Dogecoin could see its value approach the double-digit price range in a market where Bitcoin hits the $1 million mark.
Dogecoin has often capitalized on Bitcoin’s momentum, soaring to new highs as Bitcoin enters its price discovery phase. At press time, Dogecoin is hovering around $0.25, boasting a yearly gain of 210%. In comparison, Bitcoin is trading at $96,000, reflecting a year-to-date gain of 115%.
As Bitcoin edges closer to reclaiming the $100,000 mark and possibly heading into even higher price ranges, investors are increasingly eyeing Dogecoin as a way to profit from the bullish market.
Among the boldest forecasts for Bitcoin’s future is the prediction of a $1 million valuation, a target set by several prominent experts, including Bernstein.
This article explores the conceivable value of Dogecoin if Bitcoin were to hit the $1 million milestone.
Top Forecasts for Bitcoin to Hit $1 Million
In a report released in June 2024, Bernstein argued that Bitcoin could attain a $1 million price by 2033.
Meanwhile, business author Robert Kiyosaki has also suggested that Bitcoin could reach $1 million within this decade. Similarly, former Twitter CEO Jack Dorsey has argued for a $1 million Bitcoin by 2030.
Currently hovering at $96,000, Bitcoin would need to increase by 941% to hit $1 million. At that price, Bitcoin’s market capitalization would approach $20 trillion, far surpassing the current total value of gold.
Such a surge would likely boost the altcoin market as well. If Bitcoin’s market cap reaches $20 trillion, the altcoin market could increase similarly. In particular, the entire cryptocurrency market could have an over $40 trillion valuation, considering BTC’s over 50% dominance.
Dogecoin (DOGE) Value If Bitcoin Reaches $1 Million
Predicting Dogecoin’s price if Bitcoin hits $1 million is not straightforward. However, assuming Dogecoin’s value grows in proportion to Bitcoin’s, a 941% increase from its current price of $0.25 would push its value to approximately $2.60. At this price, Dogecoin’s market cap would be around $382 billion.
This calculation likely underestimates the meme coin’s potential in a crypto market where BTC is worth $1 million or has a $20 trillion cap.
For instance, Dogecoin has historically outpaced Bitcoin in growth. While Bitcoin boasts a yearly growth of 115%, Dogecoin has seen a more impressive 210% surge.
Moreover, some analysts believe that Dogecoin could even reach $10 in the current market environment, possibly by the end of this year.
According to Telegaon, Bitcoin could be worth a minimum of $13 by 2030—the same year many expect Bitcoin to hit $1 million. Telegaon also argues for a maximum price of $18 for DOGE by 2030.
Essentially, this suggests that Dogecoin could see an upside far exceeding Bitcoin’s projected 941% increase.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
