Created as a joke and named after a meme, Dogecoin surprised everyone, its creators included, when traders started to talk about it seriously. Dogecoin is cheap to use and is quite fast – these two factors have made it popular. Even Elon Musk himself made several tweets about it.
Of course, Doge’s price prediction can’t be compared to Bitcoin or any other giant of the cryptocurrency world. Still, many miners and investors are watching it closely and considering it as a possible income source.
What Influences the Price of Dogecoin?
You never find solid stability in the world of the cryptocurrency market. The figures are changing every day, and any event can lead to a huge decline or growth. Of course, nobody expects Bitcoin to fail, and some analytics using all their knowledge and experience may make quite accurate predictions. But even they can’t be one hundred per cent sure. So many factors influence value that Dogecoin price forecast can vary from person to person.
Here are the factors everybody pays attention to when trying to make predictions for Dogecoin:
- Availability – Dogecoin can be bought by everyone.
- Long history – the currency was created in 2013, and, despite all the ups and downs, it is still there. This fact alone counts for something.
- The image of Dogecoin. It brings joy and fun in the world of boring figures and fears of losing everything.
- Tips from a loyal and powerful community
- Future that is too unstable to predict. Indeed, how long will people take a meme dog seriously?
- A connection with Ethereum – such noble and powerful friends can’t help but add up to possible strong growth, so Dogecoin value prediction can be promising.
- Competition. You can’t just ignore this fact in any sphere of life, the cryptocurrency world included.
Latest News from Doge Price Prediction Services
As many experts say lately, Dogecoin is still growing. It hasn’t reached its peak yet, so we can hope the best is to come. Unfortunately, the bridge between Ethereum and Dogecoin is weakened now, but this is not the end of the token by any means. As recent surveys show, plenty of merchants are aiming to accept Dogecoin, which can secure future great improvement and development and have some effect on Dogecoin future price prediction.
Dogecoin Past Performance
Dogecoin’s past performance is very crucial for making Dogecoin future prediction about its price. Currently, Dogecoin is worth $0.00755099. The minimum exchange rate for the last 7 days is $0.00449350; the maximum is $0.01060307. It occupies the 31st position on the stock market cap. For the last 24 hours, (the information is for the 5th of January, 2021) the price of Dogecoin has increased by 10.9%. Right now, there are almost 128 billion coins on the market.
Dogecoin Price Prediction for 2021
The Dogecoin prediction about its price now is so – this cryptocurrency is thought to reach $0.0041 in 2021. While many cryptocurrency traders are glued to information about Bitcoin and other more popular coins, Dogecoin, supported by its loyal community, is in the shadow, growing slowly but steadily.
By the end of 2021, Dogecoin’s price prediction is quite optimistic. The value of cryptocurrency is strongly believed to reach $0.04. This doesn’t mean the price will skyrocket, but it is definitely much, much more than Dogecoin had at the very beginning.
Dogecoin 5-Year Prediction
For those who are interested in investment, it is vital to know how a certain cryptocurrency will behave in several years. Though no one can say for sure, some talented experts can create Dogecoin crypto prediction very accurately.
According to them, the price in 2025 will vary from $0.281 to $0.0450. If there isn’t any turmoil, the Dogecoin prediction can make investors quite happy. A long-term gain is expected over the next 5 years.
All this information makes us wonder if Dogecoin can be a good investment. Well, let’s dive into some details and try to find out.
Is Dogecoin a Good Investment?
In 2019, Dogecoin made it to the headlines because of its huge and unexpected growth. Now it is increasing its value quite steadily. The two good reasons for it are its low fees and high speed of transactions – these are things that many other cryptocurrencies lack.
The only drawback about which we can talk for sure is that Dogecoin is growing too slowly. Perhaps, if you want to earn lots of money within a short period, you might consider investing in another currency.
On the contrary, if you are ready to experiment, if you want to have something fun in your wallet, and if you are a fan of this Shiba Inu dog – go on and don’t hesitate! This currency has been on the market for years now. This is a surprising result, considering the fact that Dogecoin was initially thought of as just a joke.
Well, it’s a joke that has become one of the most steadily growing cryptocurrencies and a great long-term investment.
We wish you all the best with whatever cryptocurrency you choose. Be careful and think as long as you need. Good luck!