How many Dogecoin coins do you need to have to make $1,000,000 on a cryptocurrency hype?

How many Dogecoin coins do you need to buy to make 1,000,000$ on the hype?

In this article we will answer the question: does it make sense to invest in Dogecoin in terms of profit and how many coins you need to buy now to make 1000000 USDT on the hype!

This article is not financial advice, it is up to you to decide what to do with Dogecoin coins!

Dogecoin price historic high

First of all, let's find out what was the maximum price for 1 Dogecoin?

The maximum price for 1 Dogecoin was registered on May 8, 2021 (during the last hype). The value of one coin rose to 0.681 USDT!

It turns out that since October 2020, the value of the coin has increased ~250x!

It turns out that if in 2020, traders bought ~1,470,588 Dogecoin, worth only ~3,970 USDT, then at the 2021 hype (if there were Hold coins) could get from 300,000 USDT to 1,000,000 USDT (the price spread is due to the fact that guessing the end of the maximum price of the asset is almost not realistic, and most likely traders would sell by laddering).

How much Dogecoin do you need to have in 2024 to get 1000000 dollars?

All further indicators will be calculated only taking into account that Dogecoin will theoretically be able to reach the price of the last historical maximum ~$0.6 (i.e. the price we have definitely seen historically for this coin).

This does not mean that the coin will not be able to surpass this amount and show new highs during the next hype period. However, it is worth understanding that the cryptocurrency market is fickle and very volatile, and that even at the next hype, the price of 1 Dogecoin could be even lower than the historical maximum!

So, at the time of writing (February 2024), a trader needs to have 1,470,588 Doge in his portfolio.

This will cost 122.922 USDT! Now the trader will have to spend 31 times more than in 2020 (3970 USDT)!

It is also worth understanding that he will receive less interest! Approximately the value of his portfolio on the hype will grow by 8 times (remember, in 2021 the value of the portfolio grew by ~250 times)!

Dogecoin rate forecast in 2024. Will there be price growth? Will Dogecoin reach $1?

Dogecoin is a coin that is in the top 10 in terms of capitalization (ranked 9th)!

Even though it's mostly a "joke coin" - it has a very large fan base, with a huge number of celebrities (Ilon Musk, Snoop Doge, and others) promoting it.

There is a lot of faith in the coin, which means it should grow in value on the hype.

In 2024, there will be another Bitcoin halving. After this event, more often than not in the history of cryptocurrencies was accompanied by hype - growth in the price of cryptocurrencies (Bitcoin and other altcoins).

Most often, the so-called altcoin season (which includes Doge) starts a little after the beginning of the Bitcoin hype!

Of course, the growth of 250 times should not be expected on this hype! However, the price of DOGE may well reach the mark of 1$ and even a little more, that is, grow by 150-200% of the previous maximum price!

This is due to the fact that the coin is being heavily promoted by celebrities around the world! Due to this, when the bull run begins, the price of this viola could skyrocket to the moon!