Market Research, Opinions

Dogecoin’s Journey to $1: Hype or Reality?

By Fotis Dixon


Reviewed by: Fotis Dixon


Dogecoin's Journey

Dogecoin, the most popular meme coin, is also the largest meme coin in the world. We can also define Dogecoin as the godfather of all the other meme coins out there.

It was in 2013 that Dogecoin was launched. It was launched as a light-hearted alternative to traditional cryptocurrencies like Bitcoin.

However, the crypto was able to pick up momentum. It was named after the then internet viral meme Doge meme and the creators never expected that the coin would receive such wide acceptance.

Dogecoin's Journey to $1

Within a month of launch, the crypto was able to capture attention from all over the world, and soon things changed. Its creators did not want any controversies associated with it; however, Dogecoin ended up making history.

Multiple times, Dogecoin topped the news headlines. Now the spotlight is on whether Dogecoin would cross the 1 USD threshold. A debate is taking place on this topic.

A big community of crypto traders and analysts think that Dogecoin has the potential to reach 1 USD within a few couple of years. At the same time, there are people who think that they may not reach that mark within a short time.

Let us start by looking at the current price, market cap, and price predictions made for the crypto.

Dogecoin Price Prediction

At the time of writing this article, the price of Dogecoin is 0.162901 US dollars. Over the last 24 hours, there has been a 0.59% value gain and in the last 7 days, there has been a 15.34% value gain.

Dogecoin’s market cap is 23,364,029,525.17 US dollars with a circulating supply of 144,177,816,384 DOGE.

If the crypto continues its current momentum, it may cross the 1 USD threshold before 2028 ends. Our current price predictions for Dogecoin suggest that the highest value it is going to reach in 2024 is 0.149 US dollars,

The highest value of Dogecoin in 2025 is 0.251

The highest value of Dogecoin in 2026 is 0.433

The highest value of Dogecoin in 2027 is 0.643

In August 2028 the Dogecoin may reach 0.979 US dollars and cross 1 US mark by the next months to reach 1.01 US dollars.

The predictions also suggest that by the end of 2030, Dogecoin may surpass the 2 USD threshold as well.

Also, Read: Dogecoin (DOGE) Price Prediction: 2024 To 2030

Can Dogecoin reach $1?

The all-time high value that Dogecoin has ever had is 0.74 US dollars. The current price of DOGE is around 78%. The ATH value was recorded in May 2021. However, Recently crypto has been facing a price hike.

There are 144 billion DOGE tokens in circulation out there. The current market cap of the crypto is 23 billion US dollars. The market cap of the crypto should be raised to 144 billion US dollars to hit the 1 USD.

Note that all this data is based on the live supply of the crypto. It changes every time a new block is mined. When a new block is mined around 10,000 new DOGE enters the market.

DOGE Price Increase

 We have already looked at potential price predictions of crypto. Another group of analysts think that the coin may hit the 1 USD threshold but only by the year 2030.

Based on the current price of DOGE, which is 0.16 US dollars, if there is a 35.72% increase each year, then the crypto may hit $1 by 2030. In that case, there needs to be a total of 525% increase in its price from the live price.

What may potentially influence the price skyrocketing of Dogecoin?

We may be able to predict the price of the crypto in the coming years. However, it does not take much time for all this to turn around.

There needs to be increased adoption of crypto for payments. Dogecoin can be sued for our day-to-day retail payments and more.

However, the number of people who use DOGE as a payment method is far too low. Also, the number of businesses that accept DOGE is less as well. If the crypto gets endorsed by influencers and more, it may get more popularity and acceptance.

The Bottom Line

Dogecoin can definitely reach the 1 USD mark, but there has to be a long-term bullish run. Is that possible?

Will DOGE be able to overcome its current obstacles and reach up to a point? We will have to wait and see that.

Fotis Dixon

Fotis Dixon is a business expert from the UK. He's written lots of articles about the newest market research and trends, especially on cryptocurrencies. Fotis is good at breaking down different topics to give useful information, helping readers stay updated on emerging trends.

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