Dogecoin price could skyrocket to new heights if the DOGE market cap is able to claim levels between $200 billion and $1 trillion.
Notably, the broader market’s downside has had a bearish effect on Dogecoin price and its market cap. Dogecoin’s market cap, which soared to a 3-year peak of $71 billion in December 2024, has now collapsed to $38.9 billion at press time. This marks a 45% crash within three months.
Dogecoin Faces Uncertainty
Since its inception, DOGE market cap has failed to claim the coveted $100 billion mark, per trading data from TradingView. For context, data suggests the meme coin’s peak market cap came up in May 2021, when it soared to $98.47 billion, aligning with the price spike to the all-time high of $0.74.
Since then, it’s been downhill for Dogecoin price and its market cap. The recent recovery, which began in September 2024, failed to provide enough momentum to push DOGE market cap to the $100 billion mark.
However, analysts believe the latest pullback is necessary and healthy for the market, predicting an imminent recovery that could push Dogecoin price to new all-time highs. Some of the targets for this recovery include $2.29 from Javon Marks, $3.69 from Trader Tardigrade, and an audacious $42 by MyCryptoParadise.
Nonetheless, some market commentators have dismissed a few of these targets, calling them too ambitious. One recurrent argument in this discussion is Dogecoin’s circulating supply and the potential impact these targets might have on its market cap.
Dogecoin Price at $200B, $500B and $1T Market Caps
Amid these discussions, we recently evaluated how much Dogecoin price could rise if the asset claims certain market cap milestones in this bull run or in subsequent market cycles in the future.
First, should DOGE market cap finally surpass the $100 billion mark and make it to the $200 billion level, this alone would lead to a new all-time high for Dogecoin price. At a $200 billion valuation, the Dogecoin price would hit $1.35, supposing its circulating supply of 148 billion tokens remains fairly stable.
Meanwhile, if Dogecoin records a more substantial rally and claims a $500 billion market cap, its price could soar to a more substantial $3.3, still within reasonable targets. Also, this assessment assumes that Dogecoin circulating supply remains stable at 148 billion tokens.
Conclusively, a greater rally to $1 trillion market cap would have a massive impact on Dogecoin price. At this valuation, and with a 148 billion supply, Dogecoin’s price would reach $6.75.
It bears mentioning that several analysts have predicted Dogecoin to claim targets around these prices. For instance, earlier this month, analyst “Investment CEO” predicted DOGE to hit $1.5. Last month, Trader Tardigrade projected a rise to $3.8. Meanwhile, “dogegod” expects a run to $6.
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