DOGE To Reach $1 By December 2022: What Crypto Experts Predict?

As the price of Dogecoin (DOGE) fluctuated in recent weeks, impacted by the overall crypto market sentiment, investors and traders are wondering whether the meme token can improve and reach $1 by the end of the year.

According to CoinMarketCap, on July 26, DOGE is trading at $0.06104, which is $0.939 or 93.896 % away from the psychological level of $1 projected to reach by the end of 2022.

Furthermore, DOGE is down 5.91% on the day and 9.80% in the previous week, with a market value of $8.11 billion, a far cry from the $85 billion it attained at its all-time high on May 5, 2021.

DOGE 7-day price chart. Source: CoinMarketCap

Experts’ predictions for DOGE

According to the results of the current Finder price predictions report on July 19, the long-term price estimates by a consensus of 33 crypto and Web3 fintech industry professionals position the token’s price closer to $0.16 by the end of the year or $0.84 less than the expected $1 level.

In January, before the crypto crisis, these analysts predicted that the price of DOGE would reach $0.92 (closer to $1) by the end of 2030. However, these forecasts are no longer as optimistic and are currently at $0.54.

These analysts anticipate that by the end of 2025, DOGE will be worth $0.32, up from $0.57 in January.

DOGE price predictions for 2022, 2025, and 2030. Source: Finder

Is there any value without utility?

DOGE has a particular position in the crypto world, according to the Finder’s founder Fred Schebesta, as the first meme coin. This should not be overlooked in cryptocurrencies, where violating established methods for determining value is a valued sport.

Investors can be assured that while there will be others, and others will come and go, Doge will always remain the original. It’s not impossible to imagine the market remembering that from time to time.

Vanessa Harris, the chief product officer at Permission, believes that meme coins like DOGE and Shiba Inu (SHIB) were a product of 2021 as they attracted first-time crypto investors’ attention and will be abandoned in the future. In 2022, the lustre fade as meme coins’ lack of actual value pushes investors to seek more rewarding investments. The dog coins may not make the top 100, but the humour and friendship they generated will live on in our hearts.

The Dogecoin Foundation has unveiled the Dogecoin Trailmap, which describes the goal of expanding the token’s usefulness to increase its value. However, according to 53.6% of the 28 respondents to Finder’s January study, DOGE will be unable to transition from a meme coin to a utility coin.

In comparison, 17.9% of the panel feels it may succeed in rebranding, while 28.6% are unsure.