Galaxy Digital, a leading blockchain company, has made its price predictions for Dogecoin (CRYPTO: DOGE) and other major digital assets for the upcoming year.
Galaxy Digital included its predictions for the leading digital assets and the industry as part of this year's summary. On December 31, the company posted a report on its official website that included the team's perspectives on Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), stablecoins, and meme coins like Dogecoin.
According to Alex Thorn of the Galaxy Digital team, they anticipate that the world's leading meme coin will eventually reach $1 and its market capitalization will reach $100 billion. The $100 billion market capitalization goal is noteworthy because no other meme coin has yet attained it. Dogecoin did, however, experience a price increase in 2021 that briefly brought its market capitalization to $98.7 billion before the token quickly lost value.
Galaxy Digital Anticipates $0.678 For Dogecoin To Hit $100 Billion Market Cap
If the token's market capitalization does eventually reach $100 billion, it will be valued at $0.678, which is still less than its all-time high of $0.739. To reach the $100 billion milestone at a price of $0.678, the token will need to increase in value by 87%.
Despite this, the Galaxy Digital team does not anticipate that $0.678 will be Dogecoin's highest price point for the entire year. According to their projections, Dogecoin will eventually surpass its present all-time high and reach a peak of $1. In this scenario, Dogecoin will have a market valuation of $147.47 billion, representing a 176% increase over its present worth.
Galaxy Digital also included price projections for BTC and ETH in its report.
The Galaxy Digital team also provided their perspectives on other digital assets in the same study, along with price projections for those assets. According to Thorn, Bitcoin will trade above $150,000 in the first half of the year and may test $185,000 in the final quarter. Thorn continued by saying that the top digital asset will benefit from increased institutional adoption.
The research team anticipates that Ethereum will trade above $5,500, adding that the second-largest blockchain will benefit from favorable regulatory conditions for staking and DeFi. Additionally, Ethereum will benefit from the increasing number of companies that will test their Layer 2 network using Ethereum's technology.
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