Dogecoin (DOGE) talk is all over the placeon Reddit, on Twitter, and even established analysts are weighing on it on financial media. However, Dogecoin still has the potential to reach 1 dollar. Therefore, we believe Shiba Inu's 50 Cents is an impractical . The Motley Fool owns and recommends Bitcoin. Due to the exponential nature of the network effect, which is the main driver of Dogecoins price, it is possible for Dogecoin to reach ten dollars. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised by the Securities Commission of The Bahamas with license number SIA-F245. Bitcoin is approaching a $1-trillion market cap, is increasingly becoming a tool todiversify institutional portfolios, andhas a growing set of infrastructure andfinancial products supporting it. According to Cryptwerk, an online directory that provides information about where cryptocurrency is accepted, only 1,900 merchantsworldwide accept payment inDogecoin. One of the reasons Dogecoin and other cryptos have suffered in recent months is the instability of the market in general. The Doge Day 4/20 event that fans had hoped would help drive the tokens price to $1 turned out to be underwhelming as the price actually fell. The Shiba Inu coin, launched less than a year ago and named after the dog breed, is a cryptocurrency that trades as SHIB and champions itself as the "Dogecoin killer." A single SHIB coin is . Une pice de mme n'est jamais facile prvoir. 583. Next: Apple User Lost $650k In iCloud Crypto Scam. The altcoin also got a boost from more. ", Join half a million readers enjoying Newsweek's free newsletters. The initial target is to lift the price to $1, as hitting that milestone will make more people to start taking the so-called joke currency more seriously. Bitcoin to 'no longer be the controlling interest' - investors warned. Dogecoinskyrocketed almost 12,000% from the start of 2021 up until the beginning of May, when it hit an all-time high of $0.74. Good job! After a strong rally in the middle of the month, the DOGE was able to climb to more than $0.091. Potts said it was "unlikely" dogecoin would ever be a stable token but added it could become a "niche currency" for certain purposes, such as monetizing "likes" on social media. GME's spike was fuelled by short-sellers being forced to cover their positions as the stock's value rose instead of tumbling but it gave hope to other traders looking to make money this year. Favorable mentions by celebrities such as Elon Musk, Snoop Dogg, and Gene Simmons have also boosted DOGE. Update: January 26, 2022 - Dogecoin (DOGE) is the father of all meme coins and it remains the preferred one for many people. In this video, I discuss what needs to take place in order for Dogecoin to reach new heights and maintain them as well. That's an increase of nearly 1,442% since its . Since its creation in December 2013, it has risen 42,000% in eight years, so. The $1 target first became relevant in the Dogecoin community when the largest meme coin by market capitalization hit an all-time high of $0.73, in May 2021, nearly two years ago. Oddly enough, these include high-profile celebrities like Mr Musk and TV chef Guy Fieri. This is a joke coin never meant to stay alive this long, nor to reach these market caps and market exposure. However, Dogecoin has virtually no real-world utility today. World richest person & owner of Tesla Elon Musk brings Dogecoin into Billion dollar worth crypto. In the span of just one year, it became one of the ten largest crypto projects with a market cap of more than $88 billion. When he is not writing, he is looking to meet new people. As we've seen, this can push the token to new heights, but it can also quickly reverse whenspeculators lose interest. There isn't anything stopping anyone from easily creating a new digital currency that attracts people's attention. I would have been okay with losing the $50.00 (I half expected to), which meant I was pleasantly surprised when I made a small profit. Our forecasting model sees Dogecoin reaching $0 in 2040. Market Realist is a registered trademark. Even during the height of meme-stock mania at the beginning of 2021, it still was a long way off. The DOGE price soared from $0.004681 at the start of 2021 to its all-time high of $0.7376 on 8 May 2021, a gain of more than 15,650%. Few days Elon musk changes his twitter bio and add hashtag Bitcoin and 8th February 2021 sources confirm that $1.5 billion worth bitcoin invested by Tesla. After being thrust into the spotlight earlier this year by South African billionaire Elon Musk, Dogecoin has gone from strength to strength. Dogecoin's bull run through the crypto markets is showing no signs of slowing down, with the memecoin breaking new records this week. People may receive compensation for some links to products and services on this website. ; Aragons; Azrbaycanca; ; Bn-lm-g; ; ; Catal; etina; Dansk; Deutsch; That puts a $10 price target firmly out of reach; no matter how many people buy. As we've seen, this can push the token to new heights, but it can also quickly reverse whenspeculators lose interest. When Dogecoin hits one dollar, it's sure to break the internet. At a price of 72 ($100), Dogecoin's market value would be in the trillions - comparable to the world's biggest GDPs. By Money Morning Staff Reports, Money Morning October 13, 2021 Shiba Inu is up over 300% in less than a month. Its first major. Electronics retailer Newegg recently added dogecoin as a payment option for online purchases. It's exceedingly hard to create a corner and bid something up unless you control a significant part of the supply, which was the case in the GameStop fiasco.". The Dogecoin supply is unlimited, and currently, around 130 billion DOGE tokens are in circulation. Dogecoin price reached an all-time high of $0.45 in April 2021. ", The professor conceded that it was not impossible, however. The crypto ended 2022 at $0.07029, but enjoyed something of a recovery in January, closing the month at $0.09617 before sliding down to a low of$0.08017 on 10 February before making something of a recovery to around$0.0866 on 21 February. What has propelled blue-chip cryptocurrency bitcoin lately is uptake by big investors. Speculation. It is still one of the favorite jokes around, even Elon Musk joins the fun occasionally but we simply do not see the grounds for Doge long-term success. Elon Musk's support was integral to Dogecoin's rise to popularity, and his influence within the community has not diminished. Will Dogecoin ever reach $100? Even with the relatively high possibility of reaching a dollar soon, the price of DOGE still has a much better chance of doing so than the other popular meme coin, Shiba Inu. Invest better with The Motley Fool. A roadmap and governance for the future of Dogecoin. Owning it now would be a move based purely on speculation. I wish I woulda read this article in November or December..MucH WoW!!! If you are considering investing in cryptocurrency coins or tokens, we recommend that you always do your own research. The chances of DOGE hitting $1 in 2023 seem high according to Coincodexs DOGE prediction, the meme coin could be worth as much as $1.21 in May 2023. In fact, Markus recently wrote on Reddit that he sold his coins for (only) about enough to buy a used Honda Civic. The cryptocurrency Dogecoin was created in 2013, but it wasnt until early 2021 around the time of the now-infamous Reddit-fueled GameStop and AMC short squeeze sagas that the coin started to attract more mainstream attention. From its current price of just under $0.15, Dogecoin would need to rise more than sixfold to reach the $1 mark. Last week, in a significant move for the industry, crypto trading platform and exchange Coinbase fetched an $85 billion valuation in its stock market debut. Presently, Dogecoin is trading above its 200-day simple moving average, and its performance in the last three years is over 3,000%. In other words, it would most likely take too much money to push DOGE to such heights. Furthermore, because there isn't much in the form of real-worldutility andno fundamental catalysts, it is impossible to even remotely predict the chance of price appreciation. Meanwhile, investment banks Goldman and Morgan Stanley plan to offer bitcoin exposure to their wealth management clients. The $258bn lawsuit was filed in June by investors who have lost money on the token, arguing that the defendants profited tens of billions of dollarswhile knowing that the value of dogecoin depended solely on marketing. 2023 BDG Media, Inc. All rights reserved. Dogecoin's 10,000 Rule Currently, miners earn 10,000 DOGE per block, which happens about once per minute. At this rate, explains Reddit user EthereumDream, miners add more than 5 billion coins per year. 306. Square, and MicroStrategy have also made huge investments in the crypto. Capital Com Online Investments Ltd is a limited liability company with company number 209236B. Its use case is already taken up by bitcoin and other more serious projects. But Dogecoin communities is always a nice place for a good laugh it is a meme kingdom of cryptocurrency world. On Monday, April 19, Dogecoin's market capitalization (equated by multiplying a coin's current price by its circulating supply) hit $50 billion for the first time, with the coin itself hitting. DOGE climbed to $0.2819 on 24 October, but turned bearish into 2022 along with the broader markets, remaining in a downward trend with lower highs and lower lows. In spite of the celebrity endorsements, Dogecoin is not the only meme coin circulating these days. The dogecoin price took off in 2021 as cryptocurrency markets rallied, gaining popularity on social media and prompting the launch of other shiba inu dog-themed coins. Ultimately, though, this is a question that you will have to answer for yourself. Some argue that Dogecoin does not stack up when compared to tried and tested digital currencies like Bitcoin. Dogecoin is designed to inflate, with 5 billion coins being added to the 100 billion surplus each year.This allows Dogecoin to be spent more liberally, without hoarding from early adopters that speculate its asset value from its limited supply. However, it's impossible that Dogecoin will ever get to $100 per coin. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. Dogecoin (DOGE) Price $0.089 Market Cap $12.29 B Continue Reading From The Original Source This was due to support from influential people such as Elon Musk and Mark Cuban. Maximum Lengths, Explained, Spotify AI DJ: How The New Feature Works (And Where To Find It), What Happened To Snapchat Games? Should I Sell or Buy Bitcoin Before Halving? What started as a joke in December 2013 has grown to become one of the top ten cryptocurrencies in the world based on market cap. The recent price action in Dogecoin left the tokens market capitalization at $11,249,040,750.29. So it arguably isnt in the same league as Bitcoin, and is, in turn (according to some) not a wise long-term investment. it was started with Wall Street Bets reddit investor group has pumped Dogecoin value along with targeting two stocks also and its price jumped as high as 850%. Conclusion: Yes, Dogecoin Can Reach $10. Bear in mind that past performance is no guarantee of future returns. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The average trading price is expected around $0.119988. No, our prediction model sees no possibility for Dogecoin to reach $1 in the short or mid-term period. Can Dogecoin Reach $10? So will Dogecoin reach $1? Will Shiba Inu Coin Reach 50 Cents? At a current price today of $0.21, the Dogecoin market cap now has a value of $31 billion dollars. Speculators are still majority in the crypto markets and they dont care what they buy as long as they think it will bring them money. Also, considering that the coin has made roughly 5,000 percent gains in the past year, its not ridiculous to assume that the coin could triple in value (or more) in due time. Since its creation in December 2013, it has risen 42,000% in eight years, so significant price appreciation wouldn't be unprecedented. It seems unlikely that. Lets Get @amazon To Accept #DOGE https://t.co/llxEFwUdOQ. By Sarah Smith, Editor-in-Chief, InvestorPlace.com Jan 28, 2021, 8:13 am EST. The Dogecoin price is $0.08, a change of 0.47% over the past 24 hours as of 8:42 p.m. What Is Shiba Inu (SHIB)? Jason Potts, economics professor and co-director of the Blockchain Innovation Hub at Royal Melbourne Institute of Technology (RMIT) University in Australia, told Newsweek he would be "surprised" to see the dogecoin price rocket to $1 levels because, unlike Bitcoin, there is no supply cap. Everything you need to know[EXPLAINED]Elon Musk 'wrong' to think DOGE is the 'currency of the internet'[INSIGHT]. But theyre afraid of betting against it with money, especially with a backer as powerful as the Reddit crowd that initiated the epic GameStop short squeeze. Here, we discuss Dogecoin's performance history and answer the question, can the Dogecoin price reach $1? Why The Feature Disappeared. The Motley Fool has a disclosure policy. At the recent peak, it was worth more than 75 cents and the market cap more than $80 billion. A Psychology graduate from England who now lives in the US, John previously worked in the aviation industry as an airline reviewer. While it's fair to say that anything is possible in the cryptocurrency world, the likelihood of Dogecoin reaching $1 is pretty slim in my opinion. If Shiba Inu gains 30% a year (assuming a burn of 50% of its supply) it will take 43 years for Shiba Inu to reach 50 cents. Let's examine why. It worked. Now, with dogecoin trading around 17 cents, he continues to buy the dip. Remember that past performance is no guarantee of future returns. The majority of projects will fail some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. The dogecoin community believes the altcoin is worth much more than the market currently values it. If you rely on the information on this page then you do so entirely on your own risk. Doge sees huge growth in market cap volume and as per the top exchange portal Doge demand increases and more investor started holding doge in their portfolio. For DOGE to hit $10, it would need to rise nearly 3,800 percent. Recent weeks and months have not been great for cryptocurrencies in general, with many having lost significant value since 2022 began. The majority of retail investor accounts lose money when trading CFDs. I mean, its shocking to me that GameStop continues to hold any value, Novogratz said. Coindesk data at 7.11am BST shows DOGE is exchanging hands for 0.498515 ($0.693527) per token. To put the meteoric rise into perspective, software engineers Billy Markus and Jackson Palmer conceived the token as a joke in 2013. If it's worth 127 billion, adding $5 billion will increase the value so of 127 billion is (For example) making doge worth $200 then raising the cap increases the value due to the amount of Fiat that goes into it. The spike followed Coinbase IPO that generally boosted cryptocurrencies across the board. Most famously, a concentrated effort by Reddit-based traders pumped the share prices of Gamestop (GME's) from just 14.40 ($19.94) on January 11 to as high as 234.67 ($325) just 18 days later. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Since there's no supply limit, the only way for Dogecoin to reach $1, or go beyond, is when there's a considerable difference in the amount of money being injected and the coins being mined. Dogecoin price forecasts vary but they generally lean bullish. Because there isn't nearly enough money in the world, it would be nearly impossible for Dogecoin to reach $100. In early February, enticed by a friend who is an avid Redditor, I put $50.00 into the coin on Robinhood when it was at about $0.03 and was able to double my money by selling a week later at $0.07. In the world of cryptocurrency valuations, I would say, historically the question is less about 'why?' To make the world smarter, happier, and richer. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. The community has launched several campaigns to drive up the price. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. A summer rally brought the price up to $0.351 on 16 August but it fell again to $0.1945 on 26 September. End of 2024 - Dogecoin's surge to $0.60 should make numerous investors FOMO and eager to get into the market before the coin . The most crucial part of the game. While Im not offering financial advice here, all things considered, the short answer is probably, yes. Positive, growing sentiment surrounding the cryptocurrency industry as a whole (in just the past few weeks, DOGE, BTC, and ETH all hit all-time highs), a community of passionate Dogecoin supporters, and plugs from tastemakers like Elon Musk all could drive the price up higher. So, although Dogecoin has reached 50 cents per coin before when many people didn't think it would, with the . Although it has since decreased in value, as of Thursday, April 22, the coin is the seventh-largest cryptocurrency by market cap, at roughly $36 billion. This is thanks to its ever-growing community. DOGE dropped to $0.1107 on 13 March before making another attempt at the $0.17 level on 5 April. Vitalik Buterin, co-founder of Ethereum said: There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well. Dogecoin price prediction is expected to stay strong and head towards its first $1 mark towards the end of 2021. Novogratz has stated that he wouldnt take the dangerous risk of trying to short dogecoin even though he doubts its long-term prospects compared to bitcoin. The current price of Dogecoin sits at $0.085 USD, which is some ways away from its primary goal of hitting the $1 marker. There is no real way of predicting where Dogecoin is headed and analysts fear DOGE's gains this year are fuelled by hype and speculation, rather than genuine value, and that could lead to the bubble bursting. After all, the coin was worth only $0.005 on January 1, 2021, and $0.1715 by December 31. Will DOGE be among those 5%? As of9 Februsry 2023, the cryptos price stood at about $0.088,having fallen nearly 90% since its all-time high of $0.7376 in May 2021. In contrast, bitcoins supply is capped at 21 million units. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. But Dogecoin is unique, and being in a category all on its own, a more all-encompassing assessment requires one to look at other less-traditional influencing factors. SecuX V20 & W20 Review Is This Hardware Crypto Wallet Safe & Legit. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. Dogecoin price reached an all-time high of $0.45 in April 2021. Now trading under $1, will dogecoin reach $10 someday? Dogecoin is slowly dropping below the market cap positions it was in 2017, with no particular interest and real world use cases in sight, aside of sporadic utility in charity tipping. As we know Elon Musk is following Bitcoin and he loves the technology of Blockchain and wanted to start crypto as payment. Apple's sales dropped by 5.49% year-over-year in Q4 of 2022. You can find John on Twitter @J_Finns or email at john [at] screenrant [dot] com. But, overall, usage is currently quite limited. According to the foundations website, it aims to provide: Support for the dogecoin cryptocurrency through development and advocacy, Dogecoin trademark defence to prevent abuse and fraud. Dans un march trs haussier, cependant, une augmentation massive de plus de 50% est galement possible. Dogecoin is not a good investment in our opinion. To reach $100 by 2030, Dogecoin would need to have $18 trillion invested in it. However, Cheems follower continue to rise so does and meme popularity also increasing at global level. With a steady improvement, the price managed to reach $0.003 by mid of February and further declined to $0.0015 by mid-March. Dogecoin price analysis shows that the coin was relatively stable from 2013 until the cryptocurrency markets took off in 2021. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. Dogecoin would lose its appeal in that scenario. With bearish sentiment taking hold of crypto markets, DOGE traded down to $0.04972 on 18 June, its lowest level since early 2021.