The comparison in the cryptocurrency market is not uncommon, especially considering the intense competition that occurs simultaneously between two or more tokens. Therefore, this report will investigate what the actual price of Dogcoin would be if the market value of Dogcoin reached the current market value of Bitcoin or Ethereum
The comparison in the cryptocurrency market is not uncommon, especially considering the intense competition that occurs simultaneously between two or more tokens. Therefore, this report will investigate what the actual price of Dogcoin would be if the market value of Dogcoin reached the current market value of Bitcoin or Ethereum.
The market value of Dogecoin is equivalent to Bitcoin
Bitcoin is the world's largest cryptocurrency with a market value of $521 billion. This is more than twice the market value of Ethereum, the second largest cryptocurrency, accounting for approximately half of the total market value of cryptocurrencies. Although this is interesting, the more interesting fact is what the price of Dogecoin would be if it reached the market value of Bitcoin.
CoinGecko's coin comparison feature allows users to enter two different cryptocurrencies and display how much money they can trade if they have the market value of other cryptocurrencies. By utilizing this feature, NewsBTC has been able to determine the value of a single Doge token at a market value of $521 billion.
At this market value, the price of a single Doge token is $3.70, which is more than 59 times (5900%) higher than the current price. On the contrary, if the market value of Bitcoin's Dogecoin coin is $8.8 billion, the price of each BTC is $448.
Where will Doge trade with Ethereum's market value
Ethereum is currently the second largest cryptocurrency in the field, with a market value of $196 billion. Based on this market value, the price of Ethereum ETH tokens is $1635 and the circulation is 120225429 ETH.
Now, use CoinGecko's currency comparison function and check that if Dogecoin reaches Ethereum's market value of $196 billion, the price of meme coins will be $1.39.
From the current price of $0.06192, the price has increased by 22 times or 2200%. On the other hand, if Ethereum drops to Doge's $8.8 billion market value, the transaction price of the digital asset is only $72.53, which is far from its present value.
The price difference between cryptocurrencies with the same market value depends on their circulating supply. The circulation supply of Dogecoin exceeds 141 billion Doge, while the circulation supply of Bitcoin is 19.48 million BTC, and the circulation supply of Ethereum is 120 million ETH.
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