Dogecoin is currently trading around the $0.17 mark and is up nearly 75% in the last 365 trading days. The leading meme coin rallied hard in February and March as Bitcoin hit a new all-time high of $73,737 during mid-March. DOGE reached a high of $0.21 during the rally which was kick-started weeks before the Bitcoin halving event.
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Several cryptocurrencies, including Dogecoin, are predicted to spike in price in the days leading up to the Bitcoin halving. For the uninitiated, the event will cut BTC’s supply in half making the cryptocurrency scarcely available in the markets. While BTC has demand and less supply, its price will steadily scale up in the charts. The Bitcoin halving event is scheduled to take place on April 21, 2024.
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Dogecoin: New Prediction Claims DOGE Could Reach a Price Point of $2 to $3
A new price prediction from Coinpedia estimates that Dogecoin could trade between $2 to $3 by the end of the decade in 2030. That’s another six years from today and a much longer wait for investors of the meme coin. It would be a spike of approximately 1,200% from today till 2030 if the prediction turns accurate.
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Therefore, an investment of $10,000 done today could turn into $130,000 if the prediction turns right. Nonetheless, there is no guarantee that Dogecoin could breach the $2 or $3 mark sometime in 2030.
The cryptocurrency market is highly volatile and cuts both ways delivering losses to investors. It is advised to do thorough research before taking an entry position into Dogecoin and trade at your own risk.
At press time, Dogecoin was trading at $0.17 and is down nearly 6.5% in the 24-hours day trade. DOGE is also down close to 77% from its all-time high of $0.73, which it reached in May 2021.