Holding 10,000 Dogecoin Could Make You A Millionaire, Predicts Crypto Analyst

Crypto analyst predicts that owning 10,000 Dogecoins could make you a billionaire

Since 2021, Dogecoin (DOGE) has consistently remained one of the largest cryptocurrencies on the market. The token has attracted tens of billions of dollars in investment and is up more than 27,000% since its launch.

Although the price has fallen significantly from its highs, the token has maintained its status quo and performed well in 2024. Some see growth not stopping anytime soon. According to some analysts, DOGE could reach the $100 level and even exceed it.

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Analysis published in TradingViewis titled “Dogecoin is just getting started” and shows a complex chart pattern that could lead to $100 DOGE. Specifically, this chart depicts the Bitcoin halving as a period in which the price rises after the halving, reaches new highs approximately 12-18 months later, then falls exponentially, and then reaches a gap at the start of the halving. It is used as a marker for the beginning of a repeating trend of up. The next halving will form a new high.

Based on this pattern and applied to the current cycle and price level, the analysis shows that the target price for the next all-time high (ATH) is $27. This pattern shows that DOGE could reach $27 by October and fall to $2.60 in 2025.

The next halving is expected to occur in the first half of 2028. This could signal a further period of price appreciation where DOGE could reach new highs above $100.

Trending: If you invested $100 in DOGE in 2019 when Elon Musk first tweeted about DOGE; how much do you have today.

However, analysis shows that this cycle could be different.

“We could see more volatility. The four-year cycle could get shorter and shorter as the market moves faster and the rally accelerates, but we could end up with another long bear market. Dogecoin It could reach the top in October 2024, and other altcoins could follow later,” TradingView analysts said. .

The analyst also thinks other things need to happen for DOGE to reach $100.

“If the dollar index collapses and hyper-Bitcoinization occurs, starting a decade-long downward trend, DOGE could go even higher than $27, and possibly over $100.”

The $100 DOGE prediction relies on a “hyperbitcoinization” scenario, where Bitcoin surpasses traditional money. It’s unlikely to happen before 2028, but it could happen well into the future. With this in mind, DOGE could reach $100, but probably not on the timeline laid out by analysts.

But it’s still interesting to think about what $100 DOGE looks like. At that price, 10,000 DOGE is worth $1 million. Currently, 10,000 DOGE is worth about $1,500. This means that $100 of DOGE results in a price increase of over 66,000%. This is not unheard of in the cryptocurrency industry, but it would give it a market capitalization of over $14 trillion, which is about 25 times more than cryptocurrencies. JPMorgan Chase & Co. (NYSE:JPM). It is unlikely that this will happen, but it is not impossible.

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This article Crypto analyst predicts that owning 10,000 Dogecoins could make you a billionaire originally appeared Benzinga.com

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