What Is The Future Of Dogecoin (DOGE) For 2023?

Dogecoin DOGE Future 2023

✍️ 29 November, 2022 - 19:10 👤 Editor: Jakub Motyka

According to experts' predictions, Dogecoin (DOGE) could surge above $0.2 in 2023, a difference of +59% from the current value. Supporting the claim is the possibility of a better investor sentiment and an improvement in macroeconomic environment.

The canine-themed cryptocurrency was the top gainer a month ago when billionaire and Dogecoin enthusiast Elon Musk acquired social media platform Twitter. Investors' speculations were high that the acquisition would mark the use of the meme token on Twitter. Although the hype seems to have cooled off, DOGE is still recording positive gains.

DOGE Price Steady At $0.08: Can It Reach $0.2 By 2023?

At the time of writing, the ninth-most valuable cryptocurrency was trading at $0.08176 – a price jump of 9%, with weekly losses at 6%. The token's buying activities have increased Dogecoin's market cap by 9% to $10,859,292,087 – according to the latest data from CoinMarketCap. Can the value reach $0.2 by 2023? Below are some of the factors that could pump the price of the leading meme token.

fundador dogecoin
Although the hype of Dogecoin seems to have cooled off, DOGE is still recording positive gains.

Since starting as an internet parody in 2014 – then used for rewarding quality content on Reddit and Twitter - Dogecoin is gaining more use cases. Merchants and organizations, including the Dallas Mavericks, are adopting it for payments. In addition, multiple digital assets platforms, including BitPay, BlockCard, and Wirex, have listed the digital asset. As the trend continues, the demand and the value of DOGE could increase – pushing its price to $0.2 by 2023.

What Is The Future Of DOGE: Key Price Drivers

Cryptos are currently facing a prolonged 'crypto winter' which has been aggravated by the collapse of FTX. Adding to the effect of the macroeconomic factors that subdued cryptos in the second quarter of 2022, FTX fiasco shook investor confidence, causing capital outflow from the sector.

Nonetheless, the enthusiasm around DOGE among its community of users is still strong. Apart from Elon Musk, other celebrities, including Snoop Dogg, Kevin Jonas, and Gene Simmons are bullish on the crypto. Some of them (celebrities) are known for tipping their fans with DOGE. Besides, the rise of DOGE to a price above $0.2 could largely depend on the overall market sentiment. Its popularity among investors and social media mentions are also to consider.

After reading this article, check also how high will Dogecoin (DOGE) go in the next years, apart from the price prediction that points directly to $10.

More crypto articles:

Jared Kirui
Latest posts by Jared Kirui (see all)

Image sources:

Leave a Reply

Your email address will not be published. Required fields are marked *

Go up