Can Dogecoin Hit $1, $5 or $10 with Current Circulating Supply?
This has triggered concerns around the feasibility of Dogecoin reclaiming this peak. However, the prospect has not stopped some predictions around a possible Dogecoin rally to higher levels. One analyst recently discussed a price rally to $1 for Dogecoin.
However, with its 146 billion token supply, how technically possible is it for Dogecoin to claim the $1 mark or greater levels such as $5 and $10? At the $1 price, Dogecoin’s market cap would soar from the current $54 billion to a whopping $146 billion. Reaching this could prove difficult, but it remains feasible for the meme coin.
Meanwhile, the $5 might be more challenging. At its circulating supply of 146 billion tokens, Dogecoin’s valuation would spike to $734 billion, surpassing Ethereum’s market cap of $373.58 billion. This would make DOGE the second-largest crypto asset.
Further, the $10 price would take the meme coin’s market cap to a massive $1.46 trillion, close to Bitcoin’s current valuation of $1.788 trillion. While the $1 mark remains possible, higher prices like $5 and $10 might not be feasible in the current market cycle due to the massive capital required to reach the resulting market caps.
