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Dogecoin Price Forecast: Will Dogecoin ever reach $10?

The assumptions around DOGE appear to be wearing off as Elon’s tweets are barely mentioning cryptos anymore. Dogecoin is one of the most famous cryptocurrencies on the market. The meme coin began its journey in 2016 as a pure joke and has since proved itself among the top 15 most valuable cryptocurrencies for years. But Will Dogecoin ever reach $10? We discuss this in our Dogecoin price forecast.

What is Dogecoin (DOGE)?

Dogecoin was projected in 2016 and was just a straightforward parody of Bitcoin. But after a few months, Dogecoin became increasingly widespread with investors and witnessed strong price gains. This made Dogecoin the first so-called “meme coin”. These are coins that have no typical use or objective.

Dogecoin utilizes the efficient Proof-of-Stake consensus mechanism. This makes transactions with Dogecoin speedy and efficient. Dogecoin has frequently encountered extremely big price jumps in recent years. This hype derives primarily from the stretch of memes via social media.

Dogecoin Price Forecast: Is DOGE on the verge of an explosive breakout?

DOGE/USD Weekly chart – GoCharting

Dogecoin price has been creating lower highs over the last few months and has assembled a declining trend line that has maintained the weekly DOGE candlesticks from closing above it. This enormous sell-off could end soon, which could display a volatile breakout. 

Dogecoin’s present price is approximately $0.0594. It is outlying below the trend lines. Utilizing linear regression, we would hope the price of Doge to presently be nearly $0.0734. According to the development team behind Dogecoin, the ecosystem will bridge with the Ethereum blockchain in Q4 2022. This will permit users to transmit their DOGE tokens to the Ethereum mainnet, thus permitting DOGE to be utilized in smart contractsDeFi, and NFT marketplaces.

This is a giant step for Dogecoin, as it expands its use cases, thus raising the demand for DOGE, and in turn, improving its price. This essential news should be able to drive DOGE prices upwards upon successful fulfillment of the bridging project.

Dogecoin Price Forecast: What is Dogecoin worth in 2022?

DOGE/USD Monthly chart – GoCharting

In the last few months, the Dogecoin price has witnessed a more acute drop. With the beginning of the bear market at the end of 2021, cryptocurrency prices have dropped sharply in recent months. The Dogecoin price did not touch its all-time high at the end of 2021. The DOGE price in May 2021 was 0.74 US dollars.

In August and October 2021, Dogecoin also touched new heights. At the end of October, the price touched $0.30. In November, the Dogecoin price dropped more sharply. In mid-June 2022, the price dropped to $0.053. In the months that followed, Dogecoin stabilized, so the prediction for the end of 2022 improved. 

As a long-term investment, Dogecoin could display good performance. According to forecasts, the price of the Dogecoin token could increase to $0.91 by the end of 2022, and $1.27 in 2023, and touch a price of $2.23 by 2025.

Will Dogecoin ever reach $10?

Dogecoin’s price at $10 would be worth Bitcoin and Ethereum collective, which suggests that Dogecoin must supersede these major coins if the total market capitalization stays at present levels. At this point, this does not look convincing.

For the DOGE price to rise and touch $10, there has to be much more money pouring into DOGE than new cryptocurrencies being mined. Because DOGE has no supply limitation, and the block prize is so big (10,000 coins per block, analogized to 6.25 coins per block for BTC), it becomes more challenging for Dogecoin to touch the $10 mark soon.

The 2021 bull market in Dogecoin witnessed its price climb. The price gain in a matter of months was a notable event. While the identical circumstances that usher any market event can be difficult to pin down, there are occasional exceptional events that are connected at the same time, likely delivering DOGE massive growth. These were:

• It was during a Bitcoin bull market when BTC and other altcoins were also striking new all-time highs.

• People were searching for alternatives during the pandemic.

• Dogecoin witnessed several celebrity approvals in quick sequence with one another. The DOGE price grew every time such individuals like Elon Musk tweeted about it

Celebrity acceptance appeared to have had the most noticeable impact on the DOGE price. Some have blamed DOGE for working like a massive pump-and-dump project because of its rapid price advancement and decline. That said, DOGE can reach $10, at some point in the next 10 years. 

First, let’s look at the Dogecoin forecast for the end of 2022. It is necessary to look at the potential price movements in the general market. Because these should decide in which direction the Dogecoin price could move. In the current bear market, it is very dubious that the Dogecoin price will rise much in the next few months.

The Dogecoin price should thus barely encounter growth by the end of the year. Only a short-term gain in the overall market or a statement on Dogecoin by someone like Elon Musk in connection with future collaboration could drive the DOGE price to increase sharply again.

So, the 2022 Dogecoin price range could be between $0.050 – $0.10

The benefit of Dogecoin is that the meme coin has already established itself over several Bitcoin cycles. We can therefore consider that the DOGE price will rise again in the next bull market. The next Bitcoin Halving could be in 2024. After that, cryptocurrency prices should grow sharply in 2024 and particularly in 2025. Thus, the Dogecoin forecast for the end of 2025 is extremely positive.

These four cryptocurrencies could see a price spike before the end of September

The cryptocurrency has started another week with low volumes. Bitcoin is still stuck around the $19k, and most altcoins are yet to make any moves. The good news is that with such low volumes, a small spike in buying volumes could see most cryptos turn green in the short term.  With this in mind, it::Listen

The cryptocurrency has started another week with low volumes. Bitcoin is still stuck around the $19k, and most altcoins are yet to make any moves. The good news is that with such low volumes, a small spike in buying volumes could see most cryptos turn green in the short term. 

With this in mind, it makes sense to start scouting for altcoins with the potential for a price spike. Below are some of the cryptocurrencies that could do well before September ends. 

Cosmos (ATOM)

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Uphold

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Cosmos (ATOM) has been holding up for the better part of September, even as the rest of the market turned heavily bearish. If it keeps making gains while the rest of the market stagnates, investors could FOMO in and drive ATOM to new heights in the short term. 

Besides ATOM’s price action indicating a potential rally, there is much to look forward to for ATOM in the coming days. For instance, Cosmos is in the process of launching Interchain Security (ICS), and it’s a big deal. 

That’s because it allows Cosmos validators to secure and generate blocks for other chains. This will give even more value to the Cosmos token and further add to the intrinsic value of the Cosmos ecosystem. This factor could see ATOM easily emerge as top-performing crypto in the coming days and potentially make its debut in the top 10.

Polkadot (DOT)

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.


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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy DOT with Binance today

Polkadot (DOT) is one of the top cryptocurrencies with big news, and it’s responding pretty well. The big news around Polkadot is that Tether is launching on Polkadot. While the price is yet to make any significant moves, DOT seems to be forming a potential breakout pattern on the weekly charts. If the broader market gains upside momentum, especially with Bitcoin breaking through $20k, then Polkadot could easily start October 2022 in double or even triple-digit gains. 

Compound (COMP)

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eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.


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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


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Compound (COMP) has been gaining upside momentum for the past week. While there is no major news around Compound (COMP), the increasing price momentum will likely draw in speculators scrambling for any gains in a highly depressed market. 

Such FOMO buying could be reinforced by the fact that Compound is not just a random altcoin. It is one of the older and better-known DeFi cryptocurrencies in the market today. This makes it a pretty logical bet for anyone that believes the future of cryptocurrencies is in DeFi. Compound’s low supply further adds to its potential to rally, especially if it gets enough momentum from speculative investors. 

Terra Classic (LUNC)

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and ‘connect’ your wallet to it.

4. You can now swap your ETH for LUNC

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.

Terra Classic (LUNC) has recently dropped hard after Interpol raised a red alert on founder Do Kwon. However, Terra Classic seems to have overcome this shock and is up in double digits. If this reinspires momentum around Terra Classic, it could easily end the week among the best-performing cryptocurrencies and one with good prospects throughout October.

The post These four cryptocurrencies could see a price spike before the end of September appeared first on CoinJournal.

Dogecoin Price Forecast: Will Dogecoin ever reach $10?

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