Can Dogecoin Rally Like In 2021? Honest Opinion.
In 2021, $DOGE skyrocketed 15,000%, going from a meme to a serious player. Now, after the next Bitcoin halving and the market showing signs of life, many wonder: Can Dogecoin repeat history?
Letâs break it down:
đžIn 2021, DOGE market cap went from $600M to $70B. At the time, it marked over 150x growth of market cap.
đžToday if DOGE was to reach $70B market cap, it would mean only 3.7x growth.
Things are different today: Dogecoin is now widely held, in top 10 biggest cryptocurrencies, and the 150x rise from today would require Dogecoin to hit an impossible $2.25 trillion market cap - more than the entire crypto market combined!
What coins could experience such a rally then?
We can already see that memecoins with smaller market caps - like $WIF - make bigger movements than DOGE, both up and down. And the memecoins outside of the top 100 cryptos, for example $BOME have a similar market cap to the DOGE at the beginning of 2021.
But, Dogecoin was unique at the time, and its rise was largely fueled by Elon Muskâs tweets. Today, the competition among meme coins is fierce, and itâs hard to imagine another 150x gain for any established coin.
You can still profit from meme coins, but itâs important to stay realistic. Cashing in on gains is better than waiting for another dream rally that might never come.
