Doge could increase 900% in a few hours, says Martínez.
Many analysts expect that Doge can reach 1 dollar in this upward cycle.
Just four years ago, Memecoin Dogecoin (Doge) registered a price increase of 900% in 48 hours from January 28 to 29, 2021. This is something that, according to analyst Ali Martínez, could happen again.
“How to bet on the price of Doge when, at any time, it could increase almost 900% by just 48 hours, as did in 2021?” has exclaimed through your X account.
Currently, Dogecoin quote USD 0.32, which means With an increase of 900% its price would become USD 3.20.
However, it is crucial to consider that when this percentage increased in 2021, Doge market capitalization was much less than the current one. At that time, this era of USD 1,000 million is currently USD 48,500 million.
In other words, Commerce volumes are required significantly higher than those of 2021 so that Doge receives a price increase So. This makes it unlikely that memecoin can be valued 900% in two days as on that occasion, as can be found in the following graphic.
If the price of Doge rose 900% to USD 3,20, its market capitalization would become USD 485,000 million. That is to say, It would exceed the current capitalization of Ether (ETH), the Ethereum cryptocurrencywhich with a sum of USD 381.4 billion is the largest cryptoactive after Bitcoin (BTC).
Anyway, for Martínez, this panorama does not rule out the possibility of such appreciation. “If market capitalization matters, can you explain why XRP market capitalization is greater than Blackrock’s, the world’s largest asset manager?” He says about it.
With this comment, the analyst questions the logic of using market capitalization as a determining metric of an asset’s price behavior. It suggests in this regard that factors such as speculation and community support for cryptocurrencies often exceed traditional financial rules.
By contrasting the capitalization of the XRP cryptocurrency (UD 182.5 billion), higher than that of Blackrock (USD 163,000 million), it assumes that the cryptocurrency market follows its own dynamics where extreme movements are possible. That is why, in his opinion, it is expected a strong increase for Doge’s price before the current environment.
Donald Trump and Elon Musk favor Doge
The fact that Donald Trump has launched his own memecoin two days before his presidential assumption in the United States a week ago elevates optimism for the market. According to various specialists reported by cryptootics, such as Juan Rodríguez, this will promote other celebrities to emit their meme cryptocurrency.
The possibility of greater demand in the Memecoins market is expected to such a context, something that could benefit Dogecoin as the favorite dog of the niche. In addition, Trump plans to convert the United States into the capital of the cryptocurrency industry and ordered the evaluation of integrating digital assets into a national reserve, which can motivate this scenario.
The Trump government also created an efficiency department to optimize state expenses, whose acronym are doge. The body is in charge of the billionaire businessman Elon Musk, great enthusiastic of the memecoinwhich is a positive wink for the market.
“We will take Doge to Mars,” Elon Musk said in a speech he gave during Trump’s possession. The Memecoin market responded up with the statement, which reminds what the businessman said four years ago.
In 2021, Musk comments and initiatives related to Dogecoin generated strong price increases in the memecoin. Therefore, similar situations could be given again in this context, where bydist expectations for Bitcoin and cryptocurrencies are maintained.
In spite . In this sense, Dogecoin shows weakness in the sector, indicating inherent risks.
In a more cautious way to Martínez, other analysts have been bullish with Dogecoin projecting that Its price could reach the USD 1 psychological goal. This is a figure that the market expected it to arrive in 2021, so it will be necessary to see if this cycle meets these already legendary expectations of its community.
