Will Dogecoin reach $5, $10
|Current Market Cap||$8.6 B||Lower|
|Trading Volume||$137.8 M||Higher|
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||6.8%||Steady|
- Rank: DOGE: 116th, ETH: 1st
- Last 7 days change: DOGE: +16.4%, ETH: +7.4%
- Last 30 days change: DOGE: +12.0%, ETH: -9.0%
- TVL: DOGE: $1.4M, ETH: $21.2B
- Most Commonly Used Cryptocurrencies for Transactions(August Month)
- Dogecoin ranked 4th with 6.3%; Bitcoin ranked first with 36.2%
- Transactions Count (Last 6 Months)
- Dogecoin ranked fourth with 26,327 transactions; Bitcoin ranked 1st with 169,283 transactions.
Will Doge Reach $5, and $10?
There are multiple ways in which Dogecoin could reach this level.
- A massive increase in Dogecoin being accepted as a payment
- Significant rise in DApps on Dogecoin, both DeFi and NFT.
Will Dogecoin Reach $5?
To reach $5, Dogecoin will have to rise 90 times higher or a Market Cap of $810 Billion.
Meta’s (Facebook) Market Cap is currently $764 Billion. According to data from Crunchbase, Meta valuation was at the same level as Dogecoin is today (in July 2023) in 2009. Therefore, it took Meta 14 years to rise from a Market Cap of $9 Billion to more than $750 Billion.
To check where Dogecoin is compared to Facebook in 2009, let us look at Google Search Trends
- In 2023, Dogecoin’s relative search volumes (compared to Facebook) is 1
- In 2009, Facebook was at about 50
So, in theory, it is quite feasible for Dogecoin to reach $5 but where it stands in the popular imagination, there is no possibility for Dogecoin to reach $5. Things could change if Popular acceptance surges, say via Twitter.
Will Dogecoin Reach $10?
To reach $10, Dogecoin will have to rise 180 times higher or a Market Cap of $1600 Billion.
Dogecoin will not reach $10 as they do not have popular acceptance yet and even if there is growth, it does not match the adoption rates of brands that have reached Market Caps exceeding $1.5 Trillion. Things could change in the event of a massive acceptance of Dogecoin, but there is no sign of that yet.
One must certainly add that Dogecoin could reach $5 and $10 if a substantial number of the Tokens are burnt. If 90-95% of the Tokens were burnt, that could drive up the price closer to $10 far more easily.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Cryptos or Stocks. Please consult a registered investment advisor to guide you on your financial decisions.