Dogecoin reached an all-time high of $0.73 in May 2021 and rapidly decreased in price never returning to its previous glory. DOGE has added an extra zero since then falling below the $0.09 mark. The leading meme currency has managed to save face and is now trading around the $0.12 mark on Thursday. The million-dollar question now on everyone’s mind is whether Dogecoin will ever reach the $1 mark.
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Looking at how Dogecoin is performing lately, investors are losing hope into believing that the $1 price target is a myth. So will the meme currency never hit $1 in our lifetime? In this article, we will highlight when Dogecoin could breach the $1 milestone and make everyone’s dream come true.
Dogecoin: Will DOGE Reach $1?
A majority of price prediction firms have forecasted that Dogecoin might never reach the $1 mark before this decade. However, only one leading price forecasting firm has predicted that DOGE could hit $1 by the end of the decade. Investor blog Gov Capital has provided a tentative timeline on when DOGE might breach the $1 milestone.
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According to the price prediction by Gov Capital, Dogecoin could climb above $1 in 2029. That’s another five years from today and is considered a long-term holding. The price prediction estimates that DOGE’s price will briefly touch $1 in August 2029.
From September 2029 onwards, its maximum trading price could be well above the $1 mark and $1.06 to $1.12. That’s a return on investment (ROI) and an uptick of approximately 800% from its current price of $0.12.
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Therefore, an investment of $1,000 could turn into $9,000 if the price prediction turns out to be accurate. Also, there is no guarantee that Dogecoin will reach $1 in 2029. It is advised to do thorough research before taking an entry position into DOGE as the cryptocurrency market is volatile.