- Dogecoin might hit $2 by 2031, according to Changelly, while Telegaon predicts it could reach $2.12 by 2028.
- Analyst Javon Marks suggests a Log Breakout could cause Dogecoin to rise by 7,200%, potentially surpassing $10.
Dogecoin (DOGE), launched in December 2013, remains one of the most well-known meme coins in the cryptocurrency space. Over the years, it has garnered significant attention and experienced substantial price fluctuations. Early investors saw significant returns, with DOGE’s price skyrocketing to unprecedented levels.
To understand the potential future value of Dogecoin, consider this: If the value of DOGE is $2 per coin to have a million-dollar worth of DOGE, one needs to acquire 500000 tokens. At the moment, 500 000 DOGE is equivalent to $58 000. If DOGE rises to $2, this portfolio’s value would rise by more than 1620%. Nevertheless, DOGE has seen such drastic price gains in the past. The price of the coin has risen by over 20,000% since its launch.
Predicted Timeline for $2
Changelly’s research shows that Dogecoin may hit the $2 mark in 7 years from now by the year 2031. According to their estimates, the price is expected to rise to $2. 05 by August 2031. This long-term forecast is in line with the cautiously hopeful sentiment expressed by a number of other crypto analysts’ predictions.
In contrast, Telegaon presents a more optimistic outlook. They have estimated that DOGE can reach $2.12 by the year 2028, which is four years before the predicted by Changelly. This prediction implies that Dogecoin may be growing at a faster rate than anticipated by some analysts.
Analyzing Javon Marks’ Log Breakout Theory for Dogecoin
Crypto analyst Javon Marks recently tweeted on X (formerly Twitter) that the Dogecoin chart was likely to experience a Log Breakout soon. As noted by Marks, this technical pattern may lead to a sharp rise in the price of Dogecoin. Referring to history, Marks pointed out that similar breakouts have been followed by rallies.
Over the years, $DOGE (Dogecoin)'s Log Breakouts (displayed) have ALWAYS led into massive upsides and prices of, have done so again with a break currently holding!
Now, based on the previous 2 breakouts, each of these runs have consecutively gotten larger, and if we are to see… pic.twitter.com/AXljvJqtW0
— JAVON⚡️MARKS (@JavonTM1) July 31, 2024
Dogecoin’s first Log Breakout took place in the bull market of 2017-2018, which led to an impressive rise of 9,472% in its price from $0. 0002 to $0. 01858. The second occurrence was in the 2020-2021 bull market when the price of Dogecoin rose by a staggering 28,882% from $0. 0012 to $0. 74.
According to Marks, every Log Breakout has been followed by bigger rallies than the previous one. If this trend is to be followed then the price of Dogecoin could go through the roof. In the analysis by Marks, a similar breakout can result in the price of Dogecoin rising by at least 7200% from the existing rates and maybe move above the $10 mark.
However, achieving such a monumental surge will not be without challenges. Dogecoin’s market capitalization is quite high at the moment, which could make it difficult for the coin to gain much more value. Nevertheless, the historical profits/losses of Log Breakouts offer a rather convincing argument as to the possibilities for future performance.
Also, Kaleo, a popular crypto analyst, has claimed that DOGE is poised to rise substantially within the current market cycle. According to Kaleo, the biggest memecoin by market cap could surge significantly, possibly between $1 and $2. In this regard, Kaleo’s analysis indicates that there is a possibility of a rise of between 706% and 1,512% from the current price of Dogecoin.
For those of you who say DOGE is boring – for the most part, you're right.
It's spent ~9.5 years of its existence trending sideways or down. The other 1 year? It had one run that pumped ~6000% from the lows and another that pumped more than 30,000%.
The… pic.twitter.com/523tqCMBdC
— K A L E O (@CryptoKaleo) June 25, 2024
