Dogecoin is trading at $0.38 on Thursday after rising almost 200% over the past 30 days. Elon Musk’s close ties to President-elect Donald Trump have propelled the coin up the charts. Trump displays friendly relations with the cryptocurrency market by considering key people with experience in blockchain technology. Investors believe that Musk’s close relationship with Trump could next push DOGE up the charts.
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The massive bull run pushed Dogecoin to a high of $0.42 on November 13, 2024. It is still far from reaching the $1 target. Thousands of investors bought the coin itself in hopes of breaking the $1 mark. When this happens, traders will make massive profits, including doubling or tripling their portfolio. In this article, we will highlight a tentative timeline for when Dogecoin could reach the $1 mark.
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Dogecoin: AI predicts when DOGE will reach $1 milestone
Leading On-Chain Metrics and Price Prediction Company CoinCodex painted a bullish picture for Dogecoin. According to price predictions, DOGE will reach the $1 mark, but not in the short term. Investors who hold on to the long term for nearly five years could see their portfolio swell as it rises above $1.
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The latest price prediction predicts that Dogecoin could reach $1 by early 2029. That’s still five years from today, and it’s considered a long-term hold. In addition, its price would jump nearly 245% to reach the price target. Thus, an investment of $10,000 made today could turn into $34,500 if the forecasts are correct.
“Forecasts for 2029 suggest that DOGE will see significant growth, with an expected fluctuation ranging from $0.73 to $1.3. Investors could expect a potential return on investment of 245%, which is a bullish outlook for the year. » read the forecast.