Several entities, such as Changelly and Telegaon, are optimistic about Dogecoin’s potential surge to $13.66, each outlining different timelines regarding when DOGE will hit this target.
This week, the crypto market witnessed another downturn, causing slight pullbacks across major assets like Dogecoin (DOGE). The token plunged below the $0.25 price mark yesterday after the Federal Reserve announced a 3% inflation rate.
Dogecoin Shows Resilience Amid Growing Institutional Interest
However, DOGE showcased resilience by rebounding above the $0.25 level. Many experts attribute Dogecoin’s remarkable performance to long-term investors’ refusal to sell the token due to growing institutional interest in DOGE.
For context, several asset managers, including Bitwise, are seeking to launch spot Dogecoin ETF in the U.S. According to Bloomberg analysts Eric Balchunas and James Seyffart, Dogecoin has a 75% odds of getting an ETF approved this year. The meme coin surpassed other assets in the analysis, including Solana (70%) and XRP (65%).
Amid these projections, investors have been fantasizing about how DOGE ETFs could attract more capital into the Dogecoin ecosystem, replicating the success of Bitcoin.
Dogecoin Surge to $13.66
Consequently, they speculate that Dogecoin might soar to unprecedented levels, with some setting an ambitious target of $13.66.
Currently, Dogecoin is trading at $0.2577, boasting a daily volume of $2.05 billion. It ranks as the eighth-biggest cryptocurrency with a valuation of $38.15 billion.
Therefore, reaching the $13.66 target requires Dogecoin to rise 5,200% from the current price of $0.2577. At this price, Dogecoin’s market cap will skyrocket to $2.02 trillion. This assumes DOGE’s circulating supply remains the same at 148.02 billion tokens.
Potential Timeline
With several analysts eyeing Dogecoin’s potential surge to $13.66, we examined when this projection could become a reality for the meme coin, referencing predictions from top entities like Changelly, Telegaon, and ChatGPT.
Changelly
Notably, experts at cryptocurrency trading platform Changelly forecast that Dogecoin will clinch the $13.66 target by January 2040. The experts believe this will be Dogecoin’s maximum price target by then, setting the asset’s minimum and average targets at $11.38 and $12.04, respectively.
Telegaon
Interestingly, the famous crypto prediction platform Telegaon believes that Dogecoin will hit this target sooner than Changelly’s projections. According to Telegaon, Dogecoin will soar to a minimum price of $13.63 by 2030, five years from now. In the same year, they expect DOGE to trade at an average price of $15.49 and a peak price of $18.04.
ChatGPT
Furthermore, the popular AI chatbot ChatGPT also predicted when Dogecoin could surge to $13.66. Referencing widespread suggestions, ChatGPT forecasts that Dogecoin will clinch the $13.66 target between 2029 and 2040.
The chatbot expects this price to be driven by favorable market dynamics, broader crypto adoption, and other technological advancements.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
