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Is Dogecoin a Good Investment in 2025?

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Camila Karam

Cryptocurrency Editor

Camila Karam

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Camila is a Crypto Editor at Cryptonews, where she crafts research-driven, value-packed evergreen content on cryptocurrencies, exchanges, and other Web3 topics. She is passionate about gathering...

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Last updated:

May 8, 2025

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It’s been over a decade since Dogecoin DOGE -1.16% was launched. The largest meme coin by market capitalization has seen triumphant highs and crashing lows over the years. In 2025, investors still wonder if Dogecoin is a good investment.

We’ll examine a range of metrics, including historical and current price action, expert opinions, and more, to help crypto investors make informed choices about the original meme coin.

Looking Back on Dogecoin as an Investment

Dogecoin was created in 2013, inspired by the popular Shiba Inu meme. Initially, it went unnoticed by investors. In 2018, investors looking for cheap altcoins flocked to Dogecoin. Its market capitalization quickly doubled, reaching over a billion dollars.

In 2021, Elon Musk’s tweets catapulted Dogecoin to fame. Each tweet boosted the cryptocurrency’s value, leading to a new all-time high market cap of around $70 billion in May 2021.

However, Dogecoin’s market cap fell by the end of May 2021. Despite this, Musk’s continued support helped it recover throughout 2022, though it didn’t reach a new ATH.

In 2024, Dogecoin’s value increased again, partly due to Twitter/X’s temporary rebranding with the $DOGE icon. This move fueled rumors that X might accept DOGE, potentially attracting more investors.

Dogecoin remains one of the best cryptos to buy during a crash. Those who invested early in 2021 and cashed out in May of the same year made gains in excess of 13,600%.

Despite the rise of new meme coins, Dogecoin’s strong community will likely prevent it from fading. In fact, $DOGE is highly cyclical; its price movements are often linked to social media activity, and other meme coins’ popularity is unlikely to impact $DOGE significantly.

Dogecoin’s Recent Surge Amid Political News and New Investors

Dogecoin’s price has rallied by over 65% since October, partly driven by positive sentiment around the U.S. presidential elections. Market analysts speculated that a potential Trump victory would result in a 30% additional gain for DOGE, fueled by optimism around pro-crypto policy expectations.

On-chain data has shown a 100% spike in new DOGE addresses as more investors allocate funds toward the token, indicating strong buy momentum. Meanwhile, Dogecoin’s market cap surpassed $41 billion, briefly positioning it as the sixth-largest cryptocurrency.

With these factors and technical indicators pointing to a continued bullish trend, analysts expect DOGE could reach as high as $0.30 in the coming months if it breaks past the $0.23 resistance level.

Dogecoin Price History Timeline

Understanding Dogecoin’s price history is crucial for evaluating whether It is a good investment in 2025. By examining its past performance, investors can identify the factors driving its value and better predict future trends.

Dogecoin Price History: 2013 to 2020

December 2013: Software engineers Billy Markus and Jackson Palmer created Dogecoin as a joke. Despite its humorous origins, it quickly gains a following due to its friendly Shiba Inu dog mascot and active community on platforms like Reddit.
Early 2014: The Dogecoin community rallies behind various charitable causes, including sponsoring the Jamaican bobsled team and funding clean water projects in Kenya. This philanthropic aspect adds to its appeal and helps drive its popularity.
Late 2017—Early 2018: During the cryptocurrency boom, Dogecoin experienced a surge in value alongside other digital currencies. Its price skyrocketed, reaching an all-time high in January 2018. This rise was largely driven by speculative trading and the overall hype surrounding cryptocurrencies at the time.
2018—2020: Dogecoin’s price stabilizes and experiences periods of relative calm. It remains popular within the crypto community and retains a loyal following, but its value doesn’t see significant growth compared to its peak in 2018.

Dogecoin Price History: 2021 to 2023

Early 2021: Dogecoin experiences renewed attention and a massive price surge, partly fueled by social media buzz generated by influencers and celebrities like Elon Musk tweeting about it. The meme cryptocurrency gains mainstream recognition and sees dramatic price fluctuations.
April 2021: Dogecoin reached an all-time high following Elon Musk’s appearance on Saturday Night Live (SNL), during which he mentioned Dogecoin multiple times. However, the price subsequently experienced a sharp decline as the hype subsided and investors began to sell off their holdings.
Mid-2021 – Early 2022: Dogecoin’s price fluctuates, but it gradually loses momentum and declines as the initial excitement wanes. Without any significant developments or fundamental changes to the project, interest in Dogecoin diminishes, and its price reflects this downward trend.
Mid to Late 2023: Elon Musk rebranded Twitter’s official logo with a Shiba Inu, which drew more interest in DOGE and drove its price past $0.1. However, the Twitter rebrand only persisted for a few days, leading Dogecoin to drop below $0.06 and land around $0.08 by mid-November 2023.

Dogecoin Price History: 2024 to 2025

Early 2024: Despite growing to over $0.10 by mid-December 2023, $DOGE mostly kept around $0.08 until the end of February 2024. This year’s meme coin frenzy bolstered Dogecoin’s performance — it went from $0.089 on February 27 to $0.22 by March 29.
April 2024: By mid-April 2024, the meme coin sector, including Dogecoin, experienced a pre-halving correction, similar to previous trends before Bitcoin halvings. Steno Research predicts prolonged selling pressure for up to four months post-2024 Bitcoin halving, affecting meme coins.
May 2024: Kabosu, the Shiba Inu behind Dogecoin, passed away on May 24 at around 18 years old. Decreased $DOGE futures OI and funding rates indicate bearish sentiment. Whale selling activity increased, suggesting institutional investors are cashing in on profits, reinforcing the bearish trend.
June 2024: DOGE’s surge is part of a broader uptrend in meme coins. This rise is backed by increasing trader sentiment and whale activity. On June 19, Santiment’s analysis of the 30-day MVRV ratio found $DOGE to be “very bullish,” with an MVRV of -16.7%, indicating potential for a short-term price rise.
August 2024: Dogecoin’s price experienced significant fluctuations, ultimately stabilizing around $0.10 by the end of the month. The influence of high-profile figures, particularly Elon Musk, continues to play a role in Dogecoin’s market dynamics.
October 2024: Dogecoin’s price surged 65%, fueled by increased trading volume and anticipation of political developments, positioning it as one of the month’s top-performing cryptocurrencies.
November 2024: Following Trump’s election win, Dogecoin rallied further as Elon Musk proposed a new “Department of Government Efficiency” (DOGE). This sparked speculation of favorable crypto policies, driving strong buy momentum.
December 2024: Frankenmuth Credit Union expanded its cryptocurrency offerings to include Dogecoin, Litecoin, Bitcoin Cash, and XRP.
January 2025: Grayscale launched its Dogecoin Trust for institutional exposure, and Trump formally established the DOGE agency with Elon Musk named as director.
February 2025: Dogecoin dropped 39%, while the Dogecoin Foundation’s House of Doge acquired 10M DOGE to support liquidity and long-term payment utility.
March 2025: DOGE rebounded 7% amid easing trade tensions, trading near $0.18; analysts flagged $0.16 as critical technical support for continuation.
Current: With a market cap of $26.20B, DOGE is currently priced at $0.17.

Dogecoin Price Forecast

Dogecoin remains one of the most popular cryptocurrencies, ranking sixth by market cap out of all cryptocurrencies.

Will Dogecoin go up? Here’s a quick look at some Dogecoin price predictions:

Dogecoin Price Forecast 2025

Our Dogecoin price prediction puts DOGE at $0.22 in 2025.
PricePrediction.net believes that DOGE could hit $0.32 in 2025.
Analysts at CoinPriceForcast are bearish, stating that DOGE could be trading at $0.10.
Coinpedia foresees DOGE will be valued between $0.845 and $1.07 by 2025.
Binance Research estimates DOGE could trade between $0.1918 and $0.2448 this year.
Axi analysts project a range of $0.25 to $0.39 for DOGE by year-end.

Dogecoin Price Forecast 2026

We forecast that DOGE will trade at $0.54 in 2026.
Benzinga forecasts DOGE at $0.145 (bearish), $0.183 (average), and $0.249 (bullish) in 2026.
Changelly predicts DOGE’s minimum price will be around $0.5318 and maximum near $0.6291 next year.
CoinCodex forecasts DOGE trading between $0.156 and $0.282, averaging around $0.219.
Coinpedia projects DOGE’s price ranging from $0.80 to $1.30, with an average of approximately $1.05.

Dogecoin Price Forecast 2030

Our analysts predict Dogecoin’s price to hover between $2.08 and $31.28, with an average price of $9.67.
CoinPriceForcast analysts foresee a price of $0.20 at the end of 2030.
In the same year, PricePrediciton.net has forecast an average trading price of $1.69 per DOGE.
Market commentators at DigitalCoinPrice are more conservative and think $DOGE could be trading between $0.53 and $0.58.
Coinpedia and CoinJournal have a more bullish outlook again, predicting it’ll be valued at $2.52-$3.035 and $2.59, respectively.

Investors asking, “Should I sell my Dogecoin?” should remember that Dogecoin price predictions should be taken with a pinch of salt. Compared to stocks, the crypto market is still new and highly speculative.

Note: For more information on Dogecoin’s potential future price, check out our Dogecoin price prediction.

Dogecoin’s Utility: What Does the Future Hold?

Dogecoin started as a joke but is now widely accepted for payments. Major platforms like BitPay and Coinbase support $DOGE transactions, and brands like Tesla, Gamestop, and Gucci accept or have accepted it in the past, enhancing its mainstream utility.

With Elon Musk now appointed to lead the new “Department of Government Efficiency” (DOGE) under Trump’s administration, Dogecoin’s future utility may expand further.

Musk’s influence could fast-track $DOGE’s acceptance in government and increase its role in financial transactions, particularly with Musk pushing for X to become a recognized money service firm.

This development could enable peer-to-peer $DOGE transactions, withdrawals, and even high-yield accounts for X users, integrating Dogecoin into everyday financial activities. With these advances, Dogecoin is positioned for broader utility in both the private and public sectors.

Is Dogecoin a Good Long-Term or Short-Term Investment?

Some market commentators see Dogecoin as more of a short-term speculative asset, whereby investors take advantage of pricing swings. That said, Dogecoin is among the top ten cryptocurrencies, and its widespread adoption is growing rapidly.

As mentioned in our early price predictions, many experts are positive about the future of Dogecoin, which could indicate that it’s a worthy long-term investment. Investors could also consider diversification, only allocating small amounts to each cryptocurrency to spread the risk.

What Experts Say About Investing in Dogecoin

Dogecoin sustained substantial losses during the previous bear market. However, since the start of the current bull market, $DOGE has been experiencing something of a renaissance. It remains one of the top ten crypto assets and has a market capitalization of $26.20B.

Over the last year, the price of DOGE -1.16% increased to $0.17 (+28.19%). But the question remains: Is Dogecoin worth buying?

As mentioned above, analysts and crypto whales are bullish on Dogecoin in the short term. Conversely, the Fear and Greed Index for $DOGE is 88, denoting extreme greed. This means it’s a good time to buy.

Dogecoin’s long-term earning potential also seems relatively positive — Dogecoin isn’t dead yet.

How to Buy Dogecoin — Step-by-Step Guide

If you’re looking to buy Dogecoin quickly, securely, and without relying on a centralized exchange, Best Wallet makes the process seamless. This guide will walk you through each step — from setup to purchase.

Best Wallet is a non-custodial mobile wallet that supports direct fiat purchases and crypto swaps. You’ll maintain full control of your assets while avoiding unnecessary transfer steps and custodial risk.

Step 1: Choose a Crypto Exchange and Wallet

Choosing a secure exchange and wallet protects your DOGE from hacks, theft, and custodial risk.

We’ll use Best Wallet in this guide. It’s non-custodial, lets you buy DOGE directly, and stores it securely without needing a separate exchange or manual transfer.

Visit the Best Wallet website or find it on the Google Play Store for Android devices or the Apple App Store for iOS.

Visit Best Wallet

Step 2: Create and Secure Your Account

After downloading Best Wallet from the official website, App Store, or Google Play, open the app, tap “Get Started,” and follow the on-screen prompts.

Secure your wallet by creating and confirming your passcode. Write it down on paper and store it offline. Do not save it digitally or share it.

Next, enable biometric login and activate two-factor authentication (2FA) for added protection. This ensures full self-custody and reduces the attack surface.

Step 3: Buy DOGE

If you already hold cryptocurrencies such as ETH, USDT, or BNB, you can swap them for DOGE directly within the app. To do so, click the “Swap” tab on the app’s homepage.

Then, select the amount of crypto you want to swap for DOGE, click “Preview Transaction,” and follow the on-screen instructions.

To purchase with fiat currency (e.g., USD or EUR), go to the “Buy” tab to buy DOGE in Best Wallet. You can use a credit/debit card, bank transfer, or third-party provider — just choose DOGE (BSC), click “Buy DOGE,” and follow the prompts.

Note: DOGE is only available on the Binance Smart Chain (BSC) on Best Wallet, not on its native Dogecoin chain.

Step 4: Verify You Received Your Tokens

After confirming your purchase, your DOGE tokens will appear in your Best Wallet once the transaction is processed — usually within minutes. You can track it under the “Assets” tab.

If you used a swap, you can check the transaction status on BscScan via the hash. If it doesn’t show up, refresh the app or manually add the token using the contract address.

Conclusion

Dogecoin continues to defy expectations with its unique blend of meme culture, community strength, and growing utility. While its price remains volatile and heavily sentiment-driven, DOGE has proven resilient through multiple market cycles.

From on-chain adoption and institutional interest to political tailwinds and speculative potential, Dogecoin still commands attention in both short-term trades and long-term strategies.

Whether you’re buying for the memes or the momentum, just be sure to manage risk, stay informed, and — most importantly — keep your DOGE secure.

Buy DOGE using Best Wallet

FAQs

Is Dogecoin still worth investing in 2024?

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References

Twitter makes unexplained logo change to Dogecoin cryptocurrency image (The Guardian)
Bitcoin halving could be a ‘sell-the-news’ event, at least for a few months (Cointelegraph)
Kabosu, side-eyeing Shiba Inu who inspired the ‘doge’ meme, dies at 18 (Washington Post)
Santiment X – 30-day MVRV (@santimentfeed – X)
Will Dogecoin skyrocket 7 months after the Bitcoin halving again? (Cointelegraph)
Deposit & Withdrawal Fee Rates (MEXC)
Dogecoin, memecoins outperform crypto market as Trump wins US election (Cointelegraph)
Dogecoin follows ‘classical charting principle’ which hints at 1,000%+ DOGE rally (Cointelegraph)
What to know about Trump’s Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy (CBS News)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.