Price Predictions

Dogecoin Price Prediction: Will DOGE Price Rally 2022 Mirror 2021?

Dogecoin

Key Takeaways:

  • The Dogecoin price closed the previous day’s trade at $0.1384 with a market capitalization of $18.43 billion and a circulating supply of 132.67B DOGE
  • DOGE price gets rejected from the crucial resistance levels and hence wrestling hard to prevent further plunge, yet appears a short-term plunge of nearly 8% is imminent.

Dogecoin Price Analysis: DOGE Price Table (Last 30 Days) 

Date All-Time High All-Time Low Market Capitalization
20 February 2022 $0.1413 $0.1351 $18.21B
19 February 2022 $0.1467 $0.1383 $18.80B
18 February 2022 $0.1425 $0.1358 $18.43B
17 February 2022 $0.1504 $0.1369 $18.80B
16 February 2022 $0.1520 $0.1461 $19.63B
15 February 2022 $0.1529 $0.1447 $19.83B
14 February 2022 $0.1506 $0.1427 $19.25B
13 February 2022 $0.1598 $0.1453 $20.13B
12 February 2022 $0.1486 $0.1425 $19.33B
11 February 2022 $0.1550 $0.1440 $19.78B
10 February 2022 $0.1612 $0.1504 $20.92B
09 February 2022 $0.1625 $0.1514 $21.13B
08 February 2022 $0.1698 $0.1540 $20.52B
07 February 2022 $0.1730 $0.1512 $21.83B
06 February 2022 $0.1560 $0.1448 $19.45B
05 February 2022 $0.1509 $0.1447 $19.55B
04 February 2022 $0.1481 $0.1369 $18.98B
03 February 2022 $0.1391 $0.1346 $18.12B
02 February 2022 $0.1465 $0.1363 $18.62B
01 February 2022 $0.1447 $0.1406 $18.93B
31 January 2022 $0.1429 $0.1362 $18.80B
30 January 2022 $0.1439 $0.1381 $18.71B
29 January 2022 $0.1443 $0.1406 $18.85B
28 January 2022 $0.1429 $0.1378 $18.61B
27 January 2022 $0.1455 $0.1361 $18.70B
26 January 2022 $0.1526 $0.1410 $19.79B
25 January 2022 $0.1504 $0.1326 $19.11B
24 January 2022 $0.1422 $0.1261 $17.66B
23 January 2022 $0.1445 $0.1320 $18.34B
22 January 2022 $0.1454 $0.1204 $16.92B
21 January 2022 $0.1574 $0.1304 $20.18B
20 January 2022 $0.1744 $0.1616 $21.65B

Additional Read: Shiba Inu vs Dogecoin 

Dogecoin Price Prediction: DOGE Price Trend Comparison with SHIB & FLOKI (Last 30 Days)

DOGE & SHIB are very known competitors from the beginning, while FLOKI has joined the race in recent times. All belong to the most popular dog-based crypto tokens based on Bitcoin & Ethereum blockchain. Dogecoin was the very first cryptocurrency in the market which incepted just after the 2018 boom, raised many eyebrows when the asset gained huge momentum since the beginning of 2021. On the other hand, SHIB & FLOKI entered the crypto space after getting inspired by Dogecoin and now thriving in the market.

Source: Tradingview

All the 3 crypto assets began the 2022 trade within almost the same levels. But within a couple of days. The FLOKI price lost its grip and plunged heavily. Interestingly, the volatility also remained off-shore for some time. However, maintaining the steep downtrend, the asset is currently very far from the average levels and its competitors, SHIB and DOGE. Both the assets are currently trending within the same levels. No doubt the SHIB price has plugged hard compared to that of DOGE, yet the asset is known for a quick rebound with huge intensity. 

Dogecoin is said to be the favorite crypto of Tesla CEO Elon Musk. Many of his mentions did uplift the price and at the same time, the asset also plunged hard because of him. Moreover, the birth of the other 2 assets, SHIB and FLOKI were due to one of his mentions. Currently, being the most primitive token among the three, DOGE price is less than 20% from the average levels, while SHIB & FLOKI are 27.4% and 65.2% resp. away. 

 Additional Read: Shiba INU Price Prediction

Correlation of DOGE/USDT and DOGE/BTC (Last 30 Days)

The DOGE paired with USD as seen in the above chart lags stability as huge price variations are witnessed, influenced by external factors. On the other hand, Bitcoin price since the mid of Q4 2021 has been pretty much uncertain and hence this may be a possible reason that the traders swapped BTC for other altcoins. Reports of huge whale acquisitions of altcoins were hovering around the space. And hence the possibilities of DOGE/BTC being traded cannot be nullified. 

The DOGE/BTC currently appears to be pretty much strong compared to the USD pair and is attempting hard to surge above the average levels. As BTC price is chopping around narrow ranges, it is a good time to swap it for altcoins. And therefore, DOGE/BTC may gain notable momentum and keep on showing strength compared to that of the USD pair.

Additional Read: Bitcoin vs Dogecoin

DOGECOIN Price Prediction 2022: Search Trends (Last 30 Days)

The Dogecoin searches since the beginning of the year 2022  appears to have decreased notably. Moreover, Shiba INU has outperformed Dogecoin in this regard. While the searches for DOGE are around 25 to 30, SHIB searches maintain an average value around 50. However, with the recent price surge, the search volume of SHIB had smashed 100 but DOGE still remained below 30. And hence one can say that the Dogecoin is losing its popularity to other assets which may not be good for the asset in the upcoming days. 

Note: Google Trends is a representation of users’ search behavior. It is a chart showing the user’s search volume which is capped to an upper limit of 100. The chat shared below is a comparison of the most searched keywords in a stipulated time frame.

Dogecoin Price Prediction

Dogecoin Price Prediction: Will DOGE Price Hit $1 in 2022?

Dogecoin gained huge user attention for the very first time when it surged more than 800% in a single day. Furthermore, with a monstrous rally of more than 1100%, the asset marked its highs amid the gigantic altcoin season of 2021. However, the next plunge was also extremely painful as the DOGE price became weak by more than 80% and ever since then attempted very hard to gain the lost momentum. 

Currently, the DOGE price is following a steep descending channel since the beginning of 2022, forming steep lower highs and lows. The volume has plunged drastically which has dragged the volatility to the lower levels. And hence in such cases, a drastic change maybe only when the market sentiments take a perfect ‘U-turn’. DOGE price may trade around $0.5 by the year-end with the current price fluctuations. If in case the bullish trend out spreads within the space, then the asset may attempt to form a new ATH but $1 remains pretty much out of reach. As many people may be stuck above $0.55 to $0.6 and may tend to extract their investment very quickly. On the contrary, if the bears again take back the control, the DOGE price may hover below $0.5 to end the yearly trade. 

Dogecoin Price Analysis: How High Will DOGE Price go in 2022?

The DOGE price at the press time is around $0.1393 with a significant drop of 0.34% compared to the previous close. Moreover, the market cap and the trading volume also remain plunged and hence pointing out towards a descending consolidation to prevail. After testing the lower support, the asset is hovering along with these levels without plunging or attempting for a recovery. And hence it appears that the price may maintain its descending consolidation. 

The market trends are expected to change in the second half of 2022 and until then the price may consolidate above $0.1. Later with a kick-start, the DOGE price may flip the descending trend and rise high to hit $0.3 soon. With another jump above $0.4, the DOGE price may attract the traders who may uplift the price above $0.5. Yet the ATH still appears pretty much distinct and $1 is out of the range. Therefore, the highest levels DOGE price may reach in 2022 maybe somewhere in between $0.55 to $.65.

Dogecoin Price Prediction 2022: Latest News on Dogecoin

Tesla to Accept Payments in DOGE at a SuperCharge Station

Tesla CEO Elon Musk is a huge Dogecoin proponent and has expressed his support for the asset multiple times. Just recently he had announced the acceptance of DOGE payments for some of Tesla’s merchandise. And now Mr Musk has announced the acceptance of the DOGE payment at a Supercharger station at Santa Monica very soon. 

Source: Twitter

Dogecoin Core Developer Distance Himself from the Project

Ross Nicoll, one of the key developers of Dogecoin has stepped away from the project citing the immense stress and conflict of interest. However, the developer in his blog post mentioned that he would remain as an adviser but handed overall to the Dogecoin Foundation.

Source: Ross Nicoll Blog Post

Where & How to Buy Dogecoin(DOGE) 

Investing in DOGE, SHIB or FLOKI or any of your desired crypto assets is pretty simple on CoinDCX. Being the most trusted cryptocurrency exchange in India, CoinDCX offers a wide range of cryptocurrencies at a very affordable rate with additional benefits. To start your journey with CoinDCX just follow the 3 simple steps, 

  • Download the CoinDCX App on your smartphone
  • Enter the required details
  • On verification, fund your wallet and simply start investing! 

Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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