Price Prediction for Dogecoin – its native token DOGE is a distributed platform designed to ease the entry threshold for working with virtual currencies.
Even though Dogecoin has come a hard way from a questionable newcomer to a rather well-known online coin, serious investors still avoid it in 2020. They are confused by the meager Dogecoin value, the unrestrained emission of the DOGE currency, and, as a necessary consequence, that the founders originally introduced the “meme currency” as a joke. Nevertheless, there is a belief that Dogecoin is one of the few altcoins that have a real practical value. Despite the prevailing opinion that the value of a cryptocurrency is determined by its volatility, the ideological meaning lies in the possibilities of its application. Simply put, it is more important how many people use DOGE in everyday life.
Some experts suggest that the Doge has a real chance to grow in price to 8 cents in the near future. Dogecoin has also risen significantly in the market cap rankings, meaning that more money has been invested in it compared to other altcoins. if the altcoin can maintain its current pace, it has every chance of returning to its price high of $ 0.02 by the end of 2021. In the same vein, basically Dogecoin price prediction 2030 – about $ 10 per coin.
This online currency was worth $ 0.0003 in 2019, and by the end of this year it is worth $ 0.002. That is, investors who bought DOGE in 2019 received almost 600% of net profit today. Consequently, it is not worth excluding Dogecoin from the investors portfolio. Despite the general bearish trend and the low value of the coin, DOGE maintains its position and demonstrates great perspectives to earn profit.
Zakaria M, a well-known Steemit blogger and cryptocurrency trader, assumes that Dogecoin will be traded at $1 level in a few years from now. The coin has every chance of such success. Next year, DOGE could hang around the $0.03 level with the highest price reaching $ 0.0284 point and the low of $0.0214.
As reported by the CryptoGround, DOGE is expected to reach $0.0041 in December 2020, and in five years – $0.0129;
The Wallet Investor platform provides price analyses for almost every cryptocurrency in the market. This platform claims that the token will be traded at $ 0.00376 level in one year. The platform also states that it could rise to $ 0.00878 in three or four years from now. There is a possibility that DOGE will also partner with influential corporations, which can grow the coin’s value over time.
It is safe to say that Dogecoin is probably the most established altcoin on the market. All players recognize its great potential for growth and further development.
What is Dogecoin?
Dogecoin was originally launched in 2013 by the American investor Billу Markus and the Australian developer Jасkson Palmer as the hard fork of Litecoin. As a result, the “Doge image” became a distinctive characteristic of this digital coin, but also the reason to consider it a bit frivolous and childish. The founders wanted the DOGE coin to be an entertaining and fun altcoin that would have greater approval beyond the Bitcoin society.
DOGE was originally used on Twitter or Reddit to tip those people who distributed high-quality content. Over the time, Dogecoin has proven to be an anonymous, decentralised and secure payment solution for purchases, transfers and other financial operations. What is more, Dogecoin is probably the first altcoin introduced in the crypto market almost seven years ago. The developers wanted to create a currency which will become popular among ordinary users because of its affordability and transparency. Despite its close connection to LTC and Bitcoin, this altcoin has some important differences. For example, its average block generation time is 2.5 times faster than that of LTC. Thanks to this fact, transactions are confirmed more quickly – in just 6 minutes.
Dogecoin is the pioneer of the crypto sector. In recent years it was in decline because of the need for an effective mechanism that would connect the “meme coin” and Ethereum ecosystem, but the platform has a lot of prospects for growth. It strives to build a reliable platform for business payments and operations, which will ultimately result in more growth.
How is Dogecoin different from other cryptocurrencies?
After the successful Dogecoin creation 7 years ago and the unprecedented interest from traders and investors, its founders decided to prove that DOGE is way more than just a “joke token”. Particularly, the Dogecoin project aimed to develop a simple, affordable and practical virtual token. Dogecoin’s characteristics are consistent with this statement:
- DOGE is relatively cheap. Even a novice investor with limited capital can invest in DOGE.
- The initial DOGE emission was 100 000 000 tokens, but it was later decided to make the emission unlimited. Now the number of coins has already exceeded 120 billion.
- DOGE has practical applications. Some investors utilize tokens to make personal payments and pay for goods and services on the Internet.
Dogecoin price prediction 2021
How realistic is it that Dogecoin will reach the estimated $ 0.02 mark by the end of next year? If you follow the price chart of DOGE in detail for all the years of its existence, it becomes clear that it is a much more stable currency than people think about it. Dogecoin is quite capable of competing with other peer-to-peer cryptocurrencies in 2021.
The level of capitalization, popularity in social networks, the breadth of application. All of the above can ensure that the project rises up the rating ladder. Attracting large companies to cooperate and invest will open dogecoin. After all, now one of the reasons that hinder the development of dogecoin can be considered distrust of the “joke” currency. Working on this aspect will attract a huge number of new users to the project, which will strengthen the position of the coin. So we can say with a high degree of probability that the DOGE rate will grow in 2021.
How to obtain Dogecoin?
How to Mine Dogecoin
When it comes to cryptocurrency mining, it all starts with understanding the main technical characteristics of the coin:
- block generation time: around 1 minute;
- block reward: 10,000 DOGE;
- evaluation of mining complexity occurs once every 240 blocks (after about 4 hours).
Thanks to the aforementioned technical characteristics, the token is less exposed to hacking attacks and scammers. Dogecoin is based on the Scrypt algorithm, which allows miners to mine coins using special ASIC equipment. Due to the constant increase of the network complexity, it became unprofitable to mine the DOGE token with the CPU and GPU equipment. For the same reason, individual cryptocurrency mining also becomes unprofitable. Therefore, many miners decide to join mining pools, which are also backed by the Scrypt algorithm.
To start mining, you do not need to join a mining farm, buy the latest ASIC equipment or order expensive graphic cards. The complexity of DOGE mining is low, and the founders do not plan to increase it. Moreover, the moon Dogecoin founders have introduced a mechanism of artificial inflation, which is 5% of the annual emission. It means that every year, about five billion new coins available for mining appear in the system. Due to the low cost of the cryptocurrency, DOGE mining has never been popular among miners. Because of the unlimited mining and excessive emission, the price of the “meme coin” is growing very slowly.
Collect Dogecoin on different sites
In order to develop an open and easily accessible digital token, the developers decided to distribute them for free through different sites. However, the sites on which the distribution is performed are overflowed with ads. To get free DOGE coins, you need to find the site and earn coins by entering captchas, clicking on banners or performing other activities. As a rule, earned funds can be withdrawn once a week. The method is extremely simple, but it is not very profitable. On average, for an hour of continuous mouse clicking, it is possible to earn around 300 DOGE (60 cents at the current exchange rate).
Popular DOGE distribution sites: Moondoge, Freedog, Doge-moonfaucet, 777Doge, Dogefaucet, Doge-cryptority, and others.
Purchase Dogecoin on crypto platforms
You can always purchase DOGE tokens on crypto platforms and brokerage services. How to buy dogecoin? Dogecoin is presented on top exchanges (Bittrex, Poloniex, HitBTC, etc.), as well as decentralised non-KYC exchanges, such as Godex.io. Dogecoin can be stored in different cryptocurrency wallets, such as Exodus, Cryptonator, Holy Transaction, and many others. But it is much safer to keep Dogecoin in its official crypto wallet that can be found on Dogecoin website.
How much is Dogecoin worth?
2013 was the beginning of the road for DOGE. It appeared on the crypto market with a starting price of $ 0.0006. for a whole year, dogecoin was in an uptrend and soon multiplied its performance. 2014 is not a good year for dogecoin. Investors and ordinary users turned their heads towards new and more advanced altcoins. Consequently, its price dropped to $ 0.0002. A year later, Jаkson Pаlmer also decided to leave the company arguing that Dogecoin was probably moving towards turmoil and scam. Dogecoin creator Jackson Palmer has received quite a lot of unfriendly criticism on Twitter for his recent comments regarding the DOGE cryptocurrency. To counter this reaction, he has now created a script that blocks DOGE followers from commenting on him on Twitter. After his negative remarks about DOGE, he was attacked by a huge army of the coin followers, and so he decided to create a script called DOGE Gone. The extension was originally created to combat Ethereum bots after Elon Musk asked for a tool to counter the messages he received from ill-wishers.
The “meme” fans began rumoring аbout thе ultimate decline of the “funny currency”, but thіs wаsn’t the cаse. Many experts argue that the initial DOGE growth was associated with a steady upward trend in the beginning of 2013. Thus, there was a natural pullback, which grew into a bearish trend.
DOGE market cap is $240 million, which makes Dogecoin 40th in the CoinMarketCap site. By the way, in 2019 it was placed 30 lines lower, from which we can conclude the “unusual coin” is constantly progressing. But what will happen to Dоgecoin then?
Will Dogecoin ever reach $ 1?
The probability of reaching this mark in the next 1-2 years is low ,but still there. Leading analysts confidently predict the growth of the coin, but most likely we will see Dogecoin overcoming the $ 1 mark closer to 2023-2025. And Dogecoin price prediction 2030 usually shows us mark $ 10 per coin.
Is Dogecoin worth it in 2020?
We definitely say: “Yes!”. With a high probability, the growth of Dogecoin will follow the growth of Bitcoin. Therefore, if you buy a coin now, we believe that next year you will see a great increase in your capital.
How much will Dogecoin be worth in 10 years?
Bold, but quite realistic, given the speed of development of blockchain technologies, forecasts say that the mark of $ 10 will be reached. This means that the growth will be 3471%.
Will Dogecoin increase in value?
The chart of changes in the price of dogecoin for the entire time of its existence in comparison with the trends of leaders among cryptocurrencies gives reason to believe that the price increase for the coin is expected in the very near future. The introduction of dogecoin in various areas and projects, strengthening the position of cryptocurrencies in the world will inevitably have a positive impact on the significance of the coin. You can see vague Forecasts for the coming year, the Dogecoin price prediction 2030 is extremely positive due to the prospects for overall technology progress.
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