Dogecoin is experiencing a lackluster performance this year as its price failed to breach the $0.2 mark despite repeated attempts. The leading meme currency is attracting heavy bearish sentiments with little to no price spurts in the last seven months. The development is pushing investors away from DOGE as the chances of making big money through it remain extremely slim.
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However, a leading price prediction firm has updated its forecast providing a tentative timeline for when Dogecoin could reach $10. If DOGE hits the price target of $10, present-day investors could turn into multi-millionaires or even billionaires in the future. In this article, we will highlight when DOGE could breach the $10 milestone.
Dogecoin to $10: Here’s the Tentative Timeline
CoinCodex, a leading on-chain metrics and price prediction firm has painted a bullish picture for the future prospects of Dogecoin. According to the price prediction, DOGE could hit the $10 mark only in October 2044. That’s another 20 years from today and is considered a long-term investment.
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For Dogecoin to reach $10, it needs to rise by 8,300% from its current price of $0.12. Therefore, an investment of $10,000 could turn into $840,000 if the forecast turns out to be accurate in 2044.
“Dogecoin would need to gain 7,811.50% to reach $10. According to our Dogecoin prediction algorithm, Dogecoin will hit $10 in October 2044,” read the price prediction. That’s another two decades from today and a long time for investors who want to make quick money.
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The cryptocurrency market is extremely volatile and swings both ways delivering massive profits and losses. Only those who can stomach the losses are advised to take an entry position into the market. Also, there is no guarantee that DOGE could hit $10 in 2044. It is advised to do thorough research and trade at your own risk.