DOGE: Will $1,000 in Dogecoin Become $1 Million by 2028?
There are many rags-to-riches stories in the cryptocurrency space. One such project is Dogecoin (DOGE), the original memecoin that made many investors multimillionaires. In 2021, DOGE experienced a meteoric rise to record highs. Early investors made millions of dollars in profits, while others wondered if the DOGE ship had sailed.
If you buy $1,000 worth of DOGE today, you will get about 10,000 tokens. For 10,000 DOGE tokens to be worth $1 million, the price of each token must reach $100. For DOGE to reach $100, it must rise by about 99,900% from its current price level.
The price of DOGE will reach a maximum of $0.749 in 2028. A $1,000 investment will turn into $7,490. That’s still a healthy return, albeit well below the $1 million target.
Changelly analysts don’t expect Dogecoin to break the $100 mark until at least February 2050, about 26 years from now.
Telegaon is even more pessimistic about DOGE’s prospects. The platform predicts DOGE will reach a peak price of $2.12 in 2028 and $30.12 in 2050. Hitting $2.12 would result in a $1,000 investment turning into $21,200.
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There’s also a lot of talk about DOGE becoming part of X’s payment functionality. As of 2023, X has 556 million monthly active users. If DOGE is accepted as a payment method on X, it could lead to a major surge in the asset’s adoption and price.
