Dogecoin is by far the most popular, oldest, and most valuable meme currency. It has been around for more than a decade, during which time it performed exemplarily well, making it one of the most lucrative digital assets so far. After rising to such heights in terms of popularity and ROI over the last decade, you might be asking is it too late to buy Dogecoin in 2024.
In this guide, we will tell you whether it is late to buy Dogecoin and if the meme coin is worth buying today. We will also tell you about the best altcoins to buy alongside Dogecoin and where to buy cryptocurrencies like Dogecoin.
Article Recap – Is It Too Late to Invest in Dogecoin (DOGE)
A growing number of analysts and crypto investors expect the price of DOGE to go up over the long run and it is not too late to buy Dogecoin crypto. Below is a summary of the key points that we will be addressing in this post:
- A growing number of analysts and investors are confident that it is not too late to buy Dogecoin. They argue that – like virtually all other digital currencies – it still is a nascent asset with a highly promising and positively disruptive future.
- Dogecoin is a high-risk/high-reward crypto asset. In addition to operating in a highly unpredictable market, Dogecoin is also wildly volatile and, therefore, not the best crypto to buy for risk-averse and beginner investors.
- Dogecoin only started capturing the crypto world’s attention in the months leading to the 2021 market rally. To date, it continues to derive much of its price action from hype but has also received multiple endorsements and adoptions that analysts believe will influence its future price performance.
- Dogecoin has had stellar past price action and has been able to maintain an overall uptrending price action. DOGE tokens are expected to sustain this and even rally to new heights in the near future – and this is part of the reason why we believe it is not too late to start buying the meme coin.
Below, we will discuss some of these points in detail. We will go over Dogecoin’s past price action, tell you what analysts believe it will be worth in the foreseeable future, and look at the best future cryptos worth investing in alongside the top meme coin.
Your capital is at risk. Crypto asset investments are highly volatile and speculative
Dogecoin Price History
Dogecoin is the pioneer meme coin, created by software engineers Billy Markus and Jackson Palmer in December 2013. It started as a joke and was released to the online community as a way of making light of Bitcoin and cryptocurrencies. It even adopted the image of a popular meme at the time – a Shiba Inu dog – as its logo.
Below, we trace Dogecoin’s price action throughout the last decade and also identify some of the factors that had the biggest influence on this price action.
Dogecoin Price: 2013 to 2020
In the years following its launch, Dogecoin reported minimal price activity. The CoinMarketCap, for example, places the meme coin’s earliest known market price – in July 2014 – around $0.0001. The digital asset traded around this price level throughout the rest of 2014, the entirety of 2015 and 2016, and for the better part of 2017. Its daily trade volumes were also relatively low, ranging from a few thousand and finding it hard to break above $200,000.
Dogecoin only started attracting crypto traders’ attention in January 2018. The first indicator of growing popularity for the joke currency was the break above $1 Million for its daily trade volumes. This was followed by a sharp price rally that peaked at $0.0135 in mid-December 2018 while the daily trade volumes tore above $200 Million.
Much of this can be attributed to the crypto market rally that was taking place at the time. This could, in turn, be attributed to massive hype around the crypto industry, increased media coverage, and the crypto ICO boom.
The crypto rally and, subsequently, Dogecoin’s stay at the top was rather short-lived. The crypto market started contracting while DOGE prices started plummeting almost soon after. A year later, Dogecoin had shed more than 90% of this peak price and was struggling to maintain a support level above $0.001.
It would trade around this level with the occasional climb to the highs of $0.004 throughout 2019 and for the better part of 2020. Interestingly though, trader/investor interest in the meme coin remained as its daily trade volumes ranged between $10 and $220 Million throughout this period.
Dogecoin Price: 2021 and 2022
Dogecoin stormed into 2021 selling for $0.004. This was at the base of what promised to be the biggest price rally for the meme coin and the crypto market at large. It would then enter into a rather fast accumulation phase that saw it set the current all-time high of $0.74 in early May – having gained 18500%+ in less than five months.
Number of factors can attribute. First was the recovering crypto market that broke into a rally. Second has to be the renewed investor interest in the crypto industry, especially the coming in of institutional investors. It could also have been triggered by public endorsements from the likes of Elon Musk and adoption by the likes of the Dallas Mavericks NBA team.
Over the last half of 2021 and throughout 2022, Dogecoin was suffering a slow bleed. And by the end of 2022, DOGE was selling more than 90% below the early 2021 all-time high.
Dogecoin Price: 2023
Like all the best altcoins, Dogecoin stormed into 2023 in high spirits and jumped up by close to 40% in the first month of the year. This is in reaction to a false price breakout by Bitcoin. This was followed by a downward-price correction that saw DOGE’s value temporarily slip below the December 2022 prices in March.
This was followed by a quick upward correction that sent the altcoin prices above $0.1 in April – for the first time in seven months. Today, the altcoin is back to its slow plummet and has been ganing value throughout the last quarter of 2023.
Dogecoin Key Moments and Price Triggers
You now understand how Dogecoin has performed in the close to a decade that it has been around. In the section below, we extend our assessment of this top meme coin by looking at its key moments and most impactful price triggers of the last decade:
- CoinMarketCap records place Dogecoin’s earliest market price around $0.001 in mid-2014. Seven years later, the meme coin’s popularity helped push it to previously unimaginable heights, setting the current all-time high of $0.74 – more than 740000% above this original market price.
- A number of critical factors can be attributed to Dogecoin’s upside price swings. First are the different crypto market rallies. Elon Musk’s endorsement and frequent tweets have also helped keep DOGE prices on an uptrend. So have endorsements by the like of the Dallas Mavs NBA team, who accept DOGE as payment for game tickets and merchandise.
- Dogecoin enjoys one of the largest communities of online followers – more than 7 Million followers across different social media platforms. These have been instrumental in pushing up DOGE token prices through hype and even artificial price pumps.
- Dogecoin remains the most valuable and arguably the most popular doge currency. It has also earned itself a position among the top 10 most valuable cryptocurrencies with a $10+ Billion market cap.
- Over time, Dogecoin has proved its resilience. It has had multiple crypto market crashes and rebounded to a new all-time high after virtually every crash.
Dogecoin Price Forecast for 2024, 2025, and 2030
The general feeling among analysts and investors is that Dogecoin price will continue to rise in the future. The majority of these rank Dogecoin high among the next cryptos to explode and even expect to break into a run that sets a new all-time high within the next few months.
In this section, we will be examining the price direction that our analysts, as well as different forecasters and analysts, believe the pioneer joke currency will most likely assume in over the next few years.
Dogecoin Price Forecast for 2024
There is an optimistic general consensus among investors, analysts, and forecasters that Dogecoin will rebound and end the year selling for much more than its current price. They believe the meme coin has already proven its resilience and obedience to market trends. And since they expect the market to start rebounding, they are confident Dogecoin, too, will follow the rebound trend. The most optimistic among these expect Doge to rally by more than 200% in the 2024 to end the year selling above $0.25.
Dogecoin Price Forecast for 2025
Crypto analysts and investors expect the market to break into a price run sometime in 2024 or early 2025 in reaction to the Bitcoin halving event that takes place in early 2024. This is expected to have a significant impact on the price of all digital currencies – including Dogecoin. Some analysts and investors are confident this price rally will help push DOGE’s value more than 1400% above the current price and help it break parity with the US Dollar before the end of 2025.
Dogecoin Price Forecast for 2030
It is hard to even imagine what Dogecoin will be worth at the turn of the decade. But a number of analysts expect its value to range between $1.5 and $3. These expect a number of factors will drive DOGE values this high, especially when you take into account its unlimited token supply. These include mass adoption of crypto technologies, multiple crypto rallies that send DOGE price prediction to newer heights, mass adoption and endorsements from reputable brands and individuals, as well as its ever-growing community of followers.
Your capital is at risk. Crypto asset investments are highly volatile and speculative
Dogecoin Use Cases: What Will be Dogecoin’s Core Use Cases in Future?
One of the primary factors that you need to pay the most attention to when examining a coin’s sustainability is the possible future use cases as well as those of its underlying blockchain technology. Looking ahead, our analysts are confident that Dogecoin’s use cases will continue growing, which partly explains their optimistic forecasts about the meme coin’s future price action.
Some of Dogecoin’s use cases for the next few years will include:
Payments
The number of brands endorsing Dogecoin is expected to continue rising in the near future. These will add DOGE to their lists of supported payment methods and will seek to leverage its growing community of followers, fast transaction processing speeds, and low transaction fees.
International remittances
The growth rate for Dogecoin’s community of followers has been on a sustained uptrend. The number of individuals willing to accept Dogecoin as a cash alternative for settling payments and for international remittances has also been rising steadily.
Store of value
Dogecoin, like most other cryptocurrencies, has consistently outperformed other financial instruments. It has also posted a higher ROI than interest on bank savings and outpaced inflation. This makes it a perfect store of value.
Speculative investing
For the longest time, Dogecoin has been a favourite crypto asset among active traders and speculative investors. As crypto goes mainstream, we expect the number of speculative investors seeking to profit from Dogecoin’s untamed volatility and unpredictable price action to continue rising.
Yield farming
Given Dogecoin’s popularity, we also expect the number of DeFi programs and protocols embracing the altcoin to keep rising. We expect them to introduce support for DOGE staking, yield farming, saving, and other passive income-generating opportunities for DOGE investors.
Is It Too Late to Buy Dogecoin (DOGE) – What Experts Say
We have already mentioned that Dogecoin enjoys a large online following. Among these followers are A-list entrepreneurs, expert analysts, investors, analysts, and crypto influencers. These haven’t just invested in the digital currency but have also consistently voiced their support for the meme coin. As this list of endorsers grows longer, we should remind ourself that it perhaps isn’t too late to buy Dogecoin after all.
Here are a few and what they had to say about Dogecoin:
Elon Musk
Elon Musk is by far the most vocal advocate of the top meme coin. He has played a critical role in driving its price up and market cap to rival that of the top 10 most valuable crypto technologies. He argues that he started getting actively involved in the Dogecoin project but only went public with his contribution in 2021.
Since then, he has made multiple tweets – mostly in the form of memes – that seek to drum up support for the joke currency. Most of these tweets often trigger a momentary price run for the altcoin. His most recent actions that express support for meme coin include adding the Dogecoin symbol to his bio after Twitter’s rebrand to the X Company.
Mark Cuban
Mark Cuban is also a strong advocate of the Dogecoin meme currency. He, too, has consistently praised the meme currency. His Dallas Mavericks basketball team was among the first brands to start processing DOGE as payment tickets to NBA games and merchandise. He has also hailed the vibrancy of the Dogecoin online community and confirmed that he owns a few million of the meme currency token.
Where to Buy Dogecoin (DOGE) Today
From all the information that we have shared hereinabove, you can easily tell that it is not too late to start buying Dogecoin. But where can you buy this meme coin and all the other hottest cryptos today? The simple answer is that there exist hundreds of crypto exchanges and online trading platforms that list Dogecoin.
But vetting these crypto trading platforms can be overwhelming. To help you start buying Dogecoin immediately, we provide you with an overview of what we consider one of the best places to buy crypto safely today.
eToro Dogecoin Exchange – Overview
eToro is one of the most popular and reputable crypto exchanges in the world. It is also one of the most regulated crypto exchanges. In addition to these, however, several factors help it stand out among its peers. These include its affordability, user-friendliness, range of supported assets, and security.
For starters, eToro maintains a quick and straightforward client onboarding process. It only takes a few minutes to create a crypto trader account on the exchange. You are then introduced to a highly navigable interface that appeals to both novice and pro investors.
Beginners are treated to a large educational resource with such guides as how to invest in crypto as well as a free demo account. Experts, on the other hand, have easy access to free and highly advanced trading, analysis, research, news, and risk management tools.
Secondly, you only need at least $10 to start buying and selling crypto on the all-popular brokerage. And this deposit can be made via a range of fiat payment options, including cards, banks, and wallets. In fact, eToro is one of the few exchanges that let you buy crypto with PayPal. Further, it doesn’t charge a broker commission. Rather, it maintains a fixed transaction fee of 1% of the trade volume.
eToro then provides all its platform users with free crypto wallets – both custodial (exchange-based cold wallet) and mobile crypto apps (app-based hot wallets). These have never been hacked, plus eToro stores 90%+ of your assets in an offline vault and has taken up a 1 Million (EUR/GBP/AUS) insurance cover for all client accounts with the Lloyds of London.
Your capital is at risk. Crypto asset investments are highly volatile and speculative
Is It Too Late to Start Buying Dogecoin? – Our Opinion
The simple answer to this question is; NO – it is not too late to buy Dogecoin today. Our answer is informed by two key factors. For starters, both Dogecoin and the crypto industry are still young. We, therefore, expect the growing adoption of crypto and blockchain technology to increase DOGE’s use cases, which will push up the meme coin’s value to unprecedented heights in the near future.
Secondly, it is not too late to buy Dogecoin because its popularity, as well as the number of adoption and endorsements, are still rising. Moving into the future, we expect more brands to adopt DOGE as a payment method, with more brands endorsing investments in the altcoin. These will have the net effect of catapulting its value to unimaginable highs.
That said, we must caution you that Dogecoin is a wildly volatile crypto asset. It is not the most beginner-friendly crypto asset out there. We, therefore, don’t recommend novices or the risk-averse to buy Dogecoin today. Before investing in Dogecoin, we would also ask you to conduct a thorough self-evaluation aimed at helping you decide if DOGE is the best investment for you.
Some of the factors you need to consider when deciding if Dogecoin is the right investment for you include understanding your risk tolerance. Also, check your disposable income, your investing goals, and your understanding of the crypto market/stock trading experience.
Alternative Coins to Consider Buying Alongside Dogecoin
Dogecoin has positioned itself as one of the best cryptos to buy for anyone looking for outsized returns on investment. We must, however, mention that though it is a meme coin, it isn’t the most lucrative joke currency out there. Seeing that we had already mentioned that it is not the most beginner-friendly crypto, we would like to introduce you to two cryptos worth buying alongside Dogecoin.
Ethereum (ETH)
Ethereum is one of the most promising large-cap cryptocurrencies. It has solid fundamentals and is also one of the most promising futures – owing to its rapidly expanding ecosystem, soaring use cases, and recovering market. Some optimists are even confident that ETH price will dethrone BTC as the most used and most valuable crypto by 2030. This makes it a great long-term investment for newbie investors or anyone looking to balance their crypto portfolio.
Your capital is at risk. Crypto asset investments are highly volatile and speculative
ApeCoin (APE)
Launched in early 2022, at the height of the crypto market crash, ApeCoin is a relatively new meme coin. It is the native token for the APE ecosystem and the utility token for the ultra-popular BAYC and MAYC NFT projects, the Other side metaverse, and the ApeCoin web3 economy. The meme coin is yet to price in all these developments that took place during the 2022 bear market. We, therefore, expect it to explode as soon as the market shows signs of recovery. This makes it the best Dogecoin alternative for short-term investors looking for maximum gains during the next crypto market rally.
Your capital is at risk. Crypto asset investments are highly volatile and speculative
Conclusion – Is it Too Late to Buy Dogecoin?
There goes the comprehensive coverage of whether it is too late to buy Dogecoin. Clearly the overwhelming majority of crypto analysts and investors believe that it is not too late to start buying Dogecoin and other best cryptocurrencies.
They argue that DOGE has always been a highly resilient asset that’s also obedient to crypto market trends. Analysts, therefore, expect the meme coin price to start rallying as soon as the market starts recovering. They also argue that the crypto industry is still in nascent stages – yet primed for outsized growth – which means that Dogecoin’s value will continue growing, fueled by mainstream crypto adoption.
Related: Best Dogecoin Trading Platforms Today
Reviewed and Fact Checked by Kamal Masri, Fintech, Blockchain Writer and Investment Analyst.
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FAQs on whether it is Too Late to Buy Dogecoin
Is Dogecoin worth buying today?
Yes, Dogecoin is worth buying today because it has not only proved its resilience, but its price is expected to rebound and resume an uptrend that talks it to a new all-time high before or after the Bitcoin halving event of 2024.
How long will it take for Dogecoin to reach $1?
No one can tell with utmost accuracy when Dogecoin will break parity with the dollar. It only needs to rally b 1400% to get here and the more optimistic analysts and investors are confident that it will get here during the next crypto market rally.
When is the best time to invest in Dogecoin?
The best time to invest in Dogecoin or any other cryptocurrency is after a market when they are selling at a highly discounted price. And if you miss buying the dip, consider using the dollar cost-averaging trade strategy.
Where will Dogecoin be in 10 years?
Elon Musk and the Dogecoin team have been on multiple on several developments aimed at ensuring the meme coins survival and sustainability of its underlying blockchain technology. It is highly likely that Dogecoin will still be around and adopted as a payment method by countless brands in the next ten years.
What will Dogecoin be worth in 2025?
The Bitcoin halving event that is expected in early 2024 is expected to trigger a market-wide bull run sometime in 2024 or 2025. This is, in turn, expected to catapult Dogecoin's price to a new all-time high. Some optimists are confident that DOGE will be trading above $1 at the end of 2025.