Dogecoin is an open-source, peer-to-peer cryptocurrency that Billy Markus launched in 2013. It's modeled after the Doge meme of a Shiba Inu dog, which is also the logo of this altcoin. It seems to many that Dogecoin was created as a joke, but it became one of the most popular cryptocurrencies in the world.

Its underlying technology derives from Litecoin. Dogecoin's blockchain has significant merit. Dogecoin is mainly popular due to its unlimited supply and low price, but it has many other features to benefit its owners.

Dogecoin experienced a bubble burst in 2018, after which it lost most of its value. However, it still has many loyal supporters on social media that continue to invest in their favorite coin. Dogecoin is available on most cryptocurrency exchanges, and you can store them on the Dogecoin wallet.

Currently, Dogecoin has a market capitalization of $18 million with a per token price of $0.1. In addition, its 24h trading volume stands at $1.3 billion, while there is a 132.6 B DOGE circulating supply.

How Much Dogecoin (DOGE) Will Be Worth in 10 Years

Traders Union has developed a unique model for predicting cryptocurrency prices. They have recently released their predictions for the value of Dogecoin up to the year 2033. These predictions are based on their proprietary model and provide insight for investors interested in the cryptocurrency market.

Dogecoin Price Prediction 2023

Cryptocurrency prices are subject to numerous factors, including supply and demand, market sentiment, and global economic and political events. As a result, it is difficult to predict future price points accurately.

However, according to Traders Union, the price of Dogecoin at the end of the year will be approximately $0.08215

Dogecoin Price Prediction 2023-2033

If more companies start accepting Dogecoin as a payment method, it could increase the demand for the cryptocurrency, leading to a surge in price. So, will Dogecoin reach $1 or even $10? Traders Union predicts that in the next decade, the coin could be worth $1.26275

Can Dogecoin Reach $100?

With Dogecoin's current growth rate, it will be nearly impossible for the coin's value to reach $100. That's because there isn't nearly enough money in the world. Each time Dogecoin increases by $1, it would require $180 billion worth of investment.

So, for Dogecoin to reach $100 by 2030, it would require $18 trillion worth of investment. Meanwhile, the global GDP is $87 trillion. Well, it doesn't take a market genius to know that Dogecoin won't accumulate 20% of the global GDP in the next ten years.

Plus, crypto exchanges might not be able to handle that kind of volume since they are regulated yet. So, there's no doubt that Dogecoin can increase in price, but not as high as $100.

So, answering "Will Dogecoin reach $100?" is simply not possible.

Should I Invest in Dogecoin Right Now?

The choice to invest in Dogecoin is ultimately personal.

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$DOGE

Lookonchain (@lookonchain) tweeted this morning that a new Dogecoin (DOGE) wallet received 172.2 million DOGE from Binance earlier this morning. According to the tweet, the value of the DOGE amount was $14.33 million at the time the transfer was performed.

The post went on to add that a whale had bought DOGE under the influence of Elon Musk changing the Twitter logo.

At press time, the price of the meme coin is down 1.97% over the last 24 hours according to CoinMarketCap. This has added to DOGE’s negative weekly price performance – taking the total weekly loss down to 2.95%. As a result, DOGE is currently changing hands at $0.08215.

Not only did DOGE weaken against the U.S. Dollar, but also weakened against the two crypto leaders, Bitcoin (BTC) and Ethereum (ETH), by 1.58% and 0.60% respectively.

4-hour chart for DOGE/USDT (Source: TradingView)

DOGE’s price has been in a sharp decline over the last 48 hours and dropped below the 9 EMA line on the 4-hour chart on Wednesday evening. Shortly thereafter the altcoin’s price dropped below the support level at $0.09310 as well as the 20 EMA line on the 4-hour chart.

DOGE’s price did try to recover back above the 9 and 20 EMA lines on its 4-hour chart on Thursday evening but was unable to do so – resulting in a continued drop in the altcoin’s price in the days that followed. This continued downfall with DOGE’s price then forced the meme coin’s price below the next key support level at $0.08526.

At press time, DOGE’s price is still trading below the 9 and 20 EMA lines on the 4-hour chart, and is resting on the critical support level at around $0.08031.

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Dogecoin (DOGE) is the best performing top 20 digital asset right now. The original meme coin is right now trading for $0.088, according to CoinGecko, up over 6% in 24 hours.

Its current gains come when the rest of the market is in the green today: Bitcoin is up 1.3% in 24 hours, trading for $30,432.

And Ethereum, which just successfully completed a long-awaited upgrade, is up 5%, comfortably sitting above $2,000—a level it last touched in May.

Dogecoin is leading the charge, though. The eighth largest cryptocurrency by market cap has swung up and down the past week—mostly thanks to the whims of Elon Musk.

The Twitter owner and Tesla boss has long loved DOGE (or at least claimed he does.) Last week, DOGE’S Shiba Inu dog meme logo replaced the blue bird logo on the Twitter website, without explanation, and the asset briefly boomed.

It then disappeared and the coin dipped in value again. It isn’t clear why DOGE is doing so well right now but earlier today news dropped that Twitter had partnered with trading app eToro to allow crypto and stock trading.

Musk has previously said that he wanted to integrate crypto payments into the website—and even hinted that DOGE would be Twitter’s currency.

Exclusive: Dogecoin Developers Say They've Been Working with Elon Musk Since 2019

The world’s second-richest man now has plans for the microblogging platform to become an “everything app.”

DOGE was invented in 2013 by a group of engineers as a joke to poke fun at Bitcoin but it gained a cult following when Elon Musk started pumping it on Twitter. At one point it had a market cap larger than many companies on the S&P 500.

#DOGE #crypto2023 #DOGECOIN #Binance #crypto

The Dogecoin (DOGE) price could be in the first portion of a larger increase that will take the DOGE price to a new yearly high.

The DOGE price had fallen under a descending resistance line since November 2022. The line caused numerous rejections, the most recent on April 2.

However, the price broke out the next day and reached the highest price of the year at $0.105 (red icon). It has decreased since.

DOGE Price Could Break Through Resistance

The rejection validated the $0.100 resistance, which is the 0.382 Fib and a horizontal resistance area. Fibonacci retracement levels operate as a set of horizontal lines derived from the Fibonacci sequence, which indicate areas where support and resistance may be encountered.

If the DOGE price breaks out, the next resistance would be at $0.122, which is the 0.618 Fib retracement resistance level. However, if another rejection from the $0.100 area occurs, the DOGE price can fall to the descending resistance line at $0.080 again.

The daily Relative Strength Index (RSI) is above 50 and increasing. As a result, a breakout is more likely to occur. The (RSI) is a tool that helps traders understand if a crypto is overvalued or undervalued by measuring how quickly its price is changing. It looks at how fast and how big the price has moved recently to figure out if it might be time to buy or sell the crypto

DOGE/USDT Daily Chart. Source: TradingView

The technical analysis from the short-term two-hour chart supports the continuation of the increase. There are three main reasons for this.

Firstly, the price broke out from a descending resistance line. This supports the breakout from the daily time frame. Next, the DOGE price moved above the minor $0.090 resistance area. The area is now expected to provide support.

Finally, the movement since April 8 looks like a completed five-wave upward movement (black). Therefore, all these signs support the continuation of the increase.

The only bearish development is that the two-hour RSI has confirmed a bearish divergence (green line) during the past 24 hours. This could lead to a short-term correction before the continuation of the increase.

A close below $0.090 would invalidate this bullish forecast. In that case, the internet meme coin could fall to $0.080.

DOGE/USDT Two-Hour Chart. Source: TradingView

To conclude, the most likely DOGE price forecast is the continuation of the increase toward the $0.010 resistance area and eventual breakout. If that occurs, the Dogecoin price could increase to $0.122. However, if the area causes another rejection, a decrease toward $0.080 could follow.

#DOGE #DOGECOIN #crypto2023 #Meme #Binance

The Dogecoin (DOGE) price trades inside a short-term neutral pattern but shows long-term bullish signs.

The DOGE price has increased alongside an ascending support line since June 2022. Since November of the same year, the price created a descending resistance line. Combined, these lines create a symmetrical triangle, which is considered a neutral pattern.

On April 3, the price broke out from the triangle and reached a high of $0.105. However, it was rejected by the 0.382 Fib retracement resistance level (white) and fell sharply over the next 24 hours. On April 7, the Dogecoin price fell back inside the confines of the triangle, suggesting that the previous breakout was illegitimate. However, the daily RSI is still above 50, a sign of a bullish trend.

As a result, it is possible that another breakout may eventually ensue.

DOGE/USDT Daily Chart. Source: TradingView

A potential reason for the rejection was the fact that Tesla CEO Elon Musk reverted the Twitter logo back to its previous bluebird after its previous substitution to the internet meme coin.

Long-Term Outlook Supports Dogecoin (DOGE) Price Increase

While the technical analysis from the daily time frame does not provide a clear direction for the trend, the weekly one is bullish.

The main reason for this is the breakout from a 539-day descending resistance line. Breakouts from such long-term structures usually lead to significant increases.

Even though DOGE created a long upper wick last week (red icon), the weekly RSI is still above 50. Therefore, another attempt at reaching the $0.128 resistance area is expected.

If a breakout from it occurs, the DOGE price can increase to $0.275. However, if the decrease continues, DOGE could drop to the $0.055 horizontal support area.

DOGE/USDT Weekly Chart. Source: TradingView

To conclude, the most likely DOGE price forecast is an eventual breakout from the short-term pattern and an increase toward the long-term $0.128.

#DOGE #DOGECOIN #crypto2023 #crypto #Binance