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Dogecoin (DOGE) price prediction 2022
What does the future hold for the value of Dogecoin (DOGE)? Nothing bright, according to the panel.
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We reveal why our panel thinks Dogecoin (DOGE) will be worth US$0.08 by the end of 2022 before rising to $0.19 by 2025. However, the majority of the panel says it's time to get out. All prices mentioned in this report are in US dollars.
Finder currently measures expert predictions of the future DOGE price using 2 surveys. Our weekly survey asks a rotating panel of 5 fintech specialists on whether they are bullish, bearish or neutral on DOGE for the 2 weeks ahead. Our larger quarterly survey, last conducted in July 2022, asks a panel of 54 industry experts for their thoughts on how Dogecoin will perform over the next decade.
Dogecoin price predictions for 2022
Dogecoin may see a modest increase in its value in 2022, with Finder.com's panel of fintech specialists giving an average end of 2022 prediction of $0.08. Going forward, the panel projects DOGE to be worth around $0.19 in 2025 before rising to $0.64 by 2030.
The panel's July short-term predictions are down considerably compared to the January survey results when the panel saw DOGE closing out 2022 worth $0.16 and $0.32 by 2025.
However, looking further down the road, the panel is somehow a little more bullish on DOGE's price come 2030. Its July projection of $0.64 is higher than its January prediction of $0.54.
Interestingly, while the majority of the panel is in the sell camp for Dogecoin (more on that later), DOGE is the only cryptocurrency in Finder's Cryptocurrency Report that saw its 2030 July prediction come in higher than when the panel gave predictions in January.
Other altcoins saw their 2030 predictions come in far lower. The panel's July 2030 projection for Binance Coin (BNB) comes in 27% below its January number, with Solana (SOL) down 60% and Cardano (ADA) down 89%.
General partner at Panxora Hedge Fund Gavin Smith is fairly bullish on DOGE, saying the coin could top $0.24 by the end of 2022 on the back of its rabid supporters.
"While DOGE was launched as a joke coin, it has subsequently developed a large and loyal community. Detractors of the token forget that community is at least as important as uniqueness in the crypto space."
Walker Holmes, co-founder and VP of MetaTope, also thinks DOGE could see a surge in its value in 2022 with an end-of-year prediction of $0.40. However, he acknowledges that use cases for DOGE are lacking.
"DOGE has a great community but little utility. DOGE has the ability to attract a culture of content creators and creatives."
Swinburne University of Technology director and lecturer of fintech innovation and entrepreneurship Dimitrios Salampasis is in the sell camp. While he sees the coin being worth $0.12 come the end of the year, ultimately he says DOGE is "... nothing more than a non-serious coin with no value proposition or utility. One of the many to soon disappear."
Will the v.1.14.6 update have a positive impact on DOGE's price?
While the v.1.14.6 update should theoretically patch some vulnerability concerns with DOGE and make it easier to use, almost half the panel (45%) doesn't see it having any impact on DOGE's price.
Around a third (31%) collectively say the fix will have some positive impact. 17% say it will have a slightly positive impact, 3% a moderately positive impact and 10% a significant positive impact.
Will DOGE go to zero?
We're a little ways removed from the days when people thought DOGE was going to the moon. People are now more worried about it staying here on Earth (read: going to zero), something that over half the panel (55%) say will happen at some point in future. Just 1 in 5 (21%) see DOGE bouncing back.
Buy, sell or hold DOGE?
The majority of the panel thinks it's time to get out of DOGE, with 71% saying sell. Just shy of a quarter (24%) think you should hold onto what you've got and only 4% say it's time to buy.
Elon Musk is to blame for DOGE's popularity according to a handful of panel members including Bitwave CEO Patrick White, who is in the sell camp. "DOGE was a meme coin that shouldn't have really gotten to this point. Thanks, Elon," he said.
Kevin He, chief operating officer at CloudTech Group, is also on the side of selling and says DOGE has no future:
"The birth of Dogecoin was originally a joke. The sudden surge in value was entirely due to the early Dogecoin not having its own wallet and the collapse of a large number of early exchanges supporting Dogecoin trading at the time leading to a reduction in circulation and the promotion of Elon Musk on Twitter. We believe that cryptocurrencies like Dogecoin, which are completely useless and the value is purely supported by the community, will not gain value in the future."
Meet the panel
Dogecoin price prediction for two weeks' time
Each week we ask our expert panel's verdict on the Dogecoin price in a fortnight's time. When asked this week, 0 were bullish (same as last week), 3 were neutral (down 1 from last week) and 2 were bearish (up 1 from last week) about the price of DOGE for the week of 22 August 2022.
There are several coins and tokens that could be seen as Dogecoin competitors, so you'll need to consider their performance when predicting DOGE price fluctuations. Competitors to consider include:
- Bitcoin (BTC). The world's biggest and most famous cryptocurrency needs no introduction. Though it's currently battling scaling issues, no other coin comes close in terms of market cap or widespread recognition.
- Litecoin (LTC). The silver to bitcoin's gold, Litecoin also offers fast transactions and minimal fees. Created in 2011, it's a top five coin in terms of market cap at the time of writing.
- Steem (STEEM). The cryptocurrency that powers the platform Steemit, Steem is used to reward the creators of popular content.
Dogecoin holds a unique and cherished place in cryptocurrency folklore. It's fun and unintimidating but also provides impressive practicality behind its light-hearted exterior. However, there are some serious question marks around whether or not it can not only survive but also thrive in the crowded and increasingly professional world of cryptocurrency.
If you're thinking of buying any DOGE, make sure you carefully consider the factors that could drive its value up or down before making a purchase.
At the time of writing, the author holds IOTA and XLM.
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