After everything is trading in red in the crypto space, Dogecoin price made a refreshing spike and may even more than double in price by the end of 2022, according to analysts’ long-term price forecast.
Dogecoin has been the best-known and most trusted crypto token. DOGE saw a 0.5% gain in 24 hours.
DOGE currently trades at $6.2, as of press time. Dogecoin is currently The world’s 10thLargest crypto by market capitalization. The market capitalization is $8.3 Billion, which represents a 2% decline from the $73.8 high on May 8, 2021.
DOGE To Wrap Up 2022 @ $0.16
Forecast by 15 FinTech analysts revealed that DOGE price is said to grow twofold and could end 2022 at $0.16 which is a 158% jump compared to the meme coin’s current value. Comparatively, DOGE closed 2021 at $0.17.
Fred Schebesta (founder of Finder) maintains a bullish view for the DOGE price. According to Schebesta, the range for meme coins will be $0.25 to $0.30 at 2022’s end.
Schebesta DOGE, the original meme coin, is irresistible.
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According to Schebesta:
“This shouldn’t be underestimated in the world of cryptocurrency where breaking traditional methods for identifying value is a cherished pastime. Investors can likely sit tight knowing that while there will be more, and others will come and go, Doge will forever be the original.”
John Hawkins (University of Canberra Senior Lecturer) is on the contrary bearish about its DOGE forecast. Dogecoin’s end-of-year trading will be at $0.05, or lower by 20% according to him.
Hawkins believes DOGE is the first meme coin. However, it’s price is affected directly by Elon Musk’s tweets. While it can hoist the coin further up, it’s influence of DOGE price seem to dissipate over time.
DOGE market capital at $8.3 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com
Doge To Close 2030 at $0.54
CoinMarketCap data shows that DOGE trades at $0.06104 right now, which is just 93.896% lower than the support level. DOGE also saw a drop of 9.80% in the last week, as well as a decrease of 5.91%.
The meme coin’s current market cap is a miserable number compared to its all-time high of $85 billion seen on May 5, 2021.
Many analysts believed that DOGE would reach $0.92 by 2030, or even close to $1, at the start of this year. However, these predictions are now $0.54.
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Featured image taken from Finance Magnates. Chart from TradingView.com