Most Dogecoin investors are waiting for the meme currency to breach the $1 mark. DOGE hit an all-time high of $0.73 in May 2021 when Elon Musk was featured on the Saturday Night Live (SNL) show titled The Dogefather.
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Dogecoin’s Journey And Elon Musk’s Influence
The show was the biggest promotional factor for the meme currency, making it reach all corners of the world. The Tesla CEO recently walked down memory lane, reminiscing his time filming the SNL show. Read here to know what Elon Musk said today about pushing Dogecoin on the SNL.
Despite multiple efforts from Musk, Dogecoin failed to climb above the $1 level. DOGE began dipping the same day Musk was featured on SNL, never to return to its previous glory.
The meme currency has dipped nearly 85% since the SNL show and is attracting bearish sentiments. It experienced just a handful of price spurts in three years but quickly headed south the next day.
Now that DOGE is under the bearish spell, can it break free from the clutches and rally in the coming years? In this article, we will highlight a price prediction on when Dogecoin could surge in price and reach a target of $10.
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Dogecoin: When Will DOGE Hit $10?
Leading On-Chain Metrics And Predictions
Leading on-chain metrics and price prediction firm Telegaon has predicted Dogecoin could reach close to $10 in 2035. That’s another 11 years from today, and it is considered a long-term investment. Only traders who can endure the whips and lashes of the cryptocurrency markets can hold on until 2035.
Price Forecast For 2030
According to the price prediction, Dogecoin could reach a maximum high of $9.34 in 2030. The average price the meme currency could trade is around $8.75, read the forecast. DOGE is currently trading at the $0.1 mark.
It needs to rise by approximately 9,300% from its current price of $0.1. Therefore, if the forecast is accurate in 2035, an investment of $1,000 could turn into $94,000.
Market Volatility And Risks
Nonetheless, the cryptocurrency market is highly volatile and moves with the global economy. A financial downturn could send Dogecoin prices tumbling in the charts.
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There is no guarantee that DOGE could hit $10 by 2035. Conduct thorough research before taking an entry position in the meme currency.
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