Crypto analysts have raised the possibility of the Dogecoin price reaching $10. Based on this, it has become important to analyze what DOGE’s market cap could be if it reaches this ambitious price target.
What DOGE’s Market Cap Would Be If The Dogecoin Price Reaches $10
CoinMarketCap data shows that DOGE currently boasts a total circulating supply of 148.88 billion. This means that the Dogecoin price could boast a market cap of $1.48 trillion if it reached $10. It is worth mentioning that this would make the meme coin more valuable than the entire crypto market, which is currently valued at around $2.66 trillion.
The Dogecoin price reaching $10 looks unrealistic based on DOGE’s market cap if it were to reach this price target. However, crypto analysts such as DOGECAPITAL have predicted that the foremost meme coin can reach this price level. In a recent X post, the analyst affirmed that DOGE could rally to $10 or higher.
In his analysis, he stated that the Dogecoin price is nearing the end of the green and red line zone. He noted that historically, entering this zone has often preceded significant upward momentum. The analyst predicts this upward movement could begin as early as next month. DOGECAPITAL warned that this doesn’t guarantee an immediate surge at the beginning of the month and remarked that the probability of a strong move upward will increase over time.
Based on historical trends, the crypto analyst predicted that the Dogecoin price could close the daily candle on December 31 this year at approximately $11.71. He added that this may not reflect the peak price during this cycle, as each year 4 in previous cycles has delivered progressively stronger results. DOGECAPITAL believes that DOGE’s performance in this cycle could exceed its prior achievements, especially with “rising institutional interest, increasing global adoption, and technological progress.”
DOGE Is Set To Pump Soon
Crypto analyst Trader Tardigrade echoed a similar sentiment as DOGECAPITAL, predicting that the Dogecoin price would pump soon. The analyst suggested that DOGE was at the final stage of its pullback. He remarked that the foremost meme coin is showing the same characteristics on the MACD and RSI as it did in the last stage of the previous pullbacks. In line with this, he affirmed that the meme coin is set to pump soon as it nears the end of this pullback.
Crypto analyst Master Kenobi asserted that a Dogecoin price breakout is expected to happen within hours. Interestingly, in a follow-up to this prediction, he raised the possibility of DOGE rallying to as high as $15 based on a Livermore formation on the meme coin’s chart.
At the time of writing, the Dogecoin price is trading at around $0.157, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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