Dogecoin is currently trading at $0.39 on Wednesday, having reached a monthly high of $0.46 in November last year. Its price is facing a minor correction due to the ongoing market downturn. Investors believe that Dogecoin may cross the $1 mark this time as the market is ready for a bull run. Tesla CEO Elon Musk is promoting Dogecoin to the White House and may increase its price on the charts.
However, the latest revised price prediction suggests that Dogecoin could reach the $0.98 mark. This is 2 cents away from reaching the target of $1. In this article, we will focus on the tentative timeline of when Dogecoin might reach the $0.98 mark.
Dogecoin: When Will Dogecoin Reach the $0.98 Mark?
Finder's panel of experts predicts that Dogecoin will reach a price of $0.98 in 2030. That's nearly five to six years from today, making it a good long-term holding. That's an increase from the current price of $0.39, and a return on investment (ROI) of about 150%. So if the predictions are accurate, a $1,000 investment could turn into $2,500 in the next five years.
“I think Dogecoin will show some correlation with BTC and will grow accordingly as capital flows into the crypto market,” said an expert from the Finder group. “In the long run, growth will slow due to its unlimited supply and lack of use cases,” the forecast reads.
A lot of the success of Dogecoin has to do with Elon Musk, as he is the main supporter of this meme coin. He has proudly declared Dogecoin to be the "people's currency" and plans to send a rocket called DOGE-1 into space. If Musk accepted Dogecoin as an official payment method for X and Tesla, its price would likely surge and reach new heights. However, although Musk is a firm believer in Dogecoin, he has not adopted it as an official payment method for purchasing his products.
