In light of the recent surge in the value of Dogecoin (DOGE), Doge has once again become one of the top 10 cryptocurrencies in the world, with some analysts speculating that it could melt up to $1.0 as soon as this month.
At the last trading, approximately $0.168 per token, Dogecoin’s value, according to CoinMarketCap, has increased by 10% in the past seven days.
In the last 30 days, Dogecoin has witnessed a further impressive rise of 104% in its value.
Dogecoin is not the only coin that has seen its value surge in recent weeks.
Other favorites like Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) have surged between 200-800% in the past 30 days.
The sudden recovery of altcoins is happening at a time when Bitcoin has reached the latest highs of over $70,000.
The arrival of Bitcoin ETFs, which seemingly will not stop, has intensified the already significant risks in the cryptocurrency market.
And while meme coins, famous for their lack of utility and speculative nature, are the riskiest in all of cryptocurrency,.
Is the price speculation of Dogecoin reaching $0.8 possible this month?
In recent days, Dogecoin’s price has remained between $0.155 and $0.185.
Stability is expected due to the rise in profits in the market.
Also Read: Shiba Inu Coin Price Prediction: Technical Analyses – Shib Price $0.00014 Soon
In fact, with Bitcoin confidently above $70,000 and its eyes on another peak, the risks to Dogecoin’s value are tilted upwards.
Some Bitcoin bulls are betting that before the end of next month, cryptocurrencies could reach $100,000 before halving their share.
Who knows if Bitcoin was about to surpass $30,000, who knows how high Dogecoin could go.
A $1 Dogecoin price may seem far-fetched, but looking at the numbers closely reveals how possible it is.
Buy Bitcoin. If it reaches $100,000, its market cap would be around $2 trillion.
Also read: 15 Compelling Reasons Why SHIB Might Reach $0.01: Insights from an Expert
In contrast, if Dogecoin were to reach $1, it would mean a “mere” market cap of $143 billion. This is a daunting 7% of what Bitcoin’s market cap would be at $100,000.
It’s worth remembering that Dogecoin aimed for $0.76 in 2021, reaching a market cap of $85 billion at that time.
It’s also worth noting that, among all meme coins, Dogecoin stands out as an unmatched king.
Not only is it the first major meme coin, but Dogecoin itself runs on a fully functional blockchain.
