Doge Price Prediction: Today’s Dogecoin Price, 3rd Dec 2022

Dogecoin’s value increased in 2021 as the cryptocurrency markets recovered, gaining popularity on social media and spurring the creation of additional coins with Shiba Inu dog themes.

In order to provide a framework for governance and support for the development of the project’s community, the Dogecoin Foundation was established in 2014. Elon Musk unusually favours DOGE over other cryptocurrencies.

Furthermore, even in the context of cryptocurrency markets, the price of Dogecoin fluctuates wildly because social media communities are to blame for notable price peaks and subsequent crashes that garner mainstream media attention.

Doge Price Prediction:

Every three to four years, the price of Dogecoin has increased exponentially. Dogecoin, for example, increased by up to 6500% between mid-2017 and January 2018, rising from about $0.0003 per token to up to $0.019. This came after years of near-worthless stagnation. The price of a Dogecoin token remained stable between early January 2018 and December 2020, ranging between $0.001 and $0.006.

Then, between December 2020 and May 2021, it experienced another 25,000% increase, reaching a high of more than $0.76 per token. For the majority of 2022, it has remained between $0.05 and $0.15 per token. According to the historical average of Dogecoin, the next exponential bull run could start in a few months or a few years.

This could imply that Dogecoin will surpass the $1.0 and $3.0 thresholds in 2023. What could be the rally’s starting point? If Elon Musk’s theory that the Dogecoin blockchain will be included in a future Twitter payments system proves correct, the joke coin could see significant growth and demand.

In any case, Dogecoin’s popularity is expected to rise alongside the wave of cryptocurrencies that will eventually benefit its main competitors, such as bitcoin, Litecoin, and Ethereum. Because cryptocurrencies are still traded as speculative risk assets and perform better when financial conditions improve, it should be encouraging for them if economic conditions allow key central banks such as the US Federal Reserve to cut interest rates in 2023.

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