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Finder analyzes expert price predictions each quarter. We conducted our most recent survey in January 2024 in which 19 crypto industry specialists shared their thoughts on how dogecoin (DOGE) would perform through 2030, while 29 panelists shared their thoughts on whether it's time to buy, hold or sell DOGE.
All prices mentioned in this report are denominated in US dollars.
On average, our panelists think DOGE will be worth $0.266 by the end of 2024 before rising to $0.389 by 2025 and $0.98 by 2030.
On average, our panelists think DOGE will be worth $0.266 by year-end 2024, which is 238% higher than the asset's price at the time of writing — $0.08.
Our panelists also predict that DOGE will rise to $0.389 by year-end 2025 and $0.98 by year-end 2030. Both predictions are relatively bearish, given that DOGE hit $0.73 in May 2021.
"DOGE is an asset whose future price is basically impossible to predict," says Daniel Polotsky, founder and Chairman at CoinFlip. "It's all based on narratives and vibes, and DOGE doesn't have an established use case in crypto besides being a fun OG project."
Nisheta Sachdev, Managing Director at Luna Media Corporation, sees eye-to-eye with Polotsky but says that DOGE could become valuable if it's adopted for payments.
"It's always going to be known as a meme coin," posits Sachdev. "Unless X and Tesla really implement it for payments, I don't see it breaking the $1 mark."
Joseph Raczynski, futurist at Joe Technologist, Consulting & Media, also believes that DOGE has no intrinsic value and that it's up to Elon Musk to legitimize the asset.
"[I] still believe DOGE will curl up in the corner and mummify unless a Musk type breathes new air into it by creating a proper use case [for it]," shares Raczynski.
Josh Fraser, co-founder of Origin Protocol, believes that new meme coins will continue to take market share from DOGE, though DOGE's position as the first meme coin will continue to work to its benefit.
"New meme coins have taken market share from DOGE, particularly BONK and PEPE," begins Fraser. "However, newer meme coins like shiba inu are more at risk of competition than DOGE, as the meme of dogecoin has been solidified over the last decade of its existence."
Jeremy Britton, CFO of BostonTrading.co, believes that DOGE's status as the longest-running meme coin won't be enough to keep it relevant in the long run, though.
"DOGE is a funny joke whose time has come," says Britton. "It holds no value, serves no purpose and is about as scarce as sand in the Sahara. Ultimately, scarcity drives value; this is why Bitcoin will be #1 and DOGE will be the 'Beanie Baby' at the yard sale."
Almost half of our panelists (48%) feel it's time to hold DOGE.
Just over one-quarter (28%) think it's time to buy DOGE, while just under one-quarter (24%) say it's time to sell the digital asset.
"I think DOGE will show some correlation with BTC and will grow accordingly with capital inflow into the crypto market," says Ruslan Lienkha, Chief of Markets at YouHodler SA, who thinks that now is the time to hold DOGE. "In the long term, [though, its] growth will slow down due to its unlimited supply and lack of use cases."
Paul Levy, Senior Lecturer at the University of Brighton, also says that DOGE is a hold, though he sees the downside to DOGE not having a supply cap and notes other issues with the crypto coin.
"The lack of a supply cap is a disadvantage going forward," shares Levy. "Dogecoin has a relatively poor technical support infrastructure and a development team that falls short in terms of proven performance compared to [the development teams behind] Ethereum or Bitcoin."
Carlo Di Clemente, Chief Operating Officer of GroveX Pty Ltd, says it's time to buy DOGE but warns: buyer beware.
"Dogecoin's performance in 2024 is unpredictable, subject to broader market trends, regulatory developments, social media influence, and competition from newer meme coins," says Di Clemente. "Its inherent volatility and susceptibility to shifts in investor sentiment and emerging competitors in the meme coin market require careful consideration for potential investors."
John Hawkins, Senior Lecturer at the University of Canberra, says it's time to sell DOGE, highlighting the fact that the crypto was created in jest.
"DOGE is literally a joke — that was why it was developed," deadpans Hawkins. "And it has not developed any use since. Its price just seems to follow trends in Bitcoin and react to Musk tweets."
Over one-third (35%) of our panelists believe traders focusing on other meme coins will hold DOGE back from hitting one dollar.
Just over one-quarter (27%) believe DOGE's lack of use cases will hinder it from hitting a dollar, while just under one-fifth (19%) say DOGE's unlimited supply poses the biggest challenge to it hitting a buck.
Charlie Aikenhead, SVP of Communications at WonderFi Technologies, Inc., says that traders focusing on other meme coins is the biggest challenge it faces in hitting $1. And he jokes that DOGE's price action is largely dependent on whether Elon Musk is talking about the asset.
"It depends on whether it gets public support from the Dogefather Elon," quips Aikenhead.
Dimitrios Salampasis, Senior Lecturer of Emerging Technologies and FinTech at Swinburne University of Technology, says DOGE's lack of use cases (plus other factors) will hold it back from hitting one dollar.
"Dogecoin is lacking a defined use case," says Salampasis. "Its unlimited supply and constant inflation rate coupled with slower development activity raise numerous questions and concerns about its long-term viability."
Samy Ben Bahmed, manager at Sastanaqqam, believes the unlimited supply of DOGE will hinder it from hitting $1, though he still thinks it will get there and beyond.
"Considering Dogecoin's reliance on market speculation and the current inflationary [fiat monetary] system, my outlook is optimistic," begins Ben Bahmed. "Dogecoin could potentially achieve a high of $1.50," he says, without offering a date for when this might occur.
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