Can Dogecoin Hit $100 In Future? Discussing The Expected Value of Dogecoin
Does dogecoin have the potential to hit $100?
Elon Musk Tweeted Multiple times in support of the Dogecoin. He even created a Poll on Twitter about the best cryptocurrency of the future. Do you know which currency wins in his Twitter polls? It is Dogecoin. If you are searching for finding the expected value of Dogecoin in the future or thinking that it might reach $100, let discuss thing in this article.
Did I invest money into Dogecoin? Yes, I did invest over $200 into buying some dogecoin. There are some of the things I want to share. First, Dogecoin was made as a joke, you make a coin as a joke or not, the purpose of every coin is very similar. The value of every cryptocurrency is dependent upon the demand-supply of the Dogecoin.
To the Moon
If we look into the one-month data of the prices of the Dogecoin, there especially correlations. The correlation is highly associated with the Tweets of Elon Musk. For the past one-month, Dogecoin has support from Elon Musk. If you look into the data, whenever Elon Musk Tweeted about Dogecoin, the prices go up. But, what could this data shows the future of the dogecoin? or can it hit $100 in the future?
The market value at the time of writing this article of dogecoin is $6.96 Billion dollars. The value is continuously changing as major cryptocurrencies have to value is changing every single minute. On the Internet memes either goes down the hell or reach you to the sky. So, either, if you think Dogecoin will reach $100 at the end of this year then that is not possible.
The expected Value of Dogecoin and when will it reach $100?
The expected value of any cryptocurrency is the future estimation of that cryptocurrency. There are over 100+ coins available; very few are free and some are above $100 while others are below $100 per coin. As Dogecoin is just a joke Coin or a meme, the only supporter it has is Elon Musk.
Elon Musk has over 47 Million followers on Twitter. He has the most well-off followers which means that if he tweeted about something, there is a high chance of its pricing goes up. As dogecoin has a full-time from Elon Musk. So, the value of the Dogecoin will be more determined by how frequently he (Elon) Tweeted about Dogecoin.
In my opinion, if nothing goes wrong and Dogecoin has support from Elon Musk, its prices might reach $1 at the end of 2022. This price depends upon the latest prices bump. The price of one single dogecoin is $0.04 to $0.05. The price of the coin might reach $0.1 at the end of 2021 if it got support from other Twitter and mainstream social media influencers.
The next question of you might be; When will dogecoin reach $100?
The Future of Dogecoin and Mars:
Elon Musk is one of the huge supporters of Dogecoin. If you have invested money into Dogecoin, keep it for the future. In 2024 or 2025, SpaceX is going to launch the first human mission to Mars. If humans have a stable community on Mars, in 2030 or 2040, Dogecoin might be used as an currency of Mars and this could boost the prices of the Dogecoin.
So, if you want to play the long-game, buy dogecoin and keep the link safe. Now, the question is; When will dogecoin reach $100? The answer to this question is; Probably in 2030. In 2014, Bitcoin was just priced at $6. At that time who knows that the price of Bitcoin will reach over $50,000. This shows that you should trust your inner voice and invest money into new trendy things.
The next question: When will dogecoin reach $1? I think this answer depends upon two things; The continuous support from the celebrities like Elon Musk and the news. If Elon Musk supported Dogecoin and there is some news related to the investment from big players, then it is very near, probably at the end of 2022 that Dogecoin will reach $1/coin.
What should you do now?
If you are interested to invest money into Dogecoin, invest but keep the things in mind that investing in cryptocurrency is a risky business. People didn't know about the value of Bitcoin, but they waited. They waited for over 6+ years in order to reach $50,000 per coin and made huge exits.
Note: I am not a financial advisor and you should research any business or investment before investing your money into it.
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I hope this helps.