CandleFocus Are $1, $5 and $10 Technically Possible for Dogecoin with 146B Circulating Supply
2024-11-21
Author: Content Editor
The article discusses the potential for Dogecoin (DOGE) to reach higher price levels but explores the challenges posed by its large circulating supply of 146 billion tokens. The coin reached a peak market cap of $98.4 billion in May 2021 but has since dropped, although it has been making a recovery. The growing supply of Dogecoin presents a problem for higher price spikes, as it would require more capital to achieve previous highs. Despite concerns, some analysts predict a possible rally to $1 for Dogecoin. However, reaching higher levels such as $5 and $10 would be more challenging due to the massive capital required and the resulting market caps that would surpass those of Ethereum and approach Bitcoin's valuation.
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