Cryptocurrency analysts have suggested the potential for the Dogecoin price to hit $10. Given this, it is crucial to assess what DOGE’s market capitalization would be if it reaches this ambitious price point.
What DOGE’s Market Capitalization Would Be If The Dogecoin Price Hits $10
CoinMarketCap statistics indicate that DOGE presently has a total circulating supply of 148.88 billion. This suggests that the Dogecoin price could showcase a market capitalization of $1.48 trillion if it reaches $10. It is notable that this would position the meme coin as more valuable than the entire cryptocurrency market, which is currently estimated at around $2.66 trillion.
The prospect of the Dogecoin price achieving $10 appears unrealistic when considering DOGE’s market cap if it were to meet this price target. Nevertheless, cryptocurrency analysts like DOGECAPITAL have forecasted that the leading meme coin can attain this price level. In a recent X post, the analyst confirmed that DOGE could surge to $10 or above.
In the analysis, it was noted that the Dogecoin price is approaching the conclusion of the green and red line zone. The analyst highlighted that historically, entering this zone has frequently preceded significant upward momentum. It is anticipated that this upward trend may commence as soon as next month. DOGECAPITAL cautioned that this does not guarantee an immediate boost at the start of the month and emphasized that the likelihood of a strong upward movement will increase as time goes on.
Drawing from historical patterns, the crypto analyst projected that the Dogecoin price could close the daily candle on December 31 this year at about $11.71. He added that this may not represent the peak price during this cycle, as each year 4 in past cycles has shown progressively stronger results. DOGECAPITAL believes that DOGE’s performance in this cycle could surpass its previous results, particularly with “increasing institutional interest, rising global adoption, and technological advancements.”
DOGE Is Poised For A Surge Soon
Cryptocurrency analyst Trader Tardigrade echoed a similar view as DOGECAPITAL, forecasting that the Dogecoin price would rise shortly. The analyst indicated that DOGE was in the final phase of its pullback. He observed that the leading meme coin is exhibiting similar characteristics on the MACD and RSI as it did in the concluding phase of prior pullbacks. Consequently, he asserted that the meme coin is ready to surge imminently as it nears the end of this pullback.
Crypto analyst Master Kenobi claimed that a breakout in the Dogecoin price is anticipated to occur within hours. Notably, in a follow-up to this prediction, he raised the potential of DOGE surging to as high as $15 based on a Livermore formation on the meme coin’s chart.
At the point of writing, the Dogecoin price is trading around $0.157, having increased over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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