One market trend that has carried over into 2022 is Elon Musk’s quest to help boost Dogecoin (CCC:DOGE-USD). The Tesla (NASDAQ:TSLA) CEO has long been hailed as the “Dogefather.” This isn’t just because his own dog inspired the creation of popular meme token Floki Inu (CCC:FLOKI-USD). Musk has boosted Dogecoin several times since its initial May 2021 rise, raising Dogecoin price predictions with just a tweet.
This isn’t the first time Musk has called for Dogecoin payment acceptance. Earlier this month, Tesla began accepting Dogecoin as a means of payment for company merchandise. This news caused Dogecoin prices to spike, and today, they are rising again. Following the recent crypto crash, this is welcome news for investors.
The pupcoin pack largely moves in solidarity, and today is no different. Floki is trading in the green, as are Baby Doge Coin (CCC:BABYDOGE-USD) and Shiba Inu (CCC:SHIB-USD). What do Dogecoin price predictions look like, though? As Twitter erupts with speculation, let’s take a closer look at what some industry experts foresee for Dogecoin in 2022 and beyond.
Dogecoin Price Predictions: How High Can DOGE Bark?
- Trading Beasts predicts that Dogecoin prices could finish the year at 21.84 cents with an average price of 17.47 cents. The platform issues an average price of 23.03 cents for DOGE for the end of 2023 but adds that prices could rise to as much as 28.78 cents. Its average price for the end of 2024 is 25.1 cents with a high price of 31.48 cents.
- Wallet Investor remains bullish on Dogecoin, rating it as a profitable one-year investment. According to the platform’s prediction model, a five-year investment in DOGE of $100 is likely to generate a rate of return of 665.49%. If that holds true, the investment could be worth as much as $765.49 in 2027. Its price prognosis for early 2027 is $1.087 per coin.
- Gov Capital has also issued bullish predictions. It forecasts that Dogecoin will hit 22.7 cents in one year, increasing by almost 67%. With that rate of return, a $100 investment in Dogecoin would be worth $166.917 in exactly one year. The platform predicts that DOGE could rise as high as 39.79 cents by the end of 2023 and finish 2024 at 58.05 cents.
- Adding to the bullish trend is Digitalcoin. The platform predicts that Dogecoin will hit the price of 19.65 cents before the end of 2022. From there, it expects the coin’s price to rise even further, reaching 22.89 cents in 2023 and 24.42 cents in 2024. In 2025, it predicts that DOGE will hit 30.05 cents and though it will dip in 2026, it will recover in 2027, hitting 40 cents.
On the date of publication, Samuel O’Brient 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.