As a seasoned crypto investor with a knack for spotting trends and a penchant for the unconventional, I find Jeremie Davinci’s prediction intriguing, to say the least. Having witnessed the meteoric rise of Bitcoin from its humble beginnings, I can attest to the power of collective belief and the potential of the crypto market to defy expectations.
Early Bitcoin adopter Jeremie Davinci has taken to his account on the X social media giant (formerly known as Twitter) to share his take on what he believes meme coins, including flagships Dogecoin and Shiba Inu, can reach in this market cycle in terms of market capitalization value.
He made quite a bold prediction that is likely to make meme coin investors happy.
During the previous market surge, Dogecoin, an early Bitcoin millionaire’s favorite meme coin, reached a staggering market capitalization of approximately $88.8 billion. Meanwhile, the second most popular meme cryptocurrency, Shiba Inu, saw its market cap peak at around $40 billion.
Davinci predicts that during this current phase, meme coins collectively could potentially achieve a massive market value of around $1 trillion – slightly less than where Bitcoin’s market cap stands now, estimated at approximately $1.32 trillion, based on data from CoinMarketCap.
In the previous cycle, the Dogecoin (DOGE) reached a market capitalization of approximately $88.8 billion, while Shiba Inu (SHIB) touched around $40 billion. I have a feeling that this time around, the value of meme-based assets as a class could potentially surge up to nearly a trillion dollars in market cap.
— Davinci Jeremie (@Davincij15) October 17, 2024
Over the last 24 hours, Dogecoin, the original meme cryptocurrency, experienced a 5% drop following its impressive 14% rise this week. This decline brought the price down from its recent local peak of $0.12835 to the current trading price of $0.12202. As of now, Dogecoin’s market capitalization stands at approximately $17.8 billion.
Regarding SHIB, currently its market value is approximately $10,533,255,950. At present, each unit of this dog-themed coin costs around $0.00001800. Compared to the previous day, it has experienced a reduction of 6.64%, but today there’s been a slight improvement in its losses.
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2024-10-17 18:37