Dogecoin (DOGE) Price Prediction and Analysis in January 2021
If you are looking for information on Dogecoin price prediction, you have come to the right place. In this article, we will discuss DOGE price prediction and analysis as well as gather opinions from other experts so that you can have a better idea of what to expect in January 2021.
Dogecoin (DOGE) Overview
Dogecoin is a fun coin that was inspired by the dog meme, which appears on the logo. The coin was forked from Litecoin by two developers, Billy Markus and Jackson Palmer. The cryptocurrency was created to infuse some fun into the highly technical space of cryptocurrency and make it lighter for non-tech participants.
Dogecoin has attracted a lot of attention from major figures like John McAfee, who once said that Dogecoin will go to the moon due to the adoption and usage. He is also named as the co-CEO of the coin alongside Elon Musk, who was referred to as the CEO for a few hours. According to McAfee, Dogecoin is one of the cryptocurrencies with the highest usage, which is a critical condition for price gains.
DOGE is now the 44 largest cryptocurrency, with a market cap of $562,779,142. There are 127,720,476,734 DOGE in circulation out of the total supply of 127,720,476,734 DOGE. $88,804,624 worth of cryptocurrency have been traded in the last 24 hours, and the current price is $0.004398.
Dogecoin (DOGE) Price Prediction: Analysis
DOGE price looks like it has been in accumulation for most of 2020. However, looking at the price chart on Coin Market Cap, there are a few price spikes that are notable. First is that of 9 February when the price reached $0.0033 for the first time in the year. It then dipped and was in consolidation till July, when it spiked to a new high of $0.00475.
After another slight dip and several weeks of consolidation and a dip to $0.0025, the price rose again to $0.00403 on 25 November. This coincides with the rally that was led by Bitcoin at the time. Although there has been another drop since then, DOGE price rose to its year high of $0.005 on 22 December, dropped to $0.0037 on 24, and has been in consolidation since the 25.
The daily chart of DOGE/USD suggests that the cryptocurrency is still in a bullish trend despite the seeming consolidation. Considering the Moving Averages, it is clear that the 20 MA is above the 50 MA, which is also above the 100 MA. This shows a positive short-term trend unless there is a change in the market that affects the setup. There is, however, no clear trend at the moment looking at the candles on the chart.
The following are key support and resistance levels for DOGE traders to use as a guide for setting up their trades as calculated by Walletinvestor:
- Resistance Level (R3): 0.00482;
- Resistance Level (R2): 0.00473;
- Resistance Level (R1): 0.00461;
- Pivot Point: 0.00452;
- Support Level (S1): 0.00440;
- Support Level (S2): 0.00431;
- Support Level (S3): 0.00419.
There are no recently reported happenings about Dogecoin at this time.
Dogecoin Price Prediction: Market Opinion for January 2021
A number of websites give reliable predictions on the future performances of cryptocurrency. We have selected a few of them and bring their Dogecoin price prediction for January 2021 to guide you in your investment decision.
Walletinvestor is moderately bullish on Dogecoin. For DOGE price prediction, the website puts the price at $0.00513 at the start of the month.
|Date||Price||Min Price||Max Price|
Dogecoin is predicted to start the month at $0.0057212, according to this website. It is expected to reach a maximum of $0.0071681, a minimum price of $0.0048743, and a monthly closing price of $0.0057345.
Digitalcoinprice puts the price of DOGE in January 2021 at $0.01007166. This is a very bullish prediction that expects the cryptocurrency to gain 124.83%.
The DOGE price prediction for this website is also moderately bullish. The cryptocurrency is expected to start January 2021 at $0.00435, reach a maximum of $0.00809715 and a minimum of $0.003196 before closing the month at $0.00358. Below is the full table of the price prediction for January:
|Calendar date||Regular||Least possible price||Best possible price|
|2021 January 01, Friday||0.00435||0.0036975||0.0050025|
|2021 January 02, Saturday||0.00457||0.0038845||0.0052555|
|2021 January 03, Sunday||0.00457||0.0038845||0.0052555|
|2021 January 04, Monday||0.00469||0.0039865||0.0053935|
|2021 January 05, Tuesday||0.005092||0.0043282||0.0058558|
|2021 January 06, Wednesday||0.00641||0.0054485||0.0073715|
|2021 January 07, Thursday||0.00694||0.005899||0.007981|
|2021 January 08, Friday||0.007041||0.00598485||0.00809715|
|2021 January 09, Saturday||0.00657||0.0055845||0.0075555|
|2021 January 10, Sunday||0.00576||0.004896||0.006624|
|2021 January 11, Monday||0.00558||0.004743||0.006417|
|2021 January 12, Tuesday||0.00564||0.004794||0.006486|
|2021 January 13, Wednesday||0.00592||0.005032||0.006808|
|2021 January 14, Thursday||0.00566||0.004811||0.006509|
|2021 January 15, Friday||0.00524||0.004454||0.006026|
|2021 January 16, Saturday||0.00428||0.003638||0.004922|
|2021 January 17, Sunday||0.00376||0.003196||0.004324|
|2021 January 18, Monday||0.00430||0.003655||0.004945|
|2021 January 19, Tuesday||0.00428||0.003638||0.004922|
|2021 January 20, Wednesday||0.00441||0.0037485||0.0050715|
|2021 January 21, Thursday||0.00412||0.003502||0.004738|
|2021 January 22, Friday||0.00387||0.0032895||0.0044505|
|2021 January 23, Saturday||0.00380||0.00323||0.00437|
|2021 January 24, Sunday||0.00382||0.003247||0.004393|
|2021 January 25, Monday||0.004043||0.00343655||0.00464945|
|2021 January 26, Tuesday||0.0040060||0.0034051||0.0046069|
|2021 January 27, Wednesday||0.004019||0.00341615||0.00462185|
|2021 January 28, Thursday||0.004046||0.0034391||0.0046529|
|2021 January 29, Friday||0.00391||0.0033235||0.0044965|
|2021 January 30, Saturday||0.00379||0.0032215||0.0043585|
|2021 January 31, Sunday||0.00358||0.003043||0.004117|
Dogecoin Price Prediction: Verdict
Dogecoin is not in its best shape at the moment, but some of the websites hope that the asset will do better in January 2021, even if not in a big way. However, this investment should be approached with caution as the market can be quite temperamental at times, and it could take a significant amount of time before the investment is recovered.
Featured image: medium.com