Dogecoin Prediction for end of 2019 and 2020 respectively

Dogecoin Prediction for end of 2019 and 2020 respectively

Dogecoin was first launched on Dec 6, 2013. Since then, it has been the subject of a remarkable rise to prominence. Dogecoin was created by Jackson Palmer and Billy Markus, based on the Shiba Inu meme. "Dogecoin Prediction for end of 2019 and 2020 respectively"

Dogecoin Prediction for end of 2019 and 2020 respectively

Even though that time cryptocurrency was not taken seriously at its inception, Dogecoin has developed into an important asset, having a market capitalization of $283 million as of October 2019, and ranked 29th based on its market cap.

Additionally, Dogecoin enjoys some real-world applications and is sometimes used for tipping on the internet to reward helpful posts

After Dogecoin climbing to its all-time high value of over $0.0185 back in January of 2018, Dogecoin began to experience a downtrend that lasted until January 2019.



Nevertheless, The Dogecoin (Doge) remains a cryptocurrency with significant appeal and appears unlikely to disappear in the near future. Taking that into price consideration, let’s take a look at the current state of the Dogecoin price movement and look ahead to its potentially bright future.

Dogecoin Price Prediction 2019

Until the current position, we have found out that the Doge price movements on April 13, 2015, and Nov 14, 2018, share several similarities. However, the price movement after Nov 14 occurs 1.25 times faster than that of April 13 and has a magnitude of only 0.22 of the same move.

Using these price ratios, we can find the date after April 13, 2015, that corresponds with Dec 31, 2019.

On March 6, 2016, the Dogecoin price was $0.00022. Measuring from the Dogecoin price on April 13, 2015, that is an increase of 122%.

Measuring from the DOGE price on Nov 14, 2018, and applying the 0,22 magnitude ratio, we get a price of $0.00297 for Dec 31, 2019.

The $0.00297 Dogecoin price does not fit with our prediction based on the average rate of increase.

This price level is to be expected since it is a relatively short-term price prediction.

However, it fits perfectly well with the hypothesis that the price is likely to consolidate near the support line before beginning a rapid upward movement.

We are at the ending of 2019, this rapid uptrend move has yet to begin.

Dogecoin Price Prediction 2020

In order to predict the Dogecoin price at the end of 2020, we are going to use the same method used to predict the price at the end of 2019.

If the price moves that began on April 13, 2015, and Nov 14, 2018, are similar, then the difference in price from April 13, 2015, through Dec 14, 2017, will be similar to between Nov 14, 2018, through Dec 31, 2020.

On Dec 14, 2017, the price was $0.034. Measuring from the price prediction on April 13, 2015, that is an increase of 3470%.

Using our 0.22 magnitude price ratio, we find a price of $0.0201 on Dec 31, 2020.

The Dogecoin price should consolidate until July 2020, when it should accelerate its rate of increase and reach a double top near the all-time high price.

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