Short-term price predictions for cryptocurrencies can be very tricky, considering the amount of volatility in this trading market. While some digital coins have provided good returns for investors, the overall market sentiment looks very bearish, although the situation can change very rapidly. Unlike the popular choices like the XVG Coin (Verge), the popularity of Dogecoin has befuddled its creators.
Since December 2017, the Dogecoinprice grew by over 800% from a price of $0.002 to around $0.0018 in January 2018.
This article presents the top 3 price predictions for Dogecoin (DOGE), which was launched in December 2013 and is currently trading at around $0.0245 with a market cap of around $287 million and a circulating supply of 115 billion coins. The price value for DOGE coins is yet to be at par with existing successful ones, e.g. as per all the Golem Price charts, 1 Dogecoin = 0.0061944372 GNT coins.
Prediction 1
Walletinvestor.com rates the Dogecoin wallet as an excellent short-term investment for investors, with a 1-year forecast of $0.00385 making the 1-year earning potential for the coin at +56.83%. For a current investment of $100, investors can buy a total of around 40755 DOGE coins.
The 5-year investment forecast for Dogecoin stands at around $0.0091 marking a return on investment of around 270%. Your current $100 investment will be worth $370 by the year 2023.
Prediction 2
According to this recent cryptocurrency charts, Cardano and Dogecoin are among the potential movers for this year. While cryptocurrency experts expect the price of Cardano to reach over $2.33 this year, Dogecoin price is set to a highly bold 19 cents by the end of the year. Based on this prediction made in March 2018, it potentially marked a massive increase of over 3000% over a span of 9.5 months.
Initially launched as a joke cryptocurrency, this price prediction marks a major shift in investor perception about the value of Dogecoin.
Prediction 3
Based on a Cryptocurrency Predictions Survey conducted in March 2018, a panel of 9 cryptocurrency experts have predicted modest growths for the top 3 cryptocurrencies (by market cap) – Bitcoin at 194%, Bitcoin cash at 123%, and Ethereum at 212%. Some of these experts included Clayton Daniel (founder of SproutSuper and author of bestselling book, “Fund Your Ideal Lifestyle”) and Adrian Przelozny (CEO and founder of the Independent Reserve digital currency exchange).
After reviewing a total of 12 digital coins, the highest price potential by the experts was for Dogecoin, which is estimated to grow by a massive 2920% by the end of 2018, followed by Cardano, which is predicted to increase by 595% by this year-end.
Conclusion
Based on these price predictions, cryptocurrency experts are placing highest returns for investors on coins like Dogecoin and Cardano, rather than on established digital coins like Bitcoin and Ethereum. While some of these price predictions are practically feasible, one cannot completely rely on whether these predictions will come to bear fruit.
Despite the fact that the massive volatility is associated with the price of cryptocurrency coins, the underpinning blockchain technology and industry support for digital coins like Dogecoin should ensure that investors can earn good to decent returns by buying at low prices and holding on to them for a duration of at least five years.
