Dogecoin (DOGE) Could Set a New All-Time High Above the $2 Mark

Dogecoin has gained widespread popularity since its inception in 2013. While several factors have driven DOGE's popularity over the years

Elon Musk's net worth is currently estimated at $342.4 billion, while the total market cap of crypto is about $2.6 trillion. For reference, the entire U.S. federal budget in 2023 is about $9 trillion.

If we're talking about individual coins, the eighth-biggest is Dogecoin, with a market cap of $28.94 billion. At this valuation, DOGE is trading at $0.1951, having dropped 5.37% over the last 24 hours.

What Would Happen to Dogecoin Price If It Surpasses Elon Musk's Net Worth?

For DOGE to equal Musk's net worth, its market cap must grow more than tenfold from its current value.

Specifically, DOGE's market cap must soar astronomically by 1,083% from its current valuation of $28.94 billion to equal Musk's $342.4 billion net worth.

If this hypothetical scenario happens, Dogecoin will be worth $2.3 per token, assuming its circulating supply of 148.34 billion DOGE remains relatively stable.

To put this rally into perspective, a portfolio of 100,000 DOGE, currently valued at $19,510, will be worth $230,000 if DOGE hits the $2.3 projected target.

This scenario is quite interesting, especially considering that several crypto experts, including Dogecoin's co-founder Billy Markus, have predicted DOGE's potential surge to the $2 mark.

Back in January, Markus called for an upsurge of 500% that could potentially take DOGE's price to $2.3. At the time, he envisioned the possibility of the token being supported as a tipping currency on X. A few weeks later, renowned crypto analyst Javon Marks referenced DOGE's historical price pattern to predict the meme coin's future rally to around the $2.3 mark.

Meanwhile, Changelly experts set a timeline on when DOGE might hit the $2.3 target. According to the experts, the $2.3 price projection could become a reality for DOGE by July 2032, more than seven years from now.

However, the popular prediction platform Telegaon suggests that DOGE might reach the $2.3 target early next year. It remains to be seen whether DOGE will reach this target or what the exact timeline is for this to happen.

In the meantime, investors are encouraged to do thorough research and seek professional advice before making any investment decisions in cryptocurrencies.