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
