Dogecoin, the first mega-currency, is currently considered the “king” of meme crypto-currencies. The creators of Dogecoin envisioned it as a fun, lighthearted crypto-currency that would appeal to people outside of Bitcoin’s core audience, as it is based on a dog meme.
Billy Markus and Jackson Palmer developed this open-source crypto-currency, which forked from Litecoin in December 2013. Today, DOGE has a large following, including people like Elon Musk, and a few companies are exploring options to make it usable in real life.
Tracking models (Bitcoin – Dogecoin)
As previously discussed, in 2014-15, the price of bitcoin was below the $500 mark, with predictions that it would reach $1,000-$2,000 in the coming years. Some even predicted that bitcoin would reach $3,000-4,000 in the coming years.
And we all know how that turned out. The price of bitcoin crossed the $4,000 mark in 2017 and hit a record high of $16,000 in 2018 (only 3 years later).
OG Dogecoin is currently going through the same phase. At first, no one took DOGE seriously. Most investors never thought it could go mainstream. But, surprisingly, that’s what happened.
Not only did it get attention, but it also hit a record high of $0.73 on May 8, 2021. Since then, it has fallen due to the crypto winter and the recent FTX-Alameda crisis, and is now worth $0.096 per dogecoin.
Most Dogelovers as well as many investors have predicted from time to time that it will touch the $1 mark in the coming years. And the self-proclaimed “Dogefather“, Elon Musk, has repeatedly mentioned that he accepts DOGEs as payment.
It would be huge if Elon Musk adopted this crypto-currency as a payment option for any of his businesses or products! Let’s say you buy $100 worth of DOGE today at a rate of $0.09631 per DOGE. So, in total, you will have 1038.3137 DOGE coins.
If Dogecoin reaches $1 in the next few years, your $100 will become $1038, a return on investment of over 10 or 1000%.
Similarly, if you invest $1,000 in DOGE coins today, you will have approximately $10,383 when DOGE reaches $1.