Dogecoin could recover most of its recent losses and attain a new all-time high if it successfully captures half of Bitcoin’s market cap.
The broader crypto market took another hit yesterday, causing top assets like Dogecoin (DOGE) to experience significant declines.
Dogecoin’s Latest Price Action
For context, the price of Dogecoin surged to a daily high of $0.2606 on February 21, 2025, following reports that the SEC dropped its lawsuit against Coinbase.
While the industry was still celebrating this feat, Bybit confirmed it was hacked to the tune of $1.46 billion worth of ERC-20 tokens. Subsequent reports showed that North Korea’s Lazarus Group perpetrated this devastating attack.
As expected, the report spread panic across the industry, with many investors taking to safety by selling volatile cryptos for stablecoins. This caused DOGE to slump to $0.2351, marking a 9.78% decline from its peak price of $0.2606, registered on February 21.
At press time, DOGE has rebounded slightly to $0.2442 per token. Nonetheless, the token is still down 3.74% in the past 24 hours and 11.6% over the past week.
Investors remain confident in Dogecoin’s potential, undeterred by the latest dip and optimistic about a future rally. Some even project that Dogecoin could clinch half of Bitcoin’s market cap in the future.
This optimism stems from positive updates relating to Dogecoin, including the growing institutional interest in DOGE as reflected in the multiple filings for a spot ETF tied to the token.
Dogecoin Price If It Captures 50% of Bitcoin’s Market Cap
Based on this speculation, we estimated how much DOGE could trade if it captured half of Bitcoin’s current valuation.
Dogecoin currently sits on a market cap of $36.16 billion, positioning it as the eighth biggest cryptocurrency globally. In comparison, Bitcoin ranks as the world’s largest cryptocurrency, with a market cap of $1.9 trillion.
Notably, half of Bitcoin’s market cap is $950 billion. Therefore, if Dogecoin captures half of Bitcoin’s current market cap, it will have a valuation of $950 billion.
To attain this feat, Dogecoin must soar 2,527% from its current valuation of $36.16 billion. A $950 billion market cap for Dogecoin will take its price to $6.4151.
It bears mentioning that this analysis assumes that Dogecoin does not experience significant changes to its circulating supply, which currently stands at 148.14 billion DOGE.
DOGE to $6 Predictions
Interestingly, several experts believe the $6 target is possible for Dogecoin. According to pseudonymous analyst Doge Lord, Dogecoin will soar to the $6 target this year.
However, experts at Changelly believe it could take much longer, estimating a timeframe between 2035 – 2039. Meanwhile, the top prediction platform Telegaon suggests that Dogecoin will hit the $6 target by 2028, three years from now. The platform set DOGE’s minimum and maximum targets for 2028 at $5.72 and $9.12, respectively.
Despite the optimism surrounding these projections, there is a need for caution, given the volatile nature of cryptos.
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