Dogecoin Price Prediction 2023 – 2030

Dogecoin (DOGE) performed so well that it became one of the most searched cryptocurrencies in many parts of the world, even beating Bitcoin and Ethereum.

And now many investors are jumping head over heels to find out ‘what is Dogecoin’? And ‘Should I buy Dogecoin’? Let’s take a look at Dogecoin’s current price today and Dogecoin’s market cap before we dive into our Dogecoin price predictions for 2023 to 2030.

This guide will discuss our Dogecoin price prediction for both the short and long term, touching on the meme coin’s utility, its future potential, and where you can invest in DOGE today – with low trading fees.

 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

But how realistic are these beliefs? If you’ve ever wondered ‘is Dogecoin a good investment?’ or ‘why is Dogecoin going up?’ — read on, we’ve got answers. We’ll be exploring some of the lastest DOGE price predictions to see how much the meme crypto might be worth between now and 2030.

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Dogecoin Price History

To understand why Dogecoin is regarded as one of the best altcoins, you need to have a good knowledge of its background story. In this section, we’ll discuss how the Dogecoin network came to be, as well as how the price of its native meme token (DOGE) has performed in the past.

Analyzing the past performance of a cryptocurrency is one of the most important steps to take if you’re looking for the top cryptos to invest in, so let’s take a look at how the price of Dogecoin DOGE has changed in the past. As one of the earliest altcoins, Dogecoin existed before the concept ICOs (initial coin offerings). 

What price did Dogecoin start?: According to CoinMarketCap, Dogecoin first started trading at $0.0002. 

What is Dogecoin’s highest price?: At the very highest, Dogecoin reached $0.7376 on the 8th of May 2021.

What is Dogecoin’s lowest price?: At the very lowest, Dogecoin hit $0.00008547 on the 7th of May 2015.

Like much of the crypto market, Dogecoin’s best year was 2021. Starting 2021 at $0.005685, Dogecoin reached $0.1705 by the end of December.

2022 was difficult for most of the cryptocurrencies. DOGE started the year at $0.17 and closed it at $0.07.

Dogecoin DOGE/USD Chart

DOGE/USD price chart. Source: Coinmarketcap

The past performance of DOGE cryptocurrency is always one of the most crucial factors to consider when attempting to make valid cryptocurrency predictions.

Like many crypto assets with super low prices, Dogecoin can be extremely volatile. 

It’s super important to note that though Dogecoin didn’t maintain its all-time high, it still increased substantially in the long-term.

Each time Dogecoin has gone through a major increase, it is followed by a price correction and then a period of stability where prices are higher than they were at the start of the run.

Based on this assumption, it would be highly likely that Dogecoin price prediction will experience another price spike in the future which will be followed by a significant drop.

Dogecoin is the king of meme coins by market capitalization. Now the DOGE predictions are a center of interest for many investors. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Dogecoin Price Prediction 2023

From the few things we’ve discussed, how do you think the Dogecoin price prediction chart will shape up in 2023? Already, we've stated that it has entered an upward trend and that there are high chances that it will continue this way.

In addition to analyzing Dogecoin’s historical prices, it’s important to identify the key factors that could affect its price in the future. This will make it easier for you to make your own predictions based on current cryptocurrency trends and find an informed answer to the question ‘should I invest in Dogecoin?’ 

It’s also important to mention that Dogecoin is one of the most undervalued cryptocurrency in the market right now. While the price is slowly rising, we need to admit that it is nowhere near where DOGE could be in the event of a bullish crypto market.

Based on our research and analysis, we project that Dogecoin will start recovering and record real gain before the end of this year.

Based on that, our Dogecoin price prediction for 2023, we expect the meme coin to reach $0.25 by the end of this year. 

Dogecoin Price Prediction 2024

It’s somewhat easy to identify Dogecoin as one of the most potential crypto asset to watch closely. What most people can’t point out exactly is when the potential explosion will happen. How soon can the meme coin rise to new highs? Our analysis shows that it may not take too long.

Perhaps the biggest obstacle Dogecoin faces is Shiba Inu which although it is younger and has less support (in terms of users), is built on the Ethereum blockchain which means it can support smart contracts and it has already built a DEX (decentralized exchange). Features like this could give Shiba Inu a competitive advantage over Dogecoin.

However, Dogecoin will also need to maintain its loyal fanbase for the remainder of the decade as well. Again, this comes also under threat from Shiba Inu. To do this, it needs to remain highly viral and a fun way to use cryptocurrency, which could be hard to do.

Our Dogecoin price prediction for 2024, therefore, estimates that the leading meme coin could rise to as much as $0.45 per token

If you’re wondering ‘should I invest in Dogecoin?’, short-term DOGE predictions are quite positive. The predictions for 2023 and 2024 range from under $0.20 to around $0.50. If you favour a long-term investing strategy, let’s take a look at the Dogecoin price forecasts for 2025 and beyond. What could we expect to see in the long-term? 

Dogecoin Price Forecast Long Term Outlook – 2025 Prediction

It’s fair to say that Dogecoin has not only survived against the odds but is actually beginning to look like it will be the most popular cryptocurrency. But what does that mean for the coming years? And can DOGE hold its price based on community spirit alone?

So, how could Dogecoin long term price forecast shape up in the next couple of years? Most informed crypto experts predict a major bullish trend. Coin Price Prediction, for instance, predicts a maximum price of $2, which may appear as unattainable.

Dogecoin has shown that it is still a solid investment choice. However, Dogecoin remains one of the most volatile cryptocurrencies on the market. Investors who know how to take advantage of Dogecoin’s wild price swings can benefit from owning DOGE in the long-term investment.

Another topic worth considering is Elon Musk — will his support continue to help DOGE reach new heights or will it have the opposite effect? Furthermore, it’s also worth exploring the possibility of Musk taking control of Dogecoin’s development. Would this be a good thing or a bad thing? We already know that he has offered support before but was rejected by the developers. Could this change?

According to our DOGE price predictions for the next five to ten years, the meme coin is estimated to have a strong uptrend. Considering the fluctuations in the crypto market. Dogecoin can prove to be a solid investment in the coming years.

As for our Dogecoin price prediction for 2025, we expect a major growth pattern that will see the meme token surpass its current all-time high and reach at least $1.75 per token. 

As more people buy Dogecoin, more services will start to offer DOGE as a payment method, increasing its utility in 2025. 

Dogecoin Price Forecast 2030

It’s time to fully delve into Dogecoin long term price forecast. So, how could the price of the meme coin rise in the next seven years? How much of a profit can the coin yield to investors who decide to buy now? Let's explore this further.

Long term Dogecoin price predictions are difficult to make, as the token relies so much on its community for price movement and no platform can really predict group-led trends. However, they can be useful in giving us an idea about current market sentiment towards DOGE.

It’s possible that Dogecoin will rise significantly before 2030. In fact, our long term Dogecoin price forecast is reasonably bullish. However, it is important to understand the factors that could influence this bullish forecast.

Our long term Dogecoin price forecast for 2030 projects that the meme token can witness significant price growth and reach as high as $3 before the end of 2030.

A cryptocurrency research firm by the name of Crypto Research Report is calling for Dogecoin to reach $5.70 by 2030 as the Dogecoin crypto will likely be a very different beast, far from the original joke that started it all.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Potential Highs And Lows Of Dogecoin (DOGE)

Through our research and analysis for this DOGE price prediction, we’ve been able to select key areas of the internet on the Dogecoin price movements. These areas have been identified through technical and fundamental analysis based on the price chart over the last few years. 

The below figures outline the potential highs and lows of Dogecoin forecasts.

Year	High	Low
2023	$0.42	$0.22
2024	$0.54	$0.29
2025	$1.75	$0.74
2030	$4.25	$1.95

 

Enter The Doge Token

Created in 2013, Dogecoin is almost 10 years old making it one of the oldest altcoins on the crypto market (even outdating Ethereum). Dogecoin has also inspired many spin-off coins, the most popular being the highly volatile Shiba Inu (SHIB), which remains as Dogecoin’s biggest rival. Others include:

• Dogelon Mars (ELON)
• Floki Inu (FLOKI)
• Doge Killer (LEASH)
• Wownero (WOW)
• Doge Dash (DOGEDASH)
• WOOF (WOOF)

Dogecoin is also much easier for regular users to understand in a world increasingly about smart contract platforms and DeFi (decentralized finance). Dogecoin simply aims to facilitate transactions and is not aiming to overhaul our entire financial system.

DOGE is sometimes represented by the Ð symbol and can be divided into one-millionth of a coin. There is no max supply of Dogecoin that can exist, which means that Dogecoin is inflationary and lacks the scarcity factor that Bitcoin has. Depending on your point of view, you could see this as either a positive or a negative.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Dogecoin - The Philanthropist’s Cryptocurrency?

Dogecoin’s community has become the stuff of legend in the cryptocurrency world. In fact, it wouldn’t be an exaggeration to say that DOGE’s recent fortunes have been entirely driven by its army of zealous supporters. 

In fact, according to a Galaxy Digital Research report, whilst Dogecoin does have “remarkably strong” fundamentals, it is the ever-growing community that is “determined to meme a Shiba Inu-themed global currency into existence." This is no joke either, as long as Dogecoin remains fashionable, its follower community is enough to stabilise the altcoin within the market.

But whilst many have dismissed it as the “millennials’ cryptocurrency”, the Dogecoin community has actually proved itself as a force for good on several occasions, with the currency being used extensively for philanthropic purposes. 

For example, the Dogecoin community famously raised around $30,000 to help the Jamaican bobsled team go to the Sochi Winter Olympics in 2014. This gained a great deal of media exposure and DOGE actually overtook Bitcoin in transaction volumes by mid-January. 

Then in February that same year, “Doge4Kids” started - a community-led initiative that raised $30,000 for the 4 Paws For Ability charity which provides service dogs to young people with special needs. The Dogecoin community also raised $50,000 to support a charity that builds clean water facilities in Kenya. 

These projects might not have driven Dogecoin’s price to massive highs, but they established DOGE as very much a community-driven coin. As we shall see, this would indeed prove to have significant impact on the price of DOGE. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Power of Reddit

At this stage of 2022, any investor who is not aware of the substantial influence that Reddit can exert over the price of an asset is well behind the curve.

The GameStop phenomenon was some of the biggest news in finance for the first few weeks of the year. The beleaguered retailer's stock price surged from $40 to over $400 in a matter of days, thanks to a group of rebel investors that gathered in the r/WallStreetBets subreddit and decided to play institutional investors and hedge funds at their own game. 

Whereas the big investment firms had started short-selling on Gamestop, the Reddit community started buying up the remaining stock en masse, which pushed up prices and left the big fishes unable to close out their positions before they lost millions. 

The effect campaign ultimately went viral and it wasn’t long before the crypto world had its own price frenzy - with Dogecoin being the asset of choice. After Elon Musk apparently expressed his support for the altcoin, Reddit lit up with users discussing the potential for ‘the next Gamestop’ which eventually led to Dogecoin’s price going stratospheric. 

In April 2021, the r/dogecoin community swelled by 152,928 subscribers in a single week, and at the time of writing the subreddit has over 2.2 million ‘subshibers’ - making it one of the most prominent crypto subreddits there is.

Given the potential of Reddit to drive price growth, this could well continue to be an important factor in DOGE’s future potential as an investment asset. 

The Musk Effect

Despite his main business interests lying outside the realm of cryptocurrency and blockchain technology, Tesla and SpaceX CEO Elon Musk was also voted CEO of Dogecoin in 2019 and has since wielded considerable influence over the cryptocurrency market - especially in recent months.

And where Elon treads, it seems that price surges are sure to follow. We only need to look at how his support of Bitcoin sent prices of BTC surging earlier in 2021, when Tesla acquired a significant holding of the original cryptocurrency.  

We’ve already discussed Elon’s tweet in January, which prompted a Reddit-fuelled price frenzy. Then there’s his pledge to “put a literal Dogecoin on the literal moon”, sent the price of Dogecoin surging by 30% to $0.70 within minutes of the tweet being posted. 

Fast forward to May and Musk has once again put Dogecoin in the spotlight. This time, the SpaceX and Tesla CEO took to Twitter to appeal to developers to come on board and “help develop Doge”. As per the established paradigm, the price of DOGE was on the move soon after Musk’s tweet. 

No one could say for sure that Musk’s comments were the sole reason behind the various price surges, but many crypto analysts believe the tech mogul is so influential that he is able to effectively steer prices. 

Whilst his comments about DOGE have often sent prices up, it’s worth noting that Musk’s U-turn on Bitcoin has been widely seen as the catalyst that sent prices crashing ahead of the China crackdown. 

Few would argue that Elon Musk is a hugely influential figure and his support of Dogecoin could be critical in helping the altcoin to compete with more technically advanced cryptocurrencies. 

What’s The Point Of Dogecoin?

Like many old school cryptocurrencies that launched a little after Bitcoin, Dogecoin is an improvement on Bitcoin. First and foremost, Dogecoin is much faster to use and cheaper than Bitcoin. It owes this improvement mostly to its Scrypt algorithm (also used by Litecoin — more about that connection soon).

Dogecoin is also better suited for microtransactions, because of how divisible it is and because of its speed. Particularly on online forums and platforms like Reddit, DOGE has become a way for tipping people for insightful or funny content.

Dogecoin was created by forking the now-defunct Luckycoin which was a fork of Litecoin (LTC), which is a fork of Bitcoin (you could even think of Bitcoin as Dogecoin’s great-grandfather). Because of this, Dogecoin benefits from updates to Litecoin’s protocol.

Some of Dogecoin’s benefits include:

• Massive online following rivaling that of Bitcoin.
• One of the most volatile cryptocurrencies, which is good because there are more opportunities to buy cheap and sell high.
• Between January and May 2021, Dogecoin increased approximately 12,000%.
• Dogecoin is one of the fastest and cheapest cryptocurrencies and arguably more suitable for everyday transactions.
• Dogecoin is available on many crypto and stock exchanges.

Who Is Behind Dogecoin?

Dogecoin was created by software engineers Billy Markus and Jackson Palmer who wanted to make a satire of the ever-exploding hype around Bitcoin and cryptocurrency. They thought it would be funny to combine cryptocurrency with Doge Shiba Inu memes that were highly popular. And as we know, it was a massive hit online. Dogecoin was never intended to be a serious investment.

At the time of Dogecoin’s creation, Bitcoin and cryptocurrency were still relatively unknown and, in many circles, it was gaining a bit of a bad reputation. The creators of Dogecoin wanted to change that with a more light-hearted approach and reach out to people on a less serious level.

For context, around this period $1 billion worth of Bitcoin was seized from the black market platform Silk Road (primarily used to buy drugs online) and one of the earliest Bitcoin exchanges, Mt. Gox was hacked and up to 850,000 BTC was stolen. Many politicians viewed cryptocurrency as a way to conduct illicit transactions, escape taxation, or just a huge scam. The media toed the line was also largely hostile to crypto.

Dogecoin was extremely useful in helping people change their perspective on cryptocurrency by showing a lighter side to the market. Furthermore, its use of humor and social media reach has likely attracted far more people to cryptocurrency investing than even Bitcoin.

More recently, Dogecoin is developed primarily by the Dogecoin Foundation.

Upcoming Dogecoin updates include:

• Libdogecoin: A library of code that will make it easier for developers to build products compliant with Dogecoin.
• GigaWallet: Aims to speed up adoption of DOGE by making it easier for platforms to accept Dogecoin transactions.

How Does Dogecoin Work?

Dogecoin is open-source and uses a proof-of-work consensus mechanism making it very similar to Bitcoin and older cryptocurrencies, like DASH (DASH). Dogecoin has its own blockchain and is not an ERC-20 token.

As a proof-of-work crypto, this means Dogecoin is minable and for every block mined, 10,000 DOGE is rewarded (in the early days the block reward was completely random). It also takes 1 minute for blocks to be confirmed — 10 times faster than Bitcoin.

Dogecoin does not have smart contracts. For some investors, this could imply that DOGE is lacking behind emerging coins, though for others smart contracts are unnecessary. This entirely depends on your interpretation of what cryptocurrency should be.

Who Owns Dogecoin & Who Accepts Dogecoin?

The key to Dogecoin’s success is that it’s funny. It’s the funniest joke in cryptocurrency and it has been ongoing for almost 10 years. Its humor has allowed Dogecoin to reach more people than more serious investments (boring!) and as of 2022, approximately four million people own Dogecoin.

Dogecoin has been praised online over and over again, particularly by Elon Musk who is seen as an authority on DOGE (it’s his favorite cryptocurrency), and with approximately 63 million followers on Twitter, he has become one of the loudest proponents of Dogecoin. Many DOGE holders likely heard about Dogecoin through Musk.

Other well-known faces that have bolstered Dogecoin’s popularity include Snoop Dogg, Kiss bassist Gene Simmons, and billionaire Mark Cuban. All of whom have shown their support for Dogecoin on Twitter. According to an article by Crypto Potato, more people are now familiar with Dogecoin than Ethereum. DOGE’s social media presence is the biggest factor to consider when it comes to Dogecoin price predictions.

The Dogecoin (DOGE) Wallet

Dogecoin has its own secure wallet to protect your DOGE tokens. Like all other secure wallets, you get a private key and a public key. The former is for your use only, and the latter is for others to transfer DOGE to the wallet.

You can download the digitally hosted dogecoin wallet for free from the Dogecoin website. You have two options for a Dogecoin wallet, depending on your operating system:

1. Multidoge – for Windows, Linux and macOS
2. Dogecoin Core – for Windows 32-bit, Windows 64-bit, Linux 32-bit, Linux 64-bit and macOS

After downloading the Dogecoin app, you have the option of creating a login with your email address, Facebook or Google or your mobile phone number.

You can follow real-time DOGE price charts, and, if you wish, your balance can display in fiat currency.

The Dogecoin wallet is easy to use and stores your DOGE securely. There is even a free app for your mobile phone for Android or Apple devices.

The Dogecoin wallet has excellent protection. If you lose your mobile, all is not lost. The security features built into the Dogecoin wallet include:

1. PIN code lock
2. 2-factor authentication
3. Fingerprint Login
4. Email confirmation for each transaction

A worry for most crypto users is if they lose their private key. With the 4-step protection, it's less of a concern for DOGE users.

Also, you can top up your balance with most other cryptocurrency and send to different altcoin addresses, and the transaction is free between users. If you are interested in trading, you can convert DOGE to another crypto coin with an integrated cryptocurrency exchange.

Customer support for the Dogecoin wallet is excellent with 24/7 accessibility, and the Dogecoin app is available in multiple languages, such as French. German, Russian and Spanish, and many more.

The ease of use for the Dogecoin wallet is attractive to new Dogecoin users. You get your Dogecoin wallet, buy some DOGE and get started HODLing your DOGE or trading, whichever is appealing to you.

How do I get started with Dogecoin Wallet?

It's easy to get started with Dogecoin wallet:

1. Download a Dogecoin wallet
2. Make a note of your Dogecoin private key and public key
3. Open an account with an exchange that sells DOGE
4. Buy Dogecoin (DOGE)
5. Transfer your DOGE to your wallet   

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Should you invest in Dogecoin?

Most Dogecoin price predictions suggest that the altcoin can expect to see a significant growth over the coming years. Leading analysts vary wildly on their forecasts - but if even the most conservative predictions pan out, anyone who chooses to invest in Dogecoin could see good returns. 

When it comes to investing, Dogecoin is a very unique asset. Whereas some might argue that it has no intrinsic value, others might point out that the community aspect of a cryptocurrency should not be overlooked - and DOGE’s price movement today would certainly support this view.

Those arguing that Dogecoin lacks the technical credentials to compete with some of the newer smart coins only need to look at Bitcoin, which, despite being comparatively dated when it comes to infrastructure, continued to dominate the cryptocurrency market.

So can Dogecoin do the same? Realistically, no one knows what the future may hold for the cryptocurrency market - new projects continue to appear, countries continue to regulate and investor sentiment continues to change, but it’s just possible that having a strong community will allow DOGE to weather storms that might sink other cryptocurrencies. 

Since CoinMarketCap began tracking the price of Dogecoin it has risen from its initial price of $0.0002047 to $0.07 at the beginning of 2023. That’s an increase of 34,000% — this strongly suggests that Dogecoin is a profitable investment.

Without a doubt, Dogecoin is a risky investment. Out of the most popular crypto assets, DOGE has one of the highest risk factors. This is primarily because its value has been created out of hype as opposed to technological benefits and use cases.

Dogecoin is one of the most popular cryptocurrencies there is, with a famously loyal community and even support from the business and celebrity world. Whilst some traditional investors may dismiss these qualities, others are starting to realise that they may well convert into positive price movement. Dogecoin is a risky investment, there’s no doubt, but it could well be a good buy and hold for the long term.    

If you’re considering investing in Dogecoin, we’d suggest having an adaptable strategy. DOGE’s price is likely to fluctuate a great deal - especially if there are any more comments from Elon Musk or Reddit-fuelled buying frenzies. As such, the old adage of ‘buy low and sell high’ could well be worth remembering when it comes to Dogecoin. 

If you’re considering investing in Dogecoin, we’d suggest having an adaptable strategy. DOGE’s price is likely to fluctuate a great deal - especially if there are any more comments from Elon Musk or Reddit-fuelled buying frenzies. As such, the old adage of ‘buy low and sell high’ could well be worth remembering when it comes to Dogecoin. 

Where to Invest in Dogecoin

If you do decide to buy Dogecoin, then you’ll need to do so from a crypto exchange that is currently listing the coin. There are plenty on the market, but for most investors, we’d recommend eToro. 

The platform has a solid reputation in the world of both cryptocurrency and retail trading, not to mention offering a user friendly and powerful trading platform that can give you instant access to the market. You’ll also find plenty of information to help build your wider trading strategy, as eToro offers plenty of reviews, trading guides and market news. 

Conclusion — Dogecoin Price Prediction 

So far, we’ve offered the most comprehensive Dogecoin price prediction guide with the hope that it will help readers make better decisions. We covered the most important things you should know, including short term and long term DOGE price forecasts. 

Based on our research and analysis, we submitted that DOGE is one of the most undervalued crypto assets at the moment. We also emphasized that DOGE is one of the cheapest meme coins you can buy now and keep for the future in order to generate meaningful profit.

Despite Dogecoin’s massively volatile nature, Dogecoin price prediction remains highly bullish on the asset up till 2030 which is very good news for investors.

Though there is a lot for team Dogecoin to do over the next several years to enhance DOGE technologically to withstand an ever-evolving crypto market, Dogecoin’s sheer popularity and its loyal following will likely prevail and keep traders interested. As long as Dogecoin’s community remains highly active and continues to grow, DOGE will likely remain safe.

According to these forecasts, it seems that it’s best to invest in Dogecoin if you’re prepared to play the long game. We may be unlikely to see a dramatic price increase, but the charts suggest it could be a smart investment for those who are happy to take long-term positions.

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eToro – Best Platform To Buy Dogecoin

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.