Dogecoin (DOGE), which is among the most famous funny coins, revolutionised the crypto market. Within a week of delivering enormous investment returns in recent years, it eventually breaking out. It happened amid the 2021 cryptocurrency bull run after Elon Musk starred on SNL. According to keyword data, search terms for ‘Is Dogecoin Dead’ and ‘Should I Sell My Dogecoin’ are now prominent.
History of Dogecoin Prices
Billy Markus and Jackson Palmer, two software engineers who previously worked for IBM and Adobe, created Dogecoin (DOGE). Dogecoin began as a joke between the two founders, with the Shiba Inu dog serving as the coin’s logo. The logo is a parody of the popular Shiba Inu dog meme. It represents the first of several new doge-themed meme tokens.
Dogecoin was bought and sold sideways for nearly 7 years prior to becoming among the popular cryptocurrency assets to invest in. From 2013 to 2020, the token’s price increased by 736 percent, from 0.00055 dollars to $0.0046. Dogecoin was launched in December 2013. Now, it has grown to a market cap of 35.80 billion dollars, as per Yahoo Finance. However, after gaining global appeal, the status of the DOGE cryptocurrency value transformed in 2021.
Dogecoin gained popularity after Elon Musk, the CEO of Tesla, began tweeting in support of this investment option. Musk tweeted in April 2019, ‘Dogecoin might be my favorite cryptocurrency.’ It’s really cool. ‘ Meanwhile, as Musk’s tweets became more popular, the token’s value began to increase through most of 2021. From January 1st to May 8th, 2021, the Dogecoin price went up by 18,150 percent from 0.004 dollars to an all-time high (ATH) of 0.73 dollars.
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DOGE Price Prediction for 2024
Dogecoin’s price may rise in 2024 if the overall market performs better. But even so, meme coins can move in the reverse way of the market at points in time. Several of them will be bullish on the coin, while others are bearish. So, it will be tricky to determine which Dogecoin price prediction is correct. DOGE, on the other hand, is an inflationary asset, as opposed to Bitcoin. Because new DOGE can be produced and sold regularly, the token would have no maximum supply. According to DigitalCoinPrice, DOGE is predicted to reach the 0.21 dollars per coin target level by 2024.
Furthermore, the value of DOGE is predicted to hit a high of 0.14 dollars by the end of the year. As a result, this project predicts a minimum price of 0.08 dollars, which is bearish. However, few people are bullish on crypto assets right now due to rising inflation. Meme tokens have historically provided higher returns when crypto is bullish and purchasing increases. As a result, if the cryptocurrencies perform well in 2024, the price of Dogecoin may rise in the near future year.
How is #DOGE price predicted for 2024?
In 2024, Dogecoin may have better performance. According to expert price predictions, the average price of Dogecoin could be around $0.48 in 2024. Dogecoin could reach a peak price of $0.59 if the current growth momentum continues. As the… pic.twitter.com/KcBisoERTw— Crypto Underground (@CryptoUGx) December 7, 2023
Final Thoughts
Dogecoin price prediction has gone into great detail about the coin, emphasising its history and offering predictions for its future. As stated in Dogecoin price prediction, the future looks promising for this cryptocurrency. If the creators can continue to add productive use cases for Dogecoin and collaborate with large corporations, Dogecoin will gain the momentum it has to return to all-time highs – further beyond.
