Dogecoin price could be appreciated more than 54,000% if the same part was able to reach Gold market capitalization, biggest Financial asset by evaluation.
Historical struggles for the market capitalization of Dogecoin
As a main piece of memes, Dogecoin came far Since its humble beginnings at the end of 2013. In January 2014, Dogecoin market capitalization has been held at $ 5.58 million, according to CoinmarketCap data. This figure increased to $ 90.5 million in February 2014 but stabilized to around $ 36 million for most of this year.
Interesting fact, from this range, Dogecoin assessment Has changed more from 2015 to 2016, reaching the level of $ 21 million During this period. However, a turnaround occurred in the 2017/2018 Taurus run As the adoption of the crypto has become more common. Dogecoin exploited this tendency to achieve a market capitalization of $ 388 million in May 2017 before collapsing Again.
Meanwhile, the room even major breakthrough occurred in the following bull run In 2021, when he drew the attention of Tesla and billionaire Elon Musk. In January 2021, Dogecoin’s market capitalization had crossed $ 1 billion for the first time in its history. He continued to skyrocket at T1 2021, reaching a top of $ 8.94 billion before the retraced.
A subsequent increase in April 2021 saw Dogine’s market capitalization increased to $ 47.3 billion before retreating and raised at a more substantial rate at 73.8 billion dollars in May 2021. This Was the market capitalization of all Dogecoin times.
Dogecoin price if it is able to reach the market capitalization of gold
Interesting fact, as shown in the current level market The immense potential of DogecoinDiscussions on massive price peaks have led to projections that could lead to higher market assessments for the memes piece.
For the context, Dogecoin attended an impressive race in November 2024 following the US elections. Consequently, its market capitalization has reached $ 61 billion, more than 331 companies within the S&P 500. This Has gritted higher patterns when the meme piece supported the race.
At 61 billion dollars, the total market capitalization of Dogecoin is now greater than 331 companies in the S&P 500.$ DOGE $ Spx
– Charlie Bilello (@Charliebilello) November 13, 2024
Although widely considered a pipe dream, the idea of the market capitalization of Dogecoin reached. Such a rally would be astronomical but remains largely worried.
However, with a current Gold market capitalization of $ 18.8 billions of dollars, if Dogecoin reached this level, its price would drop to $ 127.56, taking into account the supply in circulation of 147.8 billion tokens. Currently exchanging $ 0.2352, Dogecoin would need Rally 54,109% to reach $ 127.56. However, ambitious projections of similar proportions have recently taken root.
For examplelast DecemberAli Martinez market analyst suggested That a Dogecoin price rally at $ 23 was possible. In addition, Trader Tardigrade, another market commentator, foreseen A possible price increase to $ 30. For the context, a price of $ 23 would lead to a Dogecoin market capitalization of $ 3.4 billions of dollars, and $ 30 translate into an evaluation of $ 4.4 billions of dollars.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.