Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days

Christian Encila

Last Updated: July 27, 2022 5:05 pm

2 mins read

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After everything is trading in red in the crypto space, Dogecoin price made a refreshing spike and may even more than double in price by the end of 2022, according to analysts’ long-term price forecast.

Being the original and top meme token, Dogecoin is killing it in the crypto game. DOGE has seen a slight gain of 0.5% as seen in the past 24 hours.

As of press time, DOGE is currently trading at $6.2. Dogecoin is currently the world’s 10th largest crypto in terms of market cap. It has a market capitalization of $8.3 billion which has declined by 2% from its all-time high of $73.8 on May 8, 2021.

DOGE Seen To Wrap Up 2022 At $0.16

Forecast by 15 FinTech analysts revealed that DOGE price is said to grow twofold and could end 2022 at $0.16 which is a 158% jump compared to the meme coin’s current value. In comparison, DOGE ended 2021 at $0.17.

Fred Schebesta, founder of Finder, maintains a bullish perspective for DOGE price. He forecasts that the meme coin will end 2022 trading at a range of $0.25 to $0.30.

DOGE for Schebesta is unassailable and should never be undermined being the original meme coin.

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According to Schebesta:

“This shouldn’t be underestimated in the world of cryptocurrency where breaking traditional methods for identifying value is a cherished pastime. Investors can likely sit tight knowing that while there will be more, and others will come and go, Doge will forever be the original.”

On the other hand, John Hawkins, University of Canberra Senior Lecturer, is bearish with its forecast of DOGE. He says that Dogecoin is bound to end the year trading at $0.05 or down by 20%.

Hawkins believes that while DOGE is the original meme coin, its price is directly impacted by the controversial tweets of Elon Musk. While it can hoist the coin further up, it’s influence of DOGE price seem to dissipate over time.

DOGE total market cap at $8.3 billion on the daily chart | Source: TradingView.com

DOGE To End 2030 At $0.54

CoinMarketCap data reveals that DOGE currently trades at $0.06104, which is 93.896% below the support line. Additionally, DOGE has also shaved off around 5.91% today as well as dropped by 9.80% over the past week.

The meme coin’s current market cap is a miserable number compared to its all-time high of $85 billion seen on May 5, 2021.

At the beginning of the year, many analysts were extremely bullish and believe that DOGE price will hover to $0.92 or close to $1 by the end of 2030 but to date, the predictions have now moved at $0.54.

Featured image from Finance Magnates, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.