A cryptocurrency that started as a meme has now become one of the most commonly traded cryptocurrencies. Dogecoin has had its graph all green for the past couple of months. Moreover, Doge, the mascot, has become a meme legend, increasing the site’s popularity. The biggest appeal, however, is its ever-increasing costs. It ensures that traders have a sufficient number of profit opportunities when trading Dogecoins but they always wonder, will Dogecoin ever go up.
Dogecoin recently got support from powerful minds and eminent personalities like Elon Musk. He has often shown support for Dogecoin on Twitter. This along with various other reasons led to the recent price hikes of Dogecoin. And Elon Musk’s recent tweet has led to a spike in the price of cryptocurrency again after he replied to a user on the microblogging platform. Replying to a tweet that said: “This tweet is not about Bitcoin. Not everything is about Bitcoin. Or is it?” Musk said that sometimes, it is about Dogecoin. After the tweet at around 2:45 AM IST (GMT +5:30), the price of Dogecoin saw a steep increase in its value.
This tweet is not about Bitcoin.
Not everything is about Bitcoin.
Or is it?
— Lex Fridman (@lexfridman) March 18, 2021
But we further get into Dogecoin Price Prediction and what the chart analysts have to say about the token. Before that let’s first understand Dogecoin.
What Is Dogecoin?
Dogecoin initially came like a dog meme crypto, ever since it has risen to prominence in the cryptocurrency world. Dogecoin is a decentralized, peer-to-peer digital currency that makes it simple to send money online. Moreover, the DOGE cryptocurrency is even accepted by merchants as a form of payment. It has a dog as its logo, which is their amiable mascot launched in 2013.
Dogecoin’s primary use case is for making purchases, but it’s also been used as a tipping coin for rewarding people with small tokens during social media interactions lately.
Dogecoin Price Prediction
The price of Dogecoin stands at $0.05464 and has a market cap of $7,051,620,492 at the time of writing. The price of Dogecoin has been trading sideways for a while, but it’s prepared for a new leg up as it approaches weak resistance. On a 12-hour chart, the digital asset is striving for a breakout of a critical pattern.
The year 2020 has proven to be quite beneficial for the crypto. The price of Dogecoin reached a high of $0.082605 on February 8th, 2021. The market cap has risen to $10.7 billion as a result of the bullish trend. The trend has now reversed to what appears to be a slight retracement. However, the bullish trend is expected to bounce back soon.
The second quarter of 2021 for Dogecoin looks quite green. Dogecoin’s bullish trend will continue through April. Moreover, the meme cryptocurrency is expected to reach $0.0595023 in early April, according to Tradingbeasts’ Dogecoin Predictions. The minimum price is expected to be around $0.0509205, with the maximum likely to be around 0.0748831. The price is forecast to reach $0.0599065 by the end of the month.
The price is projected to reach $0.0754225 in June, with a low of $0.0512873. By the end of the month, the price is determined to be around $0.0608258. Dogecoin is expected to reach $0.0766733 in July, according to the site. The lowest price is expected to be $0.0521378. By the end of the month, Dogecoin will be worth $0.0613386. In fact, Dogecoin’s Price Prediction is positive in the eyes of most chart analysts. Even though the entire crypto market is going through a correction, chart analysts believe Dogecoin price prediction is indicating a bullish bounce. As a result, a 35% bounce to $0.066 would result in a higher rally.
The price of Dogecoin (DOGE) has a lot of potential. With its growing popularity, Dogecoin has a large presence in comparison to its rivals. Of course, one of the main reasons for this is the aforementioned significant benefits. Under expert guidance, using Dogecoin does not necessitate any special training. It is the most user-friendly and valuable crypto to its users. Moreover, it is now simple to obtain Dogecoin. As a result, using Dogecoin means putting authority in the hands of the user.