**Dogecoin’s Price Potential: Could It Reach Double Digits?**
Dogecoin (DOGE) is on a path to recovery following a recent market slump. According to data from CoinMarketCap, Dogecoin’s price has increased by 6.51% in the last 24 hours and 13.39% over the past week. As of now, DOGE is trading at $0.2423, with a daily trading volume of $2.56 billion. With a current valuation of $35.26 billion, Dogecoin ranks as the eighth-largest cryptocurrency by market cap. Despite its origins as a meme coin, Dogecoin outperforms several utility tokens, including Cardano (ADA), Tron (TRX), and Chainlink (LINK).
In light of this recent rally, Dogecoin fans are buzzing with speculation about what could happen if DOGE were to capture 50% of the global crypto market cap. This possibility has ignited a mix of curiosity and excitement within the Dogecoin community. Consequently, we’ve estimated what Dogecoin’s price might look like if it were to achieve this ambitious goal.
**Dogecoin Price If It Captures 50% of Global Crypto Market Cap**
As of now, the global crypto market cap is approximately $3.25 trillion. Dogecoin’s current valuation of $35.26 billion represents about 1.26% of this total. If DOGE were to capture half of the global market cap, its valuation would skyrocket to around $1.63 trillion, surpassing Ethereum’s current market value. This would mark an astonishing increase of 3,850% from Dogecoin’s present market cap. If Dogecoin reaches a market cap of $1.63 trillion, its price could potentially rise to $11, assuming the circulating supply remains stable at 148.05 billion tokens.
The implications of such a surge are significant. For instance, a portfolio of 100,000 DOGE, currently valued at $27,850, would balloon to an impressive $1.1 million if Dogecoin captures 50% of the global crypto market cap and hits the $11 price target.
**DOGE to $11 Predictions**
Interestingly, many market analysts believe that Dogecoin has the potential to hit the $11 mark in its lifetime. In November, the pseudonymous crypto analyst Trader Tardigrade pointed to Dogecoin’s performance within the Gaussian channel as a basis for predicting a rise to the $11 price range. Tardigrade noted that DOGE would need to replicate its performance from the 2020/2021 market cycle to achieve this milestone.
Additionally, experts at Changelly share a similar outlook, forecasting that Dogecoin could reach the $11 target by January 2040, nearly 15 years from now. By that time, they anticipate Dogecoin will trade at an average price of $11.56, with minimum and maximum price targets set at $10.80 and $13.74, respectively.
In summary, while the journey to $11 may be long, the excitement surrounding Dogecoin’s potential continues to grow.
