Dogecoin Founder has reiterated his targets for the memecoin per market capitalization expectations amid the ongoing bull run
Billy Markus, an IBM software developer behind the creation of Dogecoin, also known on social media as Shibetoshi Nakamoto, has made headlines in the crypto community with a playful statement.
Markus Predicts Over $210.27 Billion Valuation for Dogecoin
In a recent post on X, Markus jokingly proposed that Dogecoin should aim to have a market value higher than IBM. Markus suggested a target of $210.27 billion for the meme-based cryptocurrency.
i want dogecoin to be worth over 210.27 billion
the reason is that then it would be worth more than IBM, thus it would be worth more than any place i’ve ever worked at, which would be funny
— Shibetoshi Nakamoto (@BillyM2k) November 29, 2024
Markus’s comment made his followers laugh and wonder. This shows how Dogecoin has changed from a funny joke to an important player in the cryptocurrency market. Dogecoin launched in 2013 as a joke to poke fun at the cryptocurrency industry, and it has surprised many with its growing value. This growth is attributed to its enthusiastic supporters and endorsements from figures like Elon Musk.
Meanwhile, to reach a high market value, Dogecoin still needs significant improvements in its system. For now, Dogecoin fans can enjoy its founder’s positive spirit while helping the coin develop further in the digital asset world. According to CoinMarketCap data, DOGE is trading as the 6th-largest digital asset by market capitalization, valued at approximately $62 million.
DOGE’s Ongoing Momentum
Much of the current rally came after Donald Trump won the recent US presidential election. Likewise, the expectation that tech billionaire Elon Musk may join Trump’s administration adds to Dogecoin’s ongoing momentum.
Previously, Musk had discussed establishing a “Department of Government Efficiency (D.O.G.E)” to improve the efficiency of government spending.
This has raised traders’ expectations about possible discussions about DOGE in the media and retail trading circles. They see this as an opportunity for DOGE to see increased user adoption, potentially leading to further price spikes.
Meanwhile, a “golden cross” emerged on the weekly chart, hinting at a strong outlook for the last quarter of the year. Some analysts have set realistic price targets of $2 to $4 for DOGE this cycle. Others have forecasted a more bullish target of $30 by March 2025.
Additionally, technical analysis shows that Dogecoin’s bullish rally commenced after hitting the golden cross. That is, its daily SMA 50 crossed above the daily SMA 200 on the DOGE charts. Interestingly, the bullish run has seen DOGE reach a new high this month.
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