Could Dogecoin Reach $1 Trillion Market Cap? Jenny Ta Explains How
Jenny Ta, the founder and CEO of CoinLinked.com, sharedher thoughts about the future price ofDogecoin DOGE/USD Friday onBenzinga's YouTube show Power Hour.
The popularity of Dogecoin has soared recently, as the cryptocurrency that started as a joke is no longer just chasing its tail. The meme-based cryptocurrencyreceived publicsupport from numerouscelebrities in 2021 and is picking up traction as amethod of payment at retailers.
The price of the popular cryptocurrency tradedfrom about 1 centon Jan. 1to almost 75 cents on May 8 when Tesla Inc TSLA CEO Elon Musk hosted Saturday Night Live.
From a percentage perspective, the run of Dogecoinover that timewas atough uphill battle, Ta told Benzinga, adding that it should be much easier for the cryptocurrency to move from 75 cents to $1.
$1 per Dogecoin is imminent, she said, adding that she believes Dogecoin will eventually reach a market cap of $1 trillion, valuingthe cryptocurrency around $7 or $8 per coin.
Ta notedthat she is thankful forthe cryptocurrency godfather Bitcoin BTC/USD, as she said that without Bitcoin,Dogecoin would have never come along.
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