Few years ago, it was kind of a pipe dream to imagine that one day dogecoin would be worth $1 in the future. But now as you know, it’s just a matter of time before it reaches that milestone. The hype is growing more and more every single day. But with the hype, people’s expectations are also increasing rapidly.
Now people are no longer asking if it’s possible for dogecoin to reach a dollar. The question in many people’s, especially newcomers’ mind is, whether it is possible for dogecoin to grow even more to reach $10 or even $100 price marks .
I mean other cryptos like bitcoin is now worth more than $50000 or Ethereum is now worth $2300. So what’s stopping dogecoin from reaching $100?
Well, there’s one big problem.
Unlike bitcoin, dogecoin doesn’t have a limited supply. In order to keep the network secure and operational, doge blockchain adds 10,000 new coins every minute or you can say more than 5 billion new coins every year to its network.
Right now, dogecoin has a supply of around 130 billion and a market cap of $35 billion USD. So if we do the math, to reach the $1 price mark, the market cap needs to be around 130 billion dollars. Which is not that crazy high and it’s achievable.
Just like that for dogecoin to be worth $100, the market cap needs to be 13 trillion dollars. In this case it’s not a small number. GDP of every country combined is only $87 trillion dollars and the market cap of Apple is around 2 trillion dollars.
That’s not it. As I mentioned before, the supply of dogecoin doesn’t have a limit. In 10 years the required market cap of 13 trillion dollars will increase to 18 trillion dollars. That number is greater than the GDP of the world’s second largest economy China.
So realistically, it’s fair to say that dogecoin hitting $100 price is almost not possible.
But some legend once said, nothing is impossible.
So maybe one day every country would ignore their traditional currencies and accept dogecoin as a common currency for our planet Earth. That day, I’m pretty sure no one can stop dogecoin from crossing that $100 price mark.
Can Dogecoin Reach $100?
Few years ago, it was kind of a pipe dream to imagine that one day dogecoin would be worth $1 in the future. But now as you know, it’s just a matter of time before it reaches that milestone. The hype is growing more and more every single day. But with the hype, people’s expectations are also increasing rapidly.
Now people are no longer asking if it’s possible for dogecoin to reach a dollar. The question in many people’s, especially newcomers’ mind is, whether it is possible for dogecoin to grow even more to reach $10 or even $100 price marks .
I mean other cryptos like bitcoin is now worth more than $50000 or Ethereum is now worth $2300. So what’s stopping dogecoin from reaching $100?
Well, there’s one big problem.
Unlike bitcoin, dogecoin doesn’t have a limited supply. In order to keep the network secure and operational, doge blockchain adds 10,000 new coins every minute or you can say more than 5 billion new coins every year to its network.
Right now, dogecoin has a supply of around 130 billion and a market cap of $35 billion USD. So if we do the math, to reach the $1 price mark, the market cap needs to be around 130 billion dollars. Which is not that crazy high and it’s achievable.
Just like that for dogecoin to be worth $100, the market cap needs to be 13 trillion dollars. In this case it’s not a small number. GDP of every country combined is only $87 trillion dollars and the market cap of Apple is around 2 trillion dollars.
That’s not it. As I mentioned before, the supply of dogecoin doesn’t have a limit. In 10 years the required market cap of 13 trillion dollars will increase to 18 trillion dollars. That number is greater than the GDP of the world’s second largest economy China.
So realistically, it’s fair to say that dogecoin hitting $100 price is almost not possible.
But some legend once said, nothing is impossible.
So maybe one day every country would ignore their traditional currencies and accept dogecoin as a common currency for our planet Earth. That day, I’m pretty sure no one can stop dogecoin from crossing that $100 price mark.