Dogecoin (DOGE) Price Prediction 2024/2025/2030

Dogecoin is the most popular meme coin around, at least by market cap. As of early 2024, DOGE is ranked tenth globally, strengthening the meme coin narrative with each passing day. However, DOGE traders and investors are more concerned about how high the crypto will move in the days and years to come, as opposed to its imposing market cap. Therefore, this guide will delve deeper into the Dogecoin (DOGE) price prediction model till 2035, charting the probable path and expectations of the asset.

Notably, our 2024 price prediction for Dogecoin (DOGE) held as this leading meme coin exceeded expectations and surpassed the $0.179 mark. With Pepe charting new highs, DOGE can be expected to surge further as 2024 still has a long way to go.

Dogecoin (DOGE) price prediction until 2035

Pressed for time? Here is a quick table that covers the key price levels for Dogecoin (DOGE) until 2035.

The figures aren’t random. Assuming we have all the price points till 2030 (covered in the technical analysis section below), we can easily extrapolate the available data sets and analyze Dogecoin’s potential price levels up to 2035.

It is time to track the historical price action of DOGE, which might help with Dogecoin market analysis, all the way up to 2035 and beyond.

Dogecoin technical analysis: Historical points since 2014

Before we discuss the possible price movements of Dogecoin in 2024, it makes sense to trace the path from 2014 — when the coin was new and moved without any sentimental influence.

On Aug. 10, 2014, Dogecoin (DOGE) reached a low of $0.00007. A rapid increase followed, lasting several days.

A long and steady downtrend followed until around mid-2015. Prices gradually increased until Jan 30, 2017, when gains accelerated.

Dogecoin experienced a dip in mid-2017 before another rapid price spike commenced. On Jan 7, 2018, DOGE/USD reached its highest recorded value.

Since that time, the price has followed a downtrend despite several spikes.

A spike occurred at the beginning of April 2019. Between 2014 and 2019, there have been several significant uptrends. A subsequently significant downtrend followed each. We have noticed that these upward moves vary in the amount of volatility and the timeframe in which they occur.

Calculations from 2014 to 2019

Here is what we noticed:

The price creates a swing low. After a short period, the price makes a rapid upward move. A slower decrease then follows this. The decrease ends when the price reaches the original low. Afterward, a long uptrend begins.

The timeframes for two significant upward moves which share these characteristics are shown in the table below:

However, this means that our analysis in 2019 focused on the two following points:

1. Defined the current pattern we believe to be developing
2. Applied the pattern to test for future price levels

However, Elon Musk’s intervention in 2020-21 changed the entire focus of the price model, making 2021 the reference point for a new kind of more bullish analysis. We shall get to that later in this discussion.

Also, DOGE’s community holding power between 2014 and 2019 was unmatched, which was another reason for the massive surges.

“Do any of the new batch of meme tokens have active communities or are they all just bot reply guys?

They don’t seem to have the same community holding power that early Dogecoin did.”

Adam Cochran, Partner at CEHV: X

For meme coins, community is the key.

Dogecoin (DOGE) short-term analysis in 2024

Now that we have taken a look at the pre-Musk era, where Dogecoin didn’t move all that aggressively, it is time to shift focus to 2024. This year could see a crypto bull run, and DOGE, being one of the top meme coins, should be able to surge ahead. 

Let us now focus on the short-term analysis to see how the start of 2024 could be:

For starters, DOGE is currently trading inside an ascending wedge. While a breakout above the upper trendline was attempted in December 2023, the current levels hold dear to the support line or the 200-day EMA (blue) line. If this level breaks, with DOGE trading at $0.078 at press time, we could see a low of $0.059 forming in 2024. 

In case the bull market sentiments push this bearish trend out, DOGE might have the legs to move as high as $0.099 in the short term. However, for that to hold, the red line or the 50-day EMA line needs to move away from the 200-day EMA line. 

Per the last update, the bulls pushed the price of DOGE to $0.22 a few weeks back, which was in line with expectations.

Now that we know DOGE’s potential in 2024, let us look at the broader patterns. 

Here is another look at DOGE’s endless potential, especially in 2024:

Dogecoin price model and weekly analysis

Firstly, the weekly chart of DOGE/USDT showcases bullishness. Notice how the price is forming a lower high, whereas the RSI is showing positivity with a higher high formation. This makes us all the more optimistic about the Dogecoin price prediction going into 2024 and 2025. 

Let us now track the price changes starting in 2021, a watershed year for Dogecoin.

Notice how the price analysis starts at A, quickly moving to an all-time high of C. After reaching C, there have been a series of lower highs. However, the recent trend shows that a higher high formation, or a C1, is on the cards. Here are the price and day-specific changes.

Using the charted points, we shall now locate all the high-to-low and low-to-high levels. Then, we shall use the data to find the average price hike and average price drop for our future analysis.

Calculations

So, the average price surge stands at 690.93% in 72 days.

And the average price dip stands at -68.81% in 115 days.

Do note that these levels are approximate and might vary in real. 

Dogecoin (DOGE) price prediction 2024

Outlook: Bullish

Now that we have the last low in J, we can use the average price hike of 690.93% to plot C1 — the Dogecoin price prediction high in 2024. 

However, as the bull market hasn’t taken effect yet, instead of the average hike, we can take 227.09% as the expected hike — the second-highest price percentage — and plot the expected level to be at $0.179. The number of days can be anywhere up to the year-end. The minimum price of DOGE in 2024 can take support at $0.059, per our short-term analysis.

A sentimental driver that could push the prices higher in 2024:

Update: As DOGE has already exceeded our expectations for 2024 by hitting $0.22, the next high that can be expected is $0.34, at least 70% from the last high identified in 2024.

Projected ROI from the current level: 128%

Dogecoin (DOGE) price prediction 2025

Outlook: Very bullish

If DOGE scales a high of $0.179 by the year’s end, we can expect some correction leading into 2025. Per the average dip expectations of -68.81%, the drop would be anywhere close to the $0.056 level. This aligns with the current support level we expect DOGE to steady itself at. 

From this level, after the weak hands are removed, we can expect an average price hike of 690.93%. Also, we expect DOGE to have additional use cases by this time, primarily led by Elon Musk’s indulgence. Therefore, the 2025 high can be expected to surface at $0.445. 

Projected ROI from the current level: 466%

Dogecoin (DOGE) price prediction 2026

Outlook: Very bullish

Based on the price expectations leading into 2025, we can expect DOGE to form a low of $0.138, down by 68.81%, in 2026. And the 2026 high might not be as aggressive as 2025, considering market saturation, extended sell-offs, and more. Therefore, a more conservative hike estimate in 2026 would be 227.09%, which roughly translates to $0.454 by 2026 end.

Projected ROI from the current level: 200%

Dogecoin (DOGE) price prediction 2027

Outlook: Bullish

Assuming the 2026 level holds, 2027 might mark the beginning of a bear cycle, and meme coins like DOGE might not have the legs to chart 100% gains.

If you look at the price projection chart for 2030, you will see that the price of DOGE might move higher and lower than the middle point of the extrapolation. Assuming 30% is the standard surge for a meme coin, the 2027 price prediction high for DOGE could surface at $0.578.

Projected ROI from the current level: 285%

Dogecoin (DOGE) price prediction 2028

Outlook: Very bullish

Our analysis expects the prediction metrics to change by mid-2028, depending on the adoption of DOGE and the network growth. Also, memecoins have a tendency to explode after being silent for a year. Keeping these pointers in mind, DOGE can move as high as 75% in 2028, compared to 2027 — the lowest surge level per Table 1.

This puts the 2028 price prediction for Dogecoin at $0.979.

Projected ROI from the current level: 552%

Dogecoin (DOGE) price prediction 2029

Outlook: Very bullish

The first hurdle for DOGE in 2029 would be the $1 mark. This crucial psychological level, if breached in 2029, can propel the price of DOGE to newer all-time highs. Based on the analysis, another 70% to 75% surge can be expected. Notice how, in time, DOGE’s per-year surge percentage turns more practical. This happens when a coin or project matures.

Based on these insights, DOGE can even cross $1.50 in 2029, provided the network health stays. Our highest price analysis would be $1.66.

Projected ROI from the current level: 1000%

Dogecoin (DOGE) price prediction 2030

Outlook: Bullish

Keeping the expected 2029 low and the 2026 high levels in consideration as swing lows and swing highs, we can expect DOGE to assume a level of $2.81 by 2030 end. Even without the extrapolation, the expected 2029 high of $1.66 puts DOGE’s value at over $2.50 in 2030.

Projected ROI from the current level: 3470%

Historical Performance of Dogecoin: Major Milestones and Influential Events

Dogecoin has had a rollercoaster journey since its inception in 2013, marked by significant price milestones and influential events that have shaped its trajectory. Understanding Dogecoin’s historical performance provides valuable insights for making informed Dogecoin price forecasts and crafting accurate DOGE predictions.

Early Years and Initial Popularity (2013-2017)

Dogecoin was created by software engineers Billy Markus and Jackson Palmer as a joke, inspired by the popular “Doge” meme. Despite its humorous origins, Dogecoin quickly gained popularity within the crypto community, thanks to its active and enthusiastic community. One of the earliest milestones was the fundraising event to send the Jamaican bobsled team to the 2014 Winter Olympics, raising over $25,000.

During this period, Dogecoin’s value remained relatively low, typically trading for fractions of a cent. However, its high supply and active community support kept it relevant.

“Dogecoin’s tokenomics are terrible on paper. Dogecoin was initially designed with a maximum limit of 100 billion coins, but this cap was removed in 2014, making Dogecoin an inflationary currency with an unlimited supply.

This is the exact opposite of what people are usually hoping for when it comes to economics. Approximately 5 billion new Dogecoins are added into circulation each year, which means that a lot of buying pressure is going to be needed to keep the price stable. The tokenomics have scared many smart people away from the project over the years, and they could definitely be better, but it obviously shouldn’t be a dealbreaker.”

Ben Armstrong: Creator of BitBoy: YouTube

Surge in Popularity and Major Price Milestones (2018-2020)

Dogecoin saw increased attention in 2018 during the broader cryptocurrency market boom. Despite the subsequent market downturn, Dogecoin maintained a strong following. In 2019, Elon Musk, CEO of Tesla and SpaceX, began tweeting about Dogecoin, calling it his favorite cryptocurrency, which significantly boosted its visibility and credibility.

In July 2020, a viral TikTok challenge encouraged users to buy Dogecoin to push its price to $1. This campaign led to a short-term spike in its price, illustrating the power of social media influence on the future price of Dogecoin.

The Elon Musk Effect and Market Explosions (2021-2022)

The most notable period in Dogecoin’s history came in early 2021. Elon Musk’s frequent tweets and endorsements, including calling Dogecoin “the people’s crypto” and his appearance on Saturday Night Live, played a pivotal role in propelling DOGE to new heights. In May 2021, Dogecoin reached an all-time high of approximately $0.74, driven by Musk’s influence and a wave of retail investor interest.

However, this peak was followed by significant volatility. Despite the dramatic rise and fall, Dogecoin continued to hold a substantial market presence.

Key elements related to Dogecoin (DOGE)

On Dec. 6, 2013, Dogecoin, the inaugural meme coin, was launched. Many crypto users and meme enthusiasts rallied behind the new crypto almost immediately after its initial release.

Since then, the DOGE community has grown, and the price of the asset has skyrocketed. It’s still worth significantly less than $1, but has gained the attention and backing of many celebrities and crypto big-shots, most notably Elon Musk.

The meme coin’s long-term appeal isn’t random. In this article, we examine the reasons behind DOGE’s success and attempt to predict future prices for the cryptocurrency.

Dogecoin price prediction: How it unfolded

We have been tracking DOGE since 2019, and in 2024, the historical data will play a significant role in evaluating the future prices of this meme coin. Let us explore this further.

At the time of our first analysis on Apr 26, 2019, the price was trading close to the descending support line outlined below:

Our 2019 DOGE analysis predicted that the asset’s price would increase toward the resistance area at some point in the near future. But that was in 2019. Over time, DOGE reached an all-time high of $0.7376 on May 8, 2021, making many in the crypto-sphere believe in the potential of this meme coin.

Dogecoin fundamental analysis

There are three primary ways to value an asset:

• Use-value is based on what an asset can be used for.
• Exchange value is essentially the price at which the asset can be bought or sold at a certain point in time.

In 2024, Dogecoin is over ten years old and remains a popular cryptocurrency despite a relatively low price per coin. The asset can maintain relevance because it can display a competitive advantage in each of the following valuation categories.

Proven usability

Most cryptocurrencies have the same intended use-value: to be used as currencies. This means they are designed to be used to exchange in peer-to-peer (P2P) transactions.

There are many types of P2P transactions, one of which is tipping. Originally, Dogecoin was used as a form of digital currency specific to tipping online, courtesy of its fast confirmation times and low transaction fees.

Another similar use is fundraising, wherein a community of individuals donate funds together for a common purpose.

The Dogesled fundraiser, the first of its kind, was successful. Over $50,000 of Dogecoin was raised and successfully converted into fiat dollars. Other fundraisers have followed in the years since.

This first fundraiser, however, was vital. It illustrated that a so-called “joke internet currency” could be used for real-world purposes. Furthermore, Dogesled allowed Dogecoin to display its use-value very early in the crypto’s life.

Low price, high exchange value

As of 2024, Dogecoin has been trading under $0.10 for a number of years. Such low values may signify a poor exchange value. However, the exchange value of a cryptocurrency is not solely derived by its conversion rate into a fiat currency like the dollar.

The exchange value of a currency is determined by many factors, including:

• The ease by which exchanges can take place with the currency
• The versatility of the currency
• Resistance to inflation
• Integration into a micro-economy

Given these metrics, Dogecoin has displayed a consistently high exchange value since its birth. As alluded to previously, the asset has been used for fundraising and tipping across a variety of social media platforms and within a variety of diverse industries, including retail, e-commerce, pornography, gambling, and many others.

Here are some of the other fundamental aspects that keep influencing the price action of DOGE:

Regulatory Changes

Regulatory changes are one of the most critical factors that influence Dogecoin’s price. Governments and financial authorities worldwide are increasingly focusing on the cryptocurrency market, implementing regulations to ensure investor protection and market stability. For example, recent regulatory frameworks in the U.S. and Europe aim to standardize cryptocurrency transactions and enforce anti-money laundering (AML) laws. Such regulations can either bolster investor confidence or create uncertainty, depending on their nature and implementation.

Market Sentiment

Market sentiment plays a pivotal role in the Dogecoin market analysis. Public perception, social media trends, and influential endorsements can lead to rapid price fluctuations. For instance, tweets from high-profile individuals like Elon Musk have historically caused significant price spikes. In May 2024, Dogecoin experienced increased attention after Musk’s announcement of integrating Dogecoin payments into his companies’ services, further influencing the Dogecoin price prediction 2024.

Broader Crypto Market Trends

The overall trends in the broader cryptocurrency market also affect Dogecoin’s price. As Bitcoin and Ethereum set the market tone, Dogecoin often follows suit. In 2024, the market saw a bullish trend with increased institutional investments and broader adoption of blockchain technology. This positive market environment contributed to the upward Dogecoin forecast 2025.

Dogecoin inflation: What does that mean?

In most cases, the tokenomics of any crypto is strongly correlated to the price action. Here is how this holds for Dogecoin.

With an indefinitely large supply of coins to be mined, Dogecoin displays resistance to inflation. Plus, if you look at the yearly inflation, DOGE stands at 3.47%, which is at par with any meme coin.

Bitcoin, on the contrary, has a finite supply of coins. Once all bitcoins are mined, the demand for the cryptocurrency could exceed supply.

While this might benefit investors, it impedes the usage of Bitcoin as an actual currency by those who do not have the money to purchase Bitcoins. If the demand for Bitcoins reaches a certain threshold, even satoshis could become an impractical means of exchange.

In other words, a Bitcoin worth tens or hundreds of thousands of dollars may become too expensive for anything except investing. Dogecoin’s supply, however, can grow to continue exceeding demand. This can keep the price low even as the market cap increases.

In the long term, a finite supply of exceptionally expensive assets might hinder Bitcoin’s adoption. However, Dogecoin may be better positioned for long-term adoption with an indefinitely large supply and relatively small price.

Bitcoin may find use as an investment tool within a microeconomy of investors, while Dogecoin may continually be integrated into an ever-expanding network of diverse microeconomies.

In short, Dogecoin has various fundamental advantages over its competitors. This does not mean that higher prices are guaranteed, but it does suggest that the adoption of DOGE in various sectors of society appears likely in the long term.

Last but not least, DOGE’s association with Tesla CEO Elon Musk has been a clear price driver.

“Peak cycle things are going to get weird, I mean weird as shit. Last cycle peak was sports sponsorships, Tesla buying BTC, Elon going on SNL to shill Dogecoin, and El Salvador adopting BTC. This cycle will be an order of magnitude wilder.”

Will Clemente, Co-Founder of Reflexivity Research: X

Latest Developments as of May 2024

In May 2024, several notable developments have shaped Dogecoin’s outlook:

1. Integration with Major Platforms: Dogecoin has been integrated into more mainstream financial platforms, including PayPal and Robinhood, allowing easier access and transactions for users. This integration is expected to drive more adoption and influence the Dogecoin price outlook in 2030.
2. Elon Musk’s Continued Influence: Elon Musk continues to be a significant influence on Dogecoin’s market dynamics. His recent announcement of Dogecoin being accepted for SpaceX merchandise and potentially for Tesla’s products has created a bullish sentiment, affecting DOGE predictions.
3. Increased Adoption in E-commerce: More online retailers and e-commerce platforms have started accepting Dogecoin as a payment method. This trend enhances Dogecoin’s utility and drives its adoption, positively impacting its future price of Dogecoin.
4. Technological Upgrades: Dogecoin’s development team has been working on technical upgrades to improve transaction speed and reduce fees. These enhancements aim to make Dogecoin more competitive with other cryptocurrencies, influencing its Dogecoin market analysis.

By understanding these market influences and the latest developments, investors can better anticipate Dogecoin’s price movements and make informed decisions based on comprehensive Dogecoin price prediction 2024, Dogecoin forecast 2025, and Dogecoin price outlook 2030 analyses.

Dogecoin vs. Shiba Inu: Analyzing the price action play

In this section, we’ll compare Dogecoin (DOGE) with Shiba Inu (SHIB) focusing on their price action changes and overall market performance. This analysis will help in understanding the competitive dynamics between these two major meme coins.

Dogecoin (DOGE) Price Action

Early Price Action (2013-2020):

• Launch and Initial Growth: Dogecoin was launched in December 2013 and initially traded for fractions of a cent. It gained early popularity due to its active community and charitable activities.
• Steady Growth: Over the years, DOGE maintained a low price but saw occasional spikes driven by social media campaigns and minor celebrity endorsements.

Major Price Surge (2021):

• Elon Musk’s Influence: In early 2021, Dogecoin’s price surged dramatically, reaching an all-time high of around $0.74 in May. This surge was largely fueled by tweets and public endorsements from Elon Musk.
• Volatility Post-Peak: After peaking, DOGE experienced significant volatility, with its price fluctuating widely but generally trending downward by the end of the year.

Recent Trends (2022-2024):

• Stabilization Efforts: From 2022 to 2024, Dogecoin’s price showed efforts to stabilize, often influenced by broader market trends and ongoing endorsements from prominent figures like Musk. As of May 2024, DOGE trades at around $0.18, reflecting a more mature but still volatile asset.

Shiba Inu (SHIB) Price Action

Initial Launch and Surge (2020-2021):

• Launch and Early Adoption: Shiba Inu was launched in August 2020 and quickly dubbed the “Dogecoin killer” due to its aggressive marketing and community-driven approach.
• Explosive Growth: SHIB saw explosive growth in 2021, particularly in October, when it reached an all-time high of $0.00008845. This surge was driven by hype, community support, and strategic listings on major exchanges.

Volatility and Corrections (2022-2024):

• Price Corrections: Following its peak, SHIB experienced significant price corrections, mirroring the pattern seen with many hype-driven assets. Its price dropped substantially but remained a favorite among speculative traders.
• Recent Performance: As of May 2024, Shiba Inu’s price has seen relative stabilization, trading at approximately $0.000025. The coin continues to be highly volatile, with price movements largely driven by market sentiment and community activities.

Inference

Comparative Price Dynamics:

• Volatility: Both Dogecoin and Shiba Inu exhibit high volatility, characteristic of meme coins. However, Shiba Inu’s price fluctuations tend to be more extreme due to its lower price point and higher susceptibility to speculative trading.
• Stabilization Efforts: Dogecoin has shown signs of more stable trading patterns in recent years compared to Shiba Inu, possibly due to its longer presence in the market and broader acceptance as a payment method.
• Community Influence: Both coins heavily rely on their communities for price support. Dogecoin benefits from high-profile endorsements, while Shiba Inu leverages aggressive marketing and a dedicated community.

Market Trends and Future Outlook:

• Dogecoin: The price reduction in Dogecoin tends to be more gradual, reflecting a slightly more mature market presence. It has established a niche with some real-world use cases, contributing to its relative stability.
• Shiba Inu: Shiba Inu’s price action is more aggressive, with sharp spikes and drops. Its reliance on hype makes it more susceptible to rapid changes in market sentiment.

Is this Dogecoin price prediction model accurate?

While the prices we have isolated may only be reached if the patterns we defined are true, we expect Dogecoin to remain relevant for many years. Also, this Dogecoin price prediction model considers fundamentals and conservative growth metrics. Therefore, we expect the most anticipated price points to hold in the near-to-long term.

Note that this article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

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