DotBig: Dogecoin price prediction
The name sounds unusual for a decentralized financial instrument. We all know the Doge meme, but what about the coin? Actually, this coin is dedicated to this meme. This unique concept is one of the reasons why digital currency became so widely discussed. Considering these discussions, investors can be wondering if this asset is a worthy buy. Can Dogecoin be a good alternative to Bitcoin in 2022? Is it worth buying right now? Let’s talk about this in our new review.
Introduction to DOGE
The concept of the meme coin was designed by Billy Markus and Jackson Palmer. They launched Dogecoin in 2013. This coin runs on the Litecoin blockchain. Since the date of its foundation, it has been showing safe and stable operation.
This is totally the merit of developers, who took the project very seriously, even though it was initially created as a joke over Bitcoin. The simple design and compatibility with different devices are the major benefit of Doge for users. It doesn’t require unique smart skills, which makes it a good alternative to Bitcoin for beginners. DOGE might be used to pay for products and services online similar to other DeFi coins.
One more positive feature appreciated by market participants is the continuing hype around this digital coin. Constant discussions make such reviews as this one always relevant. So let’s see, how its value can change tomorrow and in the following years.
Will the DOGE coin price go up in 2022?
In 2021, DOGE was supposed to be a good long-term investment. At the beginning of 2021, it was valued at $0.037 and then reached $0.68 for a short period. At the start of 2022, it dropped because of the general market crash in May. Today, you can buy it for $0.0682. Is it worth buying right now? We guess yes, and here is why:
- Dogecoin has the capabilities to become a functional coin, not just a speculative one. It’s supposed to recover its market cap, which will make the rates increase even this year.
- Technical research of the coin shows its future growth. Within 5 years, the value of this asset is supposed to grow by more than 770%.
- Elon Musk is the biggest supporter of Dogecoin. His appreciation is a great factor for this cryptocurrency because this support adds a lot of value to this asset. Great support and memes posted by the billionaire were one of the major reasons why Dogecoin reached so surprising heights in 2021. On June 19, 2022, the founder of SpaceX wrote that he will keep supporting Dogecoin. That day, the price of DOGE increased from $0.060 to $0.065.
Relying on the news, data, and indicators, we predict that by the end of 2025 this digital currency will be valued from $0.2 to $0.6. This makes it a good choice for investors who follow long-term strategies, as even the lowest expected growth will bring almost a 200% gain.
We believe that it’s the right time to buy DOGE today. Nonetheless, even despite our positive forecast, driven by technical analysis, you should make your own research. Keep in mind that no one can make an exact forecast on crypto. Make sure to consider all potential benefits and downsides before making this investment.