Dogecoin price prediction: Is the slide a shorting opportunity? – Capital.com

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Dogecoin bearish as price struggles to advance from July lows
Dogecoin price prediction 2022, 2025 & 2030: will dogecoin go up?
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By Nicole Willing
Edited by Valerie Medleva

Updated

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After a couple of spring spikes, popular meme coin DOGE is back on the skids as it drops 6% today (9 May) to $0.012. Almost a year to the day since its all time high, DOGE has now lost 84% of that value.
Sentiment though has shifted in the cryptocurrency world and in particular away from meme coins. In the last month the cryptocurrency sector has lost 24% of its value as measured by market capitalisation. Rival meme coin SHIB is down more than 11% today.
Factors driving the wider bearish trend include concerns about geopolitical instability, a hawkish Federal Reserve and rising inflation which have all helped shift sentiment. 
It also appears that the sector’s whales, those holders of a large number of coins, are also a factor as they sell off holdings in a bid to reduce losses and prepare for a longer term downturn. 
Meme coins are popular with whales because of their ability to influence the trend of coin that holds little utility. An increasing number of these whales are not individuals but institutions such as hedge funds which then treat cryptocurrencies as high risk assets and, in times of heightened risk, seek to move their money to safer ground.
So what happens next? What is a realistic future target price? Is the current fall to continue presenting a shorting opportunity for traders?
What are the latest DOGE predictions and what do they suggest about the outlook for the dogecoin future price? 
This article looks at the latest DOGE crypto price predictions and analysis to help you address these questions.
DOGE, the coin launched as a satire o​​n the cryptocurrency space, went on a bull run last year as it gained popularity on social media and spawned a raft of other dog-themed coins. Doge expectations reached an all-time high as did the price of $0.74 on 8 May, a gain of 15,653% from the start of this year.
The price quickly fell on a “sell the news” response to Elon Musk’s appearance on US TV show Saturday Night Live, when he referred to the cryptocurrency as a “hustle”, having talked it up in previous weeks.
The DOGE price dropped as the broader cryptocurrency markets sold off, dropping as low as $0.16 on 20 July. 
Cryptocurrency markets bottomed out on 20 July, rising in part to a short squeeze on bitcoin and bullish sentiment after comments made by the likes of Twitter (TWTR) and Square (SQ) co-founder Jack Dorsey, ARK Invest founder Cathie Wood and Musk during a panel discussion at the B Word conference, which considered how institutions can adopt cryptocurrency.
Market observers and investors such as Mark Cuban noted that as well as investing in dogecoin, holders tend to use it more than other cryptocurrencies to pay for goods and services. Cuban owns the Dallas Mavericks basketball team, which accepts dogecoin and several other cryptocurrencies as payment for tickets and merchandise.
Because Doge is the one coin that people actually use for transactions. We take many others via @BitPay . But people spend their Doge and that means more businesses will start taking it. The greatest inhibitor to it’s growth is that you can’t spend the Doge you buy on Robinhood https://t.co/TrhT9pYkcb
As of 9 May 2022 a total to 2,058 merchants –  shops, internet services, hotels and gaming platforms etc – now accept doge as payment, according to Cryptowerk.
In September, Musk weighed in again on DOGE, tweeting that for the future of dogecoin its fees should drop to make the coin viable for small transactions.
On 14 January Musk tweeted that Tesla merchandise could be bought with DOGE leading to a 14% boost to the coin price.
GME
AAPL
GOOG
TSLA
Super important for Doge fees to drop to make things like buying movie tix viable
Earlier in 2021, he ran a Twitter poll asking if Tesla (TSLA) should accept DOGE for payment for its electric vehicles. The company introduced and then later halted bitcoin payments after concerns were raised about the energy usage of bitcoin mining.
In other DOGE news, cinema chain AMC has started accepting DOGE and other cryptocurrencies as payment for digital gift cards as it prepares to accept crypto for online ticket sales.
Bullish Bearish
95% 5%
You voted bullish.
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Give DOGE/USD a try
On 6 November DOGE lost out to rival Shiba Inu (SHIB) in a Twitter popularity contest in October according to analysis firm ICO Analytics. SHIB came top with 22% of the share compared to DOGE’s fifth place with a mere 4.8% perhaps firming up SHIB’s reputation as a potential DOGE killer.
On 23 March Dogecoin said it had been added to the 1800 ATMs of virtual currency exchange, Bitcoin of America
Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app, and in theatres. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8
The DOGE price moved up to $0.35 on 16 August, then declined to $0.2 on 26 September, with cryptocurrency prices dipping in late September. Musk added further impetus for Shiba Inu dog-themed cryptocurrencies to rise on 4 October, when he tweeted a photo of his puppy in a Tesla vehicle.
As prices have rallied sharply in October in response to the launch of the first bitcoin ETF (ProShares Bitcoin Strategy ETF), DOGE has bounced up to trade around the $0.25 level, hitting an intra-day high of $0.271 on 18 October.  It currently (9 May) resides at $0.12, with a market capitalisation of $15.6bn ranking it at 12th on the list of leading cryptocurrencies.
What is the outlook for the value of dogecoin, with cryptocurrencies potentially extending the gains?
At the time of writing (9 May) in the short-term dogecoin analysis from CoinCodex the sentiment was neutral. There were five indicators giving bullish signals and 27 bearish ones.
CoinCodex’s DOGE price prediction was that DOGE could fall 7% to $0.11 by 14 May.
None of the longer-term DOGE coin price predictions suggested it could surpass $1 in the next few years. 
The dogecoin price prediction from Wallet Investor was that the price could reach $0.24 in a year’s time and almost treble to $0.71 in five years.
Based on historical data, DigitalCoin’s dogecoin prediction saw the price potentially averaging $0.16 in 2022 and $0.23 in 2025, rising to $0.54 by 2030. 
In the meantime, Price Prediction’s dogecoin crypto price prediction put the average dogecoin price at $0.16 in 2022, rising to $0.49 in 2025 and $2.82 by 2030.
It’s important to keep in mind that cryptocurrency markets, and meme coins in particular, remain extremely volatile, making it difficult to accurately forecast what a coin’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts can get their DOGE predictions wrong.

We recommend that you always do your own research, and consider the latest market projection, news, technical and fundamental analysis, and expert opinion before making any investment decision. And never invest more than you can afford to lose.

Follow Capital.com to stay on top of the market’s latest DOGE news, trends and developments.
Forecasters predict the dogecoin future price will go higher over the long-term. However, it’s important to note that dogecoin’s prospects will depend on its use and interest from investors, among other factors. Other memecoins could displace dogecoin, limiting the potential for the price to spike in the future. The price movement will also depend on sentiment across the cryptocurrency markets, as it has tended to follow the trend.
Some DOGE crypto price predictions expected dogecoin could take several years to reach the $1 level. It’s important to note, however, that forecasts can be wrong. It’s vital that you conduct your own research to form a view of the market and make your own trading decisions.
Whether DOGE is a good investment for you depends on your personal circumstances. Cryptocurrencies are highly volatile, high-risk assets. You should evaluate the level of risk you are prepared to accept before investing, and you should never invest money that you cannot afford to lose.
As of 9 May, there are currently 132.67 billion dogecoins in circulation, according to CoinMarketCap. DOGE has the 12th-largest market capitalisation of all cryptocurrencies at $15.6bn. Unlike other cryptocurrencies, such as bitcoin, there’s no cap on the maximum number of DOGE coins that can be created.
Dogecoin is accepted by a wide range of retailers and service providers. According to Cryptowerk, you can use DOGE for payment at more than 2,000 merchants, from online stores to cinemas, web developers, gambling and gaming sites.
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