There are many rags-to-riches tales in the cryptocurrency space. One such project is Dogecoin (DOGE), the original memecoin, which has made a number of investors into multi-millionaires. DOGE witnessed a meteoric rally in 2021 when the asset hit an all-time high. Early investors made millions of dollars in profit, while others wonder if the DOGE ship has sailed.
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If you buy $1000 worth of DOGE today, you will receive about 10000 tokens. For 10000 DOGE tokens to be worth $1 million, the price of each token has to hit $100. For DOGE to hit $100, it has to rally about 99900% from current price levels.
Can Dogecoin hit $100 by 2028?
According to Changelly, DOGE will hit a maximum price of $0.749 in 2028. The $1000 investment would become $7,490. This is still a healthy return, although far lower than the $1 million target.
Changelly analysts do not anticipate Dogecoin to breach the $100 mark till at least February 2050, about 26 years from now.
Telegaon presents an even more bearish outlook for DOGE. The platform predicts DOGE to hit a maximum price of $2.12 in 2028 and a maximum price of $30.12 in 2050. Hitting $2.12 would lead to the $1000 investment becoming $21,200.
Also Read: Dogecoin: Can $1000 Worth Of DOGE Become $1 Million in 2030?
Elon Musk is one of the biggest Dogecoin supporters in the world. Musk has expressed his desire to enable DOGE payments for Tesla vehicles. The company already accepts DOGE for its merchandise. Enabling DOGE payments for Tesla vehicles could lead to a massive rise in the asset’s adoption.
There is also a lot of talk about DOGE being a part of X’s payment feature. As of 2023, X had 556 million active monthly users. If DOGE is accepted as payment on X, it could lead to a massive surge in the asset’s adoption and price.