If you bought Dogecoin for $1,000 at the beginning of 2021, you could now have about $62,000. Dogecoin (DOGE) behaves unpredictably, so no one knows what levels its price can reach. But it is precisely because of its volatility that this currency deserves attention. There are well-known hints that makes DOGE price prediction easier. If you are lucky, you can potentially make good money by investing now.
It should be borne in mind that the probability that a meme cryptocurrency will become a reliable and long-term investment is very small. So, if you decide to buy Dogecoin, it is better to treat this investment as an experiment. Invest exactly as much as you are willing to lose, and not only the money that you can afford to lose, and you should not expect too much from this currency despite any past performance. For us, this is primarily a speculative instrument with growth potential and huge shorting profits.
Watch for Elon Musk Twitter for short-term DOGE price prediction
To successfully trade this coin, you need, first of all, to track all of Musk’s tweets, including subtle messaging. While the head of Tesla is showing interest in Dogecoin (DOGE), a growth of the cryptocurrency is likely. Just join the crowd and don’t forget to jump off the wagon.
The coin started as a joke, and now Dogecoin now has bilions of dollars of market capitalization. Moreover, it has a huge community that is limited to a relatively small number of other cryptocurrencies, and this is its strength. Moreover, it offers a fairly simple, but no less valuable offer for transferring funds using a peer-to-peer blockchain network. Despite the absence of any serious news, cooperation, if only Elon Musk’s tweets, or cryptocurrency updates, the forecasts for Dogecoin (DOGE) seem to suggest that its chart has a good bullish trend.
Dogecoin (DOGE) price prediction for 2021 and 2022
We are all interested in what the Dogecoin (DOGE) cryptocurrency exchange rate will be in 2021 and even in 2022. Unfortunately, there is no high-quality chart of this asset, due to the high volatility. But already we can talk now about the presence of good support near the level of $0.15 per coin. As we can see, there have already been several rebounds from this level and there are chances for continuing the rise.
Keeping Dogecoin trend bullish is crucial for the DOGE price prediction
It is also worth highlighting a long-term bullish channel, within which the asset moves. Moving averages also indicate an upward trend, and the price of Dogecoin (DOGE) has been constantly pushing up from them since the beginning of 2021, indicating the strength of buyers. The values of the RSI indicator indicate a qualitative bullish momentum since the beginning of 2020, this is a very strong signal for the continued rise in the price of the coin, the DOGE price prediction for the year states.
The first growth target for Dogecoin in 2021 and 2022 may be the $1.00 level. It is important for buyers not to leave the limits of the bullish channel and not fall below the Moving Averages. If the bulls manage to break through the upper limit of the ascending channel up, this will accelerate the rise, in this case, the growth target may be a fantastic level of $4-7 per coin.