Today, cryptocurrency investors are having a rough day. Indeed, cryptocurrencies such as Dogecoin (CCC:DOGE-USD) are seeing some serious red. Dogecoin is down more than 20% over the past 24 hours, creating massive fluctuations in Dogecoin (DOGE) price predictions today.
Indeed, it’s interesting to note that investors can essentially buy Dogecoin at the same price as one month ago. This digital coin has quickly given up all its impressive gains over the past month. Accordingly, investors may be considering which direction this crypto play will be headed in short order.
There are a few underlying catalysts for this cryptocurrency decline today. As fellow InvestorPlace writer William White pointed out in a recent piece, changes in Chinese policy to disallow the use of cryptocurrencies by financial institutions and payment companies is affecting sentiment sharply today. This news has permeated the global market for most cryptocurrencies today.
Dogecoin’s “Dogefather” Elon Musk hasn’t been able to tweet enough value into this cryptocurrency. Similarly, it appears speculation around Dogecoin’s potential move to a proof-of-stake model, or the potential for Dogecoin to incorporate smart contracts, hasn’t been enough to buoy this digital token.
With all that said, let’s take a look at what the experts think about where DOGE is headed.
Dogecoin (DOGE) Price Predictions
For context, DOGE is trading for just over 36 cents at the time of writing.
- DigitalCoinPrice suggests a year-end target of 56 cents for DOGE. Additionally, the 2025 and 2028 targets for DOGE are $1.11 and $1.73, respectively.
- Fxstreet recently predicted a best-case near-term price target of more than $1 per DOGE. This prediction was based on a FOMO scenario, should DOGE break above the resistance level. However, this has obviously not materialized of late.
- RepublicWorld thinks DOGE could potentially hit $1.07 by the end of 2021, and $1.50 by the end of 2025.
- InvestingCube appears to be a bit more conservative with near-term estimates. This site suggests investors pay attention to the near-term resistance levels at 45 cents and 60 cents as guides.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
