After all the red trading in the crypto space, the Dogecoin price made a refreshing surge and may more than double by the end of 2022, according to analysts’ long-term price forecasts.
Being the original and top meme token, Dogecoin is killing it in the crypto game. DOGE has made a slight gain of 0.5% as seen in the last 24 hours.
Today, DOGE can be sold for 6.2 US Dollars. Dogecoin is now the 10th in the worldTh largest crypto in terms of market cap. Its market capitalization is $8.3 billion which is down 2% from a high of $73.8 on May 8, 2021.
DOGE Seen To Wrap Up 2022 at $0.16
Forecasts by 15 FinTech analysts announced that the price of DOGE will grow twice and can end 2022 at $0.16, which is a jump of 158% compared to the current price of the meme coin. The highest value of DOGE shares in 2021 is 0.17 US Dollar.
Fred Schebesta, founder of Finder, maintains a bullish perspective for the price of DOGE. He estimates that the meme coin will end 2022 trading in the range of $0.25 to $0.30.
DOGE for Schebesta is undisputed and will never be underestimated as the original meme coin.
Recommended Reading | Cardano (ADA), After 35% Spike, Locks in Next Target: $0.55
According to Schebesta:
“This should not be underestimated in the world of cryptocurrency which has eliminated traditional methods of identifying value as a respected pastime. Investors may not realize that there are others, and others will come and go, Doge will be the original.
On the other hand, John Hawkins, Senior Lecturer of the University of Canberra, is bearish with DOGE’s forecast. He said Dogecoin will end the year trading at $0.05 or down 20%.
Hawkins believes that DOGE is the original meme coin, its value directly affected by Elon Musk’s controversial tweets. While it can hoist the coin further up, it’s influence on the price of DOGE seems to dissipate over time.
DOGE total market cap at $8.3 billion on the daily chart | Source: TradingView.com
DOGE Ended 2030 at $0.54
CoinMarketCap data reveals that DOGE is currently trading at $0.06104, which is 93.896% below the support line. Additionally, DOGE has also shaved around 5.91% today as well as down 9.80% over the past week.
Meme coin’s current market capitalization is very expensive compared to the all-time high of $85 billion seen on May 5, 2021.
At the beginning of the year, many analysts were very bullish and believed that the price of DOGE would rise to $0.92 or close to $1 by the end of 2030 but so far, the current prediction has moved to $0.54.
Recommended Reading | Solana (SOL) To Reach $166 By 2025, Despite Current Bearish Conditions
Featured image from Finance Magnates, chart from TradingView.com
