After everything was trading in the red in the crypto space, the price of Dogecoin made a refreshing spike and could even more than double by the end of 2022, according to analysts’ long-term price predictions.
As the original and superior meme token, Dogecoin kills it in the crypto game. DOGE saw a slight gain of 0.5% as seen over the past 24 hours.
At press time, DOGE is currently trading at $6.2. Dogecoin is currently the 10e the largest crypto by market capitalization. It has a market cap of $8.3 billion, which is down 2% from its all-time high of $73.8 on May 8, 2021.
DOGE seen to wrap up 2022 at $0.16
Predictions from 15 FinTech analysts have revealed that DOGE price is set to double and could end 2022 at $0.16, which is a 158% jump from the current value of the meme coin. In comparison, DOGE ended 2021 at $0.17.
Fred Schebesta, founder of Finder, maintains a bullish outlook for DOGE price. It predicts that the meme coin will end in 2022 in the range of $0.25 to $0.30.
DOGE for Schebesta is unassailable and should never be compromised as an original coin.
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According to Schebesta:
“This should not be underestimated in the world of cryptocurrency where breaking traditional methods of identifying value is a cherished pastime. Investors can probably rest easy knowing that even if there are will be more and others will come and go, Doge will forever be the original.
On the other hand, John Hawkins, a senior lecturer at the University of Canberra, is bearish with his DOGE forecast. He says Dogecoin is expected to end the year at $0.05 or down 20%.
Hawkins thinks that if DOGE is the original meme piece, its price is directly impacted by Elon Musk’s controversial tweets. Although it may lift the coin higher, its influence on the DOGE price seems to dissipate over time.
DOGE total market cap at $8.3 billion on the daily chart | Source: TradingView.com
DOGE will end 2030 at $0.54
Data from CoinMarketCap reveals that DOGE is currently trading at $0.06104, which is 93.896% below the support line. Additionally, DOGE also reduced around 5.91% today and fell 9.80% over the past week.
The current market capitalization of the meme coin is a miserable number compared to its all-time high of $85 billion reached on May 5, 2021.
At the start of the year, many analysts were extremely optimistic and believed that the price of DOGE would reach $0.92 or close to $1 by the end of 2030, but so far the forecast now stands at $0.54.
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Featured image from Finance Magnates, chart from TradingView.com