Dogecoin started in 2013 as a joke. This meme coin eventually reached an all-time high of $0.7376 and a total valuation of more than $80 million. Since then, the meme coin has been down 91%. Let’s discover more about Dogecoin price history, analysis, and whether it can regain its all-time high and potentially reach $0.999.
This article looks at Dogecoin’s price history, prediction, and potential in the next three to five years, taking into account technical analysis, price drivers, use cases, tokenomics, and more.
DOGE Price Prediction Summary
From its launch in 2013, Dogecoin is up 11031.90% and priced at $0.0622. After reaching its all-time high in mid-2021, the meme coin has been down 91%. Currently, Dogecoin’s market cap is $9 billion. It’s predicted that the price will reach $0.0710 at the end of 2023 and $0.3 in 2025.
Dogecoin Price History
Jackson Palmer and Billy Markus created this project and launched it in 2013. Based on the “Goge” meme, the project became popular a few months after being launched and featured the symbol of the Shiba Inu dog.
The initial price of Dogecoin was $0.0002990, and the meme coin reached its all-time high of $0.001 in May 2017. In January 2018, the price of DOGE briefly stretched to $0.0146. However, it crashed shortly, trading below the $0.01 mark up to early 2021.
Towards mid-2021, DOGE prices started to boom as the cryptocurrency bull market started. Unlike the previous crypto bull market, DOGE had an unforeseen advantage. Elon Musk, one of the most influential and wealthiest men in the world, became a huge enthusiast of the DOGE project.
In Q1 2021, Elon Musk had started accumulating DOGE and publicly announced his massive support on Twitter in February. Elon Musk’s influence continued over the next months, leading to a significant growth of the DOGE community. The price of this cryptocurrency project exploded due to his influence reaching an all-time high of $0.7376 in mid-2021.
The market cap increased to $80 billion, leading to the “Dogecoin millionaire” term since it made thousands of early Dogecoin investors extraordinarily rich. Is Dogecoin still an excellent investment? Early holders of DOGE took huge profits, resulting in a drastic sell-off that seemingly bottomed to $0.05. And since its capitulation, the price of Dogecoin has created some descending wedges, reaching the support level several times and forming lower highs every time.
Dogecoin Price Prediction 2024, 2025, and 2026
By December 2024, crypto market experts predict the average price of DOGE to be $0.1161, highest-$0.19 and lowest-$0.04220. When it comes to the end of 2025, the average price will be $0.3, the maximum-$0.45 and minimum-$0.16. In December 2026, the average price of DOGE is expected to be $0.5, lowest-$0.48 and highest-$0.54.
Dogecoin’s future looks strong, similar to those of other blockchain projects. You have the responsibility to make your own decision, whether to invest in this meme coin or not.