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Dogecoin Price Prediction and Analysis in January 2021

If you are looking for information on Dogecoin price prediction, you have come to the right place. In this article, we will discuss DOGE price prediction and analysis as well as gather opinions from other experts so that you can have a better idea of what to expect in January 2021.

Dogecoin (DOGE) Overview

Dogecoin_logo

Dogecoin is a fun coin that was inspired by the dog meme, which appears on the logo. The coin was forked from Litecoin by two developers, Billy Markus and Jackson Palmer. The cryptocurrency was created to infuse some fun into the highly technical space of cryptocurrency and make it lighter for non-tech participants.

Dogecoin has attracted a lot of attention from major figures like John McAfee, who once said that Dogecoin will go to the moon due to the adoption and usage. He is also named as the co-CEO of the coin alongside Elon Musk, who was referred to as the CEO for a few hours. According to McAfee, Dogecoin is one of the cryptocurrencies with the highest usage, which is a critical condition for price gains.

DOGE is now the 44 largest cryptocurrency, with a market cap of $562,779,142. There are 127,720,476,734 DOGE in circulation out of the total supply of 127,720,476,734 DOGE. $88,804,624 worth of cryptocurrency have been traded in the last 24 hours, and the current price is $0.004398.



Dogecoin (DOGE) Price Prediction: Analysis

DOGE price looks like it has been in accumulation for most of 2020. However, looking at the price chart on Coin Market Cap, there are a few price spikes that are notable. First is that of 9 February when the price reached $0.0033 for the first time in the year. It then dipped and was in consolidation till July, when it spiked to a new high of $0.00475.

After another slight dip and several weeks of consolidation and a dip to $0.0025, the price rose again to $0.00403 on 25 November. This coincides with the rally that was led by Bitcoin at the time. Although there has been another drop since then, DOGE price rose to its year high of $0.005 on 22 December, dropped to $0.0037 on 24, and has been in consolidation since the 25.

The daily chart of DOGE/USD suggests that the cryptocurrency is still in a bullish trend despite the seeming consolidation. Considering the Moving Averages, it is clear that the 20 MA is above the 50 MA, which is also above the 100 MA. This shows a positive short-term trend unless there is a change in the market that affects the setup. There is, however, no clear trend at the moment looking at the candles on the chart.

The following are key support and resistance levels for DOGE traders to use as a guide for setting up their trades as calculated by Walletinvestor:

  • Resistance Level (R3): 0.00482;
  • Resistance Level (R2): 0.00473;
  • Resistance Level (R1): 0.00461;
  • Pivot Point: 0.00452;
  • Support Level (S1): 0.00440;
  • Support Level (S2): 0.00431;
  • Support Level (S3): 0.00419.

Developments

There are no recently reported happenings about Dogecoin at this time.

Dogecoin Price Prediction: Market Opinion for January 2021

A number of websites give reliable predictions on the future performances of cryptocurrency. We have selected a few of them and bring their DOGE price prediction for January 2021 to guide you in your investment decision.

Walletinvestor

Walletinvestor is moderately bullish on Dogecoin. For DOGE price prediction, the website puts the price at $0.00513 at the start of the month.

Date Price Min Price Max Price
2021-01-01  0.00458  0.00415  0.005030
2021-01-02  0.00464  0.00425  0.005086
2021-01-03  0.00484  0.00438  0.00528
2021-01-04  0.00499  0.00454  0.00544
2021-01-05  0.00487  0.00445  0.00527
2021-01-06  0.00475  0.00429  0.00516
2021-01-07  0.00480  0.00437  0.00526
2021-01-08  0.00493  0.00452  0.00535
2021-01-09  0.00499  0.00453  0.00541
2021-01-10  0.00519  0.00476  0.00561
2021-01-11  0.00534  0.00489  0.00573

Tradingbeasts

Dogecoin is predicted to start the month at $0.0057212, according to this website. It is expected to reach a maximum of $0.0071681, a minimum price of $0.0048743, and a monthly closing price of $0.0057345.

Digitalcoinprice

Digitalcoinprice puts the price of DOGE in January 2021 at $0.01007166. This is a very bullish prediction that expects the cryptocurrency to gain 124.83%.

Gov.capital

The DOGE price prediction for this website is also moderately bullish. The cryptocurrency is expected to start January 2021 at $0.00435, reach a maximum of $0.00809715 and a minimum of $0.003196 before closing the month at $0.00358. Below is the full table of the price prediction for January:

Calendar date Regular Least possible price Best possible price
2021 January
2021 January 01, Friday  0.00435  0.0036975  0.0050025
2021 January 02, Saturday  0.00457  0.0038845  0.0052555
2021 January 03, Sunday  0.00457  0.0038845  0.0052555
2021 January 04, Monday  0.00469  0.0039865  0.0053935
2021 January 05, Tuesday  0.005092  0.0043282  0.0058558
2021 January 06, Wednesday  0.00641  0.0054485  0.0073715
2021 January 07, Thursday  0.00694  0.005899  0.007981
2021 January 08, Friday  0.007041  0.00598485  0.00809715
2021 January 09, Saturday  0.00657  0.0055845  0.0075555
2021 January 10, Sunday  0.00576  0.004896  0.006624
2021 January 11, Monday  0.00558  0.004743  0.006417
2021 January 12, Tuesday  0.00564  0.004794  0.006486
2021 January 13, Wednesday  0.00592  0.005032  0.006808
2021 January 14, Thursday  0.00566  0.004811  0.006509
2021 January 15, Friday  0.00524  0.004454  0.006026
2021 January 16, Saturday  0.00428  0.003638  0.004922
2021 January 17, Sunday  0.00376  0.003196  0.004324
2021 January 18, Monday  0.00430  0.003655  0.004945
2021 January 19, Tuesday  0.00428  0.003638  0.004922
2021 January 20, Wednesday  0.00441  0.0037485  0.0050715
2021 January 21, Thursday  0.00412  0.003502  0.004738
2021 January 22, Friday  0.00387  0.0032895  0.0044505
2021 January 23, Saturday  0.00380  0.00323  0.00437
2021 January 24, Sunday  0.00382  0.003247  0.004393
2021 January 25, Monday  0.004043  0.00343655  0.00464945
2021 January 26, Tuesday  0.0040060  0.0034051  0.0046069
2021 January 27, Wednesday  0.004019  0.00341615  0.00462185
2021 January 28, Thursday  0.004046  0.0034391  0.0046529
2021 January 29, Friday  0.00391  0.0033235  0.0044965
2021 January 30, Saturday  0.00379  0.0032215  0.0043585
2021 January 31, Sunday  0.00358  0.003043  0.004117

Dogecoin Price Prediction: Verdict

Dogecoin is not in its best shape at the moment, but some of the websites hope that the asset will do better in January 2021, even if not in a big way. However, this investment should be approached with caution as the market can be quite temperamental at times, and it could take a significant amount of time before the investment is recovered.

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