In other words, it would most likely take too much money to push DOGE to such heights. Une pice de mme n'est jamais facile prvoir. In the next chapter of the Reddit stocks . 24 MAR, 11AM UTC. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can help give us some much needed context when it comes to either interpreting a dogecoin coin price prediction or making one of our own. ", The professor conceded that it was not impossible, however. CaptainAltcoin.com 2022 - All Rights Reserved Should it? These include activity on the Reddit thread r/WallStreetBets among the #DogeArmy, the social media hype surrounding #DogeDay (April 20), and tweets from celebrities and brands, including Tesla CEO Elon Musk. Best Crypto Signals (Telegram & Discord) Are Crypto Groups Worth It? The chances of DOGE hitting $1 in 2023 seem high according to Coincodexs DOGE prediction, the meme coin could be worth as much as $1.21 in May 2023. And Venmo's foray into the space puts the company among a growing suite of large institutions that have more recently begun accepting or at least recognizing the value of digital currencies. at any given moment doesn't really make for a good investment case. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. However, due to the large supply, which is ever-increasing, the market cap would have to grow larger than 1.3 trillion USD. Long-time DOGE holders who adopted the token in its infancy have already enjoyed spectacular gains this year and have broken the 0.36 ($0.50) barrier on Tuesday. Dogecoin is down 5.83% in the last 24 hours. It would seem night impossible for the token to hit such a price but stranger things have happened this year. The first of the dog-themed meme coins, DOGE was originally launched in 2013 by software engineers Billy Markus and Jackson Palmer, who worked at IBM (IBM) and Adobe (ADBE), respectively, as a satire on the proliferation of alternative coins (known as altcoins) attempting to ride on the success of bitcoin (BTC). Its all-time high is $0.738, reached in May last year. The biggest threat to Dogecoin is one of their biggest advantages: their use case. The question "can Dogecoin reach $100," or $1, or any price for that matter, has to do with two things: DOGE's market cap and its mining dynamics. There is a crazy excitement [from] very young investors around meme coins and meme ideas. Dogecoin, a cryptocurrency that takes its name and logo from a Shiba Inu meme that was popular several years ago, doesn't have a cap. Last week, he bought over $5,300 worth of dogecoin when it was . Bear in mind that past performance is no guarantee of future returns. Dogecoin is designed to inflate, with 5 billion coins being added to the 100 billion surplus each year.This allows Dogecoin to be spent more liberally, without hoarding from early adopters that speculate its asset value from its limited supply. It then quickly dropped in a sell the news response to Musk appearing on the Saturday Night Live TV show in the US. With that out of the way, the sentiment surrounding DOGE's potential has been bullish this year but just how far can the momentum carry Dogecoin? As aresult,demandwouldneedto outpace a rapidly growing supply base. Robinhood gets another $100, and his tax rate is the same as Cole's so he keeps $11,340, while Uncle. It seems unlikely that. Market Realist is a registered trademark. The DOGE rally has prompted a frenzy of memes and tweets from the token's backers. Now that Elon Musk has taken over Twitter, it could work favourably for dogecoin. 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. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Dogecoin is even more bizarre in that respect., Novogratz and other proponents of Bitcoin so-called Bitcoin Maximalists who believe that the Bitcoin network will provide everything that investors want in a digital currency in the future also point to its inherent scarcity as a characteristic supporting its value. This is a joke coin never meant to stay alive this long, nor to reach these market caps and market exposure. But this has not stopped the speculation among many investors that Dogecoin will moon. If it can grow that fast in a year, nothing is stopping it from reaching $1. Bullish or skeptical, crypto investors are interested in dogecoin projections after seeing its returns crash those of its blue-chip rivals such as bitcoin and ether. For DOGE to hit $10, it would need to rise nearly 3,800 percent. Therefore, we believe Shiba Inu's 50 Cents is an impractical . know here: Dogecoin Price Prediction Now looking at next milestone that probably $10, $100, $1000, in which $10 quite possible in next 5 to 10 year, but $100 USD and $1000 is very tough to predict that could take more 30 to 50 years from now. DigitalCoinPrice made a dogecoin crypto price prediction that gave an average of $0.17 in 2023, $0.21 in 2024 and $0.30 in 2025, based on historical data. 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. Additionally, having Dogecoin's merits heavily influenced bywhat Elon Musk tweetsat any given moment doesn't really make for a good investment case. Here, we discuss Dogecoin's performance history and answer the question, can the Dogecoin price reach $1? Will Dogecoin ever reach $100? This is difficult because the mining reward is so attractive. This is due to many reasons that we havediscussed in a previous article. CaptainAltcoin.com does not offer any sort of financial or investment advice. According to the latest Coindesk data at 7.11am BST on Wednesday, DOGE's returns are up more than 13,000 percent on last year's price. Related: Does SpaceX Have Its Own Cryptocurrency? Few days Elon musk changes his twitter bio and add hashtag Bitcoin and 8th February 2021 sources confirm that $1.5 billion worth bitcoin invested by Tesla. This aged like milk. Aside from positive cryptocurrency industry sentiment, several other factors have accelerated Dogecoin's recent gains. Its first major. End of 2024 - Dogecoin's surge to $0.60 should make numerous investors FOMO and eager to get into the market before the coin . Can Dogecoin Reach $10? For many in the more traditional financial space, it may be difficult to comprehend the rise of Dogecoin. The team at CaptainAltcoin.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. According to our long-term forecasts, Dogecoin will reach $0.12 by the end of 2023 and $0.21 by the end of 2025. All Rights Reserved. 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. And after eight years of trading for fractions of a penny, Dogecoin's market cap of 64.47billion ($89.69billion) is now greater than that of Twitter. Since its creation in December 2013, it has risen 42,000% in eight years, so significant price appreciation wouldn't be unprecedented. SecuX V20 & W20 Review Is This Hardware Crypto Wallet Safe & Legit. The big break for Dogecoin came in 2021 when its price increased by roughly 3,000% over the course of the year. Even high-market-cap cryptocurrencies have proved vulnerable to the current bear markets. The altcoin also got a boost from more businesses accepting it as a payment option. If Shiba Inu gains 30% a year (assuming a burn of 50% of its supply) it will take 43 years for Shiba Inu to reach 50 cents. Since February 2021 on twitter, we have been seeing #doge #dogetothemoon this hashtag continues to making in the list of trending. First, the coin does not (as of now) have many real-world applications. Now trading under $1, will dogecoin reach $10 someday? As Dogecoin has returned more than 5,000 percent this year, a run-up to $10 might not seem like much to some. Algorithm-based forecasts can be wrong and shouldnt be used as a substitute for your own research. The current price of Dogecoin sits at $0.085 USD, which issome ways away from its primary goal of hitting the $1 marker. The average trading price is expected around $0.119988. Vitalik Buterin, co-founder of Ethereum said: There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well. Show this thread. Markus added: "At this moment , many people will trade you a dime and two pennies for it, and you can directly buy from any number of merchants who integrate BitPay or Crypto.com payment platformscompanies like [computer and electronics online retailer] Newegg, [NBA team] Dallas Mavericks, etc. however, investor started holding and buying more coin that drafted doge to the moon. And it won't stop there. How high can Dogecoin price go? Even the original founders, Jackson Palmer and Billy Markus, stopped working on Dogecoin in 2015. Could Dogecoin Help You Become a Millionaire? However, a major one is a seemingly ever-increasing positive cryptocurrency industry sentiment and, in turn, increasing prices of the coins themselves. With 22 bullish signals and 7 bearish ones, the algorithm predicts a replay of last years May rally. For comparison, at the start of April, DOGE was trading for 0.036 ($0.05). No, Dogecoin can not make you a millionaire as we do not see it doing a 10x price increase any time in the future. Musk tapped into the social media hype around the coin, tweeting that it was the peoples crypto. In spite of the celebrity endorsements, Dogecoin is not the only meme coin circulating these days. At that time, CNBC highlighted how a $1,000 investment at the start of 2021 would have resulted in a 12,000% return. It is still one of the favorite jokes around, even Elon Musk joins the fun occasionally but we simply do not see the grounds for Doge long-term success. Lets now take a look at some of the dogecoin price predictions that were being made as of 21February 2023. 2023 Capital Com Online Investments Ltd, losed Joint Stock Company FinTech Solutions. Geopolitical tensions, concerns over inflation, shortages, and other factors have all contributed to a situation where investments of all kinds have been impacted. CoinCodex is a cryptocurrency data website that tracks 23389 cryptocurrencies trading on 420 exchanges and provides live crypto prices. Saturday, 4th March 2023See today's front and back pages, download the newspaper, order back issues and use the historic Daily Express newspaper archive. While it's fair to say that anything is possible in the cryptocurrency world, the likelihood of Dogecoin reaching $1 is pretty slim in my opinion. However, Dogecoin still has the potential to reach 1 dollar. The $258bn lawsuit was filed in June by investors who have lost money on the token, arguing that the defendants profited tens of billions of dollarswhile knowing that the value of dogecoin depended solely on marketing. At the recent peak, it was worth more than 75 cents and the market cap more than $80 billion. as following that and our prediction we could see Doge crossing $1 USD probably after mid 2021 or in the beginning of 2022. As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. Dogecoin's 10,000 Rule Currently, miners earn 10,000 DOGE per block, which happens about once per minute. Let's take a closer look. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. Apple User Lost $650k In iCloud Crypto Scam, How Long Are Instagram Story Videos? 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. Its use case is already taken up by bitcoin and other more serious projects. Long Forecast predicts that the altcoin will close 2021 at $0.58, top $0.82 in 2022, and reach $1.31 in 2025. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up. So it's already something you can trade for all sorts of items. World richest person & owner of Tesla Elon Musk brings Dogecoin into Billion dollar worth crypto. Sending DOGE's price to $10 may be the next target for the fans if it hits the initial milestone. 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. Elon musk continue to express his love for meme based Crypto i.e., Doge and investor keeps investing in. When considering a DOGE coin price prediction, its important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or tokens price will be in a few hours, and even harder to give long-term estimates.