Dogecoin is one of the most popular crypto coins currently. In terms of market cap, it is among the top 10 cryptocurrencies (over US$30 billion market cap). Now, the question comes should you invest in it? Is it a good investment? What will be its price by the end of 2021 or 5 years later (2026)? To answer all your queries, let me walk you through Dogecoin (DOGE), its fundamentals, and the DOGE price forecast.
This protocol was originally founded by two software engineers Billy Markus and Jackson Palmer as a joke coin on a dog theme. It was initially launched on December 6, 2013.
Members of the Dogecoin team created a not-for-profit foundation in 2014. However, it was soon dissolved. In 2021, the Dogecoin Foundation was relaunched with a “renewed focus on supporting the Dogecoin Ecosystem, community and promoting the future of the Dogecoin Blockchain.”
Since its relaunch, the price of the Dogecoin token, DOGE, has increased by over 4,000% till now (as of October 11, 2021). Dogecoin started its journey as a dog-themed meme coin. Within one month after the launch of DOGE in Dec 2013, the official site of Dogecoin was visited by more than 1 million visitors. Though it started the journey at a price of US$0.006 per DOGE token, currently its price is hovering around US$0.2348.
It is a very useful and user-friendly cryptocurrency project that uses its own blockchain and is compatible with a wide array of wallets as well as cryptocurrency exchanges.
Dogecoin protocol is mainly used to make payments. Recently, it is also being used as a tipping coin. You can use it to reward small tokens to people during interactions over social media. This user-friendly altcoin is now said to have a higher rate of inflation. This is the complete opposite of the deflationary nature of Bitcoin. While BTC has an upper cap on the number of total coins that could be thee in circulation, there is no such limit on DOGE. Experts believe that this inflationary nature of the Dogecoin token is advantageous.
To exchange or buy/sell DOGE coins, you have to find compatible pairs on reliable cryptocurrency exchanges. Some of the popular pairs available on the leading exchanges are:
The popular and reliable cryptocurrency exchanges where you can trade Dogecoin tokens are:
All these facts and figures will help you to make a decision on investing in Dogecoin by making DOGE price predictions:
DOGE price is hovering around US$0.2349 at press time and it has increased by more than 4,000% in the last ten and half months.
By the end of 2021, the price of each DOGE coin is expected to reach anywhere around US$0.974.
By the end of 2022, the price of each DOGE token is expected to reach anywhere from US$1.639 to US$2.382.
Dogecoin’s price is expected to hit an all-time high price at US$7.833. You may expect the average price to be around US$5.497 in the next 5 years.
Always remember that cryptocurrency investment advice always comes with the risk of loss. As prices of cryptocurrencies are highly volatile, you should be ready to consider the loss aspect too. If you can’t afford to lose money, crypto investment is not for you. Instead invest in fixed income assets. To be sure about your investment, always go through the fundamentals, technicals, and price history trends of the Litecoin market. Once you are absolutely sure about investing, go through the Litecoin network price prediction, and then invest.