Dogecoin’s value could see a huge enhance if the leading cryptocurrency reaches Bitcoin and Ethereum market capitalization. It is worth noting that DOGE is already among the top 10 cryptocurrencies by market capitalization and has achieved higher valuations in the past.

Dogecoin value if it matches the market capitalization of Bitcoin and Ethereum

MarketCapOf data shows that Dogecoin’s value could enhance by 98.50x if it reached Bitcoin’s $1.4 trillion market cap. This will bring the top meme coin to $9.32, marking the fresh price highest level ever (ATH) for DOGE, with a current ATH of $0.74, achieved in 2021.

Meanwhile, further data from MarketCapOf shows that Dogecoin’s value could enhance by 18.63x if it reached Ethereum’s $270 billion market cap. This will give DOGE a price of $1.76, which means a fresh ATH for the premier meme coin. It is worth noting that cryptocurrency analysts such as Trader Tardigrade predicted that the meme coin may rise above psychological levels in the next bull run.

However, Dogecoin will not reach a fresh all-time high if it were to achieve one XRP market capitalization worth $84 billion, with XRP being the third-largest crypto asset excluding stablecoins. MarketCapOf data shows that DOGE would trade at $0.55 if it achieved a market capitalization of $84 billion.

Interestingly, DOGE reached a peak market capitalization of $80 billion when it rose to its current ATH of $0.74 last year. Running of the Bulls in 2021. However, its total supply has increased significantly since then. Therefore, a similar market capitalization of $80 billion implies a lower price for Dogecoin as its supply has been largely diluted.

The real rally for DOGE will begin soon

CW cryptocurrency analyst said in a survey Post X that the real rally for Dogecoin will begin soon. This came after the analyst noticed that DOGE was waiting on the starting line and that gold crosses would soon appear on the sub-indicators. This is shown in the attached table Dogecoin price could rise above $1 by the end of the year, marking a fresh ATH for the leading meme coin.

Cryptocurrency analyst Also stated by Composite Trader that there is a substantial move for Dogecoin on the horizon. The analyst noted that the price had fallen for 60 days in a row, making higher lows and creating liquidity on the sell side, while building lower highs and creating liquidity on the buy side. The premier meme coin could see a significant upside surge, especially in the case of USA and Iran agreed to a two-week ceasefire.

Related reading: Here are the main levels to watch after Dogecoin price ended with a tidy rejection of Kumo

At the time of writing, Dogecoin is trading at around $0.095, up over 4% in the last 24 hours, according to data from CoinMarketCap.

Featured image from iStock, chart from Tradingview.com