Dogecoin Price Could Hit $5 If 100M Start Using It Daily

Key Insights:

• Dogecoin daily active users dropped 98% since Nov. 2024 peak.
• Price could reach $5 if daily users hit 100 million.
• DOGE trades below key moving averages with weak whale activity.

Dogecoin’s price has struggled in 2025, falling nearly 49% year-to-date. With active user numbers collapsing alongside its market value, fresh debate is emerging over what the meme coin might be worth if it saw mainstream adoption.

According to current data, Dogecoin is trading at $0.1620, down sharply from its 2024 highs above $0.47. But some analysts believe that if Dogecoin reached 100 million daily users, the price could jump toward the $5 mark—a 30X gain from current levels.

98% Drop in Daily Active Users Raises Red Flags

Dogecoin’s on-chain activity has collapsed in recent months. According to Santiment data, DOGE currently sees around 39,507 daily active addresses. Just a month ago, that number stood near 391,450. The sharp decline in user activity has coincided with DOGE’s slide from $0.1723 to under $0.17.

The picture was very different in late Nov. 2024. On Nov. 22, daily active Dogecoin wallets peaked at 1.64 million. At the time, DOGE was trading near a three-year high above $0.412. A week later, the price surged to $0.4700. Since then, DOGE has dropped over 66% in value, while its user base has shrunk by 98%.

This correlation between user activity and price action has sparked new discussions about the impact of utility-driven demand on Dogecoin’s valuation.

What Happens If 100 Million Start Using Dogecoin?

In a hypothetical scenario where 100 million people use Dogecoin daily, the market dynamics would shift drastically. Assuming a fixed supply of 148.81 billion coins, a $750 billion market cap would imply a price of $5.04 per DOGE.

That would represent a 3,025% increase from current levels.

While this projection remains speculative, the idea underscores a long-standing debate in crypto: demand drives price. A surge in daily users could boost network activity, increase exchange volumes, and create upward pressure on valuation through rising utility.

However, market observers caution against overly optimistic forecasts. Ali, an on-chain analyst, noted that Dogecoin whales “have stayed quiet over the past 96 hours,” with no large accumulation or selling behavior. This lack of large-player activity implies limited conviction in the short term.

Key Support Levels and Technical Roadblocks

From a technical perspective, Dogecoin is currently trading just below the 50-day exponential moving average (EMA) at $0.188. It also faces overhead resistance near the 200-day EMA at $0.228.

Chart data shows the price is trying to break above a falling wedge formation. A confirmed breakout could open the door to a retest of the $0.25–$0.30 range, marked by previous Fibonacci retracement levels. The RSI sits near 47.5, showing neutral momentum.

Independent analyst @PeloSwing flagged the 200-week moving average as key support. Meanwhile, World Of Charts1 claimed Dogecoin could see a “3X move” like in Oct. 2024 if the breakout plays out. That move saw DOGE rally over 200% in a matter of weeks.

Long-term forecasts differ. Telegaon projects DOGE could reach $5 within three years. But data from Changelly suggests it may take until 2034 to hit that milestone.

On social media, Javon said Dogecoin looks ready to “put on yet another bullish performance,” predicting an at-least 200%–330% breakout above $0.73. However, that projection would require a sharp reversal in market sentiment and a return of retail interest.

Disclaimer

This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.