Dogecoin prices surprised everyone as they doubled within a week. The major pump that pushed DOGE prices higher was thanks to Elon Musk who recently officially acquired Twitter. The opportunities for meme tokens are starting to materialize, especially for Doge, the biggest meme token in the crypto market. Will DOGE reach 20 cents now? Let’s analyze in this Dogecoin prediction.
What Happened to Dogecoin price?
The year 2022 was a boring year for cryptocurrencies, including Dogecoin. Prices of DOGE tumbled from a high of $0.16 and reached a low of $0.05, losing around 69% in value. However, the recent events managed to finally get DOGE back on a strong uptrend. In fact, prices spiked from $0.06 to the current price of around $0.12.
Crypto investors are excited to see how Elon and Twitter might integrate DOGE, as the latter was designed to be a quick tipping mechanism. Now that Elon heads Twitter, he might use his favorite token. In fact, he already allowed users to purchase goods from his other company with Dogecoins (the boring company).
Why is DOGE up 111%?
Following the official acquisition of Twitter, DOGE prices soared high and broke the psychological price of 10 cents. In a previous article, we did predict that this price was going to be broken. However, prices continued to rally up to 15 cents. This was followed by profit taking, however, which made DOGE stabilize at the current price of $0.0126 with a market cap of $15.6 billion.
This made DOGE jump to become the 8th largest cryptocurrency by market cap. Coming at number 7 is Binance USD with a market cap of around $21.4 billion.
Dogecoin Prediction: will DOGE reach 20 cents?
It is no secret that Dogecoin prices are pumping hard. The cryptocurrency market as a whole is moving forward. If cryptos continue to increase, and DOGE manages to break the strong resistance of 15 cents, we should expect to see DOGE reach 20 cents by the end of the year.
This prediction was not possible and was far off from our analyses as DOGE needed to triple in price within 2 months. Thanks to Elon and the “unconfirmed” future ahead, Dogecoin already doubled in price. increasing by another 8 cents in 2 months should not be impossible anymore.
Where to Buy DOGE?
There are many exchanges that offer DOGE. We at CryptoTicker recommend the below exchanges, as they have proven to be safe, secure and have good liquidity:
How to Buy Doge?
After choosing any of the above exchanges, you’d need to do the following:
- Create an account with that exchange
- Verify your account (submitting your legal documents)
- Funding your account (through bank wire, credit card or other means provided by the exchange)
- Selecting DOGE from the list of cryptocurrencies
- Buy DOGE
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