So Will Dogecoin (DOGE) Reach 10 Cents Again By 2023? Survey Says...

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to Benzinga readers: By 2023, will Dogecoin reach 10 cents again? 

For the uninitiated, Dogecoin DOGE/USD was introduced as a joke in 2013 to help raise public awareness of the capabilities of blockchain technology. Though the Shiba Inu-based cryptocurrency was originally intended as a joke, it gained momentum in 2021 thanks to its passionate online community.

See Also: Dogecoin Soars As Elon Musk's Twitter Buyout Looks Set To Close: Here's What May Happen Next

Those most familiar with Dogecoin know all too well how correlated the price action of the cryptocurrency is to celebrity influence, including but not limited to tweets from Elon Musk.

Per our Benzinga team, sentiment in Dogecoin is turning bullish following news Musk's deal to purchase Twitter will close Friday. Musk, who is a Dogecoin bull, has hinted at making Dogecoin the default currency for a potential Twitter wallet...Read More

Here are the full results from this week’s survey:

• Yes, Dogecoin will reach 10 cents again by 2023: 67.6%

• No, Dogecoin won’t reach 10 cents again by 2023: 32.4%

For context- DOGE set an all-time high of $0.740796 set on May 8, 2021. At the time of publication, Dogecoin was trading up 4.80% at $0.079.

See Also: Dogecoin Vs. Shiba Inu

This survey was conducted by Benzinga in October 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.