Dogecoinโs Probable Market Cap
Comparisons in the cryptocurrency market are common, especially inย theย caseย of the rivalry between different tokens. In this report, we will explore where the price of Dogecoinย (DOGE) could realistically be if its market cap reached theย present market cap of Bitcoinย (BTC) or Ethereum.
Dogecoinย (DOGE) with the Market Cap of Bitcoin
Bitcoin, the largest digitalย currency, asย ofย now has a market cap of $521 billion. This is more than double the market cap of Ethereumย (ETH) and accounts for about half of the total cryptocurrency market cap. Nonetheless, whatโs more interesting is where Dogecoinโs price would be if it reached Bitcoinโs market cap.
CoinGeckoโs Coin Comparison feature allows you to compare two digitalย currencies and see how much one would trade for if it had the market cap of the other. Using this feature, we can determine that a single Dogecoinย (DOGE) token at a market cap of $521 Billion would be worth $3.70, which is over 59 times its current price. Conversely, Bitcoinย (BTC) at Dogecoinโs market cap of $8.8 Billion would be valued at $448 per BTC.
Where Will Dogecoinย (DOGE) Trade with Ethereumโs Market Cap
Ethereumย (ETH) is asย ofย now the second- largest digitalย currency with a market cap of $196 billion. At this market cap, each Ethereumย (ETH) token is priced at $1,635 with a circulating supply of 120,225,429 Ethereumย (ETH). By comparing Dogecoinย (DOGE) to Ethereumย (ETH) using CoinGeckoโs Coin Comparison feature, we find that if Dogecoinย (DOGE) reached Ethereumโs $196 Billion market cap, it would be valued at $1.39 per token, which represents a 22 times increase from its current price.
On the other hand, if Ethereumย (ETH) fell to Dogecoinโs market cap of $8.8 billion, itsย value would fall to just $72.53, a wholeย lotย of decrease from its current value.
The Role of Circulating Supply
The price differences between these digitalย currencies at the same market cap can be attributed to their circulating supply. Dogecoinย (DOGE) has a circulating supply of over 141 Billion DOGE, while Bitcoinย (BTC) has 19.48 Million Bitcoin and Ethereumย (ETH) has 120 Million Ethereumย (ETH). The varying supply affects the tokenโs price when compared at the same market cap.
Hot Take: The Probable of Dogecoin
Dogecoinย (DOGE) has gained wholeย lotย of attention in the cryptocurrency world due to its meme-inspired origins and celebrity endorsements. Althoughย while reaching the marketย capitalizations of Bitcoinย (BTC) or Ethereumย (ETH) mayย appear like a stretch, this analysis shows that Dogecoinย (DOGE) has theย capacity for substantial growth if it continuesย toย win popularity and adoption.
Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.
