Dogecoin has registered a distinct place for itself in the world of cryptocurrencies dominated by Bitcoin, Ripple, and Ethereum. The mascot, Doge, a Shiba Inu, is now a meme legend. With backing from celebrities like Elon Musk and Gene Simmons, Dogecoin has become a long-term investment for many active investors.
If you’re considering buying a few Dogecoin and holding them for the long-term, then you must learn about the Dogecoin price prediction 2030 and beyond. Get brief prediction details in this article.
Dogecoin History and Price Trend
If you’re going to invest and hold Dogecoin until 2030, you must know a thing or two about its background.
Dogecoin is an open-source cryptocurrency that started way back in 2013 as a fork of Litecoin. The result was that new blocks are created within a minute rather than the 2.5 minutes required for Litecoin.
It caught on and eventually went on to become a cryptocurrency with $300 million in market capitalization.
Very few cryptocurrencies last seven years, roughly the same amount of time Dogecoin has been around. This validates its credibility, legitimacy, and strong community support.
The coin gained immense popularity because of the memes made on its mascot, Doge.
The coin has experienced modest price movement for around three years since its memes went viral on the internet. But it’s been relatively volatile since July of 2016 when it reached an ROI of 300% from the day of creation.
The price was in a downward trend since 2018 and then stabled a bit before rising again. Towards the end of January 2021, it surged 800% to about $0.082 per coin. Consequently, it gained a $7 billion market value. This was followed by a sharp drop and is currently trading at $0.056.
Dogecoin Prediction for 2030
Most experts agree that Dogecoin is here to stay and not likely to drop in value at least in the next decade. This makes Dogecoin a good cryptocurrency for long-term investment.
Some predictions claim that the price of Dogecoin may hit 0.0184. But others claim even further that Doge may hit the $1 mark within five years. For this to happen, Doge has to jump 513% from its current rate. The number of users and transactions are the most critical factor that’d determine the price.
But all in all, the meme-based cryptocurrency is likely to be profitable in five years.
Dogecoin User Base and Popularity
The user base of Dogecoin is growing, and so is its popularity. Its popularity has been soaring since getting mentions from Tesla CEO Elon Musk. He also (unofficially) became the CEO of Dogecoin.
Similarly, internet personality Mia Khalifa started a fundraiser campaign on TikTok to push the Dogecoin’s price up to $1.
The cryptocurrency is also popular globally, with users located in countries like Venezuela, Nigeria, and Pakistan. The more number of users is always better for a cryptocurrency to succeed in the long-term.
While Dogecoin is experiencing multiple surges in price, the community leaders are sensible enough to warn FOMO users (Fear of Missing Out). In one official Twitter post, it urged users to make investment decisions on their own rather than being influenced by someone else.
That being said, Dogecoin is a good investment option till 2030. Always stay informed on the Dogecoin price prediction 2030 and beyond.