Coin World Report:
The first meme coin, Dogecoin (DOGE), used to be the most popular asset. Most of its popularity came from the continuous support of Elon Musk. However, reaching $1 seemed to be a difficult task for this asset. The highest value DOGE reached was $0.7376.
Although some people have dropped out of the meme coin market due to lack of utility, slow price movement, and the Musk effect, others are looking at long-term benefits.
Recent performance and market sentiment of Dogecoin
The past 12 months have been eventful for this meme coin. During this period, Dogecoin surged by almost 80%. As of writing, the trading price of this asset is $0.1086, with a 1.43% increase in the past 24 hours. Compared to other assets in the market, Dogecoin’s performance seems quite good. Dogecoin saw a 7% surge last week.
Market sentiment
The market’s confidence in Dogecoin doesn’t seem particularly high. According to CoinGlass data, the sentiment towards Dogecoin is bearish, with bears accounting for 52% and bulls only 47%.
Dogecoin price predictions
Although the current sentiment is bearish, a lot can change in ten years. It is worth noting that DOGE’s current stock price is 85% lower than its all-time high. This asset would have to increase by 91,981.03% to reach $100. Although it may seem unrealistic at the moment, DOGE fans remain confident.
Future price predictions
According to Changelly’s data, DOGE is projected to reach $1 only in 2029. Reportedly, in 2034, ten years later, the trading price of Dogecoin will be around $10. Changelly also revealed that in 2023, DOGE’s highest price will rise to $5.17.
