Dogecoin (DOGE) is a cryptocurrency that is almost universally loved within the cryptocurrency community. Launched in 2013, this Litecoin fork was presented as a joke coin. DOGE turned out to have a big success.
Over the course of its price history, Dogecoin managed to gain a market capitalization of over 2 billion dollars. Dogecoin is to this day one of the most well-known coins in the market. Let’s talk a little about the Dogecoin success story.
Dogecoin Origin & Purpose
Dogecoin was designed using the codebase of Litecoin and its development was aimed at providing an alternative to Bitcoin. It should’ve been more approachable and friendly cryptocurrency.
Its most distinct feature, however, is its mascot. The developers of Dogecoin chose a “fun” approach towards its development.
Dogecoin was just a little changed when developed on top of Litecoin. Dogecoin vs Litecoin shows itself as an even “lighter” coin. New blocks in the DOGE blockchain are created faster than in Litecoin – 1 minute against 2.5 minutes in LTC. Today, Dogecoin’s mining difficulty is adjusted every block found and the reward is fixed. The most distinct change happened in the brand and it became a driving force behind its popularity.
The fun image of the crypto helped the coin to get attention in various social media. The coin turned famous even outside of the community of blockchain technology fans.
Charity & Tipping Coin
For around three years the coin was famous but not actively traded and there were no rapid price movements either. However, several charity programs and friendly community helped the coin to get the trust of the community.
The coin grew its user base with the help of the Reddit community and other social platforms. Eventually, it helped to move the Dogecoin market cap in rates not even the most bullish analysts could’ve predicted.
Today, the coin is not as prominent on the market. Its price dropped significantly, and its market cap has also left its high point. Still, it is one of the top-30 coins on the market and overall ROI is around 350% from the first day of coin creation. It is also pretty popular crypto, despite some bearish Dogecoin projections.
You can find more information about the coin on BitcoinWiki.org.
|Curr. Supply||121,425,901,379 DOGE|
|ROI since launch||308.87%|
Dogecoin (DOGE) Price Analysis
2018 was a tough and bearish year for DOGE. Similarly to the other market, Dogecoin price lowered by the loss of the public’s attention.
Dogecoin price was in a downtrend for all 2018, despite the several times the Dogecoin price was going up for a short period of time. Today, long term Dogecoin forecast is not very bright.
During the price falls of March, July, and September, Dogecoin was falling along with the market. However, The DOGE price drop isn’t that bad as it is for Bitcoin and the price spikes after the downtrend show that DOGE was recovering faster than BTC.
Dogecoin is obviously very dependent on the overall interest in the blockchain industry and behaves like most of the other coins, discussed the Cryptocurrency Price Predictions articles published on our website. For example, Zcash and BitcoinCash – both coins mirrored the Bitcoin price graph.
Due to the fact that DOGE is so linked to the cryptocurrency market movements, predicting its price becomes difficult, especially for long term predictions.
We cannot say that Dogecoin is worth buying and there are bearish forecasts on its future price. Sad but true.
Dogecoin Such Trend Analysis
Dogecoin popularity was outstandingly stable over the course of the previous year. You can see on the following graph that the coin even managed to get a search term “Dogecoin” spike in popularity.
The coin was very interesting for Google users in January 2018. A couple of less significant peaks happened in July and December. At the start of 2019, the popularity was around the same level as it was in the same period of 2018, which is a major accomplishment in terms of the industry crisis, happening today.
The price of Dogecoin is not very responsive to media attention. For example, the news about Airbnb caused a price rise against USD in ~3% over 3 days after the announcement.
According to Google Trends, DOGE has its committed audience and most popular in Venezuela.
Similarly to Dash, DOGE turned out to be one of the go-to cryptos in countries where the financial system is struggling. Other countries with a large amount of the “Dogecoin” searches include Bangladesh, Pakistan, Philippines, and Nigeria.
It is a good sign that the coin is used as an alternative to the official fiat currencies of these countries for monetary exchange between regular people.
Dogecoin Technical Analysis
Well, there is not actually any technical analysis expertise of Dogecoin cryptocurrency. However, here is the aggregate rating for DOGE from several traders & analysts on TradingView.
Dogecoin (DOGE) Price Prediction for 2019, 2020, 2025
Despite the low cost of one coin, the DOGE cryptocurrency is very popular among the users. This fact can help the rate to stay normal and not to drop in the nearest future.
#1. WalletInvestor DOGE Price Prediction for 2019, 2020, and 2025
Doge price can drop to $0.00172 by the end of this year. There will be a positive trend in the future of the asset. DOGE might be a good idea for investing. In the next year, the rate will go up and reach the point of $0.00368. In 2025, the coin price can significantly increase to $0.0184.
#2. CryptoGround Price Prediction for 2019, 2020, and 2025
By the end of 2019, the coin price will reach $0.0026. The source claims that Dogecoin is a profitable investment for a long-term (more than 5 years). In 2020, the asset price will increase up to $0.0033. In 2025, the coin will conquer new heights and reach $0.0141.
#3. DigitalCoinPrice Forecast for 2019, 2020, 2025
According to DigitalCoinPrice source, Doge will double its price to $0.004256 by the end of this year. DOGE is a profitable investment based on the forecast. In 2020, the coin price will reach $0.00552. In 2025, DOGE rate can be around $0.01136.
#4. Elon Musk Opinion
Dogecoin has the support from Elon Musk. Soon to the Moon!
Buy DOGE at the Best Rate
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.