
How high Dogecoin will go in 10 years? The answer is not easy to anticipate. However, it is undeniable that the marching step of the crypto market is unstoppable. As one of the potential cryptocurrencies, Dogecoin will be bound to climb higher and higher in the trend. An expert from Bexplus reasonably predicts the price in 10 years with the Fib indicator and price channel. We can see the price movements roughly conform to our prediction from late 2021 to 2024. Technically, by 2030, Dogecoin will double its price to be about $2.6.
More specifically, in 2025, Dogecoin will steadily raise to $1.6. It will stay above $1.7 for most of 2026, with $2 as the target. Eventually, It will surpass $2 level in late 2027. For 2029-2030, Dogecoin will keep $2 as a support level, aiming to break $3, but it will possibly fail within 2030.
|Year||Maximum Price||Minimum Price||Average Price|
|Q4 of 2021||0.71||0.27||0.32|
- How to Buy Dogecoin
You will need to open an account with a crypto currency exchange such as Coinbase, and Binance. Alternatively, you can purchase Dogecoin from beginner friendly investment apps like Robinhood. The downside of such apps is that they may not allow you to transfer your coins off of the app.
Before you begin trading, you must transfer money into you exchange or brokerage account. This transfer could be from a checking account, a savings account, a wire transfer or even a PayPal transfer.
Once you have successfully deposited enough money, you can then buy Dogecoins after searching the term Dogecoins or its ticker symbol DOGE on the exchange trading or transfer platform. Typically, you can either choose the amount of dollars you will put in or the amount of Dogecoins that you want. The purchase will go through immediately.
- Where to Buy Dogecoin
You can get Dogecoin from crypto currency exchange such as Binance, Coinbase, and from brokers such as Robinhood. It is important to note that even though Dogecoin has become considerably popular it is not universally available on all crypto exchanges.
- How to mine Dogecoin
Like other common crypto coins, the miner can mine Dogecoin with GPU on their desktop, even on their laptops.
- How high can Dogecoin go?
Dogecoin is on the upward trajectory and it is going to overcome the $1 hurdle in the near future. Elon Musk who is a big cryptocurrency investor has been endorsing Dogecoin on Twitter, further increasing its value and popularity. It is a fact that Dogecoin is an investment that is bound to bring in good fortunes.
- Is Dogecoin a Good Investment?
Compared to other cryptocurrencies, Dogecoin has a large and steady room for growth in the crypto market. Investors take it a lot more seriously now as a result, at the end of the year 2021, the value of Dogecoin may be higher than the current value. There is no better time for a investor to buy Dogecoins than now. When the prices get better, the trader can then sell the Dogecoins for a handsome profit.
All in all, your current financial situation and your risk tolerance will dictate how much you invest in Dogecoin. Bexplus is the best trading platform, it is very highly rated and you are guaranteed to get the best prices.
How To Trade On Bexplus
Trading crypto futures on Bexplus is easy. Once registered, you will have a 10 BTC demo account to get familiar with the platform, a trading account to earn your real profit, and a wallet account to get up to 21% annual interest.
No KYC. Just simply click sign up to enter an email address, the verification code you received, and set up a password. Then you can start your journey on Bexplus. After making a deposit, you can apply for a 100% deposit bonus.
After becoming a Bexplus user, you can trade BTC/USDT, EHT/USDT, LTC/USDT, DOGE/USDT, and XRP/USDT with 100x leverage. Bexplus also offers market analysis, notification of the market changes to keep you updated.
Dogecoin has the potential to stay on top of the market with its popularity. But the cryptocurrency market is very volatile and the road to new all-time highs will surely be very bumpy. Traders who want to grow their wealth could try Bexplus, where they can use 100x leverage to long and short cryptos. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.