Can dogecoin reach $10 is one of the most frequent questions a lot of people have asked recently.
Over the years, dogecoin has had one of the best gains amongst all cryptocurrencies.
From a coin that was created as a joke to a coin that is making waves.
This has put dogecoin in a glorious position other cryptocurrencies only dream of.
But the thing is that there is still enough room for dogecoin to reach even greater heights than what it is today.
Some think it could reach $10, some think it could reach $100.
A lot of people even think that it can even make it pass the height of $1000.
In this guide, you will learn if at all dogecoin can reach $10.
Can dogecoin reach $10
There is some level of certainty that dogecoin can hit $10 mark.
This will not just happen overnight.
But it will take the practical implementation of so many things to make this a reality.
When dogecoin was launched, it came out as a joke.
A lot of people never believed it could still exist after one month.
But the same coin that was not regarded as important by a lot of people had one of its best years in 2021.
This is a price gain that majority of the top 100 cryptocurrencies have not had.
But dogecoin moved from a price less than $0.0005 to a massive price gain of $0.73 in 2021.
Just few cents away from the $1 mark.
With the massive adoption that doge is receiving, dogecoin will reach $10 someday.
How Can Dogecoin Reach $10
It is not just okay to estimate if dogecoin will reach great heights of price gain, things must be put in place to achieve that.
This is because such a massive amount of growth is time bound.
But to make it a reality, some things need to be done to achieve the goal.
Some of these things are discussed below.
1) More Burning Of Dogecoins
One of the greatest hindrances of dogecoin massive growth is its supply quantity.
This has hindered the level at which the coin could possible grow.
But with the use of burning, some of these excessive quantity can be taken out of circulation.
This will in turn help the dogecoin to reach great price heights like $10.
If you compare dogecoin with a crypto like polkadot, doge has a larger marketcap but polkadot is more than 100 times more valuable than dogecoin in price.
With dogecoin having a price of $0.1435, polkadot enjoys a price of $18.06.
This is because of the large difference in quantity that the two cryptocurrencies have.
Polkadot is way smaller than dogecoin in quantity.
This makes any small addition in marketcap reflect with a good price gain.
But for a coin like dogecoin, a lot of money has to be injected into it to see a tangible gain.
This technique is what some great cryptocurrencies use to make their crypto experience massive gain.
BNB is a great example of this.
At a point in 2021, binance burned about 1,335,888 BNB at once to reduce the quantity of BNB in circulation.
At that point, the burned BNB was worth over $639 million.
Binance also carries out this burn on a quarterly basis.
This just helps in increasing the value of the coin better than when the circulation quantity is really large.
If Dogecoin could also implement this measures more, it will really help dogecoin reach $10 faster.
2) More Adoption In The Use Of Dogecoin
One of the ways of increasing the value and price of a cryptocurrency is when the adoption level is really good.
This is one of the keys to bitcoin massive price soar.
The higher the adoption level of a crypto, the higher the likelihood that people will invest more in it.
When people increase in its usage, it looks more valuable to a lot of people.
This is what will endear a lot of more people to start patronizing dogecoin.
Such patronage will lead to the increase number of investors.
Such increase also leads to the increase in its marketcap which increases its price too.
3) By Holding And Investing More Of Dogecoin
When the market cap of a cryptocurrency increases, the price sees a gain too.
But one of the ways of really increasing the marketcap of a crypto is not just in adoption only.
It is with an increase in the number of investors using the dogecoin crypto.
This is because investors offer more price increase to a coin than traders.
When people trade dogecoin, they exchange it into other cryptocurrencies.
Such crypto includes the likes of bitcoin, USDT, BNB and other popular and high profile cryptocurrencies.
This leads to the fluctuation in the marketcap of the dogecoin cryptocurrency.
When this happens, there is always an uneven change in price.
But when it comes to investing doge, the method is quite different.
While traders convert dogecoin to other cryptocurrencies when they trade thereby lowering the marketcap of dogecoin, investors do the opposite.
Such is what makes it glaring if dogecoin will reach $10.
When investors invest in dogecoin, they hold the dogecoin without selling it to other crypto or fiat.
This helps in increasing the marketcap of dogecoin.
This increase in marketcap also helps the price of the dogecoin to go up in value.
When will dogecoin Reach $10
The time at which dogecoin will reach 10 dollars is really debated by a lot of people.
This is because of the high hope that a lot of people put in dogecoin.
This has also led to the high volume of investment into dogecoin.
This gives dogecoin a brighter future of reaching and even passing the $10 mark a lot of people wish to see.
But as a fellow dogecoin holder, you have a part to play to this level of success too.
This is by also being a continuous investor in the dogecoin cryptocurrency.
If a large number of dogecoin community can continuously keep investing in doge, then the time at which dogecoin will hit $10 will be much closer.
Dogecoin has recorded a massive growth as compared to a lot of cryptocurrencies.
But in every success, there is always room for more achievements.
This is why a lot of people keep asking can dogecoin reach $10.
In such a massive gain, you have a part to play too.
And that is to keep holding and investing your dogecoins too.
This collective effort from the dogecoin community will go a long way in helping the dogecoin crypto record massive gains.