What is Dogecoin? History and Forecasts

Dogecoin is an open-source cryptocurrency named after the Shiba Inu, a Japanese hunting dog that has become a popular Internet meme.

Who, when and why created Dogecoin?

On November 27, 2013, Australian Jackson Palmer, an employee of Adobe Systems’ sales department, created Dogecoin as a joke about the quickly expanding number of cryptocurrencies.

He revealed his investment in a new digital currency on Twitter and expressed confidence in its impending success. Palmer’s subscriber, a Front Range Community College student, pledged to make the notion a reality. As word of the “dog coin” spread over the network, Palmer decided to put his thoughts into action.

He purchased the Dogecoin.com domain, created a rudimentary website, displayed a picture of a coin on his homepage alongside his favorite doge meme, and issued a call to action: “If you want to make Dogecoin a reality, get in touch.”

Palmer was contacted by Billy Marcus, an American programmer who wanted to build a parody cryptocurrency that would outperform Bitcoin in terms of popularity while also avoiding the dubious origins of other coins. He was so taken by Palmer’s concept that he decided to transform Dogecoin into a legitimate cryptocurrency based on the Bitcoin blockchain.

On December 6, 2013, the genesis block was published, and Dogecoin was officially announced on December 8. A mining pool was built and the first block was formed a few hours after the coin was released.

Palmer departed the group in 2015, but the founding team still performs under the humorous alias “Shibetoshi Nakamoto.” Max Keller is the chief developer, and Ross Nicholl and Patrick Lodder are the other developers.

Where to trade Dogecoin?

Dogecoin has emerged from the obscurity. Dogecoin cryptocurrency trading is now available on practically every major cryptocurrency exchange. Coinbase, Binance, Kraken, Bittrex, Bibox, and other crypto exchanges are among the top exchanges that provide Dogecoin trading.

The majority of exchanges offer straightforward registration procedures, and users can begin trading nearly immediately after completing the process. Traders can open accounts, wallets, and transfer funds using various methods such as credit cards, debit cards, and bank transfers.

Market Predictions for Dogecoin Price for 2022

Wallet Investor

About 3-4 months ago, Wallet Investor’s Doge price technical picture consisted mostly of huge green candlestick formations. Prices rose quickly and ruthlessly, leaving no room for vendors.

The coin hit its all-time high in May 2021, but then a bearish trend hit the market, leaving wounds that are still visible.

As Bitcoin regained support at $56,000, market mood turned optimistic. Dogecoin’s annual projection predicts that the coin will reach $0.476 by mid-2022, and that it will reach $1.438 in the next five years.

CryptoGround

According to CryptoGround’s estimate, Dogecoin will touch $0.2485 in November and $0.3047 by the end of the next six months, indicating a potential bullish trend. In a year, the price of Dogecoin will be $0.4039, and in five years, it will be $0.7046.

Trading Beasts

Another TradingBeasts prediction that gives mixed signals about the price of Dogecoin in the future. In December 2021, they estimate the price to approach $0.3809932, with a minimum expected price of $0.2590754 for dogecoin. On the charts, DOGE prices could reach an average of $0.3047946 in December 2024.

Doge Price Prediction for 2022

The price projection for Dogecoin is improving since there is a lot going on in 2022, including a lot of bullish momentum to counteract the current bearish trend. There may be some short-term solutions, but the general weekly and monthly charts are pointing to new high market values in the near future.

Positive attitudes emerge from technical analysis and fundamental images. Increased backing for the cryptocurrency sector could bolster our bullish Doge price forecast for 2022. According to current cryptocurrency market activity, the coin is expected to gain traction in the coming months, approaching the $1 level by the end of 2022.

According to numerous technical assessments, the price of Dogecoin could reach $0.6 by December 2022. In 2022, Doge is predicted to receive a lot more good news. Most significantly, such a rise in the Doge cryptocurrency’s price will attract institutional investors, bolstering the likelihood of a $1 touchdown.

DigitalCoin’s technical analysis predicts a value of $0.4317683898 for Dogecoin.

As significant cryptocurrency investors join the bandwagon, 2022 will see the rise of Dogecoin whales. These fresh Doge whales, like BTC whales, will aid in the establishment of long-term pivot points of support and resistance visible along the course of every mature asset.