Can Dogecoin Reach $100
Billy is the creator of Dogecoin, an open-sourced, peer-to-peer digital currency. The logo of this altcoin is also similar to the Doge meme of a Shiba Inu dog. Dogecoin seems to many to have been created as a joke, but it became one of the most popular cryptocurrencies in the world.
Its underlying technology is derived from a computer program called Litecoin. There is significant merit to Dogecoin’s Blockchain. Dogecoin is mostly popular due to its low price and unlimited supply, but it has many other features that benefit its owners.
Dogecoin lost most of its value after it experienced a bubble burst last year. It has a lot of loyal supporters on social media that still invest in their favorite coin. You can store Dogecoin on the Dogecoin wallet, which is available on most exchanges.
Dogecoin has a market cap of $10,920,043,188 and a price of $0.08 per token. There is a 132,670,764,300 DOGE circulating supply and its 24h trading volume is over $459,170,618.
| Max supply | N/A |
| Total supply | 132,063,646,536 |
| 1-year price low | $0.04972 |
| 1-year price high | $0.2032 |
| Current Price | $0.08259 |
| Market cap | $10,956,443,081 |
| Markets | Binance, Huobi Global, Coinbase |
What Influences DOGE Price?
Demand and Supply
The rule is easy to understand, and anyone interested in cryptocurrencies knows it. If the interest is high but the supply is low, the price will increase. The price will decrease if the interest is low and the supply is plentiful.
Since it was based on a meme, many people took an interest in Doge coin. They invested in this coin to amuse themselves. Serious investors took a liking to the rapidly increasing price once everyone saw it.
News
The price and investor interest are affected by what is happening on social media. The new meme coin was the subject of a lot of discussion when it was first launched. Many people invested in Doge coin because they wanted to be part of the trend as well.
Blind Follow
It’s a tradition for young investors to blindly follow the financial advice of celebrities they look up to. When Musk mentioned his interest in the coin, there was a spike in the price of Dogecoin.
How Much Dogecoin (DOGE) Will Be Worth in 10 Years
The worth of Dogecoin per token will be analyzed over the next ten years. Here’s all you need to know about Dogecoin’s price in the next decade and what factors affect this price.
Dogecoin Price Prediction for the 2030s
Dogecoin’s per token price ATH was $0.73. The token price has been switching between $0.5 and $0.2 for a few months. The experts have predicted that the coin will grow a lot in the next couple of decades.
Can Dogecoin Reach $100?
With Dogecoin’s current growth rate, it will be hard for the coin’s value to reach $100. That’s because there isn’t a lot of money. It would take 180 billion dollars to invest in Doge coin if it increased by $1.
It would take $18 trillion to get Dogecoin to $100 by the year 2030. The world’s GDP is almost $90 trillion. It doesn’t take a market genius to know that Doge coin won’t accumulate 20% of the global GDP in ten years.
Since they are not regulated yet, they might not be able to handle that type of volume. Doge coins can increase in price, but not as high as $100.
The conclusion is that it is impossible to say that the Doge coin will reach $100.
Should I Invest in Dogecoin Right Now?
Dogecoin could reach $1 in the next ten years because it is increasing in price at a good enough rate. It’s a good enough investment, but the decision to invest is a personal one.
Since the coin is highly volatile, there’s no way to predict whether it will go up or down accurately. As long as you are willing to risks, you can invest as much as you want in Dogecoin. Market experts advise against treating this coin as an investment because it is more like a speculative bet.
Summary
Dogecoin reached its all-time high of $0.7 in the year 2022, making it a volatile altcoin. According to experts, there are possibilities for it to reach $1 in ten years, but it’s impossible for it to reach $100. You can invest in Dogecoin at your own discretion on any of the exchanges like Binance, Coinbase, Bithumb, and KuCoin.
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