Here is Dogecoin Likely Price if Bitcoin is Able To Reach $1 Million
Dogecoin could see its value approach the double-digit price range in a market where Bitcoin hits the $1 million mark.Dogecoin has often capitalized on Bitcoins momentum, soaring to new highs as Bitcoin enters its price discovery phase. At press time, Dogecoin is hovering around $0.25, boasting a yearly gain of 210%. In comparison, Bitcoin is trading at $96,000, reflecting a year-to-date gain of 115%.As Bitcoin edges closer to reclaiming the $100,000 mark and possibly heading into even higher price ranges, investors are increasingly eyeing Dogecoin as a way to profit from the bullish market.Among the boldest forecasts for Bitcoins future is the prediction of a $1 million valuation, a target set by several prominent experts, including Bernstein.This article explores the conceivable value of Dogecoin if Bitcoin were to hit the $1 million milestone.Top Forecasts for Bitcoin to Hit $1 MillionIn a report released in June 2024, Bernstein argued that Bitcoin could attain a $1 million price by 2033. Meanwhile, business author Robert Kiyosaki has also suggested that Bitcoin could reach $1 million within this decade. Similarly, former Twitter CEO Jack Dorsey has argued for a $1 million Bitcoin by 2030.Currently hovering at $96,000, Bitcoin would need to increase by 941% to hit $1 million. At that price, Bitcoins market capitalization would approach $20 trillion, far surpassing the current total value of gold. Such a surge would likely boost the altcoin market as well. If Bitcoins market cap reaches $20 trillion, the altcoin market could increase similarly. In particular, the entire cryptocurrency market could have an over $40 trillion valuation, considering BTC's over 50% dominance.Dogecoin (DOGE) Value If Bitcoin Reaches $1 MillionPredicting Dogecoins price if Bitcoin hits $1 million is not straightforward. However, assuming Dogecoins value grows in proportion to Bitcoins, a 941% increase from its current price of $0.25 would push its value to approximately $2.60. At this price, Dogecoin's market cap would be around $382 billion.This calculation likely underestimates the meme coin's potential in a crypto market where BTC is worth $1 million or has a $20 trillion cap. For instance, Dogecoin has historically outpaced Bitcoin in growth. While Bitcoin boasts a yearly growth of 115%, Dogecoin has seen a more impressive 210% surge.Moreover, some analysts believe that Dogecoin could even reach $10 in the current market environment, possibly by the end of this year.According to Telegaon, Bitcoin could be worth a minimum of $13 by 2030the same year many expect Bitcoin to hit $1 million. Telegaon also argues for a maximum price of $18 for DOGE by 2030.Essentially, this suggests that Dogecoin could see an upside far exceeding Bitcoins projected 941% increase.
Text source: The Crypto Basic
