Here’s How Much The Dogecoin Price Will Be With The Market Cap Of Solana

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As a seasoned crypto investor with a decade of experience under my belt, I have witnessed the rollercoaster ride that is the cryptocurrency market. The current race between Dogecoin (DOGE) and Solana (SOL) has piqued my interest, especially since they are so closely ranked by market cap.

Dogecoin and Solana rank among the biggest cryptocurrencies based on market capitalization, occupying near-equal positions within the top echelons of the market. Only Binance Coin (BNB) stands between them. In the last month alone, the market values of both digital currencies have significantly grown.

Currently, Solana stands with a market capitalization of approximately $104 billion and is being traded around the $220 mark. Contrastingly, Dogecoin is valued at about $0.41 per coin and has a market capitalization of roughly $59.5 billion. This means that Dogecoin needs to gain more value in order to surpass Solana in terms of market cap rankings.

How Much Will Dogecoin Be If It Reaches Solana’s Market Cap?

Over the past month, Solana’s market capitalization has experienced a notable boost of approximately 43%. This rise can be attributed to growing investor interest and favorable market conditions. Yet, this growth pales in comparison to Dogecoin, which has seen an astounding surge of over 250% within the same period. The price of Dogecoin, often associated with internet memes, has more than doubled in just four weeks, reaching a new high point due to heightened enthusiasm surrounding the coin.

Presently, Dogecoin’s market capitalization is roughly half of Solana’s. But given recent market trends, it appears that Dogecoin could potentially bridge the gap further. By doing some calculations, if Dogecoin aims to match Solana’s current market cap, its price would approximately need to rise to $0.7053. This means a potential increase of 76% from its current value if Solana maintains its position. Remarkably, this growth could cause Dogecoin’s market cap to surpass Binance Coin (BNB) in the process.

It’s become increasingly plausible that Dogecoin could reach around $0.70, as this value is quite close to its all-time high of $0.7316, a level that enthusiasts (the “bulls”) are currently aiming for.

How Feasible Is The Race For DOGE?

Regardless of whether the Solana market cap consolidates or continues to increase from here, the current market pace suggests Dogecoin is still going to overtake Solana in market cap. This would not only be a notable milestone for DOGE, but it would create a new price all-time high, and also a new milestone for the meme coin community.

Regarding current records, Dogecoin is approximately 79% short of setting a new record high. As per well-known crypto analyst Ali Martinez’s analysis, Dogecoin might potentially surge towards $2.40 or higher.

According to data from the on-chain analytics platform Santiment, meme coins are currently seeing exceptionally high levels of participation and enthusiasm among crypto market participants. Moreover, it appears that the recent surge in Dogecoin’s price is being fueled by retail investors who are increasingly favoring meme coins as Bitcoin becomes more expensive for the average investor.

Here’s How Much The Dogecoin Price Will Be With The Market Cap Of Solana

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2024-11-15 09:41