The OG meme cryptocurrency, Dogecoin (DOGE), has been on a rollercoaster lately. The market has been on the edge, with notable spikes followed by downtrends. While some were reaping the benefits of investing early on in the asset, others were catching up. Several believe that DOGE has the potential to rise to a high of $1 and beyond, so investing in the asset now could bring in profits in the future.
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Dogecoin’s Current Price
Dogecoin surged to a high of $0.4566 just yesterday, leading the market to believe that DOGE could push beyond $0.50. But at press time, the meme coin was trading at $0.4372 following a slight price drop.
It should be noted that DOGE hit an all-time high of $0.737 about four years ago, in 2021. The asset is required to rise by over 40% to reach this peak. $1 and $5 are even further, and the meme coin will need to surge by 132% and 1062%, respectively.
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Potential Profits Ahead?
The $1 mark has been a prominent milestone that the DOGE market hopes to achieve. Several price prediction platforms believe that the meme coin will reach this level by the year 2029. To begin, purchasing 10,000 DOGE today would cost an investor $4,250. So, if the price of 10,000 Dogecoins climbs to $1, they will be worth $10,000.
Things could be more bullish if Dogecoin continues its rally and reaches $5. Investors who hold on to their stash while DOGE makes its way to the $5 zone, their investment could grow to a high of $100,000. So, a dainty investment of $4,250 at present could turn into either $10,000 or $100,000. But DOGE will have to record a significant rise for this to occur.
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