Dogecoin Price Prediction 2022 is $0.21 (Revised Higher)

Dogecoin Price Prediction 2022 is $0.21 (Revised Higher)
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Dogecoin Price Prediction 2022 is $0.21 (Revised Higher)

Dogecoin Price Prediction 2025 is $0.43 (Revised Higher)

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Latest Dogecoin USD Price

Dogecoin Price Prediction 2022: How has Doge Performed in 2022?

Dogecoin has been the most consistent crypto this year. In the last 24 hours, Dogecoin saw some spike in its price. The reason behind the Doge price spike was once again Elon Musk. Tesla CEO Elon Musk who had recently brought around 10% of Twitter shares is now set to own the entire Twitter. As per the latest news, the Twitter board has agreed to a $44 billion offer from Elon Musk to buy Twitter.

Musk has been one of the biggest promoters of Dogecoin and most of the time his one tweet has led to a surge in the price of Dogecoin. It must be noted that Elon Musk’s Tesla allows the customers to buy Tesla merch using Dogecoin. Now after the news of the acquisition of Twitter by Elon Musk the price of Dogecoin has once again soared.

Dogecoin is up nearly 20% in the last few hours and the price of Dogecoin has breached $0.15. Now let us discuss how Dogecoin has performed in 2022:

As we know the crypto market is trading lower since January 2022 and most of the cryptocurrencies are trading negatively. Dogecoin on the other hand has been one of the best performing cryptos since January 2022. However, the YTD chart for Dogecoin s mostly red.

In the first week of January Dogecoin was trading slightly over $0.17 and in a few days, it surged to $0.19. However, since then there has been a retreat in the price of Dogecoin. Doge is trading below the value that it had in the first week of January but the fall in the price of Dogecoin is minimal as compared to the rest of the cryptos.

Dogecoin YTD Chart

image 429

The last 24 hours’ chart of Dogecoin is highly impressive. Dogecoin was trading below $0.15 before the news of Elon Musk’s acquisition of Twitter broke. Once the news started floated, the trading volume of Dogecoin increased massively. The increase in the trading volume of Dogecoin led to a surge in the price of Dogecoin and soon Dogecoin breached $0.15. If the momentum continues, Dogecoin may breach $0.20 in the next 24 hours.

Dogecoin 24 Hours Chart

image 430
Time Period
Shiba Inu
BTC
Ethereum
Dogecoin
Last 5 Days
+0.1%
+0.6%
+0.8%
+13.3%
YTD
-29.1%
-15.1%
-20.3%
-10.9%

Dogecoin in the last 5 days has gained over 13% and it is one of the best performing cryptos in the last 5 days. Since January 2022 Dogecoin is down 11%.

Dogecoin Price Prediction 2022: Technical Recommendation

Latest Technical Analysis Video

Dogecoin Price Prediction 2022: DOGE In 2021

Dogecoin was a highly debated token in 2021. The meme coin found its support in Tesla CEO Elon and many other well-known personalities including Snoop Dog.

The year saw Doge touching its ATH but soon retreating below $0.20. Here is how Dogecoin fared in 2021:

Date
Price
January 1st, 2021
$0.005685
June 30, 2021
$0.2445
December 31, 2021
$0.1705

On May 8, 2021, Dogecoin hit its ATH of $0.7376.

Dogecoin Price Prediction 2022: Analyst Prediction

Average Price Prediction for 2022
April 26th 22nd
$0.21
April 2022
$0.20
April 2022
$0.22
April 2022
$0.22

Dogecoin Price Prediction 2025: Analyst Prediction

Average Price Prediction for 2025
April 26th 22nd
$0.43
April 2022
$0.57
April 2022
$0.37
April 2022
$0.35

Read: Dogecoin Stock Price and Prediction

Dogecoin Price Prediction 2022: How to Buy Dogecoin: The Easiest Way

Dogecoin can be brought from multiple sites including online brokerages as well as online exchange websites. However, before making the first trade with Dogecoin you will need to follow few steps common to almost all crypto purchases. Here are the steps for “How to Buy Dogecoin”:

  1. Decide on a Cryptocurrency Exchange
  2. Create your Account with the Exchange
  3. Verify your Identification
  4. Select a Payment Option and Fund Your Wallet
  5. Make Purchase
  6. Store Your Purchased Dogecoin

Dogecoin Price Prediction 2022: Where to Buy DogeCoin?

Dogecoin is available on Coinbase, eToro, Robinhood, Gemini, SoFi, Binance.US and Webull. Every platform has their own fee charged for making every transaction.

Why Dogecoin would be the Future Currency of the Internet by CEO of Robinhood

Robinhood CEO Vladimir Tenev took to Twitter to explain how DOGE could become the future currency of the internet. His tweet read,

“Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.

First off, transaction fees have to be vanishingly small. We’re already there. As of last Nov’s 1.14.5 update, typical transaction fees have been ~$0.003 – which you can experience on @robinhoodapp – compared to the 1-3% network fees that major card networks charge.

Ideally, the block time (time between successive blocks being added to the chain and to verify a transaction) should be fast enough that the transaction can be recorded in the next block in less time than it takes to pay at a point of sale terminal.

But it shouldn’t be so fast that miners start building up too many competing chains and waste excessive amounts of energy establishing consensus.

Doge’s current block time is 1 minute. This is a bit on the long side for payments – a ten second block time would be more appropriate as it would be less than the typical time spent completing a debit card transaction.

Currently, with a 1MB block size and 1 minute block time, Dogecoin’s throughput is about 40 transactions per second (tps).

As a comparison, Visa’s network can theoretically handle 65,000 tps. Doge would need to be able to significantly outperform Visa, which entails increasing throughput by at least 10000x. Fortunately, this is easy to solve simply by increasing the block size limit.

Moving to a 1GB (and later 10GB) block size limit would provide all of the throughput a global currency would need for the foreseeable future. L2 solutions are not necessary to solve this problem.

Now, critics will claim that this will come at the cost of enthusiasts being able to run a full node on a Raspberry Pi at home. Processing 10GB in blocks per minute will require more sophisticated hardware. And I think that’s actually a fair tradeoff.

Another criticism of Doge is that it’s inflationary and the supply is infinite, as opposed to Bitcoin’s finite supply of 21M coins. ~5B new Doge are created every year, and the current supply is about 132B. This results in a current inflation rate of <5% – less than USD!

Moreover, the fixed issuance means that the inflation rate actually declines over time, and in a couple of decades it will be below 2%.

Dogecoin core devs, I would focus on one thing: coming up with a good process for increasing the block size limit over time. Let me know what you all think!

VLAD on Twitter: “Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take. / Twitter”

Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.

Dogecoin Price Prediction 2022: Is Dogecoin Only A Meme Coin?

Dogecoin was started as a joke coin when investing in Bitcoin was impossible for the major section of Crypto enthusiasts. Dogecoin soon garnered attention after big names like Elon Musk, Snoop Dogg, Lil Yachty, Kevin Jonas and Gene Simmons started voicing for Dogecoin.

Gradually Dogecoin, which was started as a joke coin became a mainstream coin with multiple projects being developed on it.

Dogecoin Foundation, which aims to support the development of the meme coin has recently announced the dogecoin “trail map” that features eight projects, including the launch of LibDogecoin and GigaWallet. LibDogecoin is a clean C Library of Dogecoin building blocks while GigaWallet is an enterprise-ready Dogecoin service.

Apart from these projects, Tesla CEO made an announcement that buyers can use Dogecoin to buy some merchandise. Apart from Bitcoin, Dogecoin became the only crypto to be accepted by Tesla.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in Stocks or Coins. Please consult a registered investment advisor to guide you on your financial decisions. 

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