Will DOGE Price Hit $1 Soon?

Date:

  • Bullish DOGE’s price prediction ranges from $0.56538 to $0.72634.
  • Analysis suggests that the DOGE price might also reach $0.9 soon.
  • DOGE’s bearish market price prediction for 2024 is $0.04561.

Dubbed the people’s cryptocurrency, DOGE describes itself as an open-source peer-to-peer digital currency. DOGE was based on the popular doge internet meme. By utilizing blockchain technology, it implements a decentralized system for storing information, making it act as a public ledger maintained with the support of nodes. 

Moreover, DOGE has grown over the years in profits as well as in its fan base. If you are interested in the future of Dogecoin (DOGE) and would like to know the price analysis and price prediction of DOGE for 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Dogecoin (DOGE) Market Overview

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What is Dogecoin (DOGE)?

Dogecoin is an “accidental crypto movement” and was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. One of the main features of DOGE is its endless supply. Despite being based on a meme coin, DOGE, over the years, has significantly grown. Reportedly, retailers have also started to accept DOGE as payment, allowing users to buy products and services with this memecoin.

Basically, DOGE, as described on its official website, is an open-source peer-to-peer cryptocurrency that utilizes blockchain technology, creating a highly secure decentralized system of storing information as a public ledger maintained by a network of computers called nodes. 

Furthermore, one more key feature is DOGE’s rising fan base, which is made up of a” vibrant community made up of friendly folks.” It is expected that the DOGE community focuses on supporting each other, being kind, teaching people about cryptocurrency, fundraising, having fun, making memes, and being absurd. The DOGE community also focuses on promoting Dogecoin “as a viable and legitimate alternative currency to traditional fiat money.”

Analyst Views on Dogecoin (DOGE)

To an extent, crypto holders know that more utilities in the market leads to a bull run in the end. Crypto analyst – Dogecoinride mentioned that Elon Musk has indicated he wants to integrate payments to Twitter. And also that Twitter might achieve 1 billion monthly active users over the next 18 months. If $DOGE is included as a payment option then that implies ONE BILLION people might possibly utilize the money. If that happens, payment with Dogecoin might be able to replace Apple Pay.

Most of the investors who bought DOGE believes that 1 DOGE will reach an equilibrium of $1 just like a youtuber and a crypto investor, That Martini Guy YT.

On November 25, 2022, DOGE was up by 8% and also rumours of integrating it with Twitter also spreading wild ever since Elon Musk started his Twitter reign. DOGE might be able to reach a new high according to Travladd Crypto.

Dogecoin (DOGE) Current Market Status

The maximum supply of Dogecoin (DOGE) is unknown, while its circulating supply is 142,495,896,384 DOGE, according to CoinMarketCap. At the time of writing, DOGE is trading for $0.0917, which represents a 24-hour decrease of 1.57%. The trading volume of DOGE in the past 24 hours has been $452,962,620, which represents a 31.50% increase.

DOGE 1-year chart (Source: CoinmarketCap)

Some of the top cryptocurrencies for trading Dogecoin (DOGE) are Binance, Coinbase, Kucoin, Huobi Global, Kraken, OKX, HTX, and others.

Now that you know what DOGE is and its current market status, we shall discuss the price analysis of Dogecoin (DOGE) for 2024.

Dogecoin (DOGE) Price Analysis 2024

In the previous year, DOGE stayed above the $0.09167 resistance level rarely, which also made it difficult for the memecoin to climb above $0.1. In 2024, DOGE started trading at a relatively better level compared to the previous year. 

DOGE/USDT 1-Day Chart (Source: TradingView)

Currently, DOGE is ranked in the 8th position on CoinMarketCap. Additionally, DOGE is expected to rise with the developments and upgrades within the Dogecoin community, which will lead to a rise in the price of Dogecoin (DOGE). Let us now look at DOGE’s price analysis for the year 2024.

Dogecoin (DOGE) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

DOGE/USDT 1-Day Chart Showing Bollinger Bands (Source: TradingView)

Near the end of 2023, the candlesticks were trading near the top-half region of the Bollinger bands while continuously hugging the upper band. By mid-December, the candlesticks had finally reached their maximum peak and began their retracement procedure. The retracement process pulled DOGE back into the bottom-half of the Bollinger Bands. There may be a chance that the candlesticks could climb to the top half of the region as the wicks touch the lower band. 

DOGE/USDT 1-Day Chart (Source: TradingView)

The BBWP is currently valued at 20.63%, while the signal is at 26.75%. The BBWP and the signal line crossover could signal that the bands may become narrower in the near future, which may put the candlesticks in a consolidation state. The bands have also started to move in together, which could prove that BBWP’s reading is true.

Dogecoin (DOGE) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

DOGE/USDT 1-Day Chart Showing RSI (Source: TradingView)

The RSI has been squirming in the neutral zone since mid-December. During this time, RSI was below the signal line and kept consolidating in a downtrend. The fall into the neutral zone happened after the RSI touched the overbought region. Currently, the RSI is valued at 51.36. By observing the patterns and the RSI’s value, the memecoin may face a consolidation over the next few days.

Dogecoin (DOGE) Price Analysis – Moving Average Convergence DIveregnce (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role as it can confirm trends and identify potential reversals.

DOGE/USDT 1-Day Chart Showing MACD (Source: TradingView)

Looking at the chart above, the MACD has been forming red bars on the histogram, highlighting the short term trend in the market. Additionally, the MACD and the signal line continue to move downward. Despite the short-term downtrend noticed by the indicator, the 50MA and 200MA paint a different picture. In fact, these indicators highlight bullish momentum through the formation of the golden cross. However, the candlesticks and the 50MA are about touch. If DOGE falls below it, then a consolidation period tends to happen. 

Dogecoin (DOGE) Price Prediction 2024

DOGE/USDT 1-Day Chart (Source: TradingView)

In the past, it seems that DOGE was gaining favor from buyers as it was in an uptrend and hitting the upper band of the RSI bands. However, after continuous hits on the upper band, the candlesticks began to start falling, which may be part of the price correction process. Looking at the current trend, the meme coin seems to be moving in a continuation falling wedge pattern.

The falling wedge pattern is expected to continue the bullish trend. There may be a chance that the bullish trend will trigger as soon as the candlesticks touch 50 MA. In order for the memecoin to break beyond the $0.1 level, DOGE needs to showcase a 13.02% spike this year. With the community’s support and the developments happening in the background, there is a higher chance that the DOGE will breakthrough several resistance levels this year. 

Dogecoin (DOGE) Price Prediction – Resistance and Support Levels

DOGEUSD 1-Day Chart (Source: TradingView)

In 2023, DOGE stayed below the $0.9 level and climbed above this level rarely. The surge it experienced in the end may have been influenced by the traders confidence in the memecoin. DOGE has fallen back to the common pullback zone of 0.382. There are two scenarios that could playout—It is expected that either DOGE will start climbing soon or may fall even further below the 0.382 level. 

Dogecoin (DOGE) Price Prediction 2025

If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect DOGE to trade at a premium to its 2024 pricing. As a result, DOGE may be worth roughly $1.181 by the end of 2025.

Dogecoin (DOGE) Price Prediction 2026

As more and more institutional investors flock to the DOGE platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of DOGE may reach $1.460 by 2026, even though the coin has generally depreciated during the same period. 

Dogecoin (DOGE) Price Prediction 2027

It is expected that the halving of Bitcoin in the next year will likely trigger a bull market. In anticipation of this bull run, investors may feel optimistic about the altcoin market; hence, there may be a chance that the price of DOGE may continue to rise and even breach the previously established resistance level. Ultimately, Dogecoin (DOGE) may be worth $2.068 by the end of 2027.

Dogecoin (DOGE) Price Prediction 2028

Bitcoin will be halved in 2028 again, and a bullish run is anticipated this year as well. As a result, DOGE has the potential to reach new resistance levels and may be trading at a higher level than last year. Keeping in mind the BTC halving event that is happening this year, DOGE may be trading at $2.630 by the end of 2028.

Dogecoin (DOGE) Price Prediction 2029

By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of DOGE might reach $3.131 by 2029.

Dogecoin (DOGE) Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they would take advantage of future price gains. By the end of 2030, the price of Dogecoin (DOGE) could be around $3.642, despite the bearish market that followed a market boom in the early years.

Dogecoin (DOGE) Price Prediction 2040

According to our long-term Dogecoin price estimate, Dogecoin prices could reach an all-time high this year. If the current growth rate continues, we could anticipate an average price of $10.5 by 2040. If the market turns bullish, the price of Dogecoin could go up beyond what we predicted for 2040.

Minimum Price Average Price Maximum Price
$8.5 $10.5 $14.3

Dogecoin (DOGE) Price Prediction 2050

According to our Dogecoin forecast, the average price of Dogecoin in 2050 might be above $19.34. If more investors are drawn to Dogecoin between these years, the price of Dogecoin in 2050 could be far higher than our projection.

Minimum Price Average Price Maximum Price
$17.9 $19.34 $22.29

Conclusion

To summarize, DOGE might reach $0.7 in 2024 and $22.29 by 2050 if investors have decided that Dogecoin is a good investment. Moreover, the developments of DOGE will also play a great role in boosting the memecoin price, eventually grabbing the attention of several big market players.

FAQ

What is Dogecoin (DOGE)?

Dogecoin is an “accidental crypto movement” and was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. One of the main features of DOGE is its endless supply. Despite being based on a meme coin, DOGE, over the years, has significantly grown. Reportedly, retailers have also started to accept DOGE as payment, allowing users to buy products and services with this memecoin.

How to buy DOGE Token?

DOGE can be bought on many exchanges, including Binance, Coinbase, Kucoin, Huobi Global, Kraken, OKX, HTX, and others.

Will DOGE surpass its present ATH?

DOGE has a low possibility of surpassing its present all-time high (ATH) price of $0.7376 in 2022.

Can DOGE reach $1?

If DOGE manages to break above the present momentum, then it has the potential to hit $1 in 2024. 

How do I store DOGE?

DOGE can be stored in a hot wallet, a cold wallet, or an exchange wallet.

When was Dogecoin (DOGE) launched?

It was launched in December 2013.

What will be the Dogecoin (DOGE) price in 2024?

DOGE is expected to reach $0.7 by 2024.

What will be the Dogecoin (DOGE) price in 2025?

DOGE is expected to reach $1.181 by 2025.

What will be the Dogecoin (DOGE) price in 2026?

DOGE is expected to trade beyond the $1.460 level.

What will be the Dogecoin (DOGE) price in 2027?

DOGE is expected to reach $2.068 by 2027.

What will be the Dogecoin (DOGE) price in 2028?

DOGE is expected to reach $2.630 in 2028.

What will be the Dogecoin (DOGE) price in 2029?

DOGE is expected to reach $3.131 by 2029.

What will be the Dogecoin (DOGE) price in 2030?

DOGE is expected to reach $3.642 by 2030.

What will be the Dogecoin (DOGE) price in 2040?

DOGE is expected to reach $10.5 by 2040. 

What will be the Dogecoin (DOGE) price in 2050?

DOGE is expected to trade beyond the $19.34 resistance level.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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