Dogecoin (DOGE) Price Prediction 2023: Will DOGE Hit $500M, $1T, or $2T Market Cap?

The recent price surge in Dogecoin has reignited investors' hopes about its potential rally to valuations like $500 million, $1 trillion, or $2 trillion.

Recent price gains in Dogecoin have reignited investors’ hopes about its potential rally to valuations like $500 billion, $1 trillion, or $2 trillion.

Data from CoinMarketCap shows that Dogecoin’s price has soared 3.47% in the past 24 hours, pushing the asset above the $0.17 mark. At the current price of $0.1735, DOGE is up 5.53% from its daily low of $0.1736.

As expected, Dogecoin’s renewed rally has reignited investors’ optimism in the premier meme coin’s potential. Consequently, some users speculate that Dogecoin could soar to ambitious market caps like $500 billion, $1 trillion, or $2 trillion someday.

Based on these projections, The Crypto Basic estimated how much 1 DOGE would be worth if any of these forecasts come to fruition.

Growth Required for DOGE to Hit $500B, $1T, or $2T Valuations

With DOGE currently trading at $0.1735 per token, its market cap is $25.89 billion. This makes Dogecoin the eighth-biggest cryptocurrency by market capitalization.

However, DOGE has not reached any of the projected market caps—$500 billion, $1 trillion, or $2 trillion—in its lifetime. It registered its peak valuation of around $88 billion on May 8, 2021, when its price reached an ATH of $0.7376.

Since then, Dogecoin has failed to revisit the level or attain the $100 billion mark as forecasted by Jake Gagain.

Hitting the $500 billion market cap from the current level of $25.89 billion demands a surge of 1,831%. Similarly, Dogecoin’s valuation must grow 3,762% or 7,625% to clinch the $1 trillion or $2 trillion valuations.

DOGE’s Price at $500B, $1T, or $1T Market Caps

More so, the $500 billion valuation translates to a price of $3.35. Similarly, the $1 trillion or $2 trillion valuation would see each DOGE token trade at $6.7 or $13.4, assuming Dogecoin’s supply remains constant at 149.16 billion.

If DOGE’s price increases to $3.35, $6.7, or $13.4, a portfolio of 100,000 Dogecoins would be valued at $335,000, $670,000, or $1.34 million. It is worth mentioning that these 100,000 DOGE tokens are currently worth $17,350 today.

When Can DOGE Reach $3.35, $6.7, or $13.4

According to Changelly analysts, Dogecoin could reach the $3.36 target by October 2033. They expect it to climb further to about $6.7 between 2035 and 2039 and finally clinch the ambitious mark of $13.4 by early 2040.

On the other hand, Telegaon provided closer timelines for these targets to become a reality. Telegaon prediction platform forecasts that Dogecoin will rise to the $3.35 mark by 2027, six years earlier than Changelly’s timeline.

The prediction platform expects Dogecoin to reach the $6.7 milestone the following year, and eventually hit the $13.4 target by 2030, five years from today.

Although these milestones seem ambitious, they illustrate the scale of appreciation enthusiasts expect Dogecoin to reach if DOGE maintains its recent momentum, accompanied by strong retail and institutional demand.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.