How High Will Dogecoin (DOGE) Go In the Next Years

2 years ago · Updated 2 years ago

The meme token Dogecoin (DOGE) has climbed 142% in the past week following Elon Musk's Twitter acquisition.

Driven by a growing institutional adoption and a strong community, DOGE could go as high as $2.3, according to TradingBeast. But... how high will Dogecoin go in the next years?
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Dogecoin (DOGE) has jumped 142% in the past week and 26% in the last 24 hours, to exchange for $0.1453, after the self-proclaimed ‘doge father,’ Elon Musk, finalized Twitter buyout. The market value of the cryptocurrency, which started as a joke in 2013, has more than doubled from $7.9 billion to $19.3 billion.

DOGE Peaked At $0.63 In 2021 Amid Rising Use Cases

DOGE trading volumes have also seen a significant growth - up 17% in the past day to over $7 billion. Despite the strong upward price movement, the canine-themed token is yet to reclaim its all-time price high of $0.63, reached in 2021. So how high will Dogecoin (DOGE) go in the next few years? To try answer this question, we look at the different price predictions from experts.

dogecoin predicción — Let's take a look at the price predictions to see how high will Dogecoin (DOGE) go in the following years.

Dogecoin is a proof-of-work blockchain that lets miners use computers to solve mathematical problems for a chance to process and record transactions in Dogecoin blockchain (and earn DOGE token rewards.) Something notably different from Dogecoin and other blockchains is lack of a supply cap (also referred to as inflationary) - a factor that makes it less efficient as a store of value.

The first DOGE price prediction puts the value of DOGE at $0.2 in 2023 with $0.13 as the minimum. The minimum projected price is lower than the current DOGE value of 14 cents. Part of the reason backing the prediction – a rise in the utility value of DOGE.

Dogecoin Also Gaining Use Cases Among Institutional Investors

Although speculations and fewer fundamentals drives the cryptocurrency, it is getting utility among major corporations like Tesla, AMC Theaters, and GameStop. Tesla CEO Elon Musk said that the meme crypto could be used in Twitter transactions.

Dogecoin DOGE Price Graph Last Year November 2, 2022 — Graph with the price of Dogecoin (DOGE) during the last year until today, November 2, 2022.

Also big on the Dogecoin blockchain is its ardent community of supporters. According to Galaxy Digital Research, Dogecoin has a strong fundamental and an ‘ever-growing’ community of users. The sentiment is part of the reason why Dogecoin has expanded to become the eighth-most valuable digital asset.

Despite critics faulting the meme token as 'pure hype,' TradingBeast thinks otherwise. The Brokerage firm believes that DOGE has the potential to rise to $2.3 by 2025, owing to its resilience in the crypto space.

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Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.