The price of Dogecoin (DOGE) has been soaring since the start of 2021. So, if you were to invest $100 in Dogecoin today, there is a huge chance that the crypto boom that has made many people millionaires could lead you to reach new milestones in terms of capital gains in the not-too-distant future.
At the time of writing, DOGE’s value has increased significantly, having returned 30,330.31% from its launch as a crypto trading asset for fans who believed in the meme-inspired currency right from the start.
Such metrics have contributed to increasing the valuation of DOGE to more than $30 billion. With whispers about potential upgrades to Dogecoin’s blockchain to make it more scalable and perhaps trigger smart contracts, the value of DOGE is going to increase even higher. This will translate to relatively higher returns for traders and investors.
The year 2021 saw DOGE gain high-profile support from popular, well-established, and largest cryptocurrency exchanges by trading volume.
Although it took years and lots of lobbying by the Dogecoin Community and Shiba Inu dog fans, DOGE is now available for trading on Binance, eToro, OKEx, FTX, Huobi Global, Voyager, Coinbase, Gemini, Robinhood, Changelly, CoinTiger, Crypto.com, Webull, Mandala Exchange, and Bittrex among others.
Aside from exchange listings, the valuation of the digital coin continues to benefit from support from high profile celebrities such as the self-proclaimed DogeFather, Elon Musk, Snoop Dogg, Mark Cuban, Kevin Jonas, Gene Simmons, Angela White, Mia Khalifa, Ben Phillips, Jake Paul, and Marques Brownlee among others.
With millions of followers among them, these celebrities continue to invest in DOGE and tell others to do the same. DOGE is also supported in the form of a payment option on the part of NBA Franchise owner of the Dallas Mavericks Mark Cuban.
This is why the cryptocurrency continues to be involved in thousands of transactions daily. As of Tuesday, 19th October 2021, DOGE was involved in transactions worth $50 million in 24 hours.
It is therefore not surprising to see numerous analysts and experts across several highly reputable crypto forecasting portals predict a great future for Dogecoin (DOGE).
Experts at Wallet Investor estimate DOGE to trade for a coin at $0.441 by the end of 2022 while experts at Trading Beasts believe DOGE could settle at $0.2729 by the year’s end of 2022 for the short term. ️
In the medium term, Wallet Investor expects DOGE to settle at $0.650 by the close of 2023 while Trading Beasts foresees DOGE trade at $0.3010 on 31st December 2023.
In the long term, the experts at Wallet Investor estimate DOGE to trade for a coin at $2.674 on 17th October 2026.
This means that investing $100 in DOGE today could see you with more than 140% returns in the short term, 350% returns in the medium term, and 500% returns in the long term.
Just like millions of up-and-coming blockchain and decentralized finance enthusiasts, traders, as well as investors who have numerous questions, you are right to ask, can you really invest $100 in Dogecoin? Let us figure it out.