Will Dogecoin Ever Trade At $100?

Last Updated August 23rd 2021
3 Min Read

Dogecoin (DOGE) will most likely not hit $100 per coin. However, that is not to say that DOGE is not a good investment.

For starters, there is a very high probability of it hitting $1 this year. That’s a huge profit for someone who invests in Dogecoin today.

Long term, maybe in 5 to 10 years, there is a possibility of Dogecoin trading at $5 to $10 a coin.

But if it can hit $10, why not $20, $50, or even $100? Well, that’s because cryptocurrencies do not operate in a vacuum. They are part of the world economy, and their valuations have to reflect the same.

For context, the U.S is the world’s largest economy, and as of 2021, has a GDP of $20.49 trillion. The second-largest economy at the moment is China and has a GDP of $13 trillion.

This means if Dogecoin were to trade at $100 a coin, it would have a market capitalization that is bigger than the GDP of China and close to that of the U.S.

Such a scenario is unrealistic for two reasons. First, it would mean that most of the world’s money would be flowing into Dogecoin.

Secondly, since Dogecoin is not the world’s largest crypto, it would mean that top cryptos like Bitcoin would be worth more than the entire world economy.

None of this is realistically possible since there is more to the world economy than cryptocurrencies.

As such, a savvy investor should be concerned with profiting from Dogecoin between now and a potential max of $10. In between this range, many factors could realistically lead to parabolic returns for investors.

Read more: Is It Worth Investing In Dogecoin?

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Starting with $1, there are many factors that could push Dogecoin to this price level in the very short term.

The biggest one is the Doge-1 mission. There seems to be a growing excitement around space lately. This is evident in the race to Mars by China, and the U.S. Luxury space travel is becoming a thing too and is attracting lots of media attention.

The Doge-1 mission, Space-X’s mission to the moon, is coming right in the midst of this new space euphoria. The media frenzy it will attract, coupled with the marketing genius of Elon Musk, could see Dogecoin easily blow through $1 in Q1 of 2022.

Going into 2023, Dogecoin adoption could see it test prices of between $5 and $10 by the 2030s.

It stands out as one of the cryptos that could compete with fiat currency and win. That’s because it is inflationary, which means people have the incentive to spend it, just like they do with fiat currency.

Dogecoin is also one of the cheapest cryptos to transact in, and with the updates that Elon Musk suggested, it will only get cheaper. This, coupled with the fact that it is decentralized, means that it can compete effectively with fiat.

As this adoption happens and crypto as a whole gets more adopted, Dogecoin at $10 by the 2030s is entirely possible.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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