2024-04-11 10:27:39

#BRC20 tokens soar. Will the momentum continue?

Dogecoin Price Prediction – $1 Incoming?

If Dogecoin is to hit new highs for the year above $0.23 and overtake USDC, calls for it to soon hit $1 will grow once again.

It will be difficult for Dogecoin to achieve 5x growth from current levels this bull market, but not impossible.

Imagine a scenario where BTC breaks above $100,000 in the coming quarters. That would mean Bitcoin’s market cap moving above $2 trillion.

Well, for Dogecoin to reach $1, its market cap would “only” need to grow to around $144 billion. That would only be around 7% of Bitcoin’s market cap.

Let’s also assume that as Bitcoin breaks above $100,000 and its market cap above $2 trillion, its dominance declines.

Say its dominance declines to 40% (from the current 50%). It’s feasible that the cryptocurrency market cap excluding Bitcoin could reach around $3 trillion in this scenario.

A market cap of $144 billion would put Dogecoin at under 5% of the crypto market cap, excluding Bitcoin.

These are not unrealistic growth numbers for the world’s most popular and well-known meme coin. In the wild crypto markets, anything can happen.

Traders shouldn’t rule out $1 dogecoin in 2024 or 2025.#ContentStar

DOGE0.71%

BTC1.83%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes

Reward
1
3
Repost
Share

Comment

0/400

XinYu

· 2024-04-12 19:07

Stud All in 🙌

View OriginalReply0

BornToBeBeautiful131

· 2024-04-12 00:19

#BRC20币种开启上涨，该趋势能延续吗？#

View OriginalReply0

CoinCircleElfFu2268

· 2024-04-11 10:44

"Dollar dominance is critical for the United States," Howard Lutnick, CEO of Wall Street bond trading giant Cantor Fitzgerald, said at the Chainalysis conference on Wednesday. It's important to us, it's important to our economy. That's why I favor the appropriately supported stablecoins Tether (USDT) and Circle (USDC). ” Stablecoins, he said, are "the foundation of the U.S. economy, driving demand for U.S. Treasuries and not posing a systemic risk to the world." (Bloomberg) Previously, Howard Lutnick said in an interview with Bloomberg that he manages a lot of Tether's assets and does a lot of work. Howard Lutnick also claims that Tether owns the funds they claim and that Cantor has seen that Tether does own the funds.

View OriginalReply0