As Bitcoin holds a stable position around the $98K price range, Dogecoin is seeing a major price upswing.
The meme coin has surged by 3%, trading above $0.28, marking a fresh weekly high. Specifically, Dogecoin is now up by 13% for the week, although it remains down by 25% over the past 30 days.
Looking at a longer-term frame, such as the yearly, DOGE boasts an impressive 226% gain. Meanwhile, Bitcoin is up by 85% during this time, with its market cap crossing the $2 trillion milestone at one point.
With Dogecoin’s market cap currently at $42 billion, this analysis explores the potential price of the meme coin in a scenario where Bitcoin achieves a $10 trillion valuation.
Bitcoin Price at $10T Market Cap
Notably, in a scenario where Bitcoin holds a market cap of $10 trillion, it suggests that the global crypto market could exceed $20 trillion. This estimation comes from Bitcoin’s typical dominance of over 50% in the global crypto market.
For context, with Bitcoin’s current market cap at $1.9 trillion, it would need to expand by 418% to reach a $10 trillion valuation. With a circulating supply of 19.82 million BTC tokens, the unit value of Bitcoin would be at $504,540.
So, in a market where Bitcoin is worth over $500K per coin, what could the price of the largest meme coin, Dogecoin, be?
Dogecoin Price with Bitcoin at $10T Market Cap
Estimating the price is not straightforward. However, based on proportional growth analysis, a 418% increase, similar to Bitcoin’s ascent, would put Dogecoin’s unit price at $1.17. However, this mathematical approach underestimates Dogecoin’s potential price surge as Bitcoin rallies toward $500K.
For context, a $1 price for Dogecoin is a goal many are hoping for this year, with expectations even reaching as high as $10. However, projections for Bitcoin reaching $500K this year are rare.
Moreover, Bitcoin, being a trillion-dollar crypto asset, has limitations on its explosive price surge compared to a meme coin like Dogecoin, which has a $42 billion market cap. This is evident in Dogecoin’s yearly performance, where it has seen a 225% growth, while Bitcoin is up by only 85%.
Also, while it took Bitcoin one full year to surge 85%, Dogecoin achieved similar growth in a matter of weeks.
Essentially, in a market where Bitcoin’s value is above $500K per coin, Dogecoin’s price growth could exceed the 418% surge that took Bitcoin there.
Timeline for Bitcoin to Reach $500K
Notably, Telegaon analysts project Bitcoin could reach the $500K level with a $10 trillion cap by 2030. Meanwhile, by this 2030 timeline, the analysts expect Dogecoin’s price to be at least $13.
From its present price of $0.28, this would represent a massive 4,542% increase for DOGE. This further confirms that Dogecoin could see much higher growth during Bitcoin’s race to a $10 trillion market cap
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.
