Dogecoin Price Prediction – Will DOGE Price Hit $1 in 2021?

This Dogecoin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our DOGE price analysis and prediction.

Dogecoin is one of the cryptocurrencies in the crypto world that continues to make noise. As a result, investors around the world are now closely monitoring the progress of the controversial cryptocurrency. In terms of trading volume, DOGE trades an average of $5 billion per day.

Furthermore, the DOGE cryptocurrency is also famous in the Reddit community. For this reason, many participants of Reddit tend to join the Dogecoin craze lately. In addition, the massive participation of Reddit users has influenced the price of crypto lately.

Now that we are familiar with Dogecoin, do you think DOGE can continue its uptrend position this year? Are you already interested? Therefore, join me and let us head to the charts in this CoinQuora Dogecoin price analysis and price prediction 2021.

What is Dogecoin (DOGE)?

Dogecoin (DOGE) is related to the popular “Doge” Internet meme and features a Shiba Inu on its logo. Moreover, the open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia. However, it was forked from Litecoin (LTC) in December 2013.

Dogecoin’s creators envisaged it as a fun, light-hearted digital currency that will have greater appeal beyond the core Bitcoin audience, however, it is related to a dog meme. Even more, Tesla CEO Elon Musk posted many tweets on social media that Dogecoin is his favorite coin.

Now that we have an idea about DOGE, do you think DOGE will be profitable crypto in 2021? Join me and let us see the charts in this DOGE price analysis and DOGE price prediction.

Dogecoin (DOGE) Current Market Status

As of the time of writing this Dogecoin price analysis, DOGE trades at $0.24 with a 24-hour trading volume of $4,181,220,862. The price of DOGE has increased by 2.27% in the last 24 hours.

Furthermore, DOGE has a current circulating supply of 131.93 billion DOGE. Currently, the top cryptocurrency exchanges for DOGE are Binance, OKEx, CoinTiger, Upbit, and ZBG.

Now, let’s proceed to the next part of this DOGE technical analysis for 2021.

Dogecoin (DOGE) Price Analysis 2021

Currently, Dogecoin holds 8th place on CoinGecko. But will the latest upgrades, development, and changes in the DOGE blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this DOGE price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Triangle pattern. This is an important indicator since DOGE has been showing bearish over the past month. Consequently, the descending triangle pattern hints that DOGE will finally go bearish

In the foreseeable future, we can say that DOGE has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, DOGE turned from its bear to bull trend. This is the result of the high trade volume that occurred in that period.

The Relative Strength Index (RSI) is at 46, which means that DOGE is in a nearly overbought nor oversold state. Hence, this indicates that traders can trade safely without any fear.

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of DOGE.

Since the start of 2021, DOGE’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, DOGE has a competitive market this 2021.

Dogecoin (DOGE) Price Prediction 2021

The chart below shows that Dogecoin has performed great over the past few days. Moreover, the DOGE price is over 1.7% in the last 7 days. If this trend continues, DOGE might run along with the bulls, overtaking its $0.45 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone DOGE from its uptrend position. In simpler terms, the price of DOGE might plummet to almost $0.16, a bearish signal.

Meanwhile, our long-term DOGE price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.73 this year. However, that will only happen if it breaks many previous psychological resistances.

Dogecoin (DOGE) Price Prediction 2022

If this bullish trend continues, DOGE will reach $1.2 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1.25. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $1.2 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Dogecoin (DOGE) Price Prediction 2023

If DOGE holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $1.5, making it not plummet but play consistently.

Dogecoin (DOGE) Price Prediction 2024

As per the latest upgrades, developments, DOGE price prediction, and new project forecasts of the platform, DOGE investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of DOGE in the crypto market, and it will be the best investment as the price can spike and reach around $2.5.

Dogecoin (DOGE) Price Prediction 2025

In the next four years, DOGE prices could race up to $3.5. However, reaching this level could not be so difficult for DOGE as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that DOGE has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Dogecoin has a bright future ahead of it in 2021. With the ongoing developments happening within the DOGE ecosystem, as well as in the overall crypto market, we may see DOGE reach new heights.

Bullish DOGE price prediction 2021 is $0.45. As said above, it may even reach $1 if investors have decided that DOGE is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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