People have been buzzing about the recent prediction that Dogecoin (DOGE) could hit $1, but is this projection overly optimistic given the current market conditions? We dissect this forecast and unveil another coin with the potential for even more substantial gains by the end of 2023 and beyond.
Dogecoin to $1: What’s the Scoop?
A respected figure in market analysis, AngeloBTC, recently made an audacious Dogecoin price prediction. This prediction indicated a potential surge for Dogecoin, propelling its value to an astonishing $1 per coin.
Initially conceived as a playful internet meme, Dogecoin has seen its share of ups and downs. However, AngeloBTC’s proclamation has injected renewed enthusiasm into its trajectory. Notably, Dogecoin’s price exhibited an upward trend over the last month, climbing from $0.069 on October 29 to $0.079 on November 29.
As market sentiment leans bullish, with 24 technical indicators signaling buy positions, the prospect of Dogecoin hitting $1 appears to resonate among traders.
But, when we look closer at the current Dogecoin numbers, this prediction is simply impossible.
Dogecoin to $1 – Breaking Down The Numbers
Picturing Dogecoin reaching $1 implies a 1,149% surge from its present value. A deeper dive into the figures reveals that for Dogecoin to get $1, it would necessitate a market cap of approximately $142B. This is a significant increase from its current market cap of $11.3B.
Given that Dogecoin has not been able to reach its all-time high of $0.74 since 2021, a $1 valuation may take years to occur. Not even the recent Dogecoin news that a physical DOGE would be sent to the moon soon has helped the coin price pass $0.10 – a level not hit since December 2022.
But here’s the real kicker – what other coin might outpace Dogecoin’s projected returns soon? Stick around to discover which cryptocurrency could outshine Dogecoin in the coming year.
Meme Moguls (MGLS) – A Better Way To Cash In on Memecoins
The high market cap hinders Dogecoin from reaching $1, as a massive influx of cash is needed. For this reason, knowledgeable traders are looking for alternatives with low market cap but sky-high growth potential. One such alternative is Meme Moguls (MGLS) – the world’s first meme-driven stock exchange.
Its native token, MGLS, is currently in stage one of its presale and costs only $0.0021. Early buyers have already obtained a 10% ROI as the presale completed its Beta stage in a record-breaking time – one week! MGLS also boasts a market cap of $6.3M, drastically lower than Dogecoin. Thus, only $6.3M will be needed to double its value.
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Reaching a $1 valuation for Meme Moguls requires a $3B market cap, which, while ambitious, remains a feasible objective. This prospect gains credibility when considering the innovative trading platform features, making such milestones reasonably attainable.
Demand for Meme Moguls is high, which can be seen by the fact that over 250,000 USDT were raised during the Beta stage of its presale. Because of this, experts in the field foresee a 1,000% price increase for MGLS before its presale ends. Given Meme Moguls’ potential for adoption, it offers a much more plausible route to significant profits than Dogecoin.
The post Shockwaves Ahead: Leading Crypto Analyst Forecasts Dogecoin (DOGE) Price Skyrocketing to $1 appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/shockwaves-ahead-leading-crypto-analyst-forecasts-dogecoin-doge-price-skyrocketing-to-1/