Dogecoin poised for major breakthrough: Could $10 be next?

by cryptheory

October 30, 2024

Reading Time: 2 mins read

Optimism is high among Dogecoin (DOGE) enthusiasts who believe the upcoming bull market could propel DOGE to a whopping $10.

On the social platform X, DogeGuy shared a chart analysis over the weekend, speculating that DOGE could reach $9–$10 in a rising market.

According to this graph, #Dogecoin could go as high as $9-$10 in this bull run. Optimistic is from $1 – $2.70.
Super bullish! pic.twitter.com/xqQwDckjVV

— ĐogeGuy 🥇 (@DogeGuy14) October 27, 2024

Another X user, Dima James Potts, also pointed to indicators suggesting DOGE might hit $10 by 2025.

$DOGE $10+ DOGECOIN?! 📈

Weekly Chart Update: Since the green and red lines crossed in the first week of September, Dogecoin's price has been steadily rising. This trend is expected to continue into 2025. The cross of the green and red lines signified the final bottom,… pic.twitter.com/XrEgzEudBM

— Ðima James Potts (@DimaPotts36) October 24, 2024

For Dogecoin to reach $10 from its current level, it would need a 65x surge, amounting to a market cap of approximately $1.5 trillion—even higher than Bitcoin’s current cap of $1.36 trillion, according to the latest CoinMarketCap data.

However, an established meme coin like dogecoin is unlikely to go up 65x.

How high can Dogecoin climb?

While Dogecoin’s rise to extreme heights might seem unlikely, there are still scenarios where a significant price increase is possible. If major companies begin accepting Dogecoin as a payment method or high-profile supporters like Elon Musk adopt it as a payment option on platforms such as X, it’s expected that Dogecoin’s utility and demand would see a substantial boost.

$DOGE is going to spread like wildfire when Elon Musk implements Doge payments on 𝕏

“𝕏 Payments are coming soon” – @lindayaX

I hope you have been loading up on Dogecoinpic.twitter.com/fN9S95uAB1

— 𝓣 𝓞 𝓟 𝓓 𝓞 𝓖 𝓔 (@TOPDOGE007) September 3, 2024

On social media, speculations like these are often the subject of intense debate. Dogecoin has maintained its status at the heart of speculative trading, thriving on viral trends, media coverage, and support from celebrities. This unique environment creates ideal conditions for Dogecoin’s price surges, even if the hype may not last long-term. However, in the short term, this speculative appeal could drive prices up dramatically.

Looking ahead, Dogecoin could realistically reach $1 by 2025, which would mean a 6.5x increase from its current price level. This growth potential hinges on both market interest and the ongoing excitement surrounding meme coins.