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Dogecoin (DOGE) is a pretty unique cryptocurrency that hit the market back in 2013. While developers of other cryptocurrencies and payment systems are trying to surprise potential users with certain technological advances and decentralized solutions, Dogecoin gained popularity entirely differently. The developers used an image of a Japanese Shiba Inu dog as the Dogecoin symbol, a meme that took the Internet by storm.
The coin invented as a joke, gradually developed into an increasingly serious currency. Especially since the IPO and the fact that you can actually shop with DOGE on the Internet, it is clear that this is no longer a joke. Tesla CEO Elon Musk is also increasingly relying on Dogecoin and thus encouraging his followers to buy DOGE. Therefore, it is all the less surprising that cryptocurrency has gained more and more importance in recent months.
But how is the Dogecoin price created? Why is the value falling or rising? What is the Dogecoin forecast for 2021? And the Dogecoin forecasts for 2025? We have taken a closer look at the previous Dogecoin price development and will list a Dogecoin price forecast for the coming years based on indicators and past events.
Dogecoin (DOGE) is a decentralized peer-to-peer and open-source cryptocurrency derived from the Litecoin blockchain. Like most cryptocurrencies, Dogecoin is based on blockchain technology and works according to its principles using a proof-of-work algorithm. When a new block is formed in the blockchain, two cryptographic keys are created: a public and a private key. The public key allows users to view information about the block, while the private key provides access to the owner of the block being formed.
Dogecoin’s block production rate is 6 minutes. This is pretty fast compared to other cryptocurrencies, making Dogecoin an excellent tool for making payments and transferring funds.
A key feature of Dogecoin that fundamentally sets it apart from most other cryptocurrencies is its inflationary nature. Most cryptocurrencies are deflationary. This means that almost all cryptocurrencies – primarily Bitcoin – are structured so that their issuance is strictly limited to a certain number of tokens that can be brought into circulation.
Dogecoin takes a different approach and instead relies on inflation. In this way, new tokens can be mined despite their low value. Newly mined tokens replace lost tokens and thus ensure a constant supply of around 100 billion active tokens. Since most Dogecoin users view this cryptocurrency primarily as a medium of exchange rather than an investment, an inflationary approach could lead to success.
Dogecoin has a constant issuing rate of 10,000 new tokens per minute. According to the developers, the goal of the cryptocurrency is to keep 100 billion coins in continual circulation, which means that once this mark is reached, issuance will continue. Miners are rewarded accordingly. This keeps the required number of coins in constant circulation and makes up for lost wallets and coins.
|Current price in USD||$ 0.0567|
|Current price in EUR||€ 0.04766|
|Total market value in USD||$ 7,297,749,413|
|Total market value in EUR||€ 6,134,000,311|
|Price change within the last 24 hours||-2.22%|
|Updated||10.03. 2021 at 12:00|
The cryptocurrency has already had a few highs and lows. We show the most important milestones in the history of Dogecoin.
Over the years, Dogecoin’s growing popularity has secured demand in the market and enabled it to maintain its position among the leading cryptocurrencies. On December 23 2020, took DOGE by market capitalization with 575,315,664 USD to 44th place.
Dogecoin experienced an upswing in early January when Reddit users began to buy more Dogecoin. This all happened in connection with the sub-credit r / wallstreetbets, where users declared war on major investors by buying various stocks such as Gamestop or AMC. More purchases followed after Elon Musk and Dogecoin tweet hit an all-time high of € 0.075 on February 8, 2021.
Dogecoin is one of the oldest leading cryptocurrencies with an active community backed by Elon Musk. According to experts, Dogecoin is a valuable purchase. The digital asset is expanding its impact on e-commerce and is actively used as the standard crypto for merchant payments, making the asset more attractive and valuable.
Developers plan to connect the Dogecoin network to Ethereum’s, which will lead to even greater adoption. The Dogecoin forecast for 2021 is a high of 0.063 USD, which is quite feasible. Should Dogecoin receive an update this year, the Dogecoin forecast for 2022 of USD 0.07 could be much higher.
|year||Dogecoin forecast low||Dogecoin forecast high|
|2021||$ 0.04||$ 0.063|
|2022||$ 0.043||$ 0.07|
|2023||$ 0.05||$ 0.08|
|2024||$ 0.065||$ 0.085|
|2025||$ 0.0765||$ 0.089|
Experts assume that Dogecoin will rise steadily over the next few years, so the Dogecoin forecast for 2023 and the Dogecoin forecast for 2024 will be between USD 0.08 and USD 0.085. According to experts, the Dogecoin forecast for 2025 can be seen between USD 0.0765 and USD 0.089.
However, as already mentioned, our Dogecoin forecasts are also derived from experts and the last price values of Dogecoin. Therefore, it is important that the interest in Dogecoin does not wane – otherwise, it threatens to collapse.
It is not easy to say whether it is worth investing in Dogecoin. In general, the crypto market is subject to great fluctuations, which is why you should not choose your investment lightly. Of course, this also applies to the likeable Dogecoin. On the other hand, due to its strong community and relatively long history, Dogecoin is a relatively low-risk investment compared to other cryptocurrencies.
Dogecoin is not a deflationary but an inflationary currency. That and the fact that many invest in Dogecoin for pure fun makes the coin a less attractive investment option: You are unlikely to get rich with Dogecoin. On the other hand, unlike most other cryptocurrencies on the Internet, Dogecoin is actively used to donate to projects and thus serves a specific, not just hypothetical, purpose. As a result, it has a lot ahead of others.
So if you just want to try out a little bit and want to be part of a friendly and humorous crypto community, Dogecoin is an interesting option.
According to our forecast and the experts’ forecasts, the value of Dogecoin will continue to increase in the future. However, we assume that the increases will be minimal. Based on the price development so far, it can be clearly seen that Dogecoin was around 0.002 EUR on average before the big crypto hype in December 2020. Therefore, even if Dogecoin is driven further up by Elon Musk, we assume that the price will remain relatively stable now and, if at all, only increase slightly over the next few years.
We do not expect a price explosion at Dogecoin, it is also hard to imagine that the price will rise extremely. Dogecoin is in its nature, an extremely interesting – and also funny – cryptocurrency that is sometimes used for e-commerce, but based on the historical data, we do not expect any enormous price increases.
Dogecoin is one of the oldest cryptocurrencies with an active community backed by Elon Musk. This can be seen either as an advantage or as a disadvantage: Elon Musk now has so much influence on the Dogecoin community that the price can rise or fall with a single tweet. With that in mind, cryptocurrency is still to be treated with caution – the social influence is just too strong. However, should the trend continue to go up, it could well be possible that Dogecoin will connect to the Ethereum network.
Should this happen, the former joke currency could become a promising cryptocurrency representing an alternative means of payment.
The Dogecoin course depends on many factors. Among other things, of course, of supply and demand. Suppose more buyers are willing to buy DOGE, the price rises. However, when there are more sales, the price crashes. Based on our Dogecoin forecast, it can already be seen that the Dogecoin value depends heavily on supply and demand and the success of the exchange.
In general, the price falls when acceptance is no longer there. In addition, influences and moods in social media also determine the price of DOGE. However, since the beginning of the year, Dogecoin has been on a fairly stable course after a brief all-time high on February 8 2021, of € 0.075.
The increase in the price can again be owed to Elon Musk, who really fires up the Dogecoin community with his countless tweets. However, on February 15, 2021, the price of Dogecoin crashed again. The reason? Elon Musk:
In this tweet, Elon Musk urges Dogecoin owners to sell their coins and get his full support in return. As a result, the price of Dogecoin fell from 0.0515 EUR to 0.0436 EUR. And that with a single tweet. Although the price has remained relatively stable since then, it is still subject to fluctuations.
Dogecoin is currently more popular than ever. The reasons for this are many, but mostly due to the influence of Elon Musk and other opinions on social media. While Dogecoin was still trading at EUR 0.0026 in December 2020, the cryptocurrency reached an all-time high of EUR 0.075 in February. The course is currently fluctuating, which would be an excellent way to bet on the course of Dogecoin. Here we recommend the CFD broker TradeATF.
TradeATF is one of the largest online brokers on the internet. The company was founded in 1997 and can score points above all with a large number of assets, low fees and 20 years of experience in the financial market. However, it is important to keep the risk of CFD trading in mind. With CFD trading, you can achieve big profits on the one hand, but also losses. We, therefore, recommend trading CFDs for advanced traders.
If you look at the history of Dogecoin, the cryptocurrency is actually ridiculously cheap. At least if you compare it to other cryptos such as Bitcoin. Nevertheless, Dogecoin is used in various economic areas or for charitable purposes, which makes cryptocurrency quite attractive. However, if you want to rely on well-known cryptos, here are some alternatives :
If you want to invest in cryptocurrencies, you are, of course, spoiled for choice. The most popular alternatives to Dogecoin are:
Another alternative is crypto stocks: chip manufacturers, mining companies and even the Bitcoin Group have so far posted substantial profits. So if you don’t just want to trade in cryptocurrencies, you can also benefit from stocks.
The Dogecoin blockchain has a very high transaction speed and meagre fees, making the cryptocurrency special. In addition, Dogecoin is already used in several areas of the economy, including for charitable purposes and public events.
At least one can say that Dogecoin was once intended as a joke currency but has now developed into a good cryptocurrency that has definite potential. Thanks to the community behind Dogecoin, there is definitely a possibility that the cryptocurrency will become fully established and continue to grow in the next few years.
The disadvantage is the dependence on mood drivers such as Elon Musk – the social component should therefore be included in Dogecoin if you want to buy the coins or speculate on their price development. It will be interesting when Dogecoin is actually included in the Ethereum network – we have to wait and see.
If you want to speculate on the course of Dogecoin, we recommend the CFD broker TradeATF.
Dogecoin is currently tradable in the form of CFD trading on TradeATF.
It is up to you when you want to buy a cryptocurrency. At the moment, however, we advise you to invest in DOGE, as the price will continue to rise in the next few years, according to our Dogecoin forecast.
It can be assumed that Dogecoin will continue to increase. Furthermore, with a possible connection to the Ethereum network, the value could increase many times over.
Dogecoin is one of the oldest cryptocurrencies that was launched in 2013 based on a meme. Dogecoin has long been considered a joke currency but has established itself as a promising cryptocurrency in recent years.
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