Previously we wrote an article about the possibility of dogecoin ever reaching $100 price mark in the future. In short, due to the Inflationary nature of dogecoin, reaching $100 price is realistically not possible. But let’s just forget about $100, is there even a possibility that one day dogecoin would be worth $10?
Dogecoin currently has a supply of around 130 billion and the market cap of $40 billion . In order to reach that $1 price point, the market cap needs to be $130 billion. Similarly, if we do the math, in order to reach the $10 price mark, the market cap needs to be around $1.3 trillion .
As you may know, currently bitcoin has a market cap of around $1 trillion . So to be worth around $10, Dogecoin has to steal the crown from Bitcoin and declare itself as the king of all cryptocurrencies. Which is not an easy task, but not completely impossible.
But you know, Dogecoin is already facing a lot of ups and downs to reach a dollar. So you can say the probability of dogecoin hitting $10 this year is pretty low. But can it reach $10 in the next 10 years?
As mentioned in the previous video, unlike bitcoin dogecoin doesn’t have a limited supply. To keep the network secure and operational, doge blockchain adds 5 billion new coins to its network every year. So in the year 2030, the required market cap for the $10 price mark will increase to $1.8 trillion . The market cap of one of the biggest companies in the world Apple is around $2 trillion right now. So again for dogecoin this milestone is not completely impossible to achieve.
But to reach that 1.8 trillion , just like bitcoin, dogecoin needs to have some major use in the real world. Right now, the main motive of dogecoin is to make us all rich. Which will only happen, if we sell all the dogecoins we’re all holding in the future. If the majority of us sell, the market cap will decrease even more and affect the probability of it ever reaching that $10 price.
So in conclusion, dogecoin reaching $10 price point is mathematically possible. But in order to increase the chance of it ever happening, the majority of us need to change the way we view dogecoin as a cryptocurrency. In other words we need to find some ways to make use of it in the real world, instead of simply buying and selling.
Can Dogecoin Reach $10 In 2021?
Previously we wrote an article about the possibility of dogecoin ever reaching $100 price mark in the future. In short, due to the Inflationary nature of dogecoin, reaching $100 price is realistically not possible. But let’s just forget about $100, is there even a possibility that one day dogecoin would be worth $10?
Dogecoin currently has a supply of around 130 billion and the market cap of $40 billion . In order to reach that $1 price point, the market cap needs to be $130 billion. Similarly, if we do the math, in order to reach the $10 price mark, the market cap needs to be around $1.3 trillion .
As you may know, currently bitcoin has a market cap of around $1 trillion . So to be worth around $10, Dogecoin has to steal the crown from Bitcoin and declare itself as the king of all cryptocurrencies. Which is not an easy task, but not completely impossible.
But you know, Dogecoin is already facing a lot of ups and downs to reach a dollar. So you can say the probability of dogecoin hitting $10 this year is pretty low. But can it reach $10 in the next 10 years?
As mentioned in the previous video, unlike bitcoin dogecoin doesn’t have a limited supply. To keep the network secure and operational, doge blockchain adds 5 billion new coins to its network every year. So in the year 2030, the required market cap for the $10 price mark will increase to $1.8 trillion . The market cap of one of the biggest companies in the world Apple is around $2 trillion right now. So again for dogecoin this milestone is not completely impossible to achieve.
But to reach that 1.8 trillion , just like bitcoin, dogecoin needs to have some major use in the real world. Right now, the main motive of dogecoin is to make us all rich. Which will only happen, if we sell all the dogecoins we’re all holding in the future. If the majority of us sell, the market cap will decrease even more and affect the probability of it ever reaching that $10 price.
So in conclusion, dogecoin reaching $10 price point is mathematically possible. But in order to increase the chance of it ever happening, the majority of us need to change the way we view dogecoin as a cryptocurrency. In other words we need to find some ways to make use of it in the real world, instead of simply buying and selling.