With Altcoin season either being in full swing or upon us depending on how one perceives it, many altcoins have seen massive gains this past week, DOGE was one of the more passive altcoins in the top 100 until this recent surge that has seen the price increase in value by 30% over a period of one week.
This is a hugely significant moment in the coin’s history as it is the first time it has ever reached these prices. For many, there were doubts as to how high this coin could rise considering how well it has done already this past 6 months. However, it looks like all bets are off now and that the price of DOGE can still go to the moon.
Dogecoin’s Market Cap On The Brink Of 10 Billion USD
The market cap is a reflection of how much money has been invested in a cryptocurrency and it ultimately affects the price. For quite some time now the market cap of DOGE was hovering around the $6 billion mark but this week has seen it at the time of writing nearly break the $10 billion mark.
Just in case you were thinking that this seems too good to be true and there can’t be much room for growth left you might be shocked to know that the current value of Bitcoin is at $1.1 trillion dollars. If DOGE in the future could represent 1% of this value it would represent an insane investment for anyone.
