In this forecast, we will put out our own and market’s opinion (both from popular algorithms and experts) on Dogecoin future while discussing Dogecoin price forecast for 2021 and beyond.
Now, let’s delve deep into the Dogecoin price prediction and answer questions if Dogecoin is a good investment or not, why will Dogecoin succeed or fail or while will Dogecoin price rise or drop, let’s quickly do a review on Dogecoin and its to date history.
CaptainAltcoin’s Dogecoin Predictions for 2021
Dogecoin is currently out of the top 30 coins in the cryptocurrency market ranked by market cap. Even though market capitalization has been proven time and again, as a lacking measurement for a coin’s success, it is still the benchmark when it comes to cryptocurrencies.
DOGE, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, DOGE can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for Dogecoin price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for DOGE to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, DOGE to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoins to enter the scene. However, Dogecoin is gonna have a hard time to be among the top gainers once the altcoin season springs back up. This is not a serious project and its zenith is long gone and behind us. It had a good run, people had fun and made a lot of money off it but jokes and fun can only get you up to a certain height – substance and actual utility is what is needed for a project to be a good digital asset worth investing in.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
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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”
Dogecoin Projections 2023 – 2025
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will DOGE be among those 5%?
If we are honest, there is not much going on for Doge aside of this welcoming and ardent community. It is unreasonable to expect a long-term Dogecoin survival if that is the only hinge for the project.
Dogecoin is slowly dropping below the market cap positions it was in 2017, with no particular interest and real world use cases in sight, aside of sporadic utility in charity tipping. But Dogecoin communities is always a nice place for a good laugh – it is a meme kingdom of cryptocurrency world.
Dogecoin (Doge) Price Predictions by Market and Experts
#1 WalletInvestor Dogecoin Price Prediction
By the end of 2021, Dogecoin may certainly reach $0.00263 according to the algorithm from walletinvestor.com that does automatic technical analysis on all coins on the market.
#2 CoinPredictor.io Dogecoin Price Prediction
Another relatively popular site for price predictions forecasts that in December Doge price will be around $0.00026.
Dogecoin Price Prediction 2025
According to some crypto prediction algos, in a 5-year span, Dogecoin is expected to reach $0.04 mark. Dogecoin price prediction by Coinswitch implies that the Dogecoin price is up for a long-term gain and in 2025, the Dogecoin price is forecasted to stand at around $ 0.044.
Dogecoin Price Prediction 2030
Even though this is a Dogecoin prediction article, making a Dogecoin forecast for 2030 is a ridiculous thing to do. There is no price chart or price analysis that can make a reliable Dogecoin projection for such distant future. If it lives long enough to see 2030, though, Dogecoin might actually be a very sought after commodity.
Dogecoin Price Prediction 2040
2040 is two decades away, making a Doge price prediction even more preposterous and senseless task. For fun, let’s say future price of Doge will be $2.
Why will Dogecoin succeed?
Why will Dogecoin fail?
Will Dogecoin ever reach $1?
Is Doge dead?
No, judging by the team activity on social media, github, their own website. Their communities on Reddit and Telegram are also active, although much lower engagement levels are noticeable when compared to 2017. Coin is also still listed on all major exchanges which indicates that Dogecoin is far from a dead project.
No. If Doge was to reach $10, bitcoin would have to be at $1 million per coin (assuming that their value ratio stays the same, very unlikely).
Yes, Dogecoin is a PoW coin that can be mined with the so called merged-mining techniques.
Speculation. Speculators are still majority in the crypto markets and they don’t care what they buy as long as they think it will bring them money.
Depends on the definition of the moon. If we are honest, Dogecoin had its zenit and it is all downhill from now on.
Considering Doge has a huge supply and no real world use, its upside potential is limited by pure market speculation and forces it can produce. If the overall crypto market rockets into another mania, Dogecoin could beat all the odds and reach insane heights. But that is not likely to happen any time soon.
Dogecoin can’t be killed
Ever since its founder Jackon Palmer departed the community in 2015, the development has waned and prophecies about imminent Dogecoin death started floating around. However, as one of the Doge developers told CoinDesk back in 2017, it is pretty hard to “kill a cryptocurrency”.
“Cryptocurrencies are “a bit zombie-like”, Nicoll said. “It’s very, very hard to kill a cryptocurrency.”
Some might call a valueless cryptocurrency ‘dead’, but that would be missing any educational or entertainment value the token might provide. For instance, Nicoll said even after the 2014 fork, shibes were moving the old version of the coin around for about five or six months.
“It was a functional currency, but you couldn’t use it at shops or on exchanges. We don’t know why they were doing it, but they were having a whale of a time,” he said.
But how do you really kill it? The proverbial headshot for a ‘zombie coin’, according to Nicoll, would require removing the original code from GitHub, making it exceedingly hard to recreate it since very few people keep copies of source code material. Yet the nature of open-source software means that, in that rare instance, copies of the code could still be floating out there somewhere on the internet.”
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com