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After the great success of Bitcoin, Dogecoin was launched in December 2013. In one month, more than one million people visited the official website. Today, the currency has grown by more than 5,000% by 2021.
Dogecoin was created by Billy Marcus, Oregon, and Jackson Palmer. It started as a joke, but who would have thought it would become such a big deal in the cryptocurrency world. Merchants also use it to receive payments all over the world.
The big question today is: When Will Dogecoin Reach $10?
Dogecoin is a cryptocurrency that started as a joke and has taken on an entirely new, successful life. It was created by Billy Markus from Portland in 2013 when he saw the need for such currency around Christmas time to send money between his friends.
It is mainly used for payments, but recently, it has also been used to reward people with small tokens for interactions on social networks.
DOGE was designed to be easy to use and is now expected to have a higher inflation rate.
Dogecoin is an inflationary currency, and bitcoin is a deflationary currency, as only a few bitcoins can be produced and used for mining.
On the other hand, Doge has no such limitations and is therefore inflation-proof, which adds to its advantage.
Dogecoin Price Forecast 2021
At the beginning of 2021, DOGE traded at $0.007 and remained stable until mid-April. In May, the altcoin traded at $0.34.
After Elon Musk appeared on the famous comedy show SNL and announced on Twitter with “Dogfather,” the price rose sharply. On May 8, the price rose from $0.58 to $0.69 in one day.
Since the beginning of the year, the “dogecoin” meme-inspired cryptocurrency has been on a roller coaster ride of highs and lows. After raising more than 15,000% to an all-time high of $0.74 on May 8, it quickly plummeted back down as low as $0.22 on May 19 before bouncing up again over two weeks later to around 0.27 USD per Dogecoin – still roughly 10 times higher than its original value from January 1 when it cost just 2 cents!
The currency recovered some of its losses to reach USD 0.43 on June 3.
After falling to USD 0.31 on June 8, the DOGE, along with the BTC, ETH, and other altcoins, soon recovered some of its losses with the news from El Salvador that the BTC had been officially recognized as legal tender.
Overall, the fact that the altcoin has a solid community base suggests that the price of DOGE could reach new heights.
In this context, the price of Dogecoin could reach its highest value of USD 0.974 by the end of 2021.
On the other hand, DOGE has always had a dump and dump scenario in this region.
Investors can be expected to sell all their shares when the target is closed.
If this or other external force affects the meme token, the DOGE token price could fall to $0.201 by the end of 2021.
Dogecoin Price Forecast for 2022
If the altcoin ends this year on a high note, 2022 could start with a $0.99 rise.
Otherwise, if this price goes down, trading could continue in 2022 in the same direction at $0.21.
The fact that Dogecoin is accessible to mine has always kept altcoin at the top.
In addition, popular cryptocurrency exchanges such as Gemini and eToro have listed Dogecoin this year, leading to a sharp rise in price.
If the coin is listed on other popular exchanges next year, the price of DOGE could rise again and reach $2,382 by the end of 2022.
However, given the usual buying and selling pressure, the average price of Dogecoin could reach $1639.
On the other hand, Dogecoin is negatively affected because digital currency is still not highly valued.
Many believe that this is just speculation, and if this opinion does not change, the price could fall to $0.474.
Five-year Dogecoin Price Forecast
Elon Musk’s surge of enthusiasm for Dogecoin could contribute to the price rising and reaching a peak of $7,833 in the next five years.
Secondly, if Doge survives significant future growth in a highly competitive sector, its average value will be $5 497.
On the other hand, if specific issues related to cryptocurrencies, such as non-payment and poor performance, affect the market, their price could fall in the coming years.
The minimum potential drop could therefore be around USD 4 123.
What is the market saying?
The price of digital Bitcoin
According to Digital coin price, the price of Dogecoin will increase in the coming years. By the end of 2021, it could trade at around $0.3589.
In 2023, a meme token could sell for around USD 0.5154 and by the end of 2025 for approximately USD 0.7102.
According to Wallet Investor, Dogecoin is an excellent long-term investment. It will grow steadily in the coming years in the trading area, reaching USD 0.329 in 2021.
According to Cryptonewz, the price of Dogecoin will exceed the dollar by the end of 2021.
In case of a highly bullish trend, the price could reach $1.7, and on the contrary, if the bears take control, the price could end the year at $0.91.
The price could reach $1.4 in 2023, stay above that, trade at $1.7 in 2024, and end at $1.96 in 2025.
Capital.com predicts Dogecoin will trade between $0.3 and $0.33 by the end of 2021.
After a slow and steady rise, the price could reach $0.75 in 2025 and exceed $1.00 in 2026.
We possess all the information necessary to decipher the riddle; When Will Dogecoin Reach $10. All in all, Dogecoin is a cryptocurrency that has experienced an incredible boom in recent months, albeit somewhat volatile. Thanks to the community’s help, it is very likely that the price will increase in the coming months. We hope this article has clarified When Will Dogecoin Reach $10.
I am Lavinia by name, and a financial expert with a degree in finance from the University of Chicago. In my blog, I help people to educate by making wise choices regarding personal investment, basic banking, credit and debit card, business education, real estate, insurance, expenditures, etc.