Is everyone focusing on Dogecoin (DOGE)? Want to know if it can soar to $10 next year?

#Who will be the next to rise?

Currently, the price of DOGE is around $0.4. Although it sounds like a joke, the market is really optimistic about it. Some analysts say that DOGE needs to rise by 2233% to reach the $10 threshold.

Analyst Dima James Potts mentioned that in this bull market, DOGE could break $10, and by 2025, it might even reach $24, based on the historical trends of the weekly chart.

Another analyst, Gladiator, believes that DOGE's current trend is quite similar to the last bull market, and in the first quarter of this year, it might rise between $5 and $10.

Analysts from Changelly also stated that in the long run, reaching $10 for DOGE is not a dream. By 2040, the minimum price could be $9.35, the average price $9.84, and the maximum could even touch $11.19. The AI ChatGPT also predicted that as long as more people use DOGE and it rises alongside Bitcoin and Ethereum, breaking $10 before 2030 is possible.

However, analyst Ali Martinez also reminded that DOGE must break the peak of the weekly ascending wedge for the $10 target to become more reliable. That said, DOGE's inflation issue is significant, with 5 billion new tokens added each year. To reach $10, the market cap needs to be frighteningly high; there are currently 147 billion in circulation, meaning a market cap of $1.47 trillion is required. If the supply rises to 152 billion, then a market cap of $1.52 trillion will be needed.

Still, despite all this, people believe there is a chance for DOGE. Retail and institutional demand are increasing, and Elon Musk is also promoting it. The current price of DOGE is $0.4285, having risen 148.85% in the last 30 days, with a one-day increase of 6.41%. Let's wait and see!

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