Will DogeCoin ever reach $1000 mark?

Will DogeCoin ever reach $1000 mark?

Dogecoin got a lot of attention when it was introduced in 2013. The cryptocurrency has been around for a while and is still going strong. It’s price, however, might be too high for the average joe to invest.

Dogecoin occupies the 8th spot in the list of top coins based on market capitalization.

With a total volume of $600 million USD, DOGE has been doing really well since its introduction in 2013.

Dogecoin has been on a roller coaster ride of ups and downs since its inception in 2013.

Some experts believe that this question is very hard to answer since the coin is currently riding on its name and brand recognition after all these years. If Dogecoin manages to achieve this feat, it might act as an incentive for other cryptocurrencies to follow suit and start reaching new highs too!

Dogecoin has been on the rise since its inception in December 2013, but there are still no signs of it reaching its initial value of $1.

Dogecoin is a cryptocurrency which is based on the popular Shiba Inu dog meme. Unlike Bitcoin, Dogecoin was created as a joke, but it has won over Bitcoin’s market capitalization. The cryptocurrency hit a high point of $0.01 per Dogecoin just before Christmas in 2014.

Many people are waiting for DogeCoin to reach the $1000 mark. However, it is difficult to say when this will happen because there are too many factors that can affect the price of any currency.

It might be just a matter of time before DogeCoin reaches the $1000 mark but there are too many factors that could play a part in making or breaking its value.

Dogecoin started as a joke currency and it has now emerged as an increasingly popular cryptocurrency. Dogecoin was designed to be fun and has a lot of features that make it stand out from the competition like its huge community, fast transactions and much more.

Will DogeCoin ever reach $1000 mark?

Maybe, but let’s do the math to see the impacts of that happening.

Current supply of Dogecoin is 1 billion, with a market capitalization of $129 billion if it only ever reached the one dollar value.

If the price of Dogecoin reaches $1,000, it would mean you’d have 129 trillion dollars! Woah, that’s probably more than is circulating in actual USD!

If that happens, it could mean one of two things:

  1. It appears the American dollar is having a lot of issues on the markets lately, so it might be time for them to switch to some other currency. As you have probably seen on your screens, the Euro seems more solid than many of them others. The Pound is also a decent bet at this point in time. Dogecoin just may not be the best option for some
  2. Dogecoin is getting more popular, many HODLers are very rich, and the USD is still viable. Dogecoin might be accepted as a secondary currency after this.

Whats next for dogecoin in 2021?

Dogecoin has a lot of potential now.

It might reach the dollar mark during this time. Elon Musk and the people of WallstreetBets have been making a move on Dogecoin, with an intent to raise its price.

THAT is why it has skyrocketed these past few days after they did the same thing like saving AMC from going bankrupt. They are sending a message that not only the people who have billions have potential, but also the people who are working hard can do something worthwhile.

The stock market will remember this moment. It’s kind of fun to see people “eating” the rich because they are symbolically destroying them

There are a number of different exchanges that provide Dogecoin trading, and they allow you to make some money. Binance is the best of those exchanges – it offers a simple, straightforward interface with lots of opportunities for DOGE trading fun!

You need to learn about market caps when looking at the price potential of a coin, doge already has a huge market cap and is a top 10 coin, so for it to x1000 the whole market itself will need to explode and be the top dog in the world economy, which is possible but it may take 10-20 years for the crypto market cap to explode like this.

Final thoughts and conclusion on if doge will hit 1k

Dogecoin going to $1,000 is too much of a stretch for me… I can say that it’s highly unlikely.

The circulating supply is so high, so at $1,000 per unit, the market cap is up to $129 Trillion.

So if everybody decided to convert their money into Dogecoin, it would be worth 4 times as much as all the money on earth.

If the total worth of all money as it is traded as assets, derivatives or cryptocurrencies exceeds $1.2 quintillion USD, then 10% of its total value could be attributed to the current marketcap of Dogecoin.

This is not impossible, but it’s unlikely.

This is not financial advice. It is very personal and was created by my own experience and the use of a calculator