The question of whether memecoins like doge or babydoge could reach $1 is very interesting, but it depends on many economic, technical and psychological factors. Here is my analysis:
1. Current Circulation
- Dogecoin has a circulating supply of about 140 billion tokens (in 2023), with a continuous issuance of 5 billion tokens per year.
- To reach $1, Dogecoin's market cap would have to exceed $140 billion
2. Market Comparison:
- Currently, Dogecoin's market cap is much lower than Bitcoin or Ethereum.
- Reaching $1 would require massive adoption and extremely high demand, which seems unlikely in the short to medium term.
3. Obstacles:
- Inflationary: Dogecoin's unlimited supply makes it difficult to significantly increase its value.
- Competition: More innovative cryptocurrencies like Ethereum or Solana are attracting more attention from investors.
4. Possible scenario:
- If Dogecoin manages to position itself as a widely adopted payment currency (e.g. for microtransactions or online tipping), an increase in its value is possible, but reaching $1 is still very ambitious.
1. Current circulation
- BabyDoge has a circulating supply of several quadrillion tokens (in 2023).
- To reach $1, its market capitalization would have to be astronomical, far beyond the total value of the cryptocurrency market.
2. Obstacles
- Massive supply: The extremely high number of tokens in circulation makes such a price increase almost impossible.
- Lack of use cases: BabyDoge relies mainly on marketing and speculation, without a concrete use case.
3. Possible Scenario
- BabyDoge could see its value increase slightly in case of strong demand or media support, but reaching $1 is highly unlikely.
