Dogecoin (DOGE) Price Prediction 2024-2030: Will DOGE Price Hit $1 Soon?

• Bullish DOGE’s price prediction ranges from $0.56538 to $0.72634.
• Analysis suggests that the DOGE price might also reach $0.9 soon.
• DOGE’s bearish market price prediction for 2024 is $0.0523.

Dubbed the people’s cryptocurrency, DOGE describes itself as an open-source peer-to-peer digital currency. DOGE was based on the popular doge internet meme. By utilizing blockchain technology, it implements a decentralized system for storing information, making it act as a public ledger maintained with the support of nodes. Moreover, DOGE has grown over the years in profits as well as in its fan base. If you are interested in the future of Dogecoin (DOGE) and would like to know the price analysis and price prediction of DOGE for 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Dogecoin (DOGE) Real Time Market Status

What is Dogecoin (DOGE)?

Dogecoin is an “accidental crypto movement” and was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. One of the main features of DOGE is its endless supply. Despite being based on a meme coin, DOGE, over the years, has significantly grown. Reportedly, retailers have also started to accept DOGE as payment, allowing users to buy products and services with this memecoin.

Basically, DOGE, as described on its official website, is an open-source peer-to-peer cryptocurrency that utilizes blockchain technology, creating a highly secure decentralized system of storing information as a public ledger maintained by a network of computers called nodes. 

Furthermore, one more key feature is DOGE’s rising fan base, which is made up of a” vibrant community made up of friendly folks.” It is expected that the DOGE community focuses on supporting each other, being kind, teaching people about cryptocurrency, fundraising, having fun, making memes, and being absurd. The DOGE community also focuses on promoting Dogecoin “as a viable and legitimate alternative currency to traditional fiat money.”

Dogecoin (DOGE) Current Market Status

The maximum supply of Dogecoin (DOGE) is unknown, while its circulating supply is 143,244,486,384 DOGE, according to CoinMarketCap. At the time of writing, DOGE is trading at $0.1273, which represents a 24-hour increase of 33.21%. The trading volume of DOGE in the past 24 hours has been $5,053,002,019, which represents a 174.47% increase.

Some of the top cryptocurrencies for trading Dogecoin (DOGE) are Binance, Coinbase, Kucoin, Kraken, OKX, HTX, and others.

Now that you know what DOGE is and its current market status, we shall discuss the price analysis of Dogecoin (DOGE) for 2024.

Dogecoin (DOGE) Price Analysis 2024

Based on TradingView’s technical summary, DOGE’s market shows signs of a strong buy signal. This is also further confirmed by the moving average, which also shows a strong buy signal. It seems that DOGE’s recent uptrend was heavily influenced by trader’s buying activity.  

Currently, DOGE is ranked in the 9th position on CoinMarketCap. Additionally, DOGE is expected to rise with the developments and upgrades within the Dogecoin community, which will lead to a rise in the price of DOGE. Let us now look at DOGE’s price analysis for the year 2024.

Dogecoin (DOGE) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

By observing the Bollinger bands, we can see that the DOGE market was highly volatile due to the sudden movement of the candlesticks. However, looking at the chart, it seems that DOGE’s candlestick movement was somewhat stable between September and November. But, after a few days, the candlesticks recorded a surge, pushing DOGE to break beyond several psychological resistance levels. 

Another common reaction noticed in the market is that DOGE would face a correction after the candlestick broke above the upper band of the Bollinger band. Due to the high volatility, the downfall would be severe, causing the memecoin to drop back down to its support level.

Currently, DOGE has formed three long positive candlesticks, which push DOGE above Bollinger band’s surface area. This recent trading activity caused the bands to stretch out, making the market very volatile. Additionally, the BBWP is also valued near the 100% barrier, signaling that the bands have stretched significantly. Ideally, traders would be expecting the candlestick to have a massive downfall after experiencing a double-digit surge in a short period. 

Dogecoin (DOGE) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

Currently, the RSI is valued at 86.11 after making a bullish cross and breaking above the 70 barrier. This could be an indication that the buyers have entered the market, showing interest in DOGE. With the massive entry of the buyers, DOGE broke through several psychological resistance levels. 

As seen earlier, the RSI would drop after hitting the overbought region. Especially after the recent price action, there may be a high chance that sellers will take advantage of this situation, causing the value of DOGE to drop in the coming days. However, if the buyers overpower the seller, there may be a high chance that an uptrend may still exist in DOGE’s market.

Dogecoin (DOGE) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role, as it can confirm trends and identify potential reversals.

Looking at the MACD indicator, the growing green bars on the histogram signal that the current trend in the market is positive. Additionally, as the green bars continued to grow, the MACD line made a bullish cross and continued to move upwards while maintaining a distance from the signal line. This is another confirmation that DOGE is experiencing an uptrend in the short term. 

Moreover, during the massive surge, the candlesticks were able to stay above the 200 SMA, another signal of a bull run. However, in this scenario, the 200 SMA could be the potential support line that DOGE can hold during its correction procedure. 

Dogecoin (DOGE) Price Prediction 2024-2030

Dogecoin (DOGE) Price Prediction 2024

After analyzing the 1-day chart using several indicators, it clearly shows that DOGE is currently an uptrend affected by the accumulation trading activity of traders. Moreover, with the highly volatile market, DOGE’s price action continues to remain unstable. In 2023, DOGE would often experience a massive surge, causing the market to become volatile. At the same time, DOGE would face a huge fall due to the high volatility of the market. 

Currently, we can see that the recent uptrend enabled SHIB to break through several psychological resistance levels. In a matter of just a few days, the gigantic accumulation performed by the buyers caused the meme coin to surge from $0.0840 to $0.1283.  Although the DOGE’s buyers should be commended for their support, there may be sellers who would seek to exit the market in the hopes of gaining profits.  

By observing DOGE’s historical price action, traders may be expecting a correction. If the downfall does happen, DOGE could fall to $0.0734 support, which is the 0.786 Fib level. On the other hand, if DOGE fails to hold on to the expected support, the next critical point would be at $0.0606. Meanwhile, in anticipation of a bullish year, DOGE has the potential to break above the $0.56538.

Dogecoin (DOGE) Price Prediction 2024 – Resistance and Support Level 

Looking at the above, the candlestick has finally crossed the 0.236 Fib level, based on the long-term period. However, analysis points out that DOGE may fall and reach the critical zone. As traders and investors are expecting a bull run this year, DOGE has the potential to easily cross the $0.5 (1.618 Fib level). Before DOGE attempts to reach its final target level, it needs to show significant price action near the 0.5 Fib level. Ultimately, DOGE’s bull run can only be achieved if the community’s interest in this memecoin continues to remain strong. 

Dogecoin (DOGE) Price Prediction 2025

If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect DOGE to trade at a premium to its 2024 pricing. As a result, DOGE may be worth roughly $1.181 by the end of 2025.

Dogecoin (DOGE) Price Prediction 2026

As more and more institutional investors flock to the DOGE platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of DOGE may reach $1.460 by 2026, even though the memecoin has generally depreciated during the same period. 

Dogecoin (DOGE) Price Prediction 2027

It is expected that the halving of Bitcoin in the next year will likely trigger a bull market. In anticipation of this bull run, investors may feel optimistic about the altcoin market; hence, there may be a chance that the price of DOGE may continue to rise and even breach the previously established resistance level. Ultimately, Dogecoin (DOGE) may be worth $2.068 by the end of 2027.

Dogecoin (DOGE) Price Prediction 2028

Bitcoin will be halved in 2028 again, and a bullish run is anticipated this year as well. As a result, DOGE has the potential to reach new resistance levels and may be trading at a higher level than last year. Keeping in mind the BTC halving event that is happening this year, DOGE may be trading at $2.630 by the end of 2028.

Dogecoin (DOGE) Price Prediction 2029

By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of DOGE might reach $3.131 by 2029.

Dogecoin (DOGE) Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they would take advantage of future price gains. By the end of 2030, the price of Dogecoin (DOGE) could be around $3.642, despite the bearish market that followed a market boom in the early years.

Dogecoin (DOGE) Price Prediction 2040

According to our long-term Dogecoin price estimate, Dogecoin prices could reach an all-time high this year. If the current growth rate continues, we could anticipate an average price of $10.5 by 2040. If the market turns bullish, the price of Dogecoin could go up beyond what we predicted for 2040.

Dogecoin (DOGE) Price Prediction 2050

According to our Dogecoin forecast, the average price of Dogecoin in 2050 might be above $19.34. If more investors are drawn to Dogecoin between these years, the price of Dogecoin in 2050 could be far higher than our projection.

Conclusion

To summarize, DOGE might reach $0.7 in 2024 and $22.29 by 2050 if investors have decided that Dogecoin is a good investment. Moreover, the developments of DOGE will also play a great role in boosting the memecoin price, eventually grabbing the attention of several big market players.

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