Dogecoin’s Market Cap Will Grow To $1.32 Trillion If The Coin Gets To $10
Yes, Dogecoin can reach $10.
However, there is one problem – a sufficient amount of money should be put into Dogecoin to get the meme coin to the $10 level.
Here’s the math. The current circulating supply of Dogecoin is roughly 131.56 billion DOGE. If Dogecoin were to reach $10 today, its market capitalization would be about $1.32 trillion.
It should be noted that Dogecoin’s circulating supply is increasing by 5 billion every year, which means that some inflation is built into the coin. However, this inflation decreases over time due to the fixed nature of the added supply.
According to CoinMarketCap, the total crypto market capitalization is $2.17 trillion. The market capitalization of the world’s leading cryptocurrency, Bitcoin, is roughly $930 million. The second largest cryptocurrency by market capitalization, Ethereum, is worth $400 million.
Thus, a Dogecoin at $10 would be worth Bitcoin and Ethereum combined, which means that Dogecoin must replace these cryptocurrencies if the total market capitalization remains at current levels. At this point, this does not look plausible.
Dogecoin’s Success Will Depend On The Success Of The Whole Industry
Total crypto market capitalization is trending higher as adoption of cryptocurrencies grows. As cryptocurrencies gradually become mainstream financial assets, the total crypto market capitalization will continue to grow.
Currently, the market capitalization of Dogecoin represents about 1.4% of total