Dogecoin has been at the center of the crypto bull run. While it started just as a meme, or joke rather, DOGE has grown to become one of the top 10 cryptocurrencies. For instance, it has received massive support from Elon Musk through his series of tweets.
Like other cryptocurrencies, Dogecoin experienced a remarkable period in the last half of 2020. But it did not stop there. The meme token continued its massive increase throughput in 2021, rising from a mere less than a penny to $0.72 in five months. But the big question is will the cryptocurrency sustain its uptrend in the future?
If you plan to invest in Dogecoin, you will want to know whether the price will dip or proliferate. In this article, we take a look at Dogecoin in 2021 from leading prediction sites.
According to WalletInvestor, Dogecoin is an ‘outstanding’ long-term investment. The platform projects Dogecoin’s opening in June at an average price of $0.42. Additionally, the projections show that the price may average between $0.36 to $0.50 throughout June.
The cryptocurrency price is expected to rise in July to a maximum of $0.51 before reaching $0.52 in August. WalletInvestor expects the price of DOGE to go through a roller coaster of ups and downs while maintaining an uptrend through September and October.
In November, the opening price is expected to average $0.471 before reaching the highest price on the 27th to trade at $0.54. Similarly, the coin is expected to maintain an upward trajectory in December, ranging between $0.41 and $0.54. To be precise, the cryptocurrency is expected to close the year trading at an average price of $0.48.
According to Long Forecast predictions, DOGE is expected to range between a maximum of $0.32 and a minimum of $0.92 in 2021. The site predicts the cryptocurrency will average $0.50 in June before closing the month at $0.40.
In the following month of July, Long Forecast predictions estimate DOGE will open the month at $0.34, which will also mark the minimum price for the month. However, the price is expected to increase significantly to a maximum price of $0.42 before retracing to close the month at $0.39. In August and September, the forecast expects the cryptocurrency to average $0.42 and $0.48, respectively.
Long Forecast systems project Dogecoin to average between $.50 and $.62 in October and close the month at $0.58 per coin. The uptrend is expected to continue in November, where a DOGE coin is expected to hover between $0.72 and $0.58. The average price forecast for December is predicted to be $0.74 and close the year at $0.78.
CryptoPredictions base their predictions for DOGE on multiple sources, mostly on renowned investors and traders in the space. The website provides both technical and fundamental analysis with interesting facts, like rapper Snoop ‘Doge’ tweeting a picture of his newly released album cover with a picture of Doge replacing his image on the album.
When we take a look at their predictions, we can see that they are positive for Dogecoin. According to the site, the coin is predicted to continue a strong uptrend in Q4 and hit a new all time high of $1.20. They expect the price of DOGE to drop by the beginning of 2022 to $1.05. They expect that the biggest factor influencing the price of Dogecoin will be Elon Musk and his massive support of the coin.
TradingBeasts provides forecasts for over 2,500 coins, including DOGE. They combine polynomial and linear regression with historical data to provide up-to-date predictions. According to TradingBeasts’ projections, Dogecoin is expected to hit $0.57 by the end of this month.
The price is expected to rise in July, ranging between $0.49 to $0.72, and close the month at $0.05. The Dogecoin uptrend is expected to continue gradually in August and September and trade between $0.50 and $0.74 in October.
TradingBeasts’ projections forecast DOGE to reach an opening price of $0.59 at the beginning of November before rising to a maximum price of $0.74 and eventually closing the month at $0.59. As per the predictions, Dogecoin is expected to close the year in an uptrend, reaching a maximum price of $0.75. The predicted price range in December is between $0.51 and $0.75.
Digital Coin Price
DOGE ranks in the top 10 list of leading cryptocurrencies in terms of market capitalization. As a result, it has attracted the attention of investors. However, like Bitcoin, Dogecoin is experiencing a downtrend. This could be a small retracement before resuming the massive bullish run it has experienced beginning around the middle of last year. The big question iswhat will be the likely price of Dogecoin for the rest of 2021?
Well, according to Digital Coin Price predictions, DOGE is expected to increase in the future. According to their forecast, the current price of Dogecoin is likely to double in the next year to reach $0.72. Additionally, the site expects Dogecoin to reach an all-time high of $2.09 some time in the future.
Digital Coin Price predicts that Dogecoin will average $0.67 in June. The expected average price for Dogecoin in July is $0.61. The cryptocurrency is forecasted to trade at an average price of $0.60, $0.59 in August and September, respectively. In October, the average price of Dogecoin is expected to proliferate to $0.70 before falling to $0.56 in November. Dogecoin is expected to regain its upward trend in December and close the year at an average price of $0.67.
Cryptocurrency Price Prediction
Predictions from the above sites project a rising Dogecoin price in 2021. The Cryptocurrency Prediction Price platform has a similar forecast. However, Dogecoin is expected to trade over $1.00 as early as June. To be precise, the projected Dogecoin price in July is $1.69. The cryptocurrency is expected to trade at $1.86 and $1.97 in August and September, respectively. As per the forecast, Dogecoin is expected to cross the $2 mark in October and rise to $2.80 in November. The predictions show that Dogecoin will close the year trading at $2.99 in December.
Crypto investors have greatly benefited from the cryptocurrency bull run experienced during the better part of 2020 and the few months of 2021. However, most virtual currencies, including Dogecoin and Bitcoin, have experienced a significant dip in the past few days. It is not yet clear whether it is just a minor pullback or a major retracement. However, most prediction platforms hold that Dogecoin will regain its uptrend and experience a price increase for the rest of the year. While Dogecoin seems like a good short-term and long-term investment, it is imperative that you incorporate other analysis tools before arriving at your final investment decisions.
Michael Kuchar is a cryptocurrency trader and blockchain enthusiast. He is the creator of a popular educational trading-orientated blog called TradingBeasts, which primarily focuses on day trading CFDs on cryptocurrencies, forex, shares and other asset classes. Michael also stands behind one of the most popular cryptocurrency prediction systems out there, which has been featured on popular cryptocurrency blogs like Coinspeaker, Cointelegraph and NewsBTC. If Michael is not trading or blogging, he is most likely studying other new ways we can use blockchain technology and decentralized applications to our benefit.
Disclaimer: Opinions expressed at cryptotrade247.eu are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. cryptotrade247.eu does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is cryptotrade247.eu an investment advisor. Please note that cryptotrade247.eu participates in affiliate marketing.
Featured Image: Shutterstock/Roman3dArt