Dogecoin is a blockchain-based peer-to-peer digital currency. The first explanation of Dogecoin that comes to mind is that it is a joke crypto motivated by the “doge” meme, but the exciting point is that Dogecoin managed to create a sustainable and friendly community, got a capitalization of more than one billion dollars and still exist as one of the most significant currencies on the cryptomarket. This coin came to life in 2013. The market has been under constant pressure, and this has changed the entire phase of the crypto coins. Because of this turmoil, the investors are demanding for DOGE forecast. Our predictors give you possible future costs after careful analysis.
Dogecoin Price Prediction
Dogecoin which was primarily held as a fun coin has begun to confuse the market movers as a lot of interest started pouring in from investors. A majority of cryptocurrency enthusiasts are beginning to notice the true potential behind Dogecoin and its native coin DOGE. The coin is not pre-minted but a passionate coin whose supply rises by a trifling 5% annually. Dogecoin price prediction for 2017 was $0.0783. This was the highest price achieved by this coin at that year. The coin was doing well till the crisis hit the market. This changed the whole phase of the coin and started to drop its values. At the moment DOGE is trading at $0.00498, which is pretty low compared to the value of 2017.
Is Dogecoin Worth Investing?
DOGE can be a profitable investment option. Dogecoin price equal to 0.00377 USD at 2018-10-31. If you buy Dogecoin for 100 dollars today, you will get a total of 26531.44 DOGE. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-10-30 is 0.0136 US Dollars. With a 5-year investment, the revenue is expected to be around +256.52%. Your current $100 investment may be up to $356.52 in 2022. Dogecoin (DOGE) price today is $0.00377 and have the current supply of 116,779,201,214 DOGE. The market cap value is $447,801,543, and the volume is marked as $10,857,062.
Dogecoin holding strong?
The crypto market has been deep in the red for some time. Most of the altcoins are down by over 15%. In such a market, the last crypto you would be supposed to be holding its value is Dogecoin. But interestingly, it is pretty much the only significant crypto performing well today. Dogecoin is still above $0.005 and is only down by less than 5%. This goes to show that gaining momentum is still active in Dogecoin (DOGE) even as the market continues to spiral downwards. There is also the fact that investors are starting to realize that Dogecoin (DOGE) could emerge as a default payment system on the internet. It is genuinely decentralized crypto, and has an active community behind it, and allows for quick and low-cost payments. This makes it the ideal replacement for fiat in the digital age. After this, people are beginning to take Dogecoin (DOGE) seriously as an investment, as can be seen in its consistent rise in price, which has seen it go against the rest of the altcoins market. According to DOGE analysis, this coin could reach great heights in the crypto market.
Dogecoin can help to solve Ethereum scaling problems
Dogecoin which was considered to joke crypto is now coming to the rescue of Ethereum. It is a known reality that Ethereum is suffering a lot of scaling issues. Dogecoin is helping the Ethereum network test several scaling methods. The main intention of the organization is to guarantee that the participants who are attending the computational work are compensated appropriately. The affirmation is currently going on as per schedule.
Looking at the current roadmap of the crypto, it won’t be shocking if Dogecoin continues to grow in value, all through the year, and outperform all other cryptos including Bitcoin (BTC). This digital currency has the potential and could be the future.
Disclaimer: This feature should not be exercised as, and is not designed to provide, investment advice. Coinpriceprediction and its affiliates, employees, and writers give the information about the coin with careful analysis. Please conduct your thorough study before funding in any crypto.