Dogecoin: Can DOGE Reach $100 In The Next 10 Years?

The first meme coin, Dogecoin (DOGE), was once the most popular asset. Much of its popularity came from consistent endorsements from Elon Musk. Despite this, $1 seemed a massive task for the asset. The highest that DOGE has surged to is $0.7376.

While several have been exiting the meme coin market due to its lack of utility, slow price movements, and Musk’s failing effect, others were looking at long-term benefits.

Also Read: MEW and Popcat Surge: Meme Coins Defying Market Trends!

Dogecoin’s Recent Performance And Market Sentiment

Source

The past 12 months have been eventful for the meme coin. DOGE has soared by nearly 80% during this time. The asset was trading at $0.1086 at press time, with a 1.43% increase over the past 24 hours. Dogecoin seemed to be performing reasonably well compared to the other assets in the market. DOGE witnessed a 7% spike in the previous week.

Market Sentiment

Source

The market did not seem very confident about DOGE, either. According to data from CoinGlass, Dogecoin’s Long/Short Ratio was inclined toward the bearish side rather than the bullish. 52% were short bets, and only 47% were longs.

Also Read: Cardano: ADA Rallies 9%: Can It Hit $0.50 This Week?

Dogecoin Price Prediction

Despite the current bearish sentiment, a lot can change over the decade. It should be noted that DOGE is currently trading 85% below its all-time high. The asset must witness a 91,981.03% spike to hit $100. While it may seem unrealistic at the moment, DOGE fans are confident.

Future Price Predictions

According to Changelly, DOGE will be able to hit the $1 level only in 2029. In 2034, which is 10 years from now, Dogecoin will reportedly trade at around the $10 range. Changelly revealed that in 2023, DOGE will rise to a maximum price of $5.17.

Source

Also Read: El Salvador: Only 1.1% of Remittances Involve Bitcoin & Cryptocurrency

  • crypto
  • cryptocurrency
  • Dogecoin

Comments

Post a Comment

Popular posts from this blog

Aave community proposes suspending Fantom-based integration

Image
The past month has seen a series of hacks in the crypto sector. The latest hack was on hardware wallets, where 15,000 Solana wallets were affected, resulting in a loss of around $4.6 million. Aave proposal removes Fantom integration One of the most persistent hacks in the crypto space is on DeFi bridges. Bridges are an essential infrastructure that allows users to transfer funds between blockchains. For example, the native assets on one network like Avalanche can exist on another like Harmony without needing a bridge. Given this large amount of money stolen from these blockchain bridges, one DeFi protocol is taking steps to lower the risks from the sector. A recent proposal on the Aave protocol suggested that the community suspends all Fantom-based integration. Buy Aave Now Your capital is at risk. The proposal from the Aave community says that halting Fantom integration would protect users by suspending the ability to deposit and borrow assets through the Aave V3 market...
Read more

Canadian crypto traders will have a harder time using leveraged bets

Image
Join Our Telegram channel to stay up to date on breaking news coverage Canadian umbrella financial regulator, the CSA (Canadian Securities Administrators) recently decided to create a new set of rules for crypto exchanges operating in the country, according to two unnamed sources familiar with the matter. Among the new changes is apparently the rule that all crypto trading platforms that wish to operate in the country must be registered, and everyone seeking registration must sign undertakings to comply with investor protections. The CSA (Canadian Securities Administrators) declined to reveal any details, saying it would do so "in the near future.” — DustyBC Crypto (@TheDustyBC) February 17, 2023 However, this is not the end of it, as the rules will also severely affect retail investors who wish to trade crypto currencies using leveraged bets. The CSA plan is to increase its oversight of crypto exchanges that operate in Canada. This will mean tighter rules whi...
Read more

Astar launches NFT campaign to celebrate mainnet launch

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Astar Network, a Polkadot parachain, has announced an NFT campaign to celebrate the mainnet release of Astar zkEVM, an Ethereum layer-2 chain powered by Polygon technology. Astar’s NFT campaign The Astar Network’s NFT campaign, scheduled for Q1 2024, aims to celebrate the launch of the Astar zkEVM mainnet, which was built utilizing the Polygon Chain Development Kit (CDK). The campaign draws inspiration from Astar Network’s Japanese roots by using the popular Japanese capsule machines and mechanisms to award random prizes. You might also like: Astar Network launches zKatana layer-2 scaling solution on public testnet To participate in this campaign , users are encouraged to explore the projects available on Astar zkEVM. The platform offers on-chain and off-chain quests, which users can complete to earn re...
Read more