Dogecoin (DOGE) Price Prediction 2022 – Will DOGE Hit $1 Soon?

Dogecoin (DOGE) Price Prediction 2022 - Will DOGE Hit $1 Soon?
  • Bullish DOGE price prediction for 2022 is $0.08868 to $0.57261.
  • The DOGE price will also reach $1 soon.
  • Bearish DOGE price prediction for 2022 is $0.04975.

In Dogecoin (DOGE) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about DOGE to analyze the future movement of the cryptocurrency. 

Dogecoin (DOGE) Current Market Status

According to CoinGecko, the price of Dogecoin (DOGE) is $0.070558 with a 24-hour trading volume of $681,334,359 at the time of writing. However, DOGE has increased to 1.3% in the last 24 hours. 

Moreover, Dogecoin (DOGE) has a circulating supply of 132,670,764,299  DOGE. Currently, DOGE trades in cryptocurrency exchanges such as Binance, Coinbase, Gate.io, OKX, FTX, ZB.Com, KuCoin, Bybit, Huobi Global, and MEXC.

What is Dogecoin (DOGE)?

Dogecoin (DOGE) is a popular meme coin that was forked from Litecoin in December 2013. The coin was created by Billy Markus and Jackson Palmer from a viral meme of the dog breed, Shiba Inu. DOGE continues to exist as a peer-to-peer and open-source cryptocurrency.

Unlike Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism that is based on the Scrypt algorithm. This confers less block time for the Dogecoin network. Bitcoin takes up to 10 minutes to process a block whereas, in Dogecoin, the block time is 1 minute.

This meme coin is recognized as the favorite crypto of Tesla CEO Elon Musk. Musk’s tweet on Dogecoin and his ceaseless support for it seems to accelerate significant price rallies for the meme coin.

Dogecoin (DOGE) Price Prediction 2022

Dogecoin (DOGE) holds the 11th position on CoinGecko right now. DOGE price prediction 2022 is explained below with a daily time frame.

DOGE/USDT Descending Channel Pattern (Source: Tradingview)

The above chart of Dogecoin (DOGE) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Dogecoin (DOGE) is at $0.07055. If the pattern continues, the price of DOGE might reach the resistance level of $0.07622, $0.10909, and $0.16709. If the trend reverses, then the price of DOGE may fall to $0.04741.

Dogecoin (DOGE) Support and Resistance Levels

The chart below shows Dogecoin’s support and resistance levels (DOGE).

DOGE/USDT Support and Resistance Level (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Dogecoin (DOGE).

Resistance Level 1$0.08868
Resistance Level 2$0.17228
Resistance Level 3$0.34584
Resistance Level 4$0.57261
Support Level$0.04975
DOGE Resistance & Support Level

The charts show that DOGE has performed a bullish trend over the past month. If this trend continues, DOGE might run along with the bulls overtaking its resistance level at $0.57261.

Accordingly, if the investors turn against the crypto, the price of the DOGE might plummet to almost $0.04975, a bearish signal.

Dogecoin (DOGE) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Dogecoin (DOGE) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of DOGE lies below the cutoff line, indicating weak participants in the current trend.

DOGE/USDT RVOL, MA, RSI (Source: Tradingview)

Moreover, the Moving Average (MA) of Dogecoin (DOGE) is shown in the above chart. Notably, the DOGE price slightly lies above 50 MA (short-term), so it is completely in an upward trend. Currently, DOGE is in a bullish state. There is a possibility of a reversal trend of DOGE at any time.

Meanwhile, the relative strength index (RSI) of the DOGE is at a level of 53.28. This means that DOGE is neither oversold nor an overbought state. However, this gives confidence to the traders to trade without any fear.

Dogecoin (DOGE) Price Prediction 2022 — ADX, RVI

Let us now look Average Directional Index (ADX) of Dogecoin (DOGE). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

DOGE/USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Dogecoin (DOGE). Currently, DOGE lies in the range of 17.69825, indicating a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of Dogecoin (DOGE). RVI measures the constant deviation of price changes over a period of time. The RVI of DOGE lies just above 50, indicating high volatility. In fact, DOGE’s RSI is at 53.28, thus confirming a potential buy signal.

Comparison of DOGE with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Dogecoin (DOGE).

BTC Vs ETH Vs DOGE Price Comparison (Source: Tradingview)

From the above chart, we can interpret ETH, BTC, and DOGE are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and DOGE also increase or decrease respectively.

Dogecoin (DOGE) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Dogecoin (DOGE) might probably attain $1.4 by 2023.

Dogecoin (DOGE) Price Prediction 2024

With several upgrades in the network, Dogecoin (DOGE) might enter a bullish trajectory. If the coin grabs the attention of major investors, DOGE might rally to hit $1.9 by 2024. 

Dogecoin (DOGE) Price Prediction 2025

If Dogecoin (DOGE) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, DOGE would rally to hit $2.5  

Dogecoin (DOGE) Price Prediction 2026

If Dogecoin (DOGE) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, DOGE would rally to hit $3. 

Dogecoin (DOGE) Price Prediction 2027

If Dogecoin (DOGE) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, DOGE would rally to hit $3.4. 

Dogecoin (DOGE) Price Prediction 2028

If Dogecoin (DOGE) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, DOGE would hit $4.

Dogecoin (DOGE) Price Prediction 2029

If investors flock in and continue to place their bets on Dogecoin (DOGE), it would witness major spikes. DOGE might hit $4.5 by 2029.

Dogecoin (DOGE) Price Prediction 2030

With greater advancements in the Dogecoin ecosystem, the crypto community might continue to invest in Dogecoin (DOGE) for the next 8 years and drive significant price rallies for the token. Hence, Dogecoin (DOGE) might hit $5 by 2030.

Conclusion

With continuous improvements in the Dogecoin network, we can say that 2022 is a good year for DOGE. For this reason, the bullish price prediction of Dogecoin (DOGE) in 2022 is $0.57261. On the other hand, the bearish price prediction of Dogecoin (DOGE) for 2022 is $0.04975.

Furthermore, with the advancements and upgrades in the Dogecoin ecosystem, the performance of Dogecoin (DOGE) might hit $1 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $0.731578 in the near future.

FAQ

1. What is Dogecoin (DOGE)?

Dogecoin (DOGE) is the pioneer memecoin that hit the markets in late 2013. It was born out of a viral dog meme. Dogecoin network was a fork of the Litecoin.

2. Where can you purchase Dogecoin (DOGE)?

Dogecoin (DOGE) has been listed on many crypto exchanges which include Binance, Coinbase, Gate.io, OKX, FTX, ZB.Com, KuCoin, Bybit, Huobi Global, and MEXC.

3. Will Dogecoin (DOGE) reach a new ATH soon?

With the ongoing developments and upgrades within the Dogecoin platform, Dogecoin (DOGE) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Dogecoin (DOGE)?

On May 08, 2021, Dogecoin (DOGE) reached its new all-time high (ATH) of $0.731578.

5. Is Dogecoin (DOGE) a good investment in 2022?

Dogecoin (DOGE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Dogecoin in the past few months, DOGE is considered a good investment in 2022.

6. Can Dogecoin (DOGE) reach $1?

Dogecoin (DOGE) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Dogecoin (DOGE) will hit $1 soon.

7. What will be Dogecoin (DOGE) price by 2023?

Dogecoin (DOGE) price is expected to reach $1.4 by 2023.

8. What will be Dogecoin (DOGE) price by 2024?

Dogecoin (DOGE) price is expected to reach $1.9 by 2024.

9. What will be Dogecoin (DOGE) price by 2025?

Dogecoin (DOGE) price is expected to reach $2.5 by 2025.

10. What will be Dogecoin (DOGE) price by 2026?

Dogecoin (DOGE) price is expected to reach $3 by 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended For You

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.