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Simple math suggests that a price per token of $1 would give Dogecoin a market capitalization of $147.1 billion. That isn't entirely impossible considering Bitcoin now has a market cap of $2 trillion.
Dogecoin currently has a market cap of $18.5 billion, but that figure would need to soar to $154 billion (assuming its supply remains constant) for its price to hit $1.
What could fuel Dogecoin to $1? As the chart above clearly shows, Dogecoin's ascent in 2021 was short-lived. Over the last few years, the price of Dogecoin has hovered around $0.10 -- and even ...
Dogecoin was officially launched on December 6, 2013, and within the first 30 days, there were over 1 million visitors to Dogecoin.com. [13] Palmer is credited with making the idea a reality. At the time, he was a member of the Adobe marketing department in Sydney , Australia. [ 14 ]
In more than a decade, Dogecoin has never once hit the $1 mark. That brief period in May 2021, when Dogecoin hit a price of $0.74, was the only time it ever came close.
Monetization of digital assets as NFTs became possible with the release of Etheria, on the Ethereum blockchain, in 2015. [1] From late 2017, the NFT market grew quickly. [2] In the first three months of 2021, NFTs worth US$200 million were traded. [3] One of the earliest NFT projects, CryptoPunks, [4] has provided several of the most expensive ...
As I pointed out, the primary reason Dogecoin's price has risen as of late all stems from rumors of a new government agency led by Musk and funny memes that have fueled this narrative online.
Not even Musk can help Dogecoin sustain a price above $1. Based on Dogecoin's current supply of 146.8 billion tokens and its current price of $0.40 per token, it currently has a market ...