Dogecoin could surge and reach new all-time highs if DOGE equals the market cap of Ethereum or Tether.
Dogecoin investors remain optimistic about DOGE’s potential despite the asset’s recent underperformance. This confidence is reflected in the recent statistics released by leading India-based crypto exchange CoinSwitch.
As reported yesterday, CoinSwitch ranked Dogecoin as the most widely held token on its platform, with 8% of the exchange’s 20 million users owning the token.
Most of these users expect a possible surge in Dogecoin, as seen in the 2020/2021 bull market when DOGE rose by more than 3,000%.
Dogecoin price when it matches Ethereum or Tether valuations
Given this speculation, some investors are wondering what Dogecoin’s price could be if it matches the market cap of established cryptocurrencies such as Ethereum (ETH) and Tether (USDT).
For comparison: With a market capitalization of $46.4 billion, Dogecoin is the seventh largest cryptocurrency in the world. The price is currently $0.3148 per token, up slightly by 0.55%.
However, the asset recorded a double-digit loss of 12.4% in the last seven days. In the hours before press time, 147,385,346,384 (147.38 billion) tokens were in circulation.
Dogecoin price at Ethereum market cap
At the time of writing, Ethereum is the second largest cryptocurrency with a market cap of $401.28 billion. To reach Ethereum’s market cap, Dogecoin will need to rise 764.82% from its current value of $46.4 billion.
If Dogecoin achieves this feat, its price will rise to $2.7224 per token, assuming DOGE maintains its…
