Dogecoin Could Surpass the $1 Mark
If VanEck’s predictions for Bitcoin and Ethereum materialize, Dogecoin (DOGE) could achieve a significant milestone by surpassing the psychological $1 mark. VanEck anticipates Bitcoin (BTC) rising to $325,000 and Ethereum (ETH) to $22,500.
Crypto Market Rises Despite Short-Term Declines
Over the past month, cryptocurrency prices have surged significantly. Bitcoin has crossed the $100,000 threshold, while Ethereum is currently trading below $4,000 after a slight dip.
Despite these fluctuations, experts remain optimistic. Matthew Sigel, Head of Digital Asset Research at VanEck, has set ambitious targets that could reshape the market trajectory.
Dogecoin’s Correlation with Bitcoin and Ethereum
Historically, Dogecoin’s price movements have been closely tied to Bitcoin and Ethereum. An increase in the prices of these major cryptocurrencies typically boosts DOGE as well.
According to IntoTheBlock data, Dogecoin has shown a 97% correlation with Bitcoin and an 86% correlation with Ethereum over the past 30 days. This strong connection indicates that DOGE could benefit significantly from any major rally in BTC and ETH.
DOGE’s Potential Price if VanEck Predictions Come True
If Bitcoin reaches $325,000 and Ethereum hits $22,500, Dogecoin could see a growth of approximately 348.17%. This would elevate its price to $1.82, marking a new all-time high.
In this scenario, Dogecoin’s market capitalization would reach $267.89 billion, surpassing Tether to become the third-largest cryptocurrency.
Timeline for DOGE to Hit $1.82
Different analyses offer varying timelines:
Changelly predicts Dogecoin will reach $1.82 by November 2031, in seven years.
Telegaon speculates DOGE could hit this milestone as early as 2026, within two years.
Factors Supporting Dogecoin’s Growth
While the timeline remains uncertain, several key factors could accelerate DOGE’s rise:
Elon Musk’s ongoing support, which has significantly boosted Dogecoin’s popularity.
Increasing adoption of Dogecoin as a payment method.
With these drivers, Dogecoin has the potential to reach new heights, though the exact timing of its ascent remains to be seen.
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