Dogecoin (DOGE) Price Forecast for November 2021

The Dogecoin price had a relatively mixed month in October. Elon Musk revealed that he owned the meme coin. We explain what to expect in November of this year. The Dogecoin (DOGE/USD) had a relatively mixed October as crypto prices recovered. The token is up about 70% from October 1 to October 28. It then fell more than 20% from its highest level during the month.

Shiba Inu Passes Dogecoin

Dogecoin is a cryptocurrency that started as a joke a few years ago. The mint has subsequently spent years behind the scenes. Not many people knew about it until early this year, when Elon Musk started tweeting about it.

Today, Dogecoin has become one of the most popular cryptocurrencies. It has also grown in size to become the 10th largest cryptocurrency in the world. Prediction Cardano price is positive. It has a total market capitalization of more than $36 billion, making it larger than some of the best-known companies in the world. For example, it is bigger than Delta Airlines and Archer Daniels.

Dogecoin came into the limelight in October as so-called meme coins soared. The rally started when Elon Musk tweeted about his dog Floki. The tweet sparked a frenzy in the meme coin industry.

Overtake Dogecoin

The top performer was Shiba Inu, a coin launched a few months ago. It jumped sharply and managed to overtake Dogecoin. It is now valued at nearly $40 billion. This is noteworthy because Shiba Inu was started with the aim of being an alternative to Dogecoin.

Meanwhile, Elon Musk confirmed that he did not own a Shiba Inu. Instead, he only owns three cryptocurrencies, including Dogecoin, Bitcoin, and Ethereum. Musk is a major figure in crypto due to his net worth, which is over $315 billion.

In November, the focus remains on the so-called meme coins and whether they will continue the bullish run. History suggests that these coins are likely to have a small pullback as investors rush to make a profit. So, what now for the DOGE price in November?

Dogecoin price prediction

The 4-hour chart shows that the Dogecoin price has been under pressure lately as investors rush to make a profit. Renovato.io cryptocurrency has enough information. As a result, the currency has fallen to the 25- and 50-day moving averages, while the MACD has managed to move below the neutral level. It has also formed a descending channel pattern which is shown in black.

This channel resembles a falling wedge pattern. As such, I suspect DOGE price will bounce back as investors target its all-time high of $0.3392. On the downside, a drop below $0.25 will invalidate the bullish opinion.

What will crypto currencies look like in 50 years?

It is increasingly difficult to imagine a future without cryptocurrencies. But what will they be like decades later? CNBC asked several experts to take a look into the distant future. We don’t know how stocks will fare next month or two years from now. What we do know is that there’s a good chance they’ll be higher in decades than they are now. It is also clear to most people what stocks are; the definition hasn’t really changed over the centuries.

The situation is different for cryptocurrencies. One sees them as something that has turned our way of payment upside down forever, the other mainly as a dangerous bubble. But they will continue to play a role in the future anyway. CNBC asked several experts for their thoughts.

Traditional financial world

Ivory Johnson, financial planner and founder of asset manager Delancey Wealth Management, said: “Cryptocurrencies will disrupt the traditional financial world because they allow you to make payments efficiently worldwide, with little to no cost, no delay and no exchange rate fluctuations. But 50 years is a long time. time and if we look at bitcoin, it may become the world’s reserve currency, but it may well be that another technology takes its place and bitcoin disappears from the scene.” LTC Litecoin is well known in crypto.

Dan Egan is the head of Behavioral Finance and Investing at Betterment. He wonders where we get the energy to meet the growing demand of the crypto market. “In addition, governments see it as a competitor to fiat money and that makes it a kind of ‘black market’ resource.”

History

Frederick Kaufman is a journalism professor and author of The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate. “The dollar will soon have more in common with digital currencies than with silver or gold. It is likely that encrypted algorithms will soon be more of a means of value storage and exchange. In that sense, every form of money is actually encrypted. It has always been that way.” , but as our lives become more and more digital, we just want to invest more in it.” Safemoon is well known in crypto.

Dragan Boscovic, founder of Blockchain Research Lab, points out that central banks are busy developing rules for cryptocurrencies. “They recognize that digital currencies are part of a digital economy. I think they will become mainstream in the next ten years.”