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Dogecoin (DOGE) price

The Dogecoin price has skyrocketed by more than 14000% percent for investors who entered the market in early 2021. It exploded due to Elon Musk’s tweets, reaching a market valuation of more than $30 billion - higher than other mainstream cryptos. Today, the crypto ranks among the top 10 cryptos by market cap overtaking Litecoin or Shiba Inu.
Dogecoin price
Dogecoin price

DOGE price history – Coinbase chart

Even some Dogecoin investors that entered in April 2021 made up to 5x gains after a sharp price correction. However, the Dogecoin price today is trading at $0.2340, after falling by more than 70% from its all-time high.

In this guide, we’ll review predictions for the Dogecoin price and speculate how high the popular meme cryptocurrency could go.

Dogecoin live price chart

At the time of writing, the DOGE price is around $0.2340, with a 24-hour trading volume of $1.4B. Dogecoin now has a market cap of $31.3B or 1.20% market domination. The market has 132.2B Dogecoins in total circulation.

Review the DOGE live price chart on sites like Coinmarketcap or Coingecko for the latest price of Dogecoin now, or use our widget below:

Monitoring the latest cryptocurrency prices is essential as cryptocurrency is so volatile and reacts strongly to the news cycle.

DOGE crypto is currently ranked 10th behind Solana and Bitcoin in terms of market capitalization. DOGE token reached an all-time high price of $0.74 on May 8, 2021, and a low of $0.0082. The token witnessed a sharp rally in early 2021 and now is in a downfall or a correction.

In the short term, e.g. if looking at the 4 hour, daily or weekly timeframe, some traders may consider the price action today bearish and have decided to sell Dogecoin (DOGE). Those investors with a long-term bullish outlook will be looking to buy the dip however and still hold DOGE for a retest of the highs and further expansion into price discovery.

Just remember to set a stoploss and only invest what you can afford to lose or forget about for some time – bear markets can be multi-year in duration.

Where can I buy Dogecoin in December 2021?

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Given its decade of trading expertise, eToro has distinguished itself from the plethora of trading platforms available by utilizing a social trading approach to investment and emphasizing user experience.

eToro has successfully transformed the complex and perplexing world of financial speculation into a platform where individuals can interact and learn from one another. The online brokerage provides a diverse range of financial options. 

It is home to several cryptocurrencies, including Dogecoin. They are available for buying and selling against fiat currency. The trading fees are another advantage of the platform where you may trade without paying fees and use eToro’s Copy Trader function to mimic the actions of top traders. 

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Dogecoin price over the years

Dogecoin price DOGE price chart on Binance via Tradingview

Dogecoin was launched on December 6, 2013, with over a million people visiting in the first 30 days. Billy Markus and Jackson Palmer were the people behind this creation. Markus modeled Dogecoin’s protocol on existing cryptocurrencies Luckycoin and Litecoin, both of which utilize scrypt technology in their proof-of-work algorithms.

Rise of Dogecoin 2013 -2015

On December 19, 2013, Dogecoin’s value increased about 300% in 72 hours, jumping from US$0.00026 to $0.00095, with a daily volume of billions of Dogecoins.

This expansion happened when bitcoin and other cryptocurrencies were hurting from China’s decision to prohibit Chinese banks from engaging in the bitcoin ecosystem. Three days later, Dogecoin saw its first significant collapse, plunging by 80% due to this incident and massive mining pools abusing the little amount of computer power necessary to mine Dogecoin at the time.

Dogecoin’s trading volume momentarily eclipsed that of Bitcoin and all other cryptos combined in January 2014. However, its market capitalization lagged well behind that of Bitcoin. 

Moreover, Jackson Palmer left the cryptocurrency community in 2015. He did not return, believing that bitcoin, initially envisaged as a libertarian alternative to money, is exploitative and designed to benefit its top proponents. This event led to the exit of Billy Markus, who believed that Palmer’s stance was correct.

Dogecoin during the 2017-2019 crypto bubble and aftermath

The year 2017 and 2018 was great for Dogecoin as it achieved a peak of $0.017 on January 7, 2018, bringing its total market value to USD 2 billion.

Dogecoin’s value increased again in the summer of 2019, along with the rest of the cryptocurrency market. This was when Binance added the token to its platform, and many believed Elon Musk approved the coin in a cryptic tweet. 

Elon Musk and Reddit pumping Dogecoin 2020 – 2021

In July 2020, Dogecoin’s price soared in response to a TikTok movement to bring the coin’s price to $1.

Moreover, in January 2021, Dogecoin rose by approximately 8005 in 24 hours, reaching a price of $0.07, owing to Reddit user attention, which was aided in part by Elon Musk and the GameStop short squeeze. 

Similarly, it again pumped to a new high of $0.08 in February 2021 due to Twitter support from Musk, Snoop Dogg, and Gene Simmons. 

In April 2021, Dogecoin and other cryptocurrencies soared, aided partly by Coinbase’s direct listing on April 14, although the company did not provide Dogecoin trading. Its price originally touched $0.10 on April 14 before reaching a new high of $0.45 on April 16 (up 400 % in one week), with a 24-hour volume of approximately $70 billion. Dogecoin’s market capitalization exceeded $50 billion at the time, making it the sixth most valuable cryptocurrency; its value has climbed by more than 7,000% year to date. 

On May 4, 2021, Dogecoin’s value first reached the symbolic threshold of $0.50, a more than 20,000% gain in a single year. This event was followed by Elon Musk’s participation on Saturday Night Live, where Dogecoin fell 34% from $0.711 at the show’s start to below $0.470 45 minutes later. By the next morning, Dogecoin had fallen to a swing low of $0.401, a decline of 43.6 percent, and a loss of $35 billion in value.

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How is the price of Dogecoin (DOGE) determined?

Supply and demand

The supply and demand of Dogecoin influence its crypto price in the market. These markets feature order books with buying and sell orders like the stock markets. An increase in demand for DOGE coins will cause the price to rise, while an increase in sell order supply will cause the price to fall.

Dogecoin in the media

Dogecoin was in the spotlight in early 2021 for its meteoric gains of more than 14000%. Numerous major media sites included Dogecoin in their headlines, which encouraged people to purchase more of these tokens, thereby skyrocketing in prices.

Forbes stated how the DOGE coin started as a joke and then reached a market capitalization at around $78 billion. They also mentioned how the popularity had given it many advantages in terms of mainstream adoption. Finally, they said DOGE is an ideal choice for the short term, and investors must research before investing.

CNBC also took the opportunity to feature DOGE in their headlines, stating that how the crypto skyrocketed after Musk’s tweets. They also mentioned how marketing and social media efforts pushed the coin to the moon. Finally, they concluded by saying that how Dogecoin is going mainstream because of its popularity.


Volume plays a major role in determining cryptocurrency prices. An increase in transaction volume results in more stable cryptocurrency values and eliminates the possibility of skewed pricing. However, a low crypto volume indicates the prices will fall or remain flat. 

Social Media

Social media has been a great driver for the price of Dogecoin. In May 2021, Elon Musk’s tweets heavily impacted the token prices, driving it up to more than 14000% in a few days. Elon has been a continuous supporter of Dogecoin, and the market has not taken any chance with reacting to his tweets. 

Dogecoin (DOGE) mining 

Another determinant for Doge’s prices is its mining capability. Mining is the process through which new cryptocurrency tokens are created. Cryptocurrency mining entails the use of a computer to validate the next block on the blockchain. Its decentralized network of miners is what enables it to function as it does. In exchange, the protocol generates cryptocurrency tokens in addition to any fees paid to the miners by the trading parties.

Participants invest significant sums of money in high-end hardware and power to mine Dogecoin. In a proof-of-work system, such as the one used by Dogecoin, the greater the competition for mining a particular cryptocurrency, the more difficult it is to mine. That is because miners are effectively competing against one another to solve a difficult mathematical problem to verify a block. As a result, the cost of mining grows as more powerful equipment is required to mine effectively.

As mining expenses rise, cryptocurrency prices are set to rise as well. Miners will refrain from mining if the value of the mining money is insufficient to cover their expenditures. And, because miners are necessary for the blockchain to function, the price will have to increase as long as there is demand for the blockchain.

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How often does the price of Dogecoin (DOGE) change?

Dogecoin is a meme coin, but its value has grown as more people flock to this cryptocurrency. The crypto price had risen by almost 14000% in 2021 alone, valuing the project at more than $30 billion. While Dogecoin isn’t the most popular cryptocurrency in terms of utility, it’s evident that cryptocurrency investors are taking it seriously.

So, how often does the price change? Starting in May 2021, the Dogecoin value rose to ATH of $0.74, followed by a sharp fall up to more than 70%. The prices have kept falling since then, and the dogecoin price today is trading around $0.2340. 

The reason for the spike in DOGE prices is the tweets from Tesla CEO Elon Musk. Musk has been actively supporting DOGE. This has given us a narrow idea of how Dogecoin prices fluctuate. Dogecoin has moved based on certain social events rather than any technical or fundamental aspect.

So, one can say that the Dogecoin crypto price changes based on certain events on social media like Musk’s tweets. Hence, every individual must take due diligence before buying Dogecoin. The coin is extremely fluctuating and can wipe out profits within a few days. 

As a result, beginner investors may find it difficult to understand how to enter and exit this volatile market, but the following industry experts may help you find the right opportunity to enter and exit the market. InsideBitcoin is one such platform that is focused on actively monitoring the crypto market 24/7. The platform evaluates all the specifics of the market and gives investors the right help for their investments.  

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Investing in Dogecoin

In 2021, the crypto industry achieved new milestones, reaching a market value of $2 trillion along with indications of expansion. Even Dogecoin was a great contributor to this expansion. The token value rose to more than 14000%, becoming one of the most popular cryptocurrencies in the market. 

The token also took over Litecoin, making it the center of attention in the world of meme coins. However, it has now changed its direction, dropping by 70% since its latest high in late April.

Is It Worth Buying Shiba Inu (SHIB) in November 2021?

If you want to buy a Dogecoin for the best price, 2021 is the year to do it since the Dogecoin value has been rising since the beginning of the year and is predicted to continue rising. 

However, investors should keep in mind that the token has already lost more than 70% of its price value, and this pattern may continue for some time. It is advisable to do your research or consult an expert before making any investment decision. 

Who should invest in Dogecoin (DOGE)?

Dogecoin’s enormous gains may make it an appealing investment, but it’s critical to keep an eye on the future.

Investing in meme coins like Dogecoin is risky, and hence only those with some expertise in the cryptocurrency markets should consider investing in the token.

How to Get Started with Dogecoin (DOGE) investments

You can get started right away with these three quick steps to buy Dogecoin (DOGE).eToro

  • Open an account with eToro – To purchase Dogecoin, we recommend utilizing the reputable cryptocurrency broker eToro. The regulated platform provides super-low costs, fund safety, several deposit ways, and a comprehensive library of investing options. To begin, go to the eToro website and select ‘Join Now.’
  • Upload ID – As eToro is a licensed broker, you will be required to provide identification. You may upload a copy of your driver’s license or official ID card, along with a copy of a recent utility bill or bank statement.
  • Deposit Funds – Once done with uploading credentials, you can fund your account with the minimum deposit required as per your location. Simply go to ‘Deposit Funds’ and choose your desired deposit method.
  • Buy Dogecoin (DOGE) – After depositing funds, open eToro and enter ‘DOGE1xM’ into the search field to purchase Dogecoin. On the first result, click ‘Trade’ and enter the amount you wish to invest in the Dogecoin cryptocurrency.

Investing in Dogecoin responsibly

Investing in Dogecoin comes with a lot of risks. The token has a history of extreme swings that could drain the profits of investors. Therefore, it is advisable to know how crypto markets operate and the market’s fundamentals and technicals.

Here are a few tips that may help you to invest responsibly:

  • Allocate only a small percentage of your portfolio to cryptocurrencies
  • Research before choosing any crypto for investment
  • Choose the best platform to buy crypto.
  • Store your cryptocurrency safely with hardware wallets
  • Secure your cryptocurrency by using a VPN

Moreover, it is also suggested to take advice from experts. Following money management and risk management strategies is essential to safeguard your capital. Similarly, research with the help of advanced platforms like InsideBitcoins is recommended. 

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Dogecoin taxation

Buying and selling cryptocurrency is taxable since the IRS considers it to be property rather than cash. As a result, tax regulations that apply to property transactions (but not real estate transactions), such as selling valuable coins or antique vehicles that can rise in value, also apply to bitcoin, Dogecoin, and other cryptocurrencies.

Hence, gains made from Dogecoin or any other crypto are taxable, and failure to declare income may result in fines from the IRS. However, not every aspect of a crypto transaction is taxed, but certain limitations govern every aspect.

According to the IRS, buying DOGE with other crypto or vice versa and receiving mined tokens is taxable. Similarly, selling Dogecoin (DOGE) for cash or using Dogecoin to pay for goods and services is also taxable.

However, not every transaction is subject to taxes, and it is exempt if you donate Dogecoins to a qualified tax-exempt charity or non-profit. Similarly, buying Dogecoins and holding them or transferring them between wallets is also exempt from tax.

Dogecoin vs. other cryptos

Dogecoin has grown in popularity. The scrypt algorithm-based token has taken the crypto world by storm. Founded in 2013 by Jackson Palmer and Billy Markus, the token was started as a joke, making fun of the wild speculation in cryptocurrencies. The token does not have any specific use case when compared to Bitcoin or Ethereum. 

DOGE comes under the meme coins category. The token has a strong community that drives the prices. Moreover, Elon Musk has been a strong supporter of this coin. Dogecoin has received so much support that it’s now being used as a mode of payment.

Dogecoin vs. Shiba Inu coin

Like Dogecoin, Shiba Inu is an open-source, peer-to-peer cryptocurrency based on the Ethereum network, also regarded as a meme token. It was launched in August 2020 and is based on the Japanese dog breed Shiba Inu. Founded by an anonymous person called Ryoshi, the token is a ditto copy of Dogecoin. Moreover, it is regarded as a ‘Dogecoin Killer,’ and the coin has generated 1000000% gains alone in 2021.

Dogecoin vs. Ethereum

Ethereum is a blockchain network. It is a decentralized public ledger for recording and validating transactions. Users may create, publish, monetize, and utilize apps on the platform and use its native crypto ETH for payment. Ethereum is the king of blockchains for its ecosystem as it is compatible with a variety of apps.

Dogecoin vs. Bitcoin

Bitcoin is decentralized digital money that was first introduced in January 2009. It is based on the principles presented in a white paper by the pseudonymous Satoshi Nakamoto. It promises reduced transaction costs than standard online payment channels and, unlike government-issued currencies, is run by a decentralized authority. It is still the gold standard for digital assets such as Dogecoin.

Day-Trading Dogecoin (DOGE) vs. Long-Term Dogecoin (DOGE) Investments

Depending on your objectives, you may choose Dogecoin for either long-term investment or day trading.

This coin looks to be well-positioned for long-term growth. This makes it appealing to investors seeking big returns who don’t mind the coin’s potential volatility along the way. However, investors should keep in mind that Dogecoin is simply one of several cryptocurrencies competing for attention. 

At the same time, Dogecoin’s volatility makes it a viable short-term trading target. The coin has seen massive price swings in each of the previous months, creating possibilities for skilled traders to benefit. However, trading against the present slump should be avoided because there is no certainty that Dogecoin would retest its recent high.

However, investors have to do due diligence before investing in any cryptocurrency. One must conduct their research and invest based on a few factors like the capital allocation for the trade/investment and availability. 

The research process may be time-consuming as it requires you to go through a lot of genuine resources. To make things easy, you may consider using professional research platforms like InsideBitcoins. The platform offers comprehensive study instructions on numerous cryptocurrencies and makes the research process simple. The platform allows you to make wise decisions about your investments at the appropriate time.

Moreover, InsideBitcoins continuously monitors the crypto market and provides the best information needed for any individual investor. Additionally, you may seek the assistance of crypto bot traders, which will automate the process of studying and investing at the optimal time and save you time and effort.

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Future Predictions for Dogecoin Price

Dogecoin Price Forecast 2022 and 2023

Dogecoin’s price is set to move in an upward trend and reach $0.9 before the end of 2022. Dogecoin price may even cross the $1 mark by the end of the year with the expected high of approximately $1.22, and a low of around $0.96.

According to analysts, the Dogecoin (DOGE) price prediction may continue its rising trajectory., It may surpass the $1.4 mark by the end of 2023 with an expected high of around $1.45 and a low of around $1.12.

Dogecoin Price Forecast 2024 and 2025

For 2024, the price may hit $1.70 by the end of the year, with an expected high of approximately $1.74 and a low of around $1.40. Similarly, for 2025, DOGE price may reach a high of $2 while falling as low as $1.5. It may trade at $1.96 by the year’s end.

Read more Dogecoin price predictions here.


Dogecoin may not be the next Bitcoin, but it is here to stay. Despite efforts by copycats and authorities to suppress Dogecoin, the asset’s value has continued to climb, achieving a return of almost 4,000% in the first three months of 2021.

Many people are into buying Dogecoin for speculative objectives. If you’re ready to join the fray, you may start your crypto journey with our recommended broker, eToro. It simply takes three minutes to open an account and make your first Dogecoin purchase.

Key Takeaways:

  • Investing or trading Dogecoin is very risky.
  • Dogecoin now has 130 Billion coins in circulation.
  • Dogecoin may not have a greater utility. However, its popularity is something to consider.
  • Dogecoin was started as a joke but now values more than $30 Billion in market cap.
  • The price history of Dogecoin has not been stable. Hence, investors must take due diligence before investing.

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Will Dogecoin reach $1?

To reach $1, the market capitalization of Dogecoin would have to be $180 billion, and this is only possible by the end of 2030, where around 180 billion DOGE will be in circulation.

Where to buy Dogecoin?

You may buy Dogecoin through a registered online broker such as eToro, which charges 0% in trading commission. is another option that provides benefits of leverage, trade at 0% commission, and short-selling.

What is Dogecoin?

Dogecoin (DOGE) is an open-source cryptocurrency based on a fork of the Litecoin source code. The name implies that it is heavily influenced by the Doge meme that swept the Internet in 2013.

Is Dogecoin Dead?

Dogecoin is not dead and is actively trading on several prominent exchanges such as Coinbase, Binance, etc. Moreover, the token has surpassed Litecoin and Shiba Inu to become the most popular cryptocurrency on social media.

How many Dogecoins are there?

At the time of writing, there are more than 130 billion Dogecoins, and this number is growing at a 10,000-per-minute rate. The founders intentionally chose to make DOGE inflationary to promote “tipping” and other transaction-based usages.

Is Dogecoin legit?

Dogecoin isn’t a scam. It is merely another crypto that has acquired popularity among the general public. Fundamentally, Dogecoin is not a smart investment. However, it has been profitable in the short term.

How to Mine Dogecoin?

To begin mining Dogecoin, you’ll need a wallet to collect your DOGE earnings after you’ve met your payment threshold. You may also need to open an account with a mining service provider to start the process. There are many service providers in the market. However, it is wise to research the platforms to choose the best one.


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68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
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