Dogecoin has fallen below the 10 cent mark and is currently trading at $0.09. The leading meme currency has failed to climb above the $0.20 mark in six months as several economic factors drive down its price.
DOGE has not seen any price surges since March and is either declining or trading sideways on the charts. The price movement is testing investors’ patience as DOGE has only posted losses this year.
Also read: VeChain and Cardano price prediction for August 2024
Following the price drop, Finder’s panel of experts predicted a bullish thesis for Dogecoin. The analysts predict that investing now during the downturn could pay off for investors in the coming years.
According to estimates, DOGE could reach its all-time high in the next few years, but it may not break its all-time high of $0.73.
Dogecoin approaches its all-time high of $0.73
Finder’s panel of cryptocurrency analysts predicts that Dogecoin could approach its all-time high and trade at $0.64 in 2030. That’s another six years from today and it is considered a long-term investment.
Potential ROI
The forecast suggests that DOGE could be just nine cents away from reaching its all-time high of $0.73 in 2030.
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If Dogecoin reaches $0.64, that would be an uptrend and a return on investment (ROI) of about 600%. Therefore, a $1,000 investment today could turn into $7,000 if the prediction is correct in six years. Those are phenomenal returns in six years; 600% gain means a 100% annual increase.
Also read: XRP and ADA price prediction after cryptocurrency market crash
Market volatility and risks
Still, the cryptocurrency market is very volatile and can go in either direction, causing massive losses to investors. There is no guarantee that Dogecoin could rise 600% and reach $0.64 in six years.
Market conditions can change overnight, messing up predictions. It is recommended to conduct thorough research before taking an entry position in DOGE and trade at your own risk.
