Petko AleksandrovIn this lecture, we will try to make a future price prediction for Dogecoin for the period 2021-2025-2030.
It’s incredible that there is a cryptocurrency that is this popular and still there are debates on how the name should be pronounced. Should it be Dodge coin or Dodgy coin? I’d probably call it Dodge coin. But that’s not really important though.
What’s important is that it made many people rich. I will tell you what a realistic price prediction for this sweet coin is. And I forgot that it also made many people poor like me because I didn’t buy any ;(
Dogecoin price prediction
Today, I will share with you what my price prediction is for Dogecoin. I will go over the pros and cons we have with the coin and what you need to know before jumping into it. You will see the info that Dogecoin was created as a joke on most of the exchanges.
That’s what its creators Billy Marcus and Jackson Palmer said and I’m sure they never expected their fun token to reach above 40 billion market cap.
When was the Dogecoin created?
So the Dogecoin was initially created in 2013 and it was forked from Litecoin. It’s been used primarily as a tipping system on Reddit and Twitter to reward the creating or sharing of quality content. So you may be asking why I am creating this lecture now.
Well, because at the beginning of April, the Dogecoin price was at 5-6 cents and last week it reached 42 cents. Tell me you expected that and I might actually believe you, honestly.
Now, what are the pros and cons?
Pro #1, it’s much easier to move the price of a super cheap coin a few cents and at the same time, its market cap becomes a few billion dollars. Not like a coin that sits at 55k and its market cap is above $1 trillion. And it looks like the GameStop Revolution is live now in the crypto world as well.
Even the Robinhood website crashed a few weeks ago because of the huge interest in Dogecoin. Also, there are already groups of people that want to pump the price higher such as the Satoshi Street Bets and if a group of this size organizes the pumping of the price of a small coin, they can actually make it happen.
The big players can crash the prize
But you have to be extremely careful here because, by the time you join, it might already be too late or their target might be impossible and you might end up buying it when it reached its maximum and the big guys are selling it.
And here comes the first concern, the top 100 wallets control 68% of all Dogecoins.
And there is the mystery of one player who controls 28% of all coins.
That is one of the biggest problems with all small coins because if the huge guys decide to crash the prize, they can easily do it. And one day when everything looks wonderful, the birds are singing outside, you are already on a profit, Bitcoin is supporting all the crypto market with bullish movement, your coin will drop. You can’t understand how everything went wrong.
This is absolutely possible because the big wells of Dogecoin can decide to take their huge profits and all the small guys will carry the losses. This is why I personally prefer to invest in coins that are not dependent on a few people’s wallets.
If you want to know my current real investments and how I diversify my risk between Bitcoin, Ethereum, and all the rest, check out my crypto portfolio, and you will see that I am the one that holds 28% of all Dogecoins (I’m kidding of course 😀 ).
Popular influencers make Dogecoin popular and make price prediction harder
This is something else you need to keep in mind, we don’t know who is this 1 person owning 28% of the Dogecoin. It could be an exchange like Binance or Crypto.com. And in this case, it is not a concern because we would assume they bought it super cheap to supply to their clients at a later time.
On the other hand, it could be the one and only Dogecoin star on Twitter, Elon Musk himself. He has been supporting the coin for quite a long time, doubling and tripling its value with single tweets. This is the second pro.
Popular influencers like Elon Musk and Mark Cuban who said he had bought some Dogecoin for his son because it’s educational, just makes it popular.
Because when these wealthy guys tweet something, a mass of people reacts. And why not? There is currently no law or regulation that restricts Elon Musk from tweeting about Dogecoin. He even said that he’s going to move Dogecoin to the literal moon. Now, there were so many interpretations of what he actually wanted to say. But it pushed the price even higher which matters the most.
My Dogecoin price prediction
Going to concern #2 is that the supply of Dogecoin is infinite. The block reward is 10,000 and the block time is 1 minute. You can do the math for a day, a month, or a year. However, it turns out that even if the supply is infinite, the desire to own a Dogecoin is huge. And from my trading perspective, if the price is going up, then it’s going up. It simply means that the buyers are stronger than the sellers. If you took the chance and doubled your accounts a few times, then well done.
Pro #3, this could be just the beginning for Dogecoin. This is because it is not listed yet on some huge exchanges like Coinbase.
As we already know, when Coinbase lists a coin, it usually pumps the price extremely fast. This is because of the expectation of all clients of the exchange that are ready to buy as soon as it’s there.
It’s like they didn’t have the chance to buy it elsewhere until the moment. So what is my Dogecoin price prediction? Just this April, it increased from 5 cents to 42 cents, guys.
This is 600%, 700% in less than a month. Yes, it can absolutely increase by another 200% to 250% in the next months or years. So my first Dogecoin price prediction is the dollar and it’s super realistic in my opinion because of what we’ve seen so far.
Dogecoin price in the period 2025-2030
And once it’s above the dollar, more people will be buying it because they will realize that Dogecoin is stronger than the American dollar. Can you imagine that? When the round number is reached, the Doge buyers will definitely target the $10. Which I think is very achievable but not in the short-term. This is a more suitable prediction for the Dogecoin price in the period 2025-2030.
Having an infinite supply will make it hard for Dogecoin to reach $10. Unless Elon Musk really sends the Doge to the moon, literally.
So keep in mind the pros and the cons that I mentioned in the lecture. And be sure to share your realistic Dogecoin price prediction in the comments below.
Thank you guys for reading this price prediction. I will see you in the next lecture.
