Dogecoin could surge tremendously to new all-time high targets if DOGE equals the market cap of Ethereum or Tether. 

Dogecoin investors have remained optimistic about DOGE’s potential despite the asset’s recent underperformance. This confidence is reflected in recent stats shared by leading India-based crypto exchange CoinSwitch.

As reported yesterday, CoinSwitch ranked Dogecoin as the most-held token on its platform, with 8% of the exchange’s 20 million users holding the token. 

Most of these users are anticipating a potential surge for Dogecoin, as observed in the 2020/2021 bull run when DOGE surged by more than 3,000%. 

Dogecoin Price If It Equals Ethereum or Tether Valuations 

Amid this speculation, some investors wonder how high Dogecoin’s price could reach if it equals the market cap of established cryptocurrencies like Ethereum (ETH) and Tether (USDT). 

For context, Dogecoin’s market cap of $46.4 billion places it as the seventh-biggest cryptocurrency in the world. It is currently priced at $0.3148 per token, reflecting a slight increase of 0.55%. 

However, the asset has witnessed a double-digit loss of 12.4% in the past seven days. It has a circulating supply of 147,385,346,384 (147.38 billion) tokens in the hours leading up to press time. 

Dogecoin Price at Ethereum Market Cap 

At the time of writing, Ethereum ranks as the second-largest cryptocurrency, with a market cap of $401.28 billion. To reach Ethereum’s market cap, Dogecoin must soar by 764.82% from its current valuation of $46.4 billion.  

If Dogecoin achieves this feat, its price will rise to $2.7224 per token, assuming DOGE maintains its circulating supply of 147.38 billion tokens. Therefore, if its market cap reaches that of Ethereum, Dogecoin will be worth $2.7224 per token. 

This will mark a new all-time high (ATH) for the firstborn memecoin, surpassing the previous value of $0.7376 by 269.08%.  

Price of Dogecoin at Tether Market Cap 

Tether (USDT) remains the world’s largest stablecoin and the third-biggest cryptocurrency globally. At the time of writing, it has a market cap of $138.76 billion. To hit that cap, Dogecoin will have to soar 199.05% from its current valuation. 

Should this materialize, Dogecoin will trade at $0.9414, marking a new all-time high for the token. This speculation assumes that Dogecoin’s circulating supply of 147.38 million tokens remains fairly stable.  

Can Dogecoin Rise to $0.9414 or $2.7224? 

The possibility of Dogecoin hitting targets like $0.9414 or $2.7224 depends on several factors, including a favorable market condition, increased adoption, and continuous endorsements from notable figures like Elon Musk. 

Dogecoin has continuously shown that it has the capacity to register jaw-dropping rallies, as seen last month when it soared over 200% in less than a month. 

In the meantime, top market observers believe Dogecoin could clinch these targets in the next few years. According to experts at Changelly, Dogecoin could trade at a maximum target of $0.9480 by October 2029. Additionally, they expect DOGE’s price to reach $2.77 three years later.  

Even though this analysis looks enticing, it is imperative to approach crypto investing with caution due to the unpredictable nature of the broader market.