Can DOGE Reach $100 In The Next 10 Years?

On Sep 24, 2024

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.

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Dogecoin’s Recent Performance And Market Sentiment

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

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.

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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.