Don’t let the low price fool you: even though Dogecoin (DOGE) value may seem insignificant, several arrows are pointing in the right direction for the digital token to achieve a surge in the coming months and years.
Dogecoin is a cryptocurrency that falls in the peer to peer and decentralized categories. Holders can send money online in a very straightforward way, and because of that, it is quickly gaining steam and has built a sizable community.
- It has fast confirmation times.
- It has low transaction fees.
- Being a lower value digital token, it is an excellent way to tip and acts as a gaming currency.
- Elements such as the comic sans font, the dog logo, its low value, and its friendly, easy-going community make it a more approachable coin.
- It has a broad, devoted community.
- It is less stable than some of its competitors.
- It is also less mature.
- Although more sites and commerce establishments are beginning to take them as a payment method, the coin is not yet widely accepted.
- It is also not as secure as some of its top competitors.
DOGE price predictions
If you are wondering whether you should invest in Dogecoin or prioritize other cryptocurrencies, you should know that the medium and long-term forecast is very encouraging when it comes to price and valuation.
As a matter of fact, DOGE makes for an excellent long-term investment. The current price for each token is $0,004401, which makes it much easier to acquire lots of DOGE tokens at once. For example, if you were to acquire $100 worth of DOGE, you would buy something in the neighborhood of 22722 DOGE.
Experts and forecasting sites are predicting a price increase: for instance, the projected value of DOGE for October 20, 2023, is $0.0135 according to the site Wallet Investor, which would make for a profit of around 200% in five years. Your hypothetical $100 investment would be more than $300 in 2023.
If you don’t want to hold on to your assets for that long and are thinking a little sooner down the road, then DOGE can also be a good option for you. Dogecoin’s price promises to grow to 0.007093 USD in one year, representing a long-term earning potential of +61.58% in a year.
On the other hand, a Steemit blogger named Zakaria M is much more optimistic, saying that each Dogecoin would be worth $1 in five years from now. The writer also stated that even $10 in the same timeframe remains a possibility with all other fiat currencies moving in and out of DOGE.
Another positive review came out of Alisa Gus, who is the CEO of WishKnish. A panel of experts in blockchain and crypto, including her, predicted that Dogecoin would reach $0.010 as early as December 2018.