- Bullish DOGE price prediction for 2022 is $0.08765 to $0.57261.
- The DOGE price will also reach $1 soon.
- Bearish DOGE price prediction for 2022 is $0.04961.
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 $0.066472 with a 24-hour trading volume of $444,036,162 at the time of writing. However, DOGE has decreased to 3.3% 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 memecoin 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 blocktime for the Dogecoin network. Bitcoin takes up to 10 minutes to process a block whereas, in Dogecoin, the block time is 1 minute.
This memecoin is recognized as the favorite crypto of the Tesla CEO Elon Musk. Musk’s tweet on Dogecoin and his ceaseless support for it seems to accelerate significant price rallies for the memecoin.
Dogecoin (DOGE) Price Prediction 2022
Dogecoin (DOGE) holds the 10th position on CoinGecko right now. DOGE price prediction 2022 is explained below with a daily time frame.
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 $0.06. If the pattern continues, the price of DOGE might reach the resistance level of $0.15760, and $0.35079. If the trend reverses, then the price of DOGE may fall to $0.05032.
Dogecoin (DOGE) Support and Resistance Levels
The chart below shows the support and resistance levels of Dogecoin (DOGE).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Dogecoin (DOGE).
| Resistance Level 1 | $0.08765 |
| Resistance Level 2 | $0.17029 |
| Resistance Level 3 | $0.34334 |
| Resistance Level 4 | $0.57261 |
| Support Level | $0.04961 |
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 $0.04961, 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.
Moreover, the Moving Average (MA) of Dogecoin (DOGE) is shown in the above chart. Notably, the DOGE price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, DOGE is in a bearish 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 47.40. This means that DOGE is in an oversold 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.
The above chart represents the ADX of Dogecoin (DOGE). Currently, DOGE lies in the range of 25.11635, 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 47.40, 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).
From the above chart, we can interpret that Dogecoin’s (DOGE) price action has gained momentum over the trends of BTC and ETH. It is now moving in the opposite direction. That is, when the price of BTC and ETH increases, the price of DOGE decreases. When the price of BTC and ETH decreases, the price of DOGE increases.
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 $0.04961.
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
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.
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.
With the ongoing developments and upgrades within the Dogecoin platform, Dogecoin (DOGE) has a high possibility of reaching its ATH soon.
On May 08, 2021, Dogecoin (DOGE) reached its new all-time high (ATH) of $0.731578.
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.
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.
Dogecoin (DOGE) price is expected to reach $1.4 by 2023.
Dogecoin (DOGE) price is expected to reach $1.9 by 2024.
Dogecoin (DOGE) price is expected to reach $2.5 by 2025.
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.
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Source: https://thenewscrypto.com/dogecoin-doge-price-prediction/