Heres New Dogecoin Price if Bitcoin Market Cap Hits $61T as Predicted By VanEck

Dogecoin could surge to a double-digit price if VanEcks bold projection of a $61 trillion market cap for Bitcoin comes to fruition. Despite the recent bloodbath across the crypto market, investors are taking solace in some of the optimistic predictions issued for assets like Bitcoin. VanEck Sees Bitcoins Market Cap Hitting $61T By 2050 Specifically, leading asset manager VanEck projected that Bitcoins market cap could rise to a staggering $61 trillion by 2050. The company envisions Bitcoin being a major part of global trade, settling 10% of international and 5% of domestic transactions. If Bitcoin achieves a market cap of $61 trillion by 2050, it would drive its price to around $2.9 million per coin. VanEcks $61 trillion projection for Bitcoin represents a surge of 3,162% from the current valuation of $1.87 trillion. Dogecoin Correlation with Bitcoin Expectedly, VanEcks bold forecast has sparked debates about how such a monumental surge in Bitcoins market cap could impact other cryptocurrencies, including Dogecoin. Like other crypto assets, Dogecoin has a strong correlation with Bitcoins price movements. It soars whenever Bitcoin witnesses a rally and dips anytime the premier asset plunges. According to data from IntoTheBlock, Dogecoins correlation with Bitcoin stands at 97% over the past 30 days and 95% in the past two months.

Dogecoin correlation with Bitcoin

Dogecoin Price if Bitcoin Hits $61T Valuation Therefore, if Bitcoin reaches a $61 trillion market cap, it could significantly impact Dogecoin, assuming both assets remain closely correlated. Should Dogecoins market cap experience the same surge of 3,162% as Bitcoin, its valuation will rise to $1.61 trillion from the current value of $49.44 billion. This will potentially take Dogecoins price to $10.9, marking a new all-time high for the firstborn meme coin. To demonstrate the significance of this monumental leap for Dogecoin, a portfolio of 10,000 DOGE, which costs around $3,352 at the current price of $0.3352, will be valued at $109,000. Other $10 Forecasts The $10 projection has recently gained prominence within the Dogecoin community. Last month, renowned market expert Dima James Potts forecasted that Dogecoin will reach the $10 target this cycle, specifically between February 11 and May 7, 2025. Similarly, prominent crypto chartist Ali Martinez believes that Dogecoin is capable of trading at $10 in its lifetime, referencing a technical analysis that could take DOGE price to the target. However, Martinez did not set a timeline for when this prediction could play out. Interestingly, Changelly experts speculate that Dogecoin will trade around the $10 mark by January 2040, approximately 15 years from now. By then, these experts expect Dogecoin to trade between $9.35 and $11.19 per token. Meanwhile, besides Dogecoins correlation with Bitcoin, other factors like adoption, macroeconomic trends, and geopolitical events could play significant roles in determining whether DOGE will hit the $10 mark in its lifetime.

Text source: The Crypto Basic

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