Dogecoin is a decentralized cryptocurrency that allows cryptocurrency users to transfer money online. Interestingly, Dogecoin was created by a joke we all know.
What is Dogecoin (DOGE)?
What started as a fun project involving designing the Litecoin codebase eventually became a coin with a market value of $ 300 million. DOGE perfectly represents how strong community support can do wonders.
The highlight of Dogecoin is its mascot named ‘Doge’, an internet meme with a picture of a Shiba Inu dog that went viral in 2013. Earlier Dogecoin versions had little difference from their Litecoin counterparts. Blocks are now created much faster in Dogecoin compared to Litecoin. The fun element engraved in the soul of Dogecoin draws attention on social media. In fact, it is quite popular outside of the cryptocurrency, crypto and blockchain community. No wonder it is accepted for general payments, including retail chains.
Dogecoin started its journey in 2013 and still enjoys the same popularity in 2020. In fact, this is a long tenure in the volatile cryptocurrency world. Being among the top 30 digital currencies on the market definitely shows its reliability and legitimacy rate.
Dogecoin Price Prediction 2020
The year 2020 has not been kind to cryptocurrencies in general. Most cryptocurrencies touched the lowest point of their lifetime, and Dogecoin experienced it.
However, digital currencies weathered the Covid-19 economic storm better than traditional assets. In fact, Bitcoin stood strong during the March market turmoil, recovering most of its losses fairly quickly.
As far as 2020 is concerned, Dogecoin will likely complete its consolidation to move higher in the next few months. If the use of DOGE as a payment method in daily life increases, it will increase its adoption among the masses. Dozens of online retailers and platforms, including AllGamer and eGifter, now accept payments with Dogecoin. DOGE rose to $ 0.004 in early July 2020, but has since declined to $ 0.0027.
The speed and direction of Dogecoin adoption is similar to that of Tron and IOTA. Cryptocurrency entered the top 25 crypto rankings quite quickly, reflecting its technical and social skills. Now we need to focus on the 2020 Dogecoin price predictions.
Currently, the coin hovers around $ 0.02, with a maximum price of Dogecoin set to reach $ 0.03 at the end of the year if the bullish action returns. This year, Dogecoin price could reach $ 0.03 as long as the markets remain optimistic.
As people become aware of its practical value and the importance of DOGE in the mainstream, the altcoin will likely see further growth over the course of the year.
Will DOGE Reach $ 1?
Dogecoin is seen as likely to improve. Considering the basic background of DOGE, something very gratifying for the community can happen. Dogecoin, which hit an all-time high price of $ 0.017491 in January 2018, unexpectedly rose by a staggering 1.442%.
Let’s take a closer look at the current market volume. Supply and market value are important considerations for the Dogecoin price to increase. In order to increase to 1 dollar, an increase of 513.66% is required. However, the number of active users is a very important factor because there are only a few cryptocurrencies actually used. According to some analysts, as adoption of Dogecoin increases, its price could reach $ 1 to $ 3.5 in about a few years. Of course, this seems quite difficult, but there are still many analysts who do not lose hope.
2025 Dogecoin Price Prediction
In the years to come, Dogecoin will likely survive and may not lose value in the next 5 years. According to WalletInvestor, there will be a positive DOGE price trend. A common prediction for Dogecoin is that its price could rise significantly to $ 0.0184 by 2025.
The CryptoGround price prediction is not far from WalletInvestor. According to the system using the in-house deep learning algorithm, Dogecoin could provide a DOGE price of $ 0.0141 by 2025.
2030 Dogecoin Price Prediction
Making a longer term price prediction for DOGE involves many factors. The price can see 0 or touch new peaks. It is not enough just to review the Dogecoin price chart or technical analysis. This is where the fundamentals of a cryptocurrency come into play.
The 2030 DOGE price prediction certainly looks promising as the cryptocurrency displays fairly strong fundamentals. Partnerships and collaborations will add more value to the blockchain, leading to an improvement in cryptocurrency adoption. The positive Doge price prediction for the next decade puts it in the $ 0.2 range.