Will Dogecoin Reach $1 in 2023? Dogecoin Price Prediction 2023, 2025 and 2030

Will Dogecoin Reach $1 in 2023? Dogecoin Price Prediction 2023, 2025 and 2030

Will Dogecoin Reach $1: Yes, Dogecoin could reach $1 by 2026 (Optimistic) or by 2032 (Pessimistic)

Dogecoin Price Prediction: Dogecoin after the bullish run, has lost its momentum. For 2022 end, Doge is predicted to be below $0.10.

Dogecoin Price Prediction 2023 is $0.26 (Moderate Growth)


Latest Dogecoin Price

Dogecoin is an open-source blockchain that was launched as a mere joke with Shiba Inu’s face on the logo. The makers of the coin have said that the coin is meant to be fun and nothing else. The coin was almost worthless until Elon Musk started tweeting about it and declaring that it was his favorite coin.

Here are a few facts about Dogecoin:

  • Dogecoin was launched as a mere joke with Shiba Inu’s face on the logo. The makers of the coin have said that the coin is meant to be fun and nothing else.
  • Dogecoin soon garnered attention after big names like Elon Musk, Snoop Dogg, Lil Yachty, Kevin Jonas and Gene Simmons started voicing for Dogecoin.
  • Dogecoin Foundation is responsible for supporting the development of the meme coin, Dogecoin.
  • The foundation has announced the dogecoin “trail map” that features eight projects, including the launch of LibDogecoin and GigaWallet.

Dogecoin Price Prediction Today

Overall OutlookNeutral
1. Market's WisdomPartially Positive
1a. Market DataNeutral
1b. Technical RecommendationBuy
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentNeutral

Dogecoin Performance in 2022

  • Last 5 Days: +22.4%
  • Last 1 Month: +46.3%
  • YTD: -50.4%

Why is Dogecoin Pumping?

The crypto market is under tremendous strain and from Bitcoin to Shiba Inu, all the major cryptocurrencies are trading lower but one crypto, Dogecoin has pumped double-digit on Black Friday. Dogecoin has already added over $1 billion to its market cap in the last 24 hours. It is still unconfirmed what led to the pump but there has been some unconfirmed news about Elon Musk and Ethereum founder Vitalik working together to upgrade Dogecoin.

If we look at the chart below, Dogecoin has finally started to trade over the 30-day moving average indicating a bullish trend. Doge now faces an upward resistance at $0.1008 and support at $0.903.

The current momentum suggests that Dogecoin may break this resistance and if so happens we may see Dogecoin heading over $0.115.

The RSI of Dogecoin shows that it is oversold and is following a bullish trend.

image 236

Dogecoin Price Prediction: Can Dogecoin Reach $1, $5, and $10?

There are multiple ways in which Dogecoin could reach this level.

  • A massive increase in Dogecoin being accepted as a payment
  • Significant rise in DApps on Dogecoin, both DeFi and NFT.

Will Dogecoin Reach $1?

Assuming the same scenarios as above,

  • Dogecoin could reach $1 between 2025 and 2027 (Optimistic Forecast)
  • Dogecoin could reach $1 by 2032 (Pessimistic Forecast)

When Will Dogecoin Reach $5 and How?

Assuming the same scenarios as above,

  • Dogecoin could reach $1 between 2027 and 2029 (Optimistic Forecast)
  • Dogecoin could reach $1 by 2039 (Pessimistic Forecast)

Will Dogecoin Reach $5: Yes, Dogecoin could reach $5 by 2028 (Optimistic) or by 2039 (Pessimistic)

Will Dogecoin Reach $10?

Looking at the historic performance

  • Assume a multiple of 15x over the next 5 years until 2027 (Past Track Record, diminishing Multiple)
  • Assume a multiple of 10x between 2027 and 2032

Using this method, Doge could reach $10 by 2031.

However, it is unlikely that liquidity conditions will favor Doge again over the next 10 years. Therefore assuming a conservative 25% growth, Dogecoin is likely to reach $10 by 2042.

Will Dogecoin Reach $10: Dogecoin could reach $10 by 2031 (Optimistic forecast) or by 2042 (Pessimistic forecast)

Is Dogecoin a Good Investment?

Elon Musk and Dogecoin Updates

Tesla CEO Elon Musk recently acquired Twitter and soon after that the price of Dogecoin soared but with the FTX fiasco, Dogecoin and the rest of the cryptos crashed. However, Elon Musk is very much optimistic about the future of Dogecoin as well as Bitcoin.

Recently on his Twitter handle Elon Musk when asked about the future of Bitcoin, tweeted that Bitcoin will make it but it will be a long winter.

For Dogecoin, Musk recently tweeted, ‘Doge to the moon.’

In one of his latest Twitter Space events, Musk was asked about the future of cryptocurrencies. In his reply, Musk said, ‘I think there probably is a future for Bitcoin, Ethereum, and Doge. I can’t really speak to the others. But if you’ve got one of those three in a cold wallet, and off an exchange, I think my guess is it works out well.’

Elon Musk’s Preferred Cryptos

  • Bitcoin
  • Ethereum
  • Dogecoin

Other Updates On Dogecoin

Ethereum co-founder Vitalik Buterin has donated 20 million Dogecoin (DOGE) to the Dogecoin Community

2022 performance

Among cryptocurrencies with 1 Billion or more market cap (Excluding stablecoins), In 2022, Doge is ranked 6th in performance out of 49 Tokens.

In short, Dogecoin has a great performance track record but it tends to deliver in 3-year cycles.

Dogecoin Price Prediction 2023, 2025 and 2030

Dogecoin Prediction 2023 is $0.26.

Dogecoin price Prediction 2025 is $0.34.

Dogecoin Price Prediction 2030 is $0.1.30

Read about Bitcoin Price Prediction

How to Buy Dogecoin?

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

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

Will Dogecoin Reach $1 in 2023
Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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