Matt Wallace, whose YouTube channel has 248,000 subscribers, believes the $ 1 mark for Dogecoin (CRYPTO: DOGE) is not far away after the re-establishment of the Dogecoin Foundation. Last week, Wallace said that Dogecoin has a higher chance of hitting the elusive $ 1 mark.
What to Know
Wallace noted that with a billionaire like Elon Musk and “one of the brightest minds in the world when it comes to crypto” working with Dogecoin, the price of cryptocurrency will go up “a hell of a lot” is very real.
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Wallace also believes that at least one cryptocurrency – Dogecoin, Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO: ETH) – will overtake gold in terms of market capitalization within this decade.
Dogecoin could eventually hit $ 125 if its market cap hits $ 15 trillion, he noted. Currently, gold’s market capitalization is estimated to be more than $ 10 trillion.
“Of course, to hit the $ 100 mark, an awful lot of things would have to go right,” Wallace said on his YouTube channel, which has 248,000 subscribers. Wallace concluded by stating that Dogecoin was now “inevitable” in exceeding the $ 1 mark.
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Why it matters
Dogecoin currently ranks seventh among the world’s largest cryptocurrencies with a market capitalization of nearly $ 39.7 billion, according to CoinMarketCap data.
The Shiba Inu-themed cryptocurrency has gained an impressive 5,232.25% since the start of the year. It is currently 59.2% below its all-time high of $ 0.7376 that was hit in May.
DOGE course development: Dogecoin is up 1.5% in the past 24 hours and is trading at $ 0.323146 at the time of publication.
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