Dogecoin (DOGE) had a massive surge in 2024, with a price increase of 426%, but now it has fallen back to a 243% gain. Despite such a crazy rise, we still need to discuss whether Dogecoin can really reach $50 or $100.
To be honest, Dogecoin was originally a joke, created in 2013 just for fun. It doesn't have any particular investment value, lacks a strong development team, and doesn't have a clear growth plan. The price of Dogecoin has risen mainly due to speculation and people's enthusiasm. So, to say it can rise to $50 or $100, the possibility is really slim.
Looking at the numbers again, Dogecoin's market cap is currently about $49 billion. To reach $50 per coin, the market cap would need to increase 149 times, reaching $7.3 trillion! If it were to rise to $100, it would need to increase 299 times, reaching a market cap of $14.7 trillion! This is simply a pipe dream.
Additionally, the competition in the cryptocurrency market is so fierce, many coins are stronger than Dogecoin, with better technology, more professional teams, and clearer use cases. As a result, funds might flow to those more reliable coins, making it even harder for Dogecoin to rise.
Moreover, Dogecoin itself doesn’t have any special investment value; it's just a popular coin. With the rapid development in the cryptocurrency field, investors are certainly more willing to invest in coins that are more valuable and offer higher returns.
Therefore, for Dogecoin to reach $50 or $100, it is simply wishful thinking. To achieve this goal, the market cap would need to increase over 100 times, how is that possible! Based on the current market situation, price predictions for Dogecoin also indicate that it can't rise that high.
