2022 could be a very positive year for Dogecoin (DOGE). In this Dogecoin (DOGE) price prediction, we are going to analyse all the factors that could affect its price in the coming months and years.
2021 showed that Dogecoin was one of the most popular digital currencies in the market, especially during the first months of the year. Now, the question is whether Dogecoin will be able to maintain this price and status or if it would start moving lower.
Disclaimer: the information shared by AltSignals and its writers should not be considered financial advice. This is for educational purposes only. We are not responsible for any investment decision you make after reading this post. Never invest more than what you are able to lose. Always contact your professional financial advisor.
What is Dogecoin (DOGE)?
Dogecoin (DOGE) is one of the largest cryptocurrencies in the world. The coin surpassed $0.60 after being traded below $0.01 for years. But how does Dogecoin work? This virtual currency was created as a meme cryptocurrency that has a Shiba Inu dog as its official logo.
The coin was created as a fork of Litecoin in 2013 by Jackson Palmer and Billy Markus. Nowadays, the coin has gained lots of interest as it became one of the top 10 largest surpassing other digital assets such as Bitcoin Cash (BCH), Litecoin (LTC) or Chainlink (LINK), among others.
Dogecoin is mostly used as a meme coin. It has a large community of fans that create memes and engage in different activities that are usually considered not to be “standard” when it comes to promoting a cryptocurrency or project.
As with any other digital asset, users can send and receive Dogecoin as long as they have a wallet to send and receive it. Moreover, users can also trade this digital asset and use it for many different things.
Dogecoin (DOGE) Fundamental Analysis
When it comes to Dogecoin Fundamental analysis, we need to understand that there are some things to take into consideration. The first thing that we should know is that Dogecoin needs to increase its use cases. It should not only be used to send and receive transactions but it should also play an increasing role in decentralized finance (DeFi) or dApps.
Secondly, Dogecoin has a large influence from its community. That means that the Dogecoin community is always pushing for its adoption. What does it mean? It means that they are always working in order to push for new and unique use cases of this digital asset.
The coming years would be very important for Dogecoin. How will the community work to help it expand? How will Dogecoin deal with an increasing number of copies such as Shiba Inu (SHIB) and others? Is Dogecoin going to be developed further? These are all questions that are very important to understand the way in which this digital currency could work and behave in the coming years.
Dogecoin (DOGE) Price Analysis
Let’s now focus on Dogecoin and how this digital currency behaved over the last years in the cryptocurrency market. According to data shared by Coingecko, Dogecoin is now the 11th largest virtual currency in the world with a price per coin of $0.1669.
Now, this price seems to be very high compared to the price that this virtual currency had during the last years and since it was created.
As you can see in the image above, Dogecoin’s price has always been below $0.01 until 2021. Things changed with the bull market experienced by Bitcoin at the end of 2020 and in the first half of 2021.
Dogecoin was able to reach an all-time high of over $0.68 per coin in May 2021. However, the price of the virtual currency dropped to $0.20, where it has been for the remaining part of 2021. With a price of $0.16, the question is whether DOGE is moving down to $0.08 or if it would move higher once again.
Dogecoin (DOGE) Market Price Prediction
Let’s now focus on what could happen to Dogecoin in the coming years with this Dogecoin price prediction.
Dogecoin (DOGE) Price Prediction 2022
2020 could be a positive year for Dogecoin. Why? Because if Bitcoin continues to move higher, it is also expected for altcoins to follow. At the moment there is no clear information on whether Bitcoin could continue its bull market or whether a new bear trend started.
If the bull market continues and Bitcoin spikes to unprecedented levels, we should then see Dogecoin skyrocketing as well. Instead, if the market continues tanking or moving sideways, then we should see DOGE falling compared to other digital currencies.
AltSignals has also conducted a short-term price analysis on Dogecoin. As AltSignal’s analysts explain, Dogecoin has been at the forefront of crypto news and on the tip of Elon’s tongue in 2021, which brought a messy price action and manipulation.
As they say, Dogecoin could be in a bull flag, it might be possible to enter some trades with stops below the ascending trendline. The targets include $0.033, $0.40 and $0.44.
Dogecoin (DOGE) Price Prediction 2023
Depending on what happens to 2022 and how the market behaves, then we should change our analysis for 2023. If we have a bull market in 2022, then 2023 could then be the correction. Instead, if we have a bear market in 2022, 2023 could be the continuation of this bear trend.
This is why several investors could look at 2023 without many positive expectations. However, things could change for better if the market then turns bullish and breaks the usual bull and bear cycles. If that happens, then we should see a 2023 year full of positive news for Dogecoin and other digital currencies.
As always, this would highly depend on many factors. Will Bitcoin continue to move higher? Will the cryptocurrency market be in a bear trend? If we understand these things, then we would be able to understand what to expect from Dogecoin in the coming months and years.
Dogecoin (DOGE) Price Prediction 2024
Things could be different for 2024. Again, we need to focus on the different cycles that virtual currencies experience throughout the years. Dogecoin would not be the exception. If the there is a bear market during 2022 and 2023, then we could see the beginning of a new bull market for Dogecoin and other virtual currencies.
This is something that could certainly happen if we take into consideration how cryptocurrencies work. Let’s not rofget that bull markets start slowly. Hence Dogecoin could start moving higher but without registering a new all-time high. This is something that could happen in 2025. forget
This year could be similar to 2019 in the cryptocurrency market or late 2020. It would highly depend on how market participants react and how they behave in the coming years.
Dogecoin (DOGE) Price Prediction 2025
Finally, 2025 could be a positive year for Dogecoin and other cryptocurrencies. Despite the fact that this could become a reality, you should know that it is impossible to predict what could happen to virtual currencies. They are very volatile and anything can happen to them.
If a bull market starts in 2024 and continues throughout 2025, then we could see Dogecoin moving higher and perhaps reaching new record highs. This would also depend on whether there are other similar digital currencies to Dogecoin and if Elon Musk gets involved.
If it is already difficult to understand what could happen to virtual currencies in just a few weeks, analysing a bull market in 2025 is even more difficult. Consider this as educational content and not financial advice. We are not financial advisors and we do not give buy or sell recommendations.
How to Buy Dogecoin (DOGE)?
Let’s now focus on how to buy Dogecoin and how we can do that in just a few simple steps. Although this can change depending on the platform, these are very standardized steps that would be very similar in each of the exchanges that you use.
Step 1: Search for a Cryptocurrency Exchange and Open an Account
The first thing that you should do if you want to buy Dogecoin is search for a cryptocurrency exchange. This is something that would let you not only have access to Dogecoin but also to other virtual currencies.
Nowadays, it is possible to find very useful virtual currency exchanges in every single region of the world. Make sure that the platform you select lets you deposit fiat currencies (your local currency). In addition, you should check whether Dogecoin is supported or not.
Finally, you should open an account. This process would require you to share some information such as an email account, a password and perhaps a valid ID document.
Step 2: Deposit Funds
If you are convinced about buying Dogecoin, then you have to deposit funds. This would only be possible if you create a cryptocurrency exchange account. Crypto exchanges support nowadays a wide range of payment methods. This is in order to make it easier for users to deposit the funds they want in just a few simple steps.
Most crypto trading platforms will let you use bank transfers or debit and credit cards. These are the easiest methods to deposit funds on a cryptocurrency exchange. If they request you to buy a digital asset, make sure you buy a cryptocurrency that would then be exchanged for Dogecoin. Some options include USDT, BTC and ETH.
Step 3: Buy DOGE
The third step is to buy Dogecoin. This is what we were waiting for. You should go to the “trading” section of this cryptocurrency exchange and search for a trading pair that supports Dogecoin. For example DOGE/USDT.
In this way, if you deposited USD or EUR and purchased USDT, you would be able to exchange them for DOGE seamlessly. Some exchanges may let you buy DOGE directly without going through the “trading” section.
You can also select a market order or a limit order. If you want to immediately buy Dogecoin, a market order would be ideal. Instead, if you can wait, then a limit order would be better.
Frequently Asked Questions (FAQ)
These are some of the most recurring DOGE FAQs that we want to answer in just a few words.
What is Dogecoin?
Dogecoin is a blockchain network that is powered by DOGE. DOGE started as a meme coin and that is now one of the largest cryptocurrencies in the market.
Difference Between Dogecoin and DOGE
There are some differences between Dogecoin and DOGE. Despite people using these concepts interchangeably (most of us does) Dogecoin and DOGE have different purposes. Dogecoin is a blockchain network that was created as a hard fork of Litecoin.
DOGE is the virtual currency that runs on top of Dogecoin and that powers the whole Dogecoin ecosystem. As you can see, there are some differences between these two concepts. Dogecoin is a blockchain network and DOGE is a cryptocurrency.
Where Can I Buy DOGE?
You can buy DOGE at any of the largest cryptocurrency exchanges in the world. Some of the best platforms to do so include the following: Binance, Coinbase, Coinex, Okex, KuCoin, and Poloniex, among others. It is up to you to decide the crypto exchange that you use to buy DOGE or any other virtual currency.
