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A house. That’s what Billy Markus, also known as Shibetoshi Nakamoto, sees on the horizon if Dogecoin (DOGE) experiences another 500% surge. As one of the creators of the major meme cryptocurrency, Markus knows the currency’s unpredictable highs and lows better than most.
At its current price of $0.38, DOGE has a market capitalization of $56.23 billion. These figures are impressive, but they are still a long way from its all-time high. Back in May 2021, it hit a peak of $0.7376, boosting its market cap to $89.08 billion.
Tomiwabold OlajideTo reach 500% of that, the coin would need to hit $2.28, which would mean a mind-boggling market cap of around $336 billion — a level few cryptocurrencies have ever reached.
Is this realistic expectation?
Well, that depends. Dogecoin has always been influenced by forces that go beyond traditional market dynamics. Social media trends, celebrity endorsements and community enthusiasm have propelled it forward before, often defying expectations. When it surged in 2021, the spike was rapid, dramatic and driven by viral momentum. But sustaining that kind of growth is a complex challenge.
Vladislav SopovThe whole cryptocurrency market also has a say in it. For Dogecoin to climb so drastically, we would need a combination of favorable market conditions, increased adoption and strengthened investor confidence. Maybe even a DOGE ETF would be needed. Without these things, the 500% surge is probably just wishful thinking.
But it's important to remember that DOGE was not designed to follow the usual path. It started as a joke, but it now has cultural and financial weight that few could have predicted.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
Vladislav Sopov