**Dogecoin’s Path to Recovery and Potential New Heights**
Dogecoin has the potential to bounce back from its recent losses and reach a new all-time high if it can capture half of Bitcoin’s market cap. The wider cryptocurrency market faced another setback yesterday, leading to significant declines in major assets like Dogecoin (DOGE).
**Dogecoin’s Latest Price Action**
To provide some context, Dogecoin’s price peaked at $0.2606 on February 21, 2025, following news that the SEC had dropped its lawsuit against Coinbase. While the crypto community was still celebrating this positive development, Bybit announced it had been hacked, resulting in a loss of $1.46 billion worth of ERC-20 tokens. Reports later revealed that the notorious Lazarus Group from North Korea was behind this attack. As anticipated, this news triggered panic in the market, prompting many investors to sell off volatile cryptocurrencies in favor of stablecoins. Consequently, DOGE fell to $0.2351, reflecting a 9.78% drop from its peak price of $0.2606. As of now, DOGE has slightly recovered to $0.2442 per token. However, it remains down 3.74% in the last 24 hours and 11.6% over the past week.
**Investor Sentiment**
Despite the recent dip, investors continue to believe in Dogecoin’s potential and remain optimistic about a future rally. Some analysts even speculate that Dogecoin could capture half of Bitcoin’s market cap in the future. This optimism is fueled by positive developments surrounding Dogecoin, including increasing institutional interest, as evidenced by multiple filings for a spot ETF linked to the token.
**Dogecoin Price If It Captures 50% of Bitcoin’s Market Cap**
Based on this speculation, we can estimate how much DOGE could be worth if it were to capture half of Bitcoin’s current valuation. Currently, Dogecoin has a market cap of $36.16 billion, making it the eighth largest cryptocurrency globally. In contrast, Bitcoin holds the title of the largest cryptocurrency, with a market cap of $1.9 trillion. Half of Bitcoin’s market cap amounts to $950 billion. Therefore, if Dogecoin were to achieve this milestone, it would need to increase by 2,527% from its current valuation of $36.16 billion. A market cap of $950 billion for Dogecoin would elevate its price to $6.4151. It’s important to note that this analysis assumes no significant changes to Dogecoin’s circulating supply, which currently stands at 148.14 billion DOGE.
**DOGE to $6 Predictions**
Interestingly, several experts believe that reaching the $6 target is feasible for Dogecoin. A pseudonymous analyst known as Doge Lord predicts that Dogecoin will hit the $6 mark this year. However, analysts at Changelly suggest it may take longer, estimating a timeframe between 2035 and 2039. Meanwhile, the prediction platform Telegaon forecasts that Dogecoin could reach the $6 target by 2028, just three years from now.
