Dogecoin (DOGE) price prediction 2023

Our panel is split on whether or not Dogecoin (DOGE) is worth investing in.

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Our panel thinks Dogecoin (DOGE) will be worth US$0.13 by the end of 2023 before rising to US$0.33 by 2025. Finder analyses expert predictions and the latest survey was conducted in April 2023 where a panel of 32 industry specialists gave their thoughts on how DOGE will perform over the next decade. All prices mentioned in this report are in US dollars.

Dogecoin price predictions for 2023, 2025 and 2030

On average, our panellists feel that Dogecoin (DOGE) will be worth $0.13 by the end of 2023.

Looking further ahead, they predict that DOGE will be worth $0.33 by 2025 before rising to $0.75 by 2030.

The panel's predictions for the price of DOGE by 2025 were up very slightly compared to our January 2022 survey results when the panel saw DOGE closing out 2025 at $0.32.

However, the panel was more bullish on the price of DOGE by 2030. Its April 2023 prediction of $0.75 is about 39% higher than its January 2022 prediction of $0.54.

"Despite the fact that most people think Dogecoin is a joke and should therefore have no value, humor has real market value, and Dogecoin is likely to thrive and survive because the community is having fun," Ruadhan O, creator of Seasonal Tokens, said. "The sober experts who see no value in a joke are the ones who don't understand the market forces involved."

Paul Levy, senior lecturer at the University of Brighton, also believes that the Dogecoin community may continue to drive the price of DOGE higher.

"There's a grassroots loyalty in some investors ideologically aligned to its community roots and origin story," Levy said. " If it does continue to marginally trend upwards it may be time to carefully invest."

However, not all of our panellists are optimistic about the price of DOGE. A number of our panellists see DOGE as little more than an asset with no real value and think that it will ultimately fail.

"I am not convinced that any plan around Dogecoin could be successful in the long run," Yves Renno, head of trading at Wirex Ltd, said.

Is now the time to buy, sell or hold Dogecoin (DOGE)?

46% of our panellists feel that it's time to sell DOGE.

31% think it's time to hold the asset, while only 23% say it's time to buy it.

"This coin makes no sense," Elvira Sojli said. The associate professor at University of New South Wales (UNSW) believes it's time to sell DOGE. "It was started as a joke and it remains so."

Jeremy Britton, CFO at Boston Trading.co, agrees that it's time to sell DOGE.

"I believe that [because DOGE has] zero utility, zero store of value and [can be] infinitely inflated," Britton said. "DOGE is worth zero."

Shubham Munde, senior research analyst at Market Research Future, believes it's time to hold DOGE, but not necessarily because the token is underpinned by good fundamentals.

"The popularity of DOGE is soaring on social media, and its low cost will attract more beginner investors during the upcoming years," Munde said.

Aaron Rafferty, CEO and co-founder of StandardDAO, said DOGE is a buy based on the idea that the asset may have a use case in the future.

"People love to pump DOGE, and, who knows, maybe the network will gain utility," Rafferty said.

Will Elon Musk always have a positive influence on DOGE's price?

38% of our panellists feel that Elon Musk will always have a positive influence on DOGE's price, while 35% say that he'll eventually lose influence over the price of DOGE.

19% feel that he'll actually have a negative influence on the price of DOGE in the future.

A number of our panellists think that Elon Musk's influence is the primary factor that keeps driving the price of DOGE higher.

"I don't see any fundamentals behind DOGE – only Musk influence," Ilya Volkov, CEO of YouHodler, said.

Sathvik Vishwanath, CEO and founder of Unocoin Technologies Pvt Ltd., feels the same way.

"Its value has been heavily influenced by social media hype and the public statements of influential figures such as Elon Musk," Vishwanath said.

"Any predictions or views on Dogecoin's price should be taken with caution," he said.

Bottom line

Dogecoin holds a unique and cherished place in cryptocurrency folklore. It was created as a joke back in 2013, and, to the surprise of many, its market cap rose from nothing to almost $90 billion at its peak in May 2021.

Its current market cap is over $10 billion, though, which provides some indication of just how volatile the asset is.

If you're thinking of buying any DOGE, make sure you carefully consider the factors that could drive its value up or down before making a purchase.

Meet our panel

*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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