The Dogecoin (DOGE) value is trying to interrupt again to the north of $0.20, with the crypto market’s greatest meme coin rallying in tandem with Bitcoin on slowing GBTC outflows, with DOGE’s market cap approaching USDC’s.
Dogecoin’s market cap was final round $27.8 billion, whereas whole USDC issuance is simply over $32 billion.
Dogecoin’s value would want to achieve simply above $0.22 if Dogecoin is to overhaul USDC. That’s might be achieved if DOGE is ready to retest its latest highs close to $0.23.
USDC is the US dollar-pegged stablecoin issued by US crypto firm Circle. USDC is the second largest stablecoin on this planet by issuance, lagging solely Tether’s USDT.
Dogecoin overtaking USDC’s market cap is solely symbolic, however could be an enormous milestone for the meme coin. Nevertheless it means that meme cash are prone to stay a key a part of the crypto panorama.
With Bitcoin eyeing a breakout of its present multi-week vary, danger urge for food may quickly rise within the meme coin sector.
Meaning it may solely be a matter of time till the Dogecoin value hits new highs for the 12 months.
Dogecoin Value Prediction – $1 Incoming?
If Dogecoin is to hit new highs for the 12 months above $0.23 and overtake USDC, requires it to quickly hit $1 will develop as soon as once more.
It will likely be tough for Dogecoin to realize 5x progress from present ranges this bull market, however not not possible.
Think about a state of affairs the place BTC breaks above $100,000 within the coming quarters. That will imply Bitcoin’s market cap shifting above $2 trillion.
Properly, for Dogecoin to achieve $1, its market cap would “solely” must develop to round $144 billion. That will solely be round 7% of Bitcoin’s market cap.
Let’s additionally assume that as Bitcoin breaks above $100,000 and its market cap above $2 trillion, its dominance declines.
Say its dominance declines to 40% (from the present 50%). It’s possible that the cryptocurrency market cap excluding Bitcoin may attain round $3 trillion on this state of affairs.
A market cap of $144 billion would put Dogecoin at below 5% of the crypto market cap, excluding Bitcoin.
These are usually not unrealistic progress numbers for the world’s hottest and well-known meme coin. Within the wild crypto markets, something can occur.
Merchants shouldn’t rule out $1 dogecoin in 2024 or 2025.
Higher Meme Coin Different to Take into account – Sponge (SPONGE)
Dogecoin may 5x or extra this bull market. However many meme coin buyers will probably be concentrating on larger upside of 50x or extra.
Such buyers ought to seek for thrilling new meme coins with a lot decrease market caps, and numerous viral potential.
A meme coin known as Sponge ($SPONGE) suits this invoice completely, after launching its V2 on Polygon earlier this 12 months.
The unique Sponge token practically hit a market cap excessive of $100 million final 12 months.
Nevertheless, the token migrated to Polygon to utilize its decrease charges and sooner transactions a month in the past. And the migration to Polygon has ignited a surge within the $SPONGE value.
$SPONGE hit a market cap of as a lot as $160 million in March. It’s since fallen again to a market cap of round $80 million, providing buyers the prospect to purchase the dip.
Sponge isn’t simply any outdated utility-lacking meme coin.
The thrilling new meme coin gives a passive revenue alternative and in addition features because the native token of a play-to-earn (P2E) racing recreation.
Do not forget, #SPONGERS! 🧽💦#SpongeV2 is bringing thrilling utility via our upcoming #P2E recreation! 🔥
Get able to earn $SPONGE tokens by taking part in the sport and rating on the leaderboard.
Keep tuned for more information! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
Sponge patrons who stake their tokens can secure yields of up to 368%, as per the official Sponge web site.
In the meantime, the P2E recreation will see gamers competing towards one another for ranks on a worldwide leaderboard. Racing rewards are paid out in SPONGE V2.
However maybe probably the most thrilling factor about Sponge is that it’s nonetheless tremendous early to get into the coin.
Meme cash like Bonk, Dogwifhat, and Pepe have proven how an upstart meme coin can attain a multi-billion-dollar market cap.
The thrilling new meme coin’s web site can be teasing that it’s going to quickly launch on greater and higher exchanges, which may convey a wave of recent patrons to $SPONGE.
At a market cap of simply $80 million, Sponge buyers might be 50x good points.
Disclaimer: Crypto is a high-risk asset class. This text is supplied for informational functions and doesn’t represent funding recommendation. You might lose your entire capital.
