For many, the Bitcoin market cap hitting $10 trillion is seen as solely a matter of time as the worth rises, however what occurs to meme cash like Dogecoin throughout this time? In the previous, these altcoins have outperformed Bitcoin in instances of bullish rallies, and that is anticipated to proceed with every bull cycle. Using previous performances and the DOGE/BTC market cap ratio, Elon Musk’s GROK AI has projected how excessive the Dogecoin worth could be if the Bitcoin market cap hits $10 trillion.
Dogecoin Price To Eventually Cross $1
The AI takes into consideration the present ratio of the Dogecoin market cap relative to that of Bitcoin, and likewise the best level that this ratio has been up to now. Currently, the ratio sits at round 1.76%, however in instances of bullish momentum, this ratio has beforehand risen larger. An instance of that is again within the 2021 bull market.
Back when the Dogecoin euphoria was at its peak, with billionaire Elon Musk personally selling the meme coin, the ratio of the DOGE market cap to Bitcoin rose as excessive as 3.5%. Using this and translating it to a time when the Bitcoin market cap reaches $10 trillion with its worth above $500,000, the AI has been in a position to undertaking how excessive the Dogecoin worth could be.
In instances of utmost bullishness, the place the Dogecoin to Bitcoin ratio rises as excessive as 3-4%, it could imply that the DOGE market cap might rise as excessive as $170 billion. This takes into consideration the inflationary nature of the Dogecoin provide, which the AI takes into consideration. Using a conservative estimate of 151 billion DOGE cash in circulation at a time when the Bitcoin market cap hits $100 trillion.
Since an increase to $10 trillion market cap is a 4.39x from right here for the Bitcoin worth, it’s anticipated that the Dogecoin worth would see an analogous improve. Or in some circumstances, the meme coin might outperform because it has performed up to now. Using this, the AI comes up with each a conservative and a bullish goal for the Dogecoin worth.
In the conservative goal, the Dogecoin worth is sitting at $1.16 with a market cap of $176 billion, whereas the Bitcoin market cap hits $10 trillion. However, within the extra bullish situation, the place the DOGE worth outperforms because it did again in 2021, the AI sees the worth rising as excessive as $2.32, which might be a $350 billion market cap at a circulating provide of 151 billion DOGE tokens. This would imply an 8-10x in distinction to Bitcoin’s 4.39x.
Factors that might drive this outperformance are highlighted, together with social media hype, which has beforehand pushed up the worth. The prospect of rising adoption by means of ETF approvals and DOGE funds additionally components into this. However, the AI additionally highlights the truth that regulatory crackdowns, a decline in meme coin curiosity, and/or Bitcoin sustaining its excessive dominance in the marketplace above 60% might all result in the meme coin’s worth staying beneath $1.
Featured picture from Dall.E, chart from TradingView.com
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