Dogecoin Price Prediction: DOGE Could Recover Most of Its Recent Losses and Attain a New All-Time High If It Successfully Captures Half of Bitcoin's Market Cap

The broader crypto market took another hit yesterday, causing top assets like Dogecoin (DOGE) to experience significant declines.

Dogecoin (DOGE) price soared to a daily high of $0.2606 on February 21, following reports that the SEC dropped its lawsuit against Coinbase. However, the broader crypto market took another hit yesterday, causing DOGE to experience a significant decline.

Specifically, Dogecoin’s price dropped to $0.2351, marking a 9.78% decline from its peak price of $0.2606, registered on February 21. At press time, DOGE has rebounded slightly to $0.2442 per token.

Despite the latest dip, investors remain optimistic about Dogecoin’s potential and are projecting that the meme coin could clinch half of Bitcoin’s market cap in the future.

This optimism is fueled by positive updates relating to Dogecoin, such as the growing institutional interest in DOGE, evidenced by the multiple filings for a spot ETF tied to the token.

To put things into perspective, Dogecoin currently sits on a market cap of $36.16 billion, ranking it as the eighth biggest cryptocurrency globally. In comparison, Bitcoin ranks as the world’s largest cryptocurrency with a market cap of $1.9 trillion.

Based on this speculation, we estimated how much DOGE could trade if it captured half of Bitcoin’s current valuation.

Dogecoin Price If It Captures 50% of Bitcoin’s Market Cap

Half of Bitcoin’s market cap is $950 billion. Therefore, if Dogecoin captures half of Bitcoin’s current market cap, it will have a valuation of $950 billion.

To attain this feat, Dogecoin must soar 2,527% from its current valuation of $36.16 billion. A $950 billion market cap for Dogecoin will take its price to $6.4151.

It bears mentioning that this analysis assumes that Dogecoin does not experience significant changes to its circulating supply, which currently stands at 148.14 billion DOGE.

Multiple experts have expressed optimism about Dogecoin’s potential to reach the $6 target, although their timelines vary. Notably, pseudonymous analyst Doge Lord is convinced that Dogecoin will hit the $6 target this year.

However,竺 readers should exercise caution and conduct their own due diligence before making any investment decisions. Also, note that the projections highlighted in this article do not constitute financial advice.