Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Delve into the latest dogecoin price predictions from our panel below. You can also check out our guide to the best crypto exchanges in the UK.
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 panellists 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 panellists think DOGE will be worth $0.266 by the end of 2024 before rising to $0.389 by 2025 and $0.98 by 2030.
Dogecoin (DOGE) price predictions for 2024, 2025 and 2030
On average, our panellists 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 panellists 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."
Is now the time to buy, hold or sell dogecoin (DOGE)?
Almost half of our panellists (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."
What's the biggest challenge that DOGE faces in hitting the $1 mark?
Over one-third (35%) of our panellists 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.
Meet the panel
Finder surveyed 40 fintech specialists in January 2024. Panellists can answer as many or as few questions as they like, meaning the number of responses received varies by question. 19 panellists gave their price prediction for DOGE by year-end 2024, 2025 and 2030. Panellists may own some cryptocurrencies, including DOGE. All prices are listed in USD per DOGE.
Changes to methodology:In 2021, this research was conducted using the simple mean of all answers supplied to Finder. From 2022, we switched to using the truncated mean, with the top and bottom 10% of responses removed to attain a more consistent result. Any 2021 results quoted in this analysis have also been re-calculated using the truncated mean.
*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.
Frank Corva is business-to-business (B2B) correspondent for Bitcoin Magazine and formerly the cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He also taught writing and entertainment business courses in Japan and worked with UNICEF in Namibia before returning to the US to teach at universities in New York City. Earlier in his career, he spent years working as a publicist and graphic designer for record labels like Warner Music Group and Triple Crown Records. During that time, he was also a music journalist whose writing and photography was in published in Alternative Press, Spin and other outlets. See full bio
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