Dogecoin Price Prediction 2019 — Is Long-Term Growth Possible?

  • Eric Croix
    📚 WikiCoin

    Everyone loves DOGE, but memes are only a part of the big picture. It’s an interesting play from an investor's view. Check out our price prediction for Dogecoin in 2019

Dogecoin Price Prediction 2019 — Is Long-Term Growth Possible?
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Such crypto! Dogecoin was born from a meme first introduced by Shiba Inu. A funny and cute dog touched the hearts of people on the internet so much, that some of them decided to make a currency devoted to it.

Don’t be deceived by the coin’s image. Although it may look like a joke (and initially it was one), Dogecoin is very popular and has one of the most active and supportive communities around it. The user base is one of DOGE’s strongest points and the major driver of growth. People love DOGE and are ready to buy it. Moreover, in some cases, it’s a charity thing. We should also point out that Elon Musk has recently become DOGE CEO, much wow!

DOGE presents a unique blend of value and entertainment, so it looks appealing from an investor’s perspective. Unlike crypto enthusiasts, regular folks don’t know and don’t care about complex tech. However, they are always up for some humor and fun, which may increase the demand times. This is what we will be looking for in today’s analysis. Let’s roll!

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Short-term technical analysis of Dogecoin (DOGE)

Like the whole market around it, DOGE severely suffered from the crypto winter. After the recent outbreak on April 4, 2019, the price seems to be back for retesting the previous zone of resistance. It’s also worth noting that at the time of this review the price moves in a falling wedge, which is a bullish pattern.

Although the price seems to be stabilized at the moment, it may experience further decline to the ~0.0025 USD line before bouncing. This is supported by the stoch RSI, which is in an overbought zone. On the other hand, the price just corrected to the 0.618 level of Fib Retracement, and it signals more confidence on the buying side.


The daily SMA for 50 and 200 days are converging, which may lead to the formation of a golden cross in the near future that would boost the price higher. However, the price is still struggling to go through EMA for 12 days and the EWO is bearish. A major support may be found on EMA for 26 days, which is a current support zone. Stoch RSI just entered the oversold zone, but it may be there for a while. Overall the short-to-mid price perspectives for DOGE do not look very promising. Many sad!


Dogecoin Price Prediction for 2019. Is long-term growth possible?

DOGE is a quick player. Looking at its price history we can point out several times when it suddenly reversed with increased trading volume after a prolonged decline. For instance, that’s how it was in August 2014, summer of 2015, and summer of 2017.

It’s been more than a year since Bitcoin and altcoins set their ATH, and they have been falling down before this April’s bounce. Along with the market, DOGE is trying to recover, but the technicals and the volume aren’t yet there to support the trend. To find out whether another big move is coming for Dogecoin, we need to zoom out and take a look at the entire altcoin market’s performance.

Like the traditional market, the cryptocurrency one moves through the same boom & bust cycles, except for it does it much faster. There’s no surprise in the fact that phases of each cycle are getting longer with the time, as the market becomes bigger, therefore less easy to move. We’ve noticed that after each bubble’s burst the prices in crypto return reset the gains after a so-called ‘dead cat bounce’ before they enter the accumulation phase followed by a new cycle. It’s also worth noting that the last upward trend of 2017 and the beginning of the current one for DOGE has a lot in common. This comes to similarities in Relative Strength Index and timeframes.

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Although timeframes of the crypto bubbles vary, we can make a projection based on historical data. If we divide the DOGE graph into two parts: August 2014 - May 2015 & December 2018 - February 2019, we can find interesting similarities. After a quick rise within one month in both cases, there was an extended meltdown of the price. Hence, we can imply that the price action for DOGE after this February should resemble that of the period after May 2015.

Now, if our projection is correct, we can apply it to DOGE’s price history and calculate its price towards the end of 2019 more precisely. Considering that in August 2018 DOGE went as high as ~2.5x from its previous low, we can assume that we should see at least ~2.5x increase by December 2019, which is roughly 0.7 cents. Moreover, around September 2019 the price should establish a new ATH at about 5.5 cents considering the ratios.


Does DOGE have anything except for the technicals?

This wouldn’t be a case with other projects out there with their whitepapers and teams. DOGE is a different beast (though a very cute one), so many of the investors may even ignore the coin’s fundamentals for the wrong reason.

DOGE has three major fundamental factors that keep it afloat and rising: utility value, exchange value, and brand image. When you come to think about a crypto meme coin, you definitely don’t expect it’s capitalization to be so high that it ranks 25 on the CoinMarketCap out of more than 2000 projects. This reflects that the user base is well developed.

Similar to a plethora of other P2P currencies, DOGE’s intended purpose is to transfer value between people. For example, it was once used for tipping. Another instance would be charity; the first case for DOGE-based donations helped the team from Jamaica take part in the Olympic Games of 2014. Such use cases take the coins out of the circulating supply on the spot market, driving the price up.

DOGE and Jamaican team

In our fast-paced world with clip mindset getting a brand image is crucial for any business. People quickly switch between the products and forget what was there before. Fortunately for Dogecoin, it was initiated exactly because of society’s interest. DOGE doesn’t need a marketing team to promote itself, the memes on the internet are doing it for free every day while rewarding their creators with a sense of fulfillment and joy. It may sound bizarre to some old-school businessmen out there, but in the 21st century, the content matters and viral content pays off huge amounts of money. DOGE nails the concept of virality, which brings it to the ever-spinning circle of marketing that inspires more marketing. As a result, more users are attracted to the coin every day, which is positive for the demand.

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Serious perspectives for a funny coin

To sum up, DOGE is an interesting phenomenon of the young decentralized economy. It displays how something could be valued just because people believe it has value. After all, that’s what we do with fiat currencies.

The correlation of Bitcoin and altcoins on the market is still very high, so in order for DOGE to grow, BTC price needs to be in a certain state. That being said, it looks like the crypto spring is coming and we may see positivity returning to the market. Taking into account our analysis for 2019, you may want to look at DOGE more closely, as the history of its price action shows that it can reward its holders.

Very currency, much coin!

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Is Litecoin a Good Investment in 2019? Is It Safe to Invest in LTC?

Is Litecoin a Good Investment in 2019? Is It Safe to Invest in LTC?
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Each cryptocurrency has its own positive features and unique peculiarities that allow it to develop and grow steadily. Among all representatives of the market, Litecoin stands alone. The project successfully combines the fundamental factors by which it can claim continued growth in the capitalization rating.

The forecast for 2019 clearly indicates that its most important distinctive details will surely help it move forward, imposing serious competition to the rest of altcoins.

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Features and principles of functioning

Appeared in 2011, the project immediately attracted the attention of users. Its creator, Charlie Lee, has focused on protecting his own cryptocurrency from possible future problems. So, unlike its older brother Bitcoin, Litecoin was initially ready for scalability. LTC cryptocurrency is in permanent operation due to a large number of copies of the program, whose source code was published a week before the start of the plan. The client guarantees security, and its new version has SegWit support.

Litecoin is endowed with a whole list of features.

  • Chain of blocks. This allows you to process a much higher volume of transactions compared to its “big brother”, Bitcoin. It is achieved by increasing the frequency of generation of new blocks, which gives a chance to maintain a larger volume of ongoing operations without modification and, if necessary, change it in the future.

  • Wallet encryption. Encryption allows you to protect yourself from fraudsters. Thanks to this feature, you have to enter a password every time a cryptocurrency is spent. The user also has the ability to view the transactions and account balance. Encryption protects against various viruses that can steal a wallet password and coins.

  • Reward. At the moment, miners get 25 coins for each confirmed block. Following statistics, the number of coins is halved every 4 years.

  • Mining. The mining algorithm of Litecoin is similar to the algorithm of the most famous cryptocurrency, Bitcoin. The main difference lies in the intensive exploitation of RAM during the mining of LTC. Therefore, it is advisable to use ordinary computers with GPU instead of machines with a powerful specialized CPU, for which development becomes quite problematic. The maximum supply of coins is 84 million, and this is almost four times the corresponding number of Bitcoin.

It can also be noted that Litecoin is written in the C ++ programming language. Among the supported operating systems are Windows, Mac OS X and Linux, and many others.

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Relationship to Bitcoin

Despite the strikingly close relationship with Bitcoin, which must be taken into account when analyzing the feasibility of investing in Litecoin for 2019, it is worth noting that the distinctive features of cryptocurrency should be its main development. At the same time, the most important unique features are:

  • More organized, centralized money management

  • High transaction speed

  • Low commission for transactions

  • Ease of making transfers

Charlie Lee stressed that it is Litecoin who is obliged to take the place of the currency that the majority of users will use. At the same time, the existing simplicity, speed and availability of transactions should contribute to the achievement of this goal. In this case, the prospects for the growth of crypto-finance will impress even the most optimistic people.

Differences from Bitcoin

Although the Bitcoin code is at the heart of Litecoin, there are still differences, and in some cases significant. One can distinguish the main ones:

  • More efficient use of a computer’s central processor (CPU) than a video card (GPU), which is fundamentally different from the main cryptocurrency.

  • Due to the increased block generation rate, the transaction is rather short-term and takes no more than 150 seconds.

  • The opportunity of mining in wallet in the SOLO mode or a pool.

  • Mining complexity is recalculated much faster than of Bitcoin’s one.

  • The emission is four times the BTC emission and makes up 84 million coins.

Similarities with Bitcoin

On the other hand, there are also some similar features with the main cryptocurrency:

  • Mining is performed in the same way, albeit using different functions.

  • There is no external control due to the decentralized type of network.

  • Both cryptocurrencies have a limited supply of coins.

  • The anonymity of both wallet owners and miners. Complete freedom of disposal of funds on the wallet.

  • A transaction cannot be undone.

Thus, it can be said that differences from Bitcoin make Litecoin a distinctive digital currency capable of expressing itself in the future.

What about disadvantages?

However, negative factors also exist:

  • With the creation of ASIC-miners, it is more difficult for ordinary users to mine cryptocurrency, and power is concentrated in the hands of large companies.

  • The failure of the LitePay service dealt a serious blow to the popularity of the virtual coin. The developers planned to create a system that had different integration with Visa. Despite the active work and the investment of a large amount, the project was not able to start. In the company, no one could explain what the money was spent. The scandal undermined the credibility of the digital coin.

  • Interdictions at the level of state authorities. Many states cannot decide on the status of digital money. Laws are either not released or are in development process. Only a small number of countries have completely legalized cryptocurrencies.

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How to invest in Litecoin

The easiest answer is to do it through exchanges.

Most investors and traders purchase Litecoin for US dollars or BTC (Bitcoin). Since different trading platforms have different trading or purchasing power, be sure to check whether your exchange supports transactions in US dollars or BTC for LTC.

LTC logo
‘Litecoin with man using a tablet computer‘ Image by 123rf

As a rule, the best option is to use a large trading platform, such as Binance (where you can exchange BTC for LTC) or Coinbase (to use a credit or debit card in US dollars).

However, since the cryptocurrency market is a large and, moreover, unregulated industry, it should not be viewed as the same type of investment opportunity as shares of stocks, bonds, or other securities. In fact, traders and investors should consider lots of factors when investing (especially given the volatility of digital assets in recent months).

Ways to earn Litecoin

Besides investing, there also other options to get LTC:

  • Mining. Litecoin is still in its heyday, as was once Bitcoin. With the help of the computing power of a personal computer, it is still possible to actually generate new coins.

  • Cloud mining. The client rents the computing power that Litecoin uses to generate the coins. However, this is a controversial decision. After all, this practice means that landlords of personal computers get more profit than the mining of Litecoin itself.

  • Litecoin cranes. Cranes are advertising sites where a user must enter a captcha and receive a small amount. It is difficult to call it a serious earning as for the whole day you can get only a couple of dollars at best.

Comparing all options, we can say that active mining remains the main method of obtaining LTC.

Technical analysis features for 2019

Since the bottom of Litecoin marked by Charlie Lee has already been passed, you can pay attention to the prospects for further development of the project. As of April 17, 2019, the cryptocurrency chart looks the following way:

 Litecoin chart
Image by Tradingview

It is important to pay attention to the level of $80 – it can be considered as an important support zone, consolidating at which can open the way to growth. Given the damage caused by the protracted fall, it is crucial to clarify that before the beginning of the active growth phase Litecoin should (just like other representatives of the cryptocurrency market), go through the recovery stage. As a rule, it is expressed in a prolonged neutral-positive movement.

The first half of 2019, in the wake of the shocks experienced by market participants, may become a consolidation period. The transition to the bullish movement can be supported by plans of entering the industry of Bitcoin ETF, the opening of the Bakkt platform and a number of other events that can attract serious investment flows.

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Selling coins for the community’s benefit

Charlie Lee, the creator of Litecoin, sold all his LTC to avoid accusations about the impact on the rate of the coin. This action was intended to make Litecoin an even more decentralized currency. And, despite the fact that after the sale of coins, the Litecoin exchange rate fell, in the long term, such a decision by the creator of cryptocurrency can bring him multiple benefits.

“For a currency to really be … a worldwide decentralized currency, you can’t have … a real leader who’s trying to control things, so to make it more decentralized, eventually I would step away,” said Charlie Lee.

Litecoin showed its record maximum at the moment in December 2017, when one coin cost $374. After its creator sold all of its assets, the price of the altcoin plummeted, and Lee was subjected to unflattering criticism from users. Many experts also called this move frankly unsuccessful. However, such an ambiguous act can really become the basis for creating the most decentralized digital currency.

In any case, this suggests that Litecoin has a strong developer, strategist, and leader who has a clear motivation and strategy for action. Charlie Lee is engaged in the development of his project, regardless of the value of the currency, and it definitely has a good effect on loyalty to its product from users.

Litecoin forecast for 2019: What analysts say

In the first six weeks of 2019, LTC’s rate went up to a new high, where it is currently trading at around $79.

From August 8, the miners' remuneration will fall from 25 to 12.5 LTC. The reduction in mining income will lead to a weakening of interest in mining of the cryptocurrency. In this situation, the fall in the supply of coins is expected to be approximately double.

According to analysts, the rate of LTC will rise approximately until the beginning of August, when the project will reduce the reward for the mining of coins. At the moment, the cryptocurrency is in 6th place in the rating of the largest digital assets – its rate exceeds $75 with a market capitalization slightly above $ 4.8 billion.

Tom Lee, CEO of Fundstrat Global, is confident that by the end of the year, the rate of the coin may grow by 640%.

Forbes logo
‘Forbes website homepage‘ Image by 123rf

Forbes analyst Billy Bambro said that the 6th largest market capitalization of Litecoin cryptocurrency (LTC) will be ahead of XRP by the end of the year and will take 3rd place.

Although cryptocurrency prices are still far from its previous highs, LTC has managed to double its rate since the beginning of 2019.

Bambro believes LTC pricing is a response to the active efforts of the Litecoin Foundation and developers to improve coin security and privacy, in addition to choosing several well-known partners.

The eToro analyst team, led by Mati Greenspan, conducted a serious study of Litecoin. According to its report, the current cost of LTC is significantly underestimated.

The experts note that Litecoin has good network scalability compared to Bitcoin, fast and low-cost transactions and ongoing technological improvements by the Charlie Lee team: atomic swap, Lightning Network, SegWit.

Thus, when making an analytical forecast for Litecoin for 2019, experts take into account all the factors that contribute and increase the popularity of a crypto asset in the future, and also expand its attractiveness in the eyes of investors and the public.

These include:

  • Litecoin functionality → recognition of real practical use

  • Litecoin's technical superiority → faster transaction speed, lower cost, and easy scalability using Segwit and Lightning Network technologies

  • Litecoin decentralization and representativeness → high user confidence and excellent online rating

Among the factors that led to the growth of Litecoin are Microsoft’s plans to create a platform for decentralized processing and storage of digital identification data based on blockchain technology. And Litecoin has become one of those ecosystems that the company considers potentially suitable as the basis of this large-scale project.

These and other advantages of the Litecoin network find a positive response in Litecoin’s forecasts for 2019, and analysts predict a permanent increase in the price of  the cryptocurrency in the May-July period.

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So, what is the decision?

Over the years, Litecoin consistently follows Bitcoin, keeping a little distance from it. The stability of the project is complemented by an important advantage – the coin appeared much earlier than other coins in the capitalization rating. The presence of history allows you to create a “safety cushion” in the form of trust, which is still rare on the cryptocurrency market. Accordingly, Litecoin may well be considered as a good option for investment.

All in all, Litecoin is worth investing in. The top management of the project is actively working on improvements that allow maintaining high positions of “digital silver” in the capitalization rating. In addition, it is likely that in the near future the bear market will completely end, passing the green light to the bulls. This makes investing in the cryptocurrency promising.

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