Dogecoin Price Prediction 2019

Dogecoin might have lost some of its bites lately but there was much bark on the internet about it for sure. With some analysts predicting that the currency has run its course, we might just feel those DOGE teeth sink back into the market in 2019.

Dogecoin Price Prediction 2019

General Market Movements and Sentiment Shift

The downfall of altcoins that were mainstream media darlings at the start of the year, DOGE among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in the recent period was met with the, for the most part, the inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.

These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.

Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, I am just observing the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because it goes nowhere, ideas are worthless without execution and real users that see value in the project.

Our DOGE Price Prediction for 2019

Dogecoin, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, Dogecoin can hope for one as well. Since that is very unlikely, don’t expect much to change for Dogecoin price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

Suppressor depress altcoins as money flows into Bitcoin;
Or, take altcoins along for the ride
In cases when Bitcoin plunges, it will likely:

Depress altcoins as money flows into fiat;
Or, cause altcoins to boom as money flows into them, but this is rarely the case.
When Bitcoin moves sideways, it will likely:

Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.

To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 


Dogecoin Future Outlook

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the crypto industry. Will DOGE be among that 5 %? 

If we are honest, there is not much going on for Doge aside from this welcoming and ardent community. It is unreasonable to expect a long-term Dogecoin survival if that is the only hinge for the project.

Why will Dogecoin succeed?

Reasons for Dogecoin to go up and rise in price are scarce. It is still one of the favorite jokes around, even Elon Musk joins the fun occasionally but we simply do not see the grounds for Doge long-term success. Its use case is already taken up by bitcoin and other more serious projects. Dogecoin could hibernate its way into the future as a sentimental value that early adopters keep cherishing and using for meme and joke purposes.


Why will Dogecoin fail?

The biggest threat to Dogecoin is one of their biggest advantages: their use case. This is a joke coin – never meant to stay alive this long, nor to reach these market caps and market exposure. Eventually, the joke will stop being funny and the project will get delisted and effectively killed by the exchanges.

Will Dogecoin ever reach $1?

Every option is a possibility but with the different probability of happening. Should bitcoin enter a bull run similar to the one from 2017, Doge can surely climb up to its previous all-time high, but reaching $1 is a holder pipedream and borderline fantasy.