Dogecoin has reached $0.24 on Tuesday after surging by nearly 14% in a week. Its price stagnated around the $0.20 to $0.21 mark and finally broke out in price in September. Leading on-chain metrics and price prediction firm Changelly has projected that DOGE could kick-start a rally next. The firm remains ambitious on the meme currency and has painted a bullish forecast. Accumulating DOGE now could deliver massive returns if the forecast turns out to be accurate.
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Dogecoin To Breach $1 and Hit $1.73 in 2026: Price Prediction
Telegaon has made an ambitious price prediction, estimating that Dogecoin could reach $1.73 in 2026. The price prediction firm states that DOGE “can surprise its investors” like it did in 2020 to 2021. For the uninitiated, Dogecoin had surged 29,000% between 2020 and May 2021, where it reached its all-time high of $0.73. The rally was mostly fueled by hype after Tesla CEO Elon Musk backed the meme currency.
It went from a low of $0.002 to a high of $0.73 in less than 17 months due to Musk’s involvement. He also hosted the Saturday Night Live (SNL) segment titled The Dogefather, making Dogecoin reach the global mainstream audience. This made the meme currency receive an influx of investments with millions of new traders taking an entry position.
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Coming back to Telegaon’s ambitious price prediction, Dogecoin would need to surge by 620% to reach the target of $1.73. While nothing is impossible in the cryptocurrency market, especially in the meme coin sector, they failed to provide a clear analysis on what would boost DOGE to such a height.
While the prediction is firm, the analysis seems sketchy as the target feels larger-than-life. Nonetheless, it is best to do thorough research before taking an entry position in the cryptocurrency as the meme coin market acts like a double-edged sword that can cut both ways, deeply.