Dogecoin (DOGE) to $45? Meme Coin’s Bold Path to Double Digits

Getting your Trinity Audio player ready...

Michael Saylor, the chairman of MicroStrategy and a well-known Bitcoin advocate, made a bold prediction last year, suggesting that Bitcoin could reach a staggering $13 million by 2045. Speaking to CNBC’s Squawk Box in September 2024, Saylor’s forecast was made when Bitcoin was trading around $58,000—still recovering from a dip below $60,000. Despite Bitcoin’s struggles at the time, Saylor’s unwavering optimism reflects his long-term confidence in the asset.

At the heart of Saylor’s prediction is not just Bitcoin’s growth, but the broader implications for the cryptocurrency market. As a Bitcoin maximalist, Saylor’s bullish stance on the leading cryptocurrency indirectly signals potential growth for altcoins, given Bitcoin’s influence on the entire market. Historically, Bitcoin and altcoins, especially Dogecoin, have followed similar price trajectories, with the top meme coin often amplifying Bitcoin’s movements.

Dogecoin’s Price Correlation with Bitcoin

Looking at recent trends, Dogecoin has mirrored Bitcoin’s price movements. As Bitcoin fluctuates, so does Dogecoin, though with heightened volatility. According to CoinMarketCap, the meme coin has experienced sharp gains and losses in tandem with Bitcoin’s recent ups and downs. This pattern suggests that should Bitcoin soar to $13 million, altcoins like Dogecoin could see enormous benefits, potentially witnessing significant price increases.

What Could Dogecoin’s Price Be at $13 Million Bitcoin?

Currently priced at $0.3325, Dogecoin could witness a 13,693% increase if it mirrors Bitcoin’s anticipated growth. This would push Dogecoin’s price to an impressive $45.86 by 2045. With Bitcoin’s current trajectory showing a 120.9% increase in 2024 and Dogecoin’s even more significant 252.8% rise, this growth forecast remains plausible.

Also Read: Dogecoin Whales Dump 219M DOGE Amid Elon Musk’s D.O.G.E. Downshift: What’s Next for DOGE?

However, market volatility and bear market years could dampen this potential growth. Despite these fluctuations, the projected Compound Annual Growth Rate (CAGR) of 27.9% for both Bitcoin and Dogecoin makes the long-term outlook promising for holders.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.