CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Lets take a look at what some analysts Dogecoin price predictions are saying about the crypto: On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. Capital Com is an execution-only service provider. In the shorter term as long as Elon is still the Dogecoin, we will still see more rallies before the year ends as he lays out plans for Twitter, Lian adds. The one-time joke cryptocurrency, which was inspired by a viral image of a Shiba Inu dog, has proven to be immensely popular among at-home traders, many using Reddit forums to inform their trading. Key Facts. These public endorsements brought huge amounts of publicity to Dogecoin and gave it some much-needed validity, bringing in billions worth of new investments. So will Dogecoin reach $1? According to Tradingbeasts Dogecoin Predictions, at the beginning of April, dogecoin is likely to reach $0.0595023. While individually these small plugs from brands may seem like potentially irrelevant promotions, they can affect a cryptocurrency's price in a big way. A $1,000 dogecoin purchase on Jan. 1, 2021 at a price of less than a cent per coin would be worth $121,052 at Wednesday's high of 69 cents, a gain of more than 12,000% according to CNBC . Time to get your crystal ball out! Cryptocurrency aggregator Coinswitch predicts that DOGE could move up by more than $0.005 in the coming month or two, noting that it has been adopted as a means of payment by online stores such as eGifter, AllGamer.net and others. Popular brands followed suit and jumped on the #DogeDay420 bandwagon with Dogecoin-related tweets. Dogecoin is a cryptocurrency based on the "Doge" meme, which rose to popularity in late 2013. While all cryptocurrencies are volatile in nature, dogecoin has been subject to a greater deal of volatility than more mainstream tokens, including bitcoin and ethereum, buoyed on by its dual identity as a meme. The billionaire has called dogecoin his "fav" cryptocurrency and "the people's crypto." Here's how the pros are playing it, This beaten-up bitcoin proxy should rebound 35% as the crypto reclaims the spotlight, Berenberg says, Missed the A.I. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. All Rights Reserved. Elon Musks Saturday Night Live episode airs this weekend, on May 8. Around mid-February, the dogecoin chart formed a descending triangle followed by a stable trend. It started out as a joke. Benzinga does not provide investment advice. Sign up for a daily update delivered to your inbox. $1 could quite easily be here before the year is out. Cryptocurrency markets are prone to rapid, sharp price changes, so if you decide to open a position in Dogecoin, you should be prepared for the high volatility in the price along the way even if the long-term outlook is bullish. Ill stick to Bitcoin and Ethereum, thank you very much. Dogecoins prices have rallied in 2021 for several reasons. At the start of the year, ethereum was trading at just under $740. The meme coinDogecoinDOGE/USD is expected to appreciate considerably this year and even more further into the future according to research conducted by United Kingdom financial analysis service Finder. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up. 5,000 percent since the start of the year, skeptical of the cryptocurrencys massive rally. Join the 520.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Investorscould get burned, so they should invest only what they can afford to lose. Dogecoin will trade for at least $0.087006 towards the end of the year. The rise from $0.000232 in 2013 to the current price of 0.05 represents a 21000% rise. TradingBeasts predicts that Dogecoins price will pass $0.081 in January 2022. The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. Dogecoin gained 50 per cent in the space of a few hours on February 4 to reach a price of $0.05. Dogecoin spiked from around 65 cents before the 5:05 p.m. tweet to just under 75 cents by 6:40 p.m. Traders have poured money into Dogecoin this week ahead of Musk's SNL appearance, in . Fast forward to August 2021, and you will have to fork out a hefty $0.35 for the very same coin . Despite this, enthusiasm is high amongst some in the crypto community who continue to hodl (a deliberate misspelling of hold that refers to buy-and-hold strategies in the context of cryptocurrencies) the joke coin and perhaps theres good reason. The charts will have an uptrend to trade over the $0.12 mark, although the typical l ups and downs will be present. The reason for these huge rises and falls is due to the fact that Dogecoin is inherently an extremely volatile coin. At the end of the month, the price is expected to reach $0.0599065. Some bitcoin investors, for instance, have sounded the alarm about Musk's dogecoin tweets. A day after the first spike in January 2021, DOGE crashed as low as $0.0228 - wiping more than two-thirds off its value. This feature has led some in the crypto space to dub Bitcoin as digital gold.. HSBC names 4 Chinese stocks set to benefit from the trend. Now, with dogecoin trading around 17 cents, he continues to buy the dip. Please contact us if you have outstanding issues. So it arguably isnt in the same league as Bitcoin, and is, in turn (according to some) not a wise long-term investment. The most popular U.S. virtual currency exchange went public on Wednesday, briefly hitting a $100 billion market cap in a landmark moment for cryptocurrencies. That means it only takes one person to dump all their holdings for the entire market to tank.". Cryptocurrency, Culture, International News, Video Games, Misinformation, Conspiracy Theories, Cryptocurrency, NFTs, Movies, TV, Economy, Stocks, experiencing issues with cryptocurrency trading. At its current value, dogecoin is worth more than gaming company Nintendo, car maker Mitsubishi and bank Santander. But remember, the cryptocurrency industry is still young and volatile, and due to Dogecoin having a weak use case and no supply cap, while the numbers may be looking good now, it could easily go the other way. Popular memecoin Dogecoin DOGE/USD has rallied by a staggering 56% over the past 24 hours and has more than doubled its price in the last week, amid Tesla chief Elon Musks acquisition of social networking giant Twitter. About two months later, on April 15, he said, hebecame a dogecoin millionaireon paper. The Dogecoin protocol is based on the now-defunct Luckycoin, which was a fork, or spinoff, from Litecoin (LTC). Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. In June, the price is expected to reach $0.0754225 and hit $0.0512873 on the lower side. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. One phenomenon seen over the years is the correlation between how much a coin is talked about, whether that be measured by mentions on social media or trends on Google, and its price. The Indian government is also considering banning cryptocurrencies. Elon Musks tweets and enthusiastic posts by Reddit users are not the only drivers for the Dogecoin rally. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Dogecoin's skyrocketing price has led to worries of a potential bubble in the cryptocurrency market. How I became an overnight dogecoin millionaire, NFT trader destroyed a $129k CryptoPunk by mistakehow to avoid similar errors, Barbara Corcoran: Don't diversify your investments, How 'cash stuffing' can help you pay down debt and get spending on track, This 26-year-old is transforming a dinosaur industry one luxury watch at a time, Early retiree says reading these 8 books helped him save $1 million: I wasnt born into money, previously surpassed a value of $1 million, warn investors to be especially cautious when investing in dogecoin, lacks the scarcity and technological development. The price is expected to reach a high of $0.079470 in October, jump to $0.0798154 in November. While the price is currently in a downtrend, it is prudent to wait and see how the price will behave around this point. "You just gotta zoom out and chill," Contessoto, 33, told CNBC Make It. Dogecoin has been no exception to the frenzied interest in these digital assets. In July 2020, the cryptocurrency jumped from 0.002286, almost doubling to $0.004543 within a few days. Additionally, trading platforms eToro and Gemini listed the memecoin, drastically expanding its reach. Designed to make shopping easier. pCloud Pass: the New Top-Notch Security Password Manager for All Logins [Review]. If you look into Reddit, Facebook, Twitter, and other social networks, you will see that Doge has the second-largest followings after Bitcoin. Investors can likely sit tight knowing that while there will be more, and others will come and go, DOGE will forever be the original.". DigitalCoinPrice. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were worth $700,217.09. The joke didn't last long for its creators: Markus and Palmer both ended their involvement with Dogecoin in 2015. Mastercard and Visa are trying to streamline crypto payments on their networks. Among those is meme-inspired cryptocurrency dogecoin, which is down about 77% since its all-time high of nearly 74 cents in May. The minimum price will be around $0.0509205, while the maximum is expected to gravitate towards 0.0748831. The campaign managed to drive dogecoin's price up by 50 percent in 24 hours and 95 percent in one week. The good news is that this figure is certainly not out of the realms of possibility, especially if Bitcoin and the cryptocurrency industry as a whole can continue with its current trajectory for the rest of the year. Also, considering that the coin has made roughly 5,000 percent gains in the past year, its not ridiculous to assume that the coin could triple in value (or more) in due time. Benzinga does not provide investment advice. In 2024, dogecoin will be trading above the $0.11 mark on the higher side. Investors are hoping the surge today will lead to something different. As of January 26, Dogecoin cryptocurrency was available on the Ethereum network. At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. Past profits do not guarantee future profits. The cryptocurrency is likely to reach a minimum price of $0.0640377 and $0.0941731 on the upper side. Gene Simmons also recently revealed that he owns DOGE while snoop posted an altered album, Snoop Doge. The bullish movement of the dogecoin will continue through April. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. 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. 2023 Capital Com SV Investments Limited. However, its Dogecoin price prediction then puts the cryptocurrency at $0.0343 by the end of March, trending up to $0.0390 by the end of December 2021. Over the years, veterans of the Doge ecosystem have been fighting its corner against trolls, critics, and FUDders alike, preaching the good word of the dog meme currency. Answer (1 of 6): A 2020 TikTok campaign sought to lift dogecoin's price to $1. Its popularity on social media makes Dogecoin prone to wild price swings, with various attempts by users on TikTok and Reddit to collectively drive up the price causing the market to spike. In the first two months, the price of Dogecoin and other cryptocurrencies like bitcoin has proliferated. And now, defying all odds, dogecoin has a total market value of more than $40 billion, according to crypto market data site CoinGecko, adding over $20 billion in the last 24 hours. It has since made its way down to around 55 cents. The altcoin hit a record 69 cents Wednesday morning, flying past its previous high of 43 cents back in April. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. With that said, the question on many doge fanatics' lips is, "can Doge hit $1 in 2021?". The value of Dogecoin has soared by 774 per cent against the US dollar in the year to date. Dogechain beginning the voting process for its coin burn fueled a bullish sentiment among DOGE holders. Many aim or claim to have utility, or improve facets of the Ethereum blockchain, upon which most altcoins are built. Dogecoin (DOGE) is the latest cryptocurrency to catch a wave, becoming the 12th largest crypto by market capitalisation after Tesla founder Elon Musk posted a series of tweets in the past week. Courtesy of Glauber Contessoto and Rodrigo Ramos. There are many others, and they're preposterous. We want to hear from you. DOGE now has a market cap of $6.39bn, according to digitalcoinprice.com, ahead of altcoins like Uniswap, Aave, EOS and Monero. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. Become a home entertainment expert with our handpicked tips, reviews and deals. The projects latest developments: will DeFi drive adoption of Dogecoin? Between his savings and borrowed funds, Contessoto said, he invested over $250,000 in dogecoin on Feb. 5 when it was priced at . The post Dogecoin Price Predictions: Can DOGE Hit 50 Cents After SNL Debut? These factors are making investors awfully excited about the future of Dogecoin. ", "I had a game plan in mind going into this purchase, and I wouldn't feel right always telling people to 'buy and hold' and as soon as I hit $3 million, cash out and leaving everyone else hanging," he said. In fact, it has hit an all-time high within the first two months of 2021. While 2021 saw the highest total number of gun deaths in the U.S., this statistic does not take into account the nation's growing population. All Rights Reserved. Eventually, penetrate the current all-time in February 2022 to sell at a high of $0.0826640. The massive support from Teslas Elon Musk and other celebrities could boost investors confidence. On the bright side, financial giants including JPMorgan, Citi, and Sachs are contemplating establishing crypto custody. The current price is $0.0814 per DOGE. Ford Motor (F) Gets a Buy from Morgan Stanley, Registration on or use of this site constitutes acceptance of our. In other words, its not just Dogecoin, its the entire crypto market. Dogecoin, the cryptocurrency that features the face of a Shiba Inu dog as its logo, has surpassed 10 cents for the first time. The coin hit 16 cents Tuesday morning before inching up to 17 cents. These are like the penny stocks of the cryptocurrency world. Sign up for free newsletters and get more CNBC delivered to your inbox. The Dogecoin price on launch in 2013 was $0.000232, so the rise to around $0.05 represents a 21,000 per cent increase. Musk posted a tweet last week that referenced The Dogefather and his upcoming hosting gig on Saturday Night Live May 8. Tesla has started accepting Bitcoin payments for its cars and now holds some of the digital currency on its balance sheet. In eliminating three zeroes, one of the most-popular digital currencies on the planet gained more than 37,000%. Dogecoin started out as a joke. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. Do Not Sell My Personal Data/Privacy Policy. Majorities of workers who quit a job in 2021 say low pay (63%), no opportunities for advancement (63%) and feeling disrespected at work (57%) were reasons why they quit, according to the Feb. 7-13 survey. "People are buying the cryptocurrency, not because they think it has any meaningful value, but because they hope others will pile in, push the price up, and then they can sell off and make a quick buck. 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. All rights reserved. Before we get started, we need to discuss the elephant in the room, Dogecoin's volatility. The popular coin briefly dropped below 30 cents on May 23, before . Dogecoin has been climbing again in the past week, hitting 10 cents a coin for the first time on Wednesday. Though he isn't a financial expert, he's optimistic that dogecoin has already hit bottom. Bitcoins supply is limited to 21 million coins, there being around 18.69 million currently in circulation. Do Not Sell or Share My Personal Information. TradingBeasts further forecasts that the cryptocurrency will be traded at $0.0613386 at the beginning of the month and close the month at $0.0619104. Ethereum, the second most valuable cryptocurrency by market cap, also hit an all time high Tuesday, pushing past $3,500 mark. Some of the biggest spikes for dogecoin have come after the token was mentioned by Elon Musk on Twitter, messages that were often accompanied by memes. If you're familiar with cryptocurrency, you know Bitcoin and maybe Ethereum. For instance, Nigeria, the second-biggest bitcoin market in the world, has banned the use of cryptocurrencies. Please refer to our Risk Disclosure Statement. Built by software engineers Billy Markus and Jackson Palmer during the early Bitcoin craze and featuring a "mascot" of the then-popular meme featuring a Shiba Inu dog, the coin was originally conceived as a meta-joke about monetary value and the internet. But Dogecoin is unique, and being in a category all on its own, a more all-encompassing assessment requires one to look at other less-traditional influencing factors. dogecoin guru (@doge_coin_guru) May 2, 2021 This user , for example, is one of many bullish Dogecoin fans who believe the asset will reach the 50-cent mark before the next weekend is out. In other words, the vast majority of those who purchase the coin do so in an attempt to benefit from price fluctuations. DOGE/USD +1.20% + Free Alerts. Dogecoin Price Predictions: Can DOGE Hit 50 Cents After SNL Debut? Dogecoin, worth around 7 cents today, would still have to more than double in value relative to . Dogecoin spent the last 24 hours in a booming state. Dogecoin is 88.99% below the all time high of $0.74. Jack Dorsey Slams Elon Musk's Handling of $44 Billion Acquisition Deal: What Happened? In early February, enticed by a friend who is an avid Redditor, I put $50.00 into the coin on Robinhood when it was at about $0.03 and was able to double my money by selling a week later at $0.07. Similarly, Gene Simmons said he would be buying the currency. Also, Dogecoin has strong community support. Currently, there are more than 129 billion Dogecoins in circulation, and each minute 10,000 DOGE are added into the network. Sign up for our free newsletter for the Latest coverage! Dogecoin started 2021 on a bullish note, doubling on January 2 from $0.005405 to $0.011427, and was trading at $0.007432 on January 27, before the most recent rally took it to an all-time high of $0.07818. The virtual currency, which originally started as an internet parody .