Analysts and forecasters have various views on Dogecoin's price in ten years. Some say that the price of DOGE may increase to $10, While others are much more hopeful predicting that Dogecoin (DOGE) could cross $1 level in ten years.
What will Dogecoin be worth in 10 years? This is one of the most common questions by Dogecoin supporters and investors. Based on most price forecasts, Dogecoin will be worth between $0.50 and $1 in the next 10 years. For instance, according to Coin Price Forecast, DOGE will trade at $0.49 by the end of 2030 and $0.47 by December 2031.
Dogecoin, which is now ranked the tenth-largest cryptocurrency by market cap, has investors asking if it can close the year at $1. Now investors who are looking to bet their money on the meme coin are wondering how much it will be worth in 10 years.
Dogecoin’s nature as a highly volatile asset makes it hard to predict its price that far. The current price swings are testimony to DOGE’s unpredictability. For a cryptocurrency that mostly feeds on hype and speculations, such volatility is neither surprising nor avoidable.
However, most price analysts agree that the altcoin will have significant growth over the course of the coming decade.
So, how much will Dogecoin be worth in 10 years? Let’s look at some predictions below.
Dogecoin Price Predictions for 2030-2031
Dogecoin is currently trading at slightly above $0.15. The coin has been bouncing between $0.15 and $0.21 over the past month and has trouble beating its current ATH of $0.73.
Despite the recent downtrends and consolidations, most experts believe that Dogecoin has a remarkably bright future. Specifically, the asset is expected to have a major growth between 2022 and 2030, with the price and market cap possibly tripling.
So, within a decade, you can expect Dogecoin to be much more valuable than it is now. We have gone through several predictions, and as usual, there are big differences between several price analysts.
A few have updated their predictions to keep up with Dogecoin’s current growth. For instance, Coin Price Forecast initially predicted that the Dogecoin meme-based coin would be worth less than $1 by 2030. The site has since updated its predictions to as high as $0.47 by 2031.
Although there are several other predictions as to what Dogecoin will be worth by 2030 and 2031, most of these predictions are not updated and won’t give your a clear picture. For instance, some sites are still predicting lower than $0.1 by 2030. These predictions were probably made in December 2020 when Dogecoin was still awfully low.
So, since we don’t have enough price forecasts to work with, let us look at some of the factors that will drive Dogecoin’s price in the next 10 years.
Factors that Will Determine the Price of Dogecoin in 10 Years
Dogecoin, like any other cryptocurrency, has some specific factors that drive its price over the course of time. Since Dogecoin is not as visionary as the other coins, there are only a few of these factors, and almost all of them are extrinsic.
The fear of missing out among investors has been largely responsible for Dogecoin’s recent price surge. This is a situation where investors put their money in an asset because they fear that they might miss out on an investment opportunity that could lead to enormous gains in the future.
While FOMO applies to other markets, it is more effective with cryptocurrencies, especially a rapidly growing one like Dogecoin.
According to the World Crypto Index, FOMO is incredibly relevant in the crypto market and has been behind some of the biggest price leaps in cryptocurrency history.
So, if Dogecoin keeps growing, more people will be eager to join, and this will potentially help the crypto grow more. In 10 years, FOMO alone might triple the price of DOGE.
However, for FOMO to be effective, some other factors must come into play.
Let’s look at some of them below.
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2. Celebrity Endorsements
Celebrity endorsement is one of the biggest igniters of FOMO. It is particularly interesting for Dogecoin, which has recently enjoyed some high-profile endorsements.
One of the biggest Dogecoin supporters is Elon Musk.
Elon Musk has been so much into Dogecoin that the coin has to be mentioned in every news article he features. This kind of celebrity support has helped Dogecoin record a plausible growth trajectory over the past months.
The Motley Fool recently revealed that Elon has been closely working with Dogecoin developers since 2019.
If Elon Musk and other ‘Dogecoin Celebritries’ like Mark Cuban and Snoop Dogg keep up their support for DOGE, it might grow significantly over the next decade.
3. Network Upgrades
Although Dogecoin was created as a lighthearted and satirical alternative to Bitcoin, its recent growth is forcing the founders to reconsider their strategy. Already there are plans in the pipeline to introduce radical upgrades to the network, which should make it more alluring as an investable asset.
You might not believe it, but the person behind these upgrades is none other than… Elon Musk.
The Tesla Billionaire recently tweeted that he is working with Dogecoin developers to improve transaction efficiency. Forbes also reported that Musk might have intentionally crashed Bitcoin to make it easier for Dogecoin to ‘beat it hands down”.
Last year Musk announced that his company Telsa will no longer be accepting Bitcoin for car purchases due to environmental concerns associated with Bitcoin mining. A few days later, he proposed a radical network upgrade for Dogecoin that would enable it to dethrone Bitcoin.
If these upgrades make Dogecoin more efficient than Bitcoin, more mainstream investors will take it seriously and eventually boost its value in the next 10 years.
4. Community Support
Dogecoin has a more aggressive social media community than any other cryptocurrency. The community is currently trying to push the coin to $1 by the end of the year, and if they succeed, they could send the coin to over $135 billion market capitalization.
However, as is the case with social media memes, the interest may fizzle out in the long term. However, if this community begins to see their Dogecoin as a viable investment asset, they could drum up their support for the next 10 years, and the coin could be highly valuable by then.
Will Dogecoin Ever Reach $100?
There’s a good probability that Dogecoin will reach $1 or $10 per coin. However, the DOGE altcoin might never get to $100 per coin.
Here is why. Dogecoin is inflationary, which means it does not have a coin cap. About $5 billion coins are added to the network each year, and by, say 2030, there will be 180 billion Dogecoin in circulation.
So, while the market cap will keep rising, the price of Dogecoin might not reach $100. This is because if Dogecoin were to reach $100 by 2030, its market cap would be more than $18 trillion. That is almost equal to US GDP and more than China’s GDP, which would be absurd.
Don't Miss: Dogecoin Price Predictions
Overall, there is a high probability that Dogecoin will be highly valuable in a decade. The predictions mostly range from $0.60 to $0.70, although it could be more or lower depending on how the crypto market plays out.
There are also factors such as FOMO, celebrity endorsements, and network upgrades that play a big role in driving the coins price in the long run. So if you buy now and hold, your investment might more than triple in the next 10 years. However, there is no guarantee of this, and you should never invest more than you can afford to lose.
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