TMCnet Feature
December 01, 2022

What to Expect From DOGE in 2030?

On the crypto market, there is a huge difference between well-established assets and ones that aren’t taken seriously. Compared to Bitcoin or Ethereum, Dogecoin is perceived as the underdog. But as it frequently happens, crypto price fluctuations may bring impressive returns to risky investors.

Let’s examine Dogecoin in great detail and find out if such an investment is any good. You’ll also learn the Dogecoin price prediction 2030, and review some calculations regarding the potential profitability of investing in it.

A Few Words About Dogecoin

Dogecoin (DOGE) is a so-called “meme” coin derived from the popular Internet meme — doge. It’s an open-source cryptocurrency forked from Litecoin in December 2013. The creators of Dogecoin are Billy Markus and Jackson Palmer.

Unlike other coins that position themselves as important, blockchain-based projects with a clear roadmap and a particular role in the crypto community, DOGE is light-hearted crypto that is perceived as a fun coin.

As of September 2022, dogecoin features the proof-of-work consensus protocol with the Scrypt technology integrated. The shift to proof-of-stake protocol hasn’t been announced yet but is anticipated by many. The total supply is uncapped, so there is no limit on the number of DOGE that can be mined.

Currently, DOGE is used to support the reward system on social media, including Reddit and Twitter (News - Alert). Members of the community are incentivized by small amounts of DOGE for creating and sharing the content.

DOGE Market Position

From the year 2014 until January 2021, the price of DOGE fluctuated between $0.0001 and $0.015. Despite being a joke cryptocurrency, DOGE gained some huge attention back in 2021, which resulted in a surge in the price and its market capitalization.

The current price of DOGE is about $0.06 per coin, with a market capitalization of about $8 billion. It scores the tenth position by market capitalization. However, it’s still quite a fall compared to the all-time high of about $0.74 in May 2021 and the highest recorded market capitalization of about $88.6 billion.

Since the year 2021, the price of DOGE has been on the decline. The same is true for the entire crypto market, which is explained by the geopolitical situation in the world and the associated economic events. However, the rule of investors is that assets are bought in the bear market. DOGE has a chance to multiply its price at any time.

What Will DOGE Be Worth in 2030?

Let’s quickly review what the statistical predictions for the future of DOGE are:

  • This source has a positive prediction for the DOGE. It expects the coin to reach as much as $1.86 in 2030.
  • The price forecast here is much more conservative. The source sticks to $0.91 per DOGE in 2030.
  • The third prediction sticks to about $1.80 per DOGE by the end of 2030.

Clearly, DOGE is expected to enter a bullish market soon. Over multiple financial cycles and a bit more than eight years, this asset may show a whopping 287% growth rate. It clearly represents DOGE as a worthy long-term investment.

Should You Invest in Dogecoin?

If you purchase $1,000 worth of DOGE today and keep them for 8 years, you’ll be able to multiply your investment by at least 1,500% and end up with about $15,150. This means over $14,000 in net profit by 2030. 

Investing in any asset, including cryptocurrencies, is always a risk. DOGE may be a fun coin, but it is not going anywhere soon. At the same time, it may stand a chance to get a raise in its price. Provided that you stick to the rule of finance management, diversify your portfolio, and keep abreast of the crypto market, DOGE may be a worthy investment option for you. Anyway, you should opt for this asset only if you are a long-term investor rather than a short-term trader.

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