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Dogecoin price prediction; will it have a bullish trend, or will it fall?
Over the last month, DOGE has surged to more than $10 billion in total value.
The current market price of Dogecoin (DOGE) is $0.048, by a decrease of 2.24% in 24 hours. DOGE has a market capitalization of more than $6.2 billion with a 24 hours trading volume of $1.45 billion.
At the start of this year, the price of the DOGE was $0.01, and then it reached nearly $0.1 because many billionaires, including Elon Musk, pushed it. Notably, the Dogecoin price has now fallen by almost half of its price in February.
Recently Elon Musk tweeted with an image showing the Dogecoin to be protected from dropping its value. But, the price of DOGE failed to rise even after the latest tweet by Elon Musk. Before that, he tweeted the image depicting that the price of DOGE could reach the moon and failed to have that much impact on the price of Dogecoin. Although, previously, his one tweet was enough to make the DOGE price reach 75% higher.
The current popularity of DOGE reminds us that we cannot dismiss the enthusiasm of the passionate communities. This rise means that the Dogecoin is being taken more seriously by the entrepreneurs, and the project will further increase its popularity by creating a positive feedback loop.
No doubt that the year 2020 was quite good for all the cryptocurrencies. Most of the cryptocurrencies' prices were increasing in the previous year. The year 2021 also seems to be promising for all these cryptocurrencies. Talking about Dogecoin, it has experienced very high price volatility. In July 2020, it jumped from $0.00228 to $0.0045 within few days.
We cannot predict the price of Dogecoin with utmost accuracy. It ranks 10th currently across the globe. It can still be expected that the coin must continue its bull run till April. It is likely to reach $0.06 at the beginning of April, and then it might get to a maximum of $0.074. Its price is expected to arrive at a high price of $0.08 by October. For the year 2021, the trend of Dogecoin seems to be bullish.