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The price of Dogecoin would ultimately surpass the $1 threshold should it soar to attain Ethereum’s current market cap.
In recent times, Dogecoin has lost the bullish momentum that attracted a lot of interest in the last quarter of 2024. With its price dipping by over 25% in the last four weeks and falling below $0.20, its yearly gain is now just 11%.
Nevertheless, many still have high hopes for Dogecoin’s performance this year. Analysts suggest that Dogecoin could reach an unprecedented $100 billion market cap during this cycle.
Amid this optimism, The Crypto Basic analyzes the potential worth of $DOGE should its valuation rise to the size of Ethereum’s.
Dogecoin Price with Ethereum Market Cap
As of today, Dogecoin has a market cap of $30 billion, commanding more than 50% of the total share of the memecoin market. Notably, with this cap, Dogecoin’s price is just around $0.21.
Meanwhile, Ethereum, the altcoin king, has a much higher valuation at $262 billion, with a unit ETH price of $2,270.
Accordingly, there’s a gap of over $230 billion between Ethereum and Dogecoin. However, given Dogecoin’s historically explosive price movements, many believe it could close the gap faster than many would expect.
For Dogecoin to reach Ethereum’s $262 billion market cap, its current valuation must expand by nearly 9x. Specifically, the market cap of Dogecoin must soar by 773% to reach $262 billion.
Notably, $DOGE has a current circulating supply of 148.29 billion tokens. Accordingly, its unit price in this scenario would be $1.746.
The $1 mark has been a long-standing aspiration for Dogecoin enthusiasts since the last bull season. However, many believe this will be the cycle where Dogecoin finally surpasses $1.
Despite this, with the ongoing trend of lower lows, the journey to $1 remains increasingly formidable for $DOGE. This brings us to the question of how long it will take for Dogecoin to reach $1.746.
Timeline for $DOGE to Hit $1.746
Market commentators at Telegaon, a prediction platform, suggest that Dogecoin could reach $1.72 this year, but that would likely be its maximum price. Meanwhile, by 2026, they expect $1.73 to be the minimum.
On the other hand, analysts at Changelly suggest that the earliest time for Dogecoin to approach the $1 mark is by 2029.