Dogecoin is arguably among the most traded cryptocurrencies around. The mascot, Doge, is now a meme legend, fueling its popularity. But the main attraction is its continually increasing prices. It ensures traders have enough profit opportunities whenever they trade Dogecoins.
In the year 2021, dogecoin prediction are on the brighter side. This article explores what 2021 holds for this cryptocurrency.
Doge May Reach $1 Towards the End of 2021
Dogecoin is expected to stay strong and head towards its first $1 mark towards the end of 2021. This is thanks to its ever-growing community. The all-time high price for Dogecoin is $0.017491, which it reached in January of 2018. That’s an increase of nearly 1,442% since its beginning in 2013.
At the time of reviewing, the Doge price was trading at around $0.00194680. To reach the $1 mark, it needs an additional 513.66% increase.
Given its growing user base, popularity on the internet, and worldwide adoption, Dogecoin may breach the $1 target by the end of 2021. If that doesn’t happen, then it should do so by mid-2022. But, such predictions are only plausible in an ideal trading environment. With cryptocurrencies suffering from regulatory news all the time, you should expect impediments in the growth projection.
So if you’re investing in Dogecoin, you should be optimistic about its development in the coming months and years.
A large Number of Green Signals on a 4-hour Chart
If you go on a technical chart and analyze the price movement of Dogecoin, you’ll see a mix of stable and upward trends. Particularly on a 4-hour chart, the green candles outnumber the red candles. The bullish trend also means that sellers are far and few, and buyers are in total control.
There’s only a small squeeze near the $0.070 mark where sellers were in control for a brief period of time. On the 12th of February 2021, the Dogecoin chart formed a descending triangle. If it successfully breaks the resistance, then it could head towards a 30% upward movement.
The TD Sequential indicator also confirmed the buy signal, which makes the breakout even more probable.
The stable lower support trendline is at $0.062. In case it breaks, then the Dogecoin can slump to $0.043 before bouncing back strongly.
No Drop in Value till 2025
The prediction for Dogecoin till 2025 is intense and bullish. Due to its popularity among users, it is expected to stay afloat. There will be ups and downs, but it will eventually form an upward price trend. As per WalletInvestor’s info, it can rise to $0.0184 by 2025 with several cost leaps from its current position.
Similarly, another source predicts that Dogecoin investments made today will be profitable in five years as the price may go upwards of $0.0145 by 2025.
Celebs Love Affair with Dogecoin
Another reason why fundamental analysts are optimistic about Dogecoin’s long-term growth is its popularity among celebrities. Tesla CEO, Elon Musk, has been talking about Dogecoin since April of 2019. Later he satirically went on to announce himself as the unofficial CEO of Dogecoin. His tweets have significantly influenced Dogecoin’s price from time to time.
But Elon Musk is not alone in endorsing the use of Dogecoin. The coin has high-profile fans like American rapper Lil Yachty and guitarist Gene Simmons.
Lil Yachty reportedly said that he’d be investing a third of his wealth on Dogecoins. Similarly, Gene claimed that he’d be buying Dogecoins along with other cryptocurrencies in the future. Mia Khalifa raised a TikTok campaign to push the price of Dogecoin to upwards of $1, which subsequently failed.
So a bright future lies ahead for Dogecoin (and other cryptocurrencies). If you’re looking forward to investing in Dogecoin in 2021, stay updated with the Dogecoin predictions and the news.