Ethereum

Bitcoin

Dogecoin

Elon Musk

<p style="text-align: justify"><strong>Dogecoin</strong> (<a href="https://en.coin-turk.com/dogecoin-continues-its-rise-by-breaking-resistances-on-the-daily-chart/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>), one of the top 10 cryptocurrencies in terms of <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> capitalization, has attracted all attention as one of the best performers of the day. At the time of writing, each DOGE is trading at $0.07368 and has a market value exceeding $10.43 billion.</p>
<h2 style="text-align: justify" id="price-target-in-dogecoin">Price Target in Dogecoin</h2>
<p style="text-align: justify">Discussions continue about Dogecoin, the meme coin with the largest market capitalization in the cryptocurrency universe. Traders and investors continue to comment on whether Dogecoin can reach the anticipated historical level of $1 with a strong price movement.</p>
<p style="text-align: justify">For such a price to occur, Dogecoin needs to achieve a 1,257% increase from its current level. In addition, considering the circulating supply for Dogecoin to reach $1, it needs to have a market capitalization of $141.57 billion.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-270634" src="https://coin-turk.com/wp-content/uploads/2023/10/dogecoin-fiyat-grafik.png" alt="" width="797" height="496"></p>
<p style="text-align: justify">If this situation happens, its market value will make DOGE the third largest cryptocurrency after Ethereum (ETH) with a market value of $218.61 billion and <a href="https://en.coin-turk.com/is-september-a-perfect-time-to-buy-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) with a market value of $668.84 billion.</p>
<p style="text-align: justify">In addition, it should be noted that Dogecoin has one of the highest supply inflations among the top 10 cryptocurrencies. This situation can directly affect the possibility of reaching higher prices even if the demand for DOGE increases over time.</p>
<p style="text-align: justify">Dogecoin had approached the $1 level in the past. On May 8, 2021, Dogecoin reached a market value of $88.80 billion and reached its all-time high price of $0.73. If the highest circulation occurs in DOGE, there may be a decrease of more than 15% in its price and it can trade at $0.62 with the current circulating supply.</p>
<h2 style="text-align: justify" id="dogecoin-price-analysis">Dogecoin Price Analysis</h2>
<p style="text-align: justify">Speaking of the price performance of DOGE on October 26, it rose to $0.06632 with a 10.58% price increase at the time of writing and is trading at this price.</p>
<p style="text-align: justify">Although reaching the $1 price level in Dogecoin is not impossible, it will also require an unprecedented demand to overcome the future increase in supply. For this to happen, Elon Musk and perhaps other celebrities need to provide clear support, similar to what happened in the past.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-270637" src="https://coin-turk.com/wp-content/uploads/2023/10/doge-1-dolar-olur-mu.png" alt="" width="980" height="563"></p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry risks due to their high volatility and should conduct their own research when making trades.
</div> Continue Reading: <a href="https://en.coin-turk.com/is-it-more-logical-to-invest-in-dogecoin-doge-or-ripple-xrp/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/is-it-more-logical-to-invest-in-dogecoin-doge-or-ripple-xrp/</a>

Is It More Logical to Invest in Dogecoin (DOGE) or Ripple (XRP)?

Table of Contents

COINTURK NEWS

Other articles published on Oct 26, 2023

Bitcoin ETF Rumors: Catalyst for a Rally or a “Sell-the-News” Event?

World Bank debuts first digital native note (DNN) on Luxembourg Stock Exchange

Elon Musk And Crypto Community Comments On X’s Audio & Video Calling Feature

Dogecoin Could Breakout If This Happens – ‘Moment of Truth’ For DOGE

WAX Coin Surges After Partnership with Amazon Prime Gaming

SkyBridge Capital Founder Expresses Doubt About Bankman-Fried’s Chances in Ongoing Trial

Join our free newsletter for daily crypto updates!