What price will Dogecoin trade at if it reaches the market cap of Bitcoin or Ethereum?

Close-up of Dogecoin cryptocurrency coin above other cryptocurrency coins

Comparisons in the crypto market are not uncommon, especially given the fierce rivalry between two or more tokens at the same time. This report will therefore examine where the price of Dogecoin will realistically be if the meme coin’s market cap were to reach the current market cap of Bitcoin or Ethereum.

Dogecoin with the market cap of Bitcoin

Bitcoin, the world’s largest cryptocurrency, has a market capitalization of $521 billion. That’s more than twice the market capitalization of the second-largest cryptocurrency Ethereum and accounts for about half of the total crypto market capitalization. While this is interesting, an even more interesting fact is what Dogecoin’s price would be if it reached Bitcoin’s market cap.

CoinGecko’s coin comparison feature allows users to enter two different cryptocurrencies and see how much one cryptocurrency would trade for if it had the market cap of the other. Using this feature, NewsBTC was able to determine how much a single DOGE token would cost at a market cap of $521 billion.

DOGE would trade with Bitcoin’s market cap at $3.70 | Source: CoinGecko

A single DOGE token at such a market cap costs $3.70 per token, an increase of more than 59x (5,900%) from the current price. Conversely, at Dogecoin’s market cap of $8.8 billion, Bitcoin would put each BTC at a price of $448.

Where will DOGE trade with Ethereum market cap?

Ethereum is currently the second largest cryptocurrency in this space with a market capitalization of $196 billion. With this market cap, the price of Ethereum’s beautiful ETH token is $1,635 with a circulating supply of 120,225,429 ETH.

Now, using CoinGecko’s coin comparison feature and checking the price where Dogecoin would be if it reached Ethereum’s market cap of $196 billion, you come up with a price of $1.39 for the memes -Coin.

DOGE would trade with Bitcoin’s market cap at $1.39 | Source: CoinGecko

From the current price of $0.06192, this represents a 22x or 2,200% move. On the other hand, a drop in Ethereum to DOGE’s market cap at $8.8 billion would result in the digital asset’s price at just $72.53, which would be a far cry from its current value.

The price differences between the mentioned cryptocurrencies with the same market capitalization are due to their circulating supply. Dogecoin has a circulating supply of over 141 billion DOGE, compared to 19.48 million BTC for Bitcoin and 120 million ETH for Ethereum.

DOGE price at $0.06 with a market cap of $8.8 billion | Source: DOGEUSD on Tradingview.com Follow Best Owie on Twitter for market insights, updates and the occasional funny tweet… Featured image from CoinMarketCap, chart from TradingView.com

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