Dogecoin Price Prediction 2022: Market Analysis and Opinions
Although 2021 may have been the year Dogecoin went mainstream, an earlier Dogecoin price prediction has 2022 as an even more promising year for the coin. This meme coin skyrocketed in the ballpark of over 100% over the last 12 months, and that’s after a 50% pullback.
Dogecoin can be an intimidating investment, as it has seen explosive growth only to plummet essentially overnight. DOGE is a potential next breakout cryptocurrency, but it tends to be painfully slow at times. Is there good news? Yes, keep on reading this DOGE price prediction.
Dogecoin Price Prediction | Introduction
At the time of writing this Dogecoin price prediction 2022, DOGE was trading at $0.1529, according to CoinMarketCap. The market cap of the Dogecoin network at a price was over $20 billion, fully diluted to the same amount.
Dogecoin is easily the most popular, most-talked-about meme coin, and for a good reason. It is not every day you hear about the world’s richest man encouraging his followers to buy a cryptocurrency, yet Dogecoin enjoys the support of Tesla and SpaceX billionaire – Elon Musk.
From its early days in 2013, Dogecoin started as a joke on social media aimed at poking fun at the rate of cryptocurrencies popping up online. Somehow, DOGE attracted users and investors, picked up adoption, and led to a frenzy of bullish Dogecoin price prediction narratives.
Dogecoin Price Prediction: Technical Analysis
Since its launch, DOGE has climbed more than 15000% to date. Its market share has gone up and down with every bullish and bearish DOGE price prediction. To cap this Dogecoin price prediction, let’s consider its trading price history:
|Month||Open Price||Closing Price||Month High|
DOGE price is interesting as it is retracing toward a crucial support level after a recent failed attempt to change investor fortunes. A retest of this area will likely provide DOGE with the necessary bullish momentum to kick-start a rally that will extend beyond the recent swing high.
Dogecoin set up two swing highs and lows at $0.3409 to $0.3515 and $0.1347 to $0.1518, respectively, since August 2021. Interestingly, this setup has taken place inside daily demand zones, extending from $0.1518 to $0.2979.
While DOGE recovered above $0.1347, it needs to rally at least 19% before facing the trading range’s midpoint at $0.25. Clearing this barrier will lead the meme coin to challenge $0.2808 to $0.2979, which hots the buy stop liquidity hovering above it.
DOGE price has to clear $0.25 to reach the range high at $0.3515, completing a 29% ascent. To show the importance of the hurdle at $0.3515 for a bullish Dogecoin price prediction 2022, a look back of the seven-month price history shows traders that purchased DOGE at this price are underwater.
As such, DOGE needs to flip this barrier into support to reduce the profit-taking from weak holders trying to break even. Beyond this area, bullish DOGE price prediction hurdles thin out until $0.4881, supporting a bullish thesis.
Depicting the oversold nature of DOGE price is a negative Market Value to Realized Value (MVRV) metric that shows the average profit/loss of Dogecoin investors from the past months, which puts DOGE in an opportunity zone.
In other words, Dogecoin holders are currently at a loss and are less likely to sell their tokens at the current position. Besides, strong holders usually accumulate more coins in such an area, which could serve DOGE with a desperately-needed source of buying pressure to push for an uptrend.
Even though things are looking up for Dogecoin, a daily close below the daily demand zone’s lowest limit at $0.1347 would invalidate the bullish Dogecoin price prediction 2022 thesis. This development could trigger a crash, knocking DOGE to retest support at $0.10.
Dogecoin Price Prediction: Market Opinions
Coming from a fraction of a cent is too much higher values, DOGE’s price history reveals the market is confident in the future of the meme coin. Today, more than ever, such market sentiments are vital as DOGE lives daily in a make or breakpoint.
Considering the opinion of trading influencers and forecasting systems will help us arrive at the most likely Dogecoin price prediction. Can Dogecoin reach $1 in 2022? Let’s answer this question from the perspective of investors.
Dogecoin Price Forecast for January – February
TradingBeast indicates DOGE could match buying to selling pressure in early 2022 and identify key support levels with the consolidative range that could send DOGE to test $0.213. This Dogecoin price forecast for January – February suggests investors should watch how DOGE performs at $0.18.
Long Forecast Dogecoin price forecast for January – February has DOGE consolidating around the support zone of $0.17 to $0.14 as it searches for a catalyst to change investor fortunes in 2022. As a result, the Dogecoin price prediction is bearish in the short term, with low chances of a bullish breakout.
Dogecoin Price Forecast for the Rest of the Year
WalletInvestor suggests DOGE is in a perfect position to kick-start a massive uptrend, as it will collect the sell-stop liquidity at its current position for a rally to $0.378 with the year. Therefore, the Dogecoin price forecast for the rest of the year is bullish, characterized by quick price recovery.
DigitalCoin Dogecoin price prediction 2022 has DOGE contemplating a deep correction before bulls reappear to fill the fair value gap, extending the recovery to $0.22. This Dogecoin price forecast for the rest of the year predicts the altcoin could witness minor bumps but remain strong.
Dogecoin Price Forecast for the Next Year
PricePrediction Dogecoin price forecast for the next year hints at DOGE price doubling with a year, as DOGE finds support around $0.21 to $0.22. This Dogecoin price prediction suggests the altcoin is just undergoing a typical pullback, and the bulls are expected to trigger a leg-up to $0.25.
Gov.Capital DOGE price prediction expects tight consolidation around the support zone for roughly three months before DOGE can gather enough to breakout. According to the Dogecoin price forecast for the next year, this consolidation is the final stage before DOGE hits $0.263 within a year.
Cryptocurrency Experts and Influencers
SafemoonSurgeon proposes DOGE will remain in a lull state despite a remarkable recovery. The Dogecoin price prediction 2022 hints DOGE could push through and produce a higher high but get foiled, resulting in a retracement to immediate support at $0.27.
Xolane Ndhlovu is bullish in his DOGE price prediction. The forecast hints at a setup controlled by broader market forces to recover losses from the recent tumble and confirm the start of an uptrend. As the market begins to recover, DOGE may reveal an optimistic Dogecoin price prediction at $1.
Latest News and Happenings Concerning Dogecoin
Dogecoin continues to enjoy the support of Tesla and SpaceX CEO Elon Musk. According to Elon Musk, Dogecoin happens to be fundamentally more efficient and reasonable compared to Bitcoin and any other altcoin. This is also influencing the Bitcoin price prediction.
Elon is no stranger when it comes to Dogecoin, in particular, known to use the power of Twitter handle to send DOGE price trending and tumbling, breaking expert Dogecoin price prediction thesis. Recently, the SpaceX CEO hinted that Dogecoin, not Bitcoin, could be the currency on Mars.
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What Will Be the Price of Dogecoin in 2022?
The Dogecoin price prediction 2022 hints DOGE could set up a bullish turn around but fall short of a $1 prediction, especially following uncertain market conditions and investor fears.
What Will Be the Price of Dogecoin in 2025?
DOGE has surged more than 15000% in its eight-year history. The Dogecoin price prediction for 2025 is likely to reach $1 and grow its market value to more than $100 billion.
How High Can Dogecoin Go?
The forecasted year high for Dogecoin in 2022 is somewhere north of $0.35. On a larger time frame, the DOGE price prediction circles back to the original prediction of $1 by 2025.
Is Dogecoin a Good Investment?
Yes. At its highest, DOGE climbed more than 1000% within 12 months. That translated to major gains for investors who remained focused on the bigger picture rather than deciding on the booms and burst of DOGE.
Will Dogecoin Reach $100?
Yes. However, the Dogecoin price prediction for 2022 makes it unlikely to happen in 2022, but Dogecoin could reach $100, prompted by explosive gains on the crypto market.
Dogecoin Price Prediction: Verdict
The idea that Dogecoin could someday head to the moon is not outlandish according to this Dogecoin price prediction 2022. So even though Dogecoin is derided as a joke, investors have plenty of reasons to remain bullish on Dogecoin price prediction for 2022 and beyond.
Note: This post was originally published on 28 May 2021 and has been totally updated for the completeness and veracity of the content on 12 January 2022.