Dogecoin Price Prediction as DOGE Approaches USDC Market Cap – $1 Incoming?

cryptonews.com:

The Dogecoin (DOGE) price is attempting to break back to the north of $0.20, with the crypto market’s biggest meme coin rallying in tandem with Bitcoin on slowing GBTC outflows, with DOGE’s market cap approaching USDC’s.

Dogecoin’s market cap was last around $27.8 billion, while total USDC issuance is just over $32 billion.

Dogecoin’s price would need to reach just above $0.22 if Dogecoin is to overtake USDC. That’s could be achieved if DOGE is able to retest its recent highs near $0.23.

USDC is the US dollar-pegged stablecoin issued by US crypto company Circle. USDC is the second largest stablecoin in the world by issuance, lagging only Tether’s USDT.

Dogecoin overtaking USDC’s market cap is purely symbolic, but would be a big milestone for the meme coin. But it suggests that meme coins are likely to remain a key part of the crypto landscape.

With Bitcoin eyeing a breakout of its current multi-week range, risk appetite could soon rise in the meme coin sector.

That means it could only be a matter of time until the Dogecoin price hits new highs for the year.

If Dogecoin is to hit new highs for the year above $0.23 and overtake USDC, calls for it to soon hit $1 will grow once again.

It will be difficult for Dogecoin to achieve 5x growth from current levels this bull market, but not impossible.

Imagine a scenario where BTC breaks above $100,000 in the coming quarters. That would mean Bitcoin’s market cap moving above $2 trillion.

Well, for Dogecoin to reach $1, its market cap would “only” need to grow to around $144 billion. That would only be around 7% of Bitcoin’s market cap.

Let’s also 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