DOGE could go this high if it gains 1% of total crypto market cap
Dogecoin (DOGE) currently ranks 10th among all cryptocurrencies by market cap. However, capital constantly shifts among projects and in or out of the cryptocurrency market itself. With a market value of $11.40 billion, DOGE holds 0.72% of the entire $1.567 trillion crypto market . Essentially, each Dogecoin is priced at $0.0798, with 142.825 billion DOGE in circulation. In this context, Finbold looked to what would happen to the leading memecoin facing a capital inflow. Supply and demand frequently drive Dogecoin’s price up or down as funds move to and from other cryptocurrencies. Bitcoin, for instance, captures about 52% of the total market cap, boasting a nearly $820 billion valuation. If Dogecoin captured just 1% more of the total crypto market value, its market cap would jump by $15.67 billion, reaching $27.07 billion. This could push DOGE’s price to $0.1895, assuming its circulating supply would stay steady. DOGE market cap vs. the total crypto index Cryptocurre...