Emily Walker
Dogecoin and Solana are among the top cryptocurrencies by market capitalization, with BNB as the only coin ranking in between them. Both have experienced substantial growth in market caps over the last month.
Currently, Solana boasts a market cap of $104 billion, with its trading price around $220. In contrast, Dogecoin is priced at $0.41 and has a market cap of $59.5 billion, indicating it has a bit of ground to cover to surpass Solana.
If Dogecoin Matches Solana’s Market Cap, What Will Its Price Be?
In the last month, Solana’s market cap rose impressively by 43%, fueled by positive market trends and increasing interest. Meanwhile, Dogecoin has made an even more remarkable move, with its price skyrocketing over 250% within the same timeframe due to a surge in enthusiasm surrounding the meme coin.
Presently, Dogecoin’s market cap stands at approximately 57% of Solana’s. Market trends indicate that Dogecoin could be on track to close this gap. Calculating the figures reveals that Dogecoin would need to trade at about $0.7053 to match Solana’s current market cap. This would mean an approximate 76% price jump from its existing value to become the fourth-largest cryptocurrency. Notably, this increase would also allow Dogecoin to surpass BNB’s market cap.
The target of reaching $0.70 appears achievable, especially since it’s slightly below Dogecoin’s all-time high of $0.7316, which investors are now eyeing.
Is the Race for DOGE Realistic?
Whether Solana’s market cap stabilizes or continues to grow, current market trends indicate that Dogecoin is likely to surpass Solana’s value. This would not only be a significant achievement for Dogecoin but also set a new price record and mark a milestone for the meme coin community.
Currently, Dogecoin is just 79% away from establishing a new all-time high. According to popular crypto analyst Ali Martinez, Dogecoin is on a trajectory that could lead it to reach at least $2.40.
This optimistic perspective is supported by data from Santiment, an on-chain analytics firm, which shows that meme coins are witnessing the highest engagement levels from market participants. Additionally, the rally in Dogecoin’s price can be attributed to retail investors showing increased interest in the meme coin as Bitcoin’s prices rise.