In its ten years of existence, Dogecoin (DOGE) has had considerable success. Early investors made millions of dollars in profit after the asset’s price skyrocketed during the 2021 bull run. The asset has faced a lot of challenges since its 2021 peak. Since reaching its all-time high of $0.7316 in May 2021, DOGE has decreased by more than 83%.
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If you buy $1000 worth of DOGE today, you will receive about 8333.33 tokens. For 8333.33 coins to be worth $1 million, each coin has to be worth around $120. For DOGE to reach $120, its price has to rally by 99,900%.
Can Dogecoin reach $120 by 2030?
Changelly anticipates Dogecoin to trade at a maximum price of $1.66 in 2030, far lower than the $120 target.
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Telegaon presents a more bullish outlook for DOGE in 2030. The platform anticipates the original memecoin to reach a maximum price of $4.06 in 2030. Although reaching $4.06 is a significant price spike, it is still lower than the $120 target.
Rallying by 99,900% is no easy task, but some crypto projects have displayed larger growth percentages in the past. For example, Shiba Inu rallied by many million percent within its first year of launch.
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For Dogecoin to achieve similar growth, certain developments need to take place. Elon Musk, one of the richest people in the world and an avid DOGE supporter, has said that Tesla may soon enable DOGE payments for their vehicles. Musk’s X social media platform is also rumored to include DOGE in its payment feature. Such developments could greatly push DOGE’s price above $100 in the future.