Dogecoin is trading at the $0.38 mark on Thursday after rising nearly 200% in the last 30 days. Elon Musk’s close ties with President-elect Donald Trump sent the meme coin soaring in the charts. Trump is displaying friendly relations with the cryptocurrency market by considering key appointees with backgrounds in blockchain tech. Investors believe that Musk’s close relations with Trump could make DOGE surge in the charts next.
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The massive bull run pushed Dogecoin to reach a maximum high of $0.42 on November 13, 2024. It is still at a distant mark to achieve the target of $1. Thousands of investors have purchased the meme coin in hopes of crossing the $1 milestone. When that happens, traders would have made 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 Hit the $1 Milestone
Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Dogecoin. According to the price prediction, DOGE will hit the $1 mark but not in the short term. Investors who hold on to the long-term for close to five years could see their portfolio swell as it breaches $1.
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The latest price prediction predicts that Dogecoin could reach $1 by the start of 2029. That’s another five years from today, and it is considered a long-term holding. In addition, its price would jump nearly 245% to reach the price target. Therefore, an investment of $10,000 made today could turn into $34,500 if the forecast is accurate.
“Forecasts for 2029 suggest that DOGE will experience significant growth, with expected fluctuation ranging from $0.73 to $1.3. Investors might anticipate a potential ROI of 245%, aligning with a bullish outlook for the year,” read the forecast.