DOGECOIN (DOGE)The number one piece of memes has since passed from a joke on the internet in a full -fledged digital currency in the cryptographic space. Despite its rapid growth, the question remains: what would be the price of Dogecoin if it reached the Bitcoin market capitalization (BTC), the largest cryptocurrency in the world? With Bitcoin dominating space with its massive valuation, reports reveal that the Doge price could soar above $ 10 if it can reach similar market capitalization.
Dogecoin price for Bitcoin market capitalization
Bitcoin is currently Dominate the cryptography market With a market capitalization of around 1.63 billion of dollars. Compared to Dogecoin, which has a market capitalization of around $ 25.5 billion, the gap between the two best cryptocurrencies is insurmountable.
The Dadecoin price is also currently negotiated at only $ 0.17. The meme piece experienced a significant amount of volatility and lower prices In recent weeks, driven by the widest market collapse.
If Doge were to correspond to the Bitcoin market capitalization To reach $ 1.6 billion, its price would drop to $ 11.02 per room. This is a significant jump for its current market value, which is less than $ 1.
Although the possibility of hitting the market capitalization of Dogecoin has been intriguing, it would take significant bullish factors to achieve this almost impossible feat. First of all, the Cap will have to jump 63.72x before being able to reach the level of Bitcoin. In addition, the price of the memes part must survive 6,382.5% to reach an evaluation of $ 11.
Factors such as reduction in supply, community supportAnd a general praise is also necessary to feed this rally. Unlike Bitcoin, which has a fixed offer of 21 million pieces, Dogecoin has an endless supplyWith millions of new parts regularly entering circulation. The inflationary nature of its tokenomic could make a challenge for a rally of sustained market capitalization.
Beyond supply concerns, the meme piece will require generalized adoption and institutional investment equally with Bitcoin. Although the same corner has developed a robust community over the years, it is still miles away from reaching popularity and adoption obtained by Bitcoin.
The feeling of the market also plays a crucial role in the possible increase in the market capitalization of DOGE. Due to its nature of money, the Mediating prices Historically was motivated by changing media, Social media influencesAnd the approvals of characters like Elon Musk. Although this has resulted in Historic Dogecoin prices, an increase at $ 11 would require more than viral trends but the usefulness and requirement of this rival bitcoin.
The analyst says Doge Price is ready to pump
Despite the wider slowdown in the market, analysts remain optimistic The future perspectives of Dogecoin. Trader Tardigrade, an eminent expert in crypto, has projected A incoming price pump for Dogecoin.
The analyst has revealed that DOGE is currently sitting at a key price between $ 0.15 and $ 0.22, which could act as a launch ramp to a Potential ath. He predicts that the same part could soar beyond $ 3.6 once this pump is triggered.
Istock star image, tradingView.com graphic
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