Close-up of a Dogecoin cryptocurrency coin, on top of other cryptocurrency coins
Comparisons in the crypto market are not unusual, especially given the fierce rivalry that exists between two or more tokens at a time. This report will therefore examine where the price of Dogecoin would realistically be if the market capitalization of the same coin were to reach the current market capitalization of Bitcoin or Ethereum.
Dogecoin with the market capitalization of Bitcoin
Bitcoin, the world’s largest cryptocurrency, has a market capitalization of $521 billion. This is more than 2 times the market capitalization of the second largest cryptocurrency Ethereum and represents approximately half of the total crypto market capitalization. While this is interesting, a more interesting fact is where the price of Dogecoin would be if it reached the market cap of Bitcoin.
CoinGecko’s Coin Comparison feature allows users to enter two different cryptocurrencies and view how much one of them would trade for if they had the market cap of the others. Using this feature, NewsBTC was able to determine how much a single DOGE token with a market cap of $521 billion would cost.
DOGE would trade at $3.70 with Bitcoin's market cap | Source: CoinGecko
A single DOGE token at such a market cap comes to $3.70 per token, an increase of over 59 times (5,900%) from its current price. Conversely, Bitcoin, at Dogecoin’s market cap of $8.8 billion, would price each BTC at $448.
Where will DOGE trade with Ethereum market cap
Ethereum is currently the second largest cryptocurrency in the industry with a market capitalization of $196 billion. With this market cap, the price of Ethereum’s pretty ETH token sits at $1,635 with a circulating supply of 120,225,429 ETH.
Now, using CoinGecko’s coin comparison feature and checking what price Dogecoin would be at if it reached Ethereum’s $196 billion market cap, the meme coin’s price is $1.39.
DOGE would trade at $1.39 with Bitcoin's market cap | Source: CoinGecko
From its current price of $0.06192, this represents a 22x or 2,200% move. On the other hand, if Ethereum fell to DOGE’s market cap of $8.8 billion, the digital asset’s price would trade at just $72.53, a far cry from its current value.
The price differences between the cryptocurrencies mentioned at the same market capitalization come down 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 $8.8 billion market cap | Source: DOGEUSD on Tradingview.com
