Currently, the price is hovering around the previous high of $ 0.051793 hit in January 2021. The price could retest that high, which would then become our support. While the price is currently in a downtrend, it is wise to wait and see how the price will behave around this point.
2021 price outlook
While we cannot predict the price of Dogecoin with the utmost certainty, this is the most likely direction. Apparently the coin sparked a joke, or rather to mock the proliferating dubious crypto coins. But its growth wasn’t a joke. It currently ranks 10th worldwide. The increase from $ 0.000232 in 2013 to the current price of $ 0.05 represents an increase of 21000%.
The recent support from high profile individuals has influenced the cryptocurrency “joke”. Elon Musk’s series of tweets is one of the biggest drivers behind the Dogecoin price hike. Gene Simmons recently announced that he owns DOGE, while snoop released an altered album, Snoop Doge. If the celebrities continue this infatuation with Dogecoin, the price will continue to rise.
Forecast for the 2nd quarter
The Dogecoin bullish move will continue through April. According to Dogecoin predictions from Trading Beasts, Dogecoin is expected to hit $ 0.0595023 in early April. The minimum price will be $ 0.0509205 while the maximum price is expected to be $ 0.0748831. At the end of the month, the price is expected to hit $ 0.0599065.
In June the price is expected to hit $ 0.0754225 and hit $ 0.0512873 on the lower side. The price is expected to hit $ 0.0608258 towards the end of the month. Similarly, the site expects Dogecoin to hit $ 0.0766733 in July. The minimum is forecast at $ 0.0521378. Dogecoin will hit $ 0.0613386 by the end of the month.
Q3 price forecast
Dogecoin’s bullish move is expected to continue into the third quarter of 2021. TradingBeasts further predicts that the cryptocurrency will start trading at $ 0.0613386 at the beginning of the month and close the month at $ 0.0619104. During the month, the price will hit a high of $ 0.0773880 and a low of $ 0.0526239. In September, Dogecoin price will soar to a high of $ 0.781554.
Q4 forecast
As in the rest of the years, the cops will continue to be in control from October through December. The price is expected to hit a high of $ 0.079470 in October and climb to $ 0.0798154 in November. More bulls are likely to join the train to add price and test the resistance zone in December. Dogecoin trades for at least $ 0.087006 towards the end of the year.
Dogecoin forecast 2022
TradingBeasts predicts that the price of Dogecoin will exceed $ 0.081 in January 2022. The upward movement is expected to continue throughout the year. The cryptocurrency is likely to hit a minimum price of $ 0.0640377 and $ 0.0941731 on the upside.
Price movement in 2023 and 2024
Fears of missing out and generally optimistic sentiment about cryptocurrencies will continue to drive prices higher. In other words, more investors are likely to keep buying Dogecoin, which will push prices even higher. According to the trading bull’s forecast, Dogecoin will open the year at a maximum price of $ 0.0954633 and trade at a minimum price of $ 0.0649150. The price will close at $ 0.1 in May 2023, a change of 55.75%. Dogecoin will hit $ 0.1096323 on the top side and $ 0.0745500 on the bottom side by the end of the year.
In 2024, Dogecoin will trade on the higher side above the $ 0.11 mark. If the price falls, it will find support at the $ 0.075 price level. Towards the end of the year the reserve price will rise to 0.846257. On the higher side, the cryptocurrency will top $ 0.12 in September and continue the upward move to end the year at a high of $ 0.12444.
Technical analysis
The Dogecoin price movement on the charts is a mix of bullish candles and a far-reaching market. Towards mid-February, the Dogecoin chart formed a descending triangle, followed by a stable trend. If price breaks resistance, we could see price move up. A break on the downside could fall to a zone of $ 0.045. This zone is supported by a previous price gap.
Basics
Dogecoin price is expected to be bullish through 2025. The charts will trend up to trade above the $ 0.12 mark, although the typical ups and downs will be there. One of the most promising aspects of fundamental analysis is its growing popularity with A-list celebrities.
For example, Elon Musk’s tweets have had a significant impact on the price of Dogecoin. In addition to his Dogecoin memes, he has announced himself as the unofficial CEO of Dogecoin. Likewise, Gene Simmons said he would buy the currency. But that’s not all. Rapper Lil Yachty has claimed he will be investing a significant portion of his fortune in Dogecoin.
Another fundamental aspect that affects Dogecoins is government regulation. For example, Nigeria, the second largest Bitcoin market in the world, has banned the use of cryptocurrencies. The Indian government is also considering banning cryptocurrencies.
On the plus side, financial giants like JPMorgan, Citi, and Sachs are considering establishing crypto custody. In addition, payment giant MasterCard will unveil a platform that allows merchants to receive cryptocurrency payments. Visa has published similar plans.
last words
Cryptocurrencies have seen seismic growth in the recent past. Dogecoin is one of the cryptocurrencies that has grown significantly. In fact, it hit an all-time high in the first two months of 2021. Massive support from Tesla’s Elon Musk and other celebrities could boost investor confidence. Ultimately, Dogecoin is expected to grow between 2021 and 2024.
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