Here at Changelly, we treat Dogecoin (DOGE) cryptocurrency with respect, as DOGE is the perfect example of what can be achieved if a cryptocurrency has strong community support. Born as an Internet meme, Dogecoin demonstrates how a simple joke may increase in value and reach a $300M market capitalization. We’ve collected facts about the Dogecoin success story and provided DOGE price prediction.
Dogecoin Origin & Purpose
Dogecoin was designed using the codebase of Litecoin and its development was aimed at providing an alternative to Bitcoin. It should’ve been more approachable and friendly cryptocurrency.
Its most distinct feature, however, is its mascot. The developers of Dogecoin chose a “fun” approach towards its development.
Dogecoin was just a little changed when developed as a fork of Litecoin. New blocks in the DOGE blockchain are created faster than in Litecoin – 1 minute against 2.5 minutes in LTC. Dogecoin’s mining difficulty is adjusted every block found and the reward is fixed. The most distinct change happened in the brand and it became a driving force behind its popularity.
The fun image of the crypto helped the coin to get attention in various social media. The coin turned famous even outside of the community of blockchain technology fans.
Charity & Tipping
For around three years the coin was famous but not actively traded and there were no rapid price movements either. Several charity programs and friendly community helped the coin to get the trust of the community.
The coin grew its user base with the help of the Reddit community and other social platforms. It moved the Dogecoin market cap in rates not even the most bullish analysts could’ve predicted.
Doge price dropped significantly, and its market cap has also left its high point. Still, it is one of the top-15 coins on the market and overall ROI is around 11,000%. It is also pretty popular crypto since Elon Musk is encouraging users to buy it and send it to the moon.
Dogecoin is the tenth by sales and exchange cryptocurrency on Changelly, but despite this, users regularly exchange it thanks to the long existence and development of the coin.
Dogecoin (DOGE) Live Price
Dogecoin (DOGE) Price Analysis
2018 was a tough and bearish year for DOGE. Similarly to the other market, Dogecoin price lowered by the loss of the public’s attention.
Dogecoin price was in a downtrend for all 2018, despite the several times the Dogecoin price was going up for a short period of time. Today, the long term Dogecoin forecast is not very bright.
During the price falls of March, July, and September, Dogecoin was falling along with the market. The DOGE price drop isn’t that bad as it is for Bitcoin and the price spikes after the downtrend show that DOGE was recovering faster than BTC.
Dogecoin is obviously very dependent on the overall interest in the blockchain industry and behaves like most of the other coins, discussed the Cryptocurrency Price Predictions articles published on our website. For example, Zcash and BitcoinCash – both coins mirrored the Bitcoin price graph.
Due to the fact that DOGE depends on the cryptocurrency market movements, predicting its price becomes difficult, especially for the long term.
Dogecoin Trend Analysis
Dogecoin popularity was outstandingly stable over the course of the previous year. You can see on the following graph that the coin even managed to get a search term “Dogecoin” spike in popularity.
The coin was very interesting for Google users in January 2018. A couple of less significant peaks happened in July and December. At the start of 2019, the popularity was around the same level as it was in the same period of 2018, which is a major accomplishment in terms of the industry crisis, happening today.
The price of Dogecoin is not very responsive to media attention. For example, the news about Airbnb caused a price rise against USD in ~3% over 3 days after the announcement.
According to Google Trends, DOGE has its committed audience and most popular in Venezuela.
Similarly to Dash, DOGE turned out to be one of the go-to cryptos in countries where the financial system is struggling. Other countries with a large amount of the “Dogecoin” searches include Bangladesh, Pakistan, Philippines, and Nigeria.
It is a good sign that the coin is used as an alternative to the official fiat currencies of these countries for monetary exchange between regular people.
Recently, Dogecoin’s price went up by 100%. Such a success was waiting for the coin after the publication of the viral video in TikTok, where the user of The Wolf Of Bitcoins showed his mining farm.
A warning has appeared in Dogecoin’s official Twitter account, aimed at potential cryptocurrency buyers. In it, developers urge not to succumb to FOMO and make investment decisions on their own.
Dogecoin Technical Analysis
Well, there is not actually any technical analysis expertise of Dogecoin cryptocurrency. However, here is the aggregate rating for DOGE from several traders & analysts on TradingView.
Dogecoin Price Prediction for 2020 – 2025
Despite all the pumps associated with the DOGE cryptocurrency, the coin rate is very volatile. We can expect both the boost and the fall in the rate.
Wallet Investor DOGE Price Prediction for 2020 and 2025
There will be a positive trend in the future of the asset. DOGE might be a good idea for investing. In 2021, the coin will be stable and cost around $0.05. In 2025, the price can reach $0.07.
DigitalCoinPrice Forecast for 2020 – 2025
According to DigitalCoinPrice source, DOGE is a profitable investment based on the forecast. By the end of 2021, the coin price will reach $0.08. In 2025, the DOGE rate can be around $0.17.
Elon Musk Opinion on Dogecoin Future
Dogecoin has the support from Elon Musk. All of you have already seen the hype that boosted Dogecoin price. When Elon Musk tweets about Dogecoin, the price always goes up. Well, soon to the Moon! Much Space!
Dogecoin (DOGE) Price Prediction for 2030
According to the technical analysis of Dogecoin (DOGE) price graphs, the price of one Dogecoin in 2030 may reach $1. The prediction depends on the whole market situation and mostly on Elon Musk’s opinion.
Does Elon Musk own Dogecoin?
Of course he does. He even bought some for his child.
How and Where to Buy Dogecoin (DOGE)?
It is easy to buy or swap DOGE coins on many exchanges. When purchasing crypto it is important to seize the moment of the best rates as the cryptocurrency market continuously fluctuates. You can always check the Dogecoin cross-rate to other cryptocurrencies on our website.
How Much Are Dogecoins Worth?
Dogecoin’s current market value is about $7,666,149,333 — as of February 2021.
Will Dogecoin Ever Reach $10?
Reddit users suppose Doge to become the currency of the internet. So it can definitely go higher than $10.
Is Dogecoin Dead?
According to Reddit, Dogecoin stays solid on its paws. Some stores accept DOGE coins nowadays. So it’s the best evidence that Dogecoin is alive.
Is Dogecoin a good investment?
Well, Dogecoin started as a joke. However, nowadays the cryptocurrency is still one of the most popular among the crypto community. Despite the fact that the price is not on its highest point, we should
Who Created Dogecoin?
Dogecoin was created by Billy Markus and Jackson Palmer.
Is Dogecoin Mining Profitable?
Mining Dogecoin is not profitable using the Dogecoin mining hardware hashrate.
What Are Dogecoins Used For?
One of the most popular cases to use Dogecoin is tipping users on the internet who create or share content. Dogecoin (DOGE) can be associated with like or upvote with real value that can be used all across the internet.
How Much Are Dogecoins Worth?
Here is a Doge Live Price.
How and Where Buy DOGE at the Best Rate
Changelly allows you to swap and buy DOGE cryptocurrency with fiat using your credit/debit card, bank transfer, or even Apple Pay. Choose the best rate and get some DOGE to your wallet.
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Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.