Dogs of Elon (DOE) is a meme cryptocurrency loosely based on tokens like Dogecoin and Shiba Inu. It draws on Elon Musk’s support for Dogecoin as inspiration and includes a collection of 10,000 unique doge NFTs. Dogs of Elon has built a new decentralized autonomous organization (DAO) and has plans to launch its own NFT marketplace.
So, is Dogs of Elon a worthy investment? In our Dogs of Elon price prediction, we’ll examine this coin’s potential and analyze what the value of DOE could be in 2023, 2025, and beyond.
Dogs of Elon Coin Price History
Dogs of Elon held its crypto ICO in November 2021, launching on several decentralized exchanges at a price of $0.15 per DOE token. The coin’s launch was highly anticipated and DOE quickly gained traction. Within a week of launching, the DOE coin reached its all-time high of $0.741 – a gain of more than 4,000% for investors who bought this token during the ICO.
Unfortunately for Dogs of Elon, the coin’s launch coincided with the high tide of the crypto market. Dogs of Elon dropped sharply in the weeks after its all-time high, falling to $0.10 per DOE by December 1, 2021. As the crypto winter set in, Dogs of Elon has increasingly been avoided by investors as too high risk.
And that risk aversion can be seen clearly in the price charts Dogs for Elon hasn’t had a good run in 2022, and its run in 2023 doesn’t inspire any confidence. The token is opened in 2023 at a low value which has dropped further to $0.00013. However, the token has dropped from the radar since then as it is untracked by CoinMarketCap
Dogs of Elon Crypto Price Prediction 2023
Going into 2023, things were looking a little brighter for Dogs of Elon. The project was planning to launch its own NFT marketplace, which would allow Dogs of Elon NFTs to be bought and sold in DOE without fees. Such a marketplace could have significantly increased demand for $DOE, although the massive outstanding supply of the coin would have likely prevented the price from shooting up as much as it otherwise might.
Dogs of Elon is also working on 2 play-to-earn crypto games. These games will presumably offer DOE as a rewards token, increasing the utility of DOE and further decentralizing ownership over the DAO. Play-to-earn crypto games could also drive demand for Dogs of Elon NFTs since players will be able to use these NFTs as avatars within the games. If Dogs of Elon’s NFT marketplace is up and running, this additional demand will be funneled through DOE tokens.
However, these developments seemingly had no positive impact on Dogs of Elon. The token entered 2023 at a low point already, and it wasn’t able to capitalize on Bitcoin’s resurgence. The recent regulatory issues also have curbed Dogs of Elon’s climb on the price charts. Having entered 2023 at $0.014, DOE’s price is now around $0.00013. It would be a surprise if the token managed to get past the $0.0002 mark by the end of 2023.
Dogs of Elon Coin Price Prediction 2025-30 Prediction
Looking over the long term, we’re more optimistic about the Dogs of Elon project. By 2025, Dogs of Elon should have a highly decentralized crypto DAO project, 2 or more play-to-earn crypto games, and an NFT marketplace. The team behind Dogs of Elon has also hinted at creating a metaverse for the project, which could help the community continue to grow and evolve over time.
The biggest uncertainty around Dogs of Elon in a few years’ time is how popular the doge meme – and Elon Musk’s involvement in promoting it – will be. Meme coins can go out of style for years at a time, and there is a strong risk that crypto investors simply lose interest in Dogs of Elon and move on to the next big thing.
Because of this, we have a wide range of uncertainty in our Dogs of Elon price prediction for 2025. We suggest an average price of $0.055 per token, but it is possible that DOE will drop back to its current price levels below $0.020 per token. It is also possible that Dogs of Elon’s crypto games and metaverse become lasting hits and that the coin is worth significantly more.
It’s even more difficult to make a DOE price prediction for 2030 or beyond. The project’s existing plans may take until 2023-2025 to complete, but there are no concrete plans from the community for how the coin will be developed beyond that time. It is also unclear whether the NFT market will keep the same shape it has now, or whether a new class of digital assets might supplant NFTs by 2030.
Given this, we suggest a Dogs of Elon price of $0.075 for 2030. However, this prediction comes with a very high level of uncertainty and should be approached with caution.
We’ve also written an in-depth guide about another meme coin, Wownero. Read all the details in our Wownero price prediction for 2022 to 2025 guide.
Potential Highs & Lows of Dogs of Elon Coin
We believe that Dogs of Elon is likely to experience a large degree of volatility in the years ahead and possibly become the most volatile crypto to buy. The coin could see significant spikes in price around the release of its play-to-earn crypto games, NFT marketplace, and metaverse platform. These spikes could be followed by steep corrections as coins from the available supply flood into the platform and speculative investors run for the exits.
So, investors should be aware not only of our average price predictions for DOE, but also the potential highs and lows the coin may reach. We think that DOE has already tested its low in 2022 and our Dogs of Elon coin price prediction of $0.020 represents the potential high for this year. In 2023, our prediction of $0.030 represents the average price of the coin – the high following the release of a P2E game may be up to $0.070 and the low in the ensuing crash may reach as low as $0.015.
There is a lot more uncertainty in our price predictions for 2024 and 2025. Accordingly, the potential high and low are spread much more widely around our average price predictions. Approach these lows and highs with caution, as major changes in the market for NFTs or play-to-earn crypto games could have a significant impact on DOE’s value.
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What is the Dogs of Elon Coin Used For?
The Dogs of Elon coin has a wide variety of current and planned uses. Let’s take a closer look at what investors can do with DOE.
Right now, the primary purpose of the Dogs of Elon coin is as a governance token for the project. Dogs of Elon recently launched its DAO, putting control over the future of the project in the hands of the DOE stakeholder community.
Dogs of Elon isn’t fully decentralized yet since the development team still holds the lion’s share of coins. However, this is a major step in the direction of decentralization. Token holders will eventually be in control of all of Dogs of Elon’s smart contracts and will have the ability to make new proposals and vote on them.
One of the most exciting developments that Dogs of Elon is working on is an NFT marketplace. This marketplace will serve as the official home of the Dogs of Elon NFT collection, which includes 10,000 unique NFTs.
Right now, investors need to buy these NFTs on NFT marketplaces such as OpenSea, LooksRare, and NFT Explorer. Once Dogs of Elon’s marketplace is launched, users will be able to buy and sell their Dogs of Elon NFTs within the community with no fees. Importantly, they will also be able to use DOE for payments in this marketplace.
Dogs of Elon is currently working on 2 play-to-earn crypto games that will have doge characters at their center. Eventually, players will also be able to use any Dogs of Elon NFTs they own as avatars within the games.
There are still few details about the gameplay and how the rewards system will work. However, it is likely that rewards will be paid out in DOE tokens and there may be an in-game marketplace where players can spend DOE.
The Dogs of Elon team has also discussed creating a metaverse where players and investors can get together. There are very few details on this metaverse for now and it appears that no development has begun on this project.
Dogs of Elon is an ERC20 token and can be used for crypto staking. Token holders who stake their DOE or Dogs of Elon NFTs can earn crypto interest in DOE. Note that Dogs of Elon warns that interest rates may drop over time as more token holders join the staking pools. The project currently has a total value locked of $2,007,028.34.
What Drives the Price of Dogs of Elon?
The price of Dogs of Elon is largely driven by the interest in this coin. Right now, DOE is just a governance token for a brand new DAO. So, investors are mostly getting in on this cryptocurrency because of a belief that the project is worthwhile and that having a stake in it will be valuable in the future.
The price of Dogs of Elon has been kept low by the fact that the outstanding supply of DOE tokens is so large. That problem should begin to dissipate with more ways to use DOE – like play-to-earn games and the NFT marketplace – are released. In addition, once token holders have full control over the DAO, they could potentially elect to burn some of the existing supply of DOE tokens to support the coin’s price.
Is Dogs of Elon the Best Coin to Buy in 2023?
Dogs of Elon showed a lot of promise when it was introduced. And the community was rooting for it when it introduced the two P2E games. However, recent bearish trends have shown that there are hardly any takers left for it in the market. That alone is enough for us to say that it is not the best coin to buy in 2023.
But if you are looking for good crypto to invest in, there are better Dogs of Elon alternatives in the memecoin niche. Here is one that has gotten the attention of many crypto investors:
Wall Street Memes
There are few tokens that have made as much of an impact recently as Wall Street Memes. Wall Street Memes is a community created by those who became inspired by Wall Street Bets – a group that mobilized traders in 2021 to short-squeeze Gamestop to go against the corporate titans.
The WSM token, according to Wall Street Memes, is a tokenization of that movement. Just like people were able to come together and turn Gamestop stock – a relatively useless asset – into a generator of wealth, Wall Street Memes want to turn memecoins into valuable investment assets.
This token has little utility to speak of, and its main aim seems to be more about empowering the community rather than bestowing a meme asset with utility. However, it has a large social media following. With over 1 million followers across Twitter, Instagram, Discord, and Telegram, Wall Street Memes is already leveraging the power of memes to bring the community together. It has also gotten the attention of Elon Musk a couple of times. These reasons are enough to fuel its value.
Wall Street Memes is currently undergoing a presale, which has already raised more than $6 million. At press time, this token is available for purchase at $0.0286.
Dogs of Elon is a meme cryptocurrency that’s in the process of building a DAO, NFT marketplace, play-to-earn crypto games and more. Our Dogs of Elon price prediction suggests this coin could see growth in the years ahead, although there’s a lot of uncertainty around whether DOE has staying power.
We think WSM could be a better alternative to Dogs of Elon. It has a thriving community, and people are already backing up this asset.
Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
- Experienced NFT Project Founders
- Listed On OKX
- Staking Rewards