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Could Dogecoin Reach $1 Trillion Market Cap? Jenny Ta Explains How

Published 17/07/2022, 18:46
Updated 17/07/2022, 19:40
© Reuters Could Dogecoin Reach $1 Trillion Market Cap? Jenny Ta Explains How

This article was originally published May 2021.

Jenny Ta, the founder and CEO of CoinLinked.com, shared her thoughts about the future price of Dogecoin (CRYPTO: DOGE) Friday on Benzinga'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 cryptocurrency received public support from numerous celebrities in 2021 and is picking up traction as a method of payment at retailers.

Related Link: Much Wow Gamestonk! How You Can Use Dogecoin At GameStop (NYSE:GME), Other Retailers

The price of the popular cryptocurrency traded from about 1 cent on Jan. 1 to almost 75 cents on May 8 when Tesla Inc (NASDAQ: TSLA) CEO Elon Musk hosted "Saturday Night Live."

From a percentage perspective, the run of Dogecoin over that time was a tough uphill battle, Ta told Benzinga, adding that it should be much easier for the cryptocurrency to move from 75 cents to $1.

See also: How to Buy Dogecoin (DOGE)

$1 per Dogecoin is imminent, she said, adding that she believes Dogecoin will eventually reach a market cap of $1 trillion, valuing the cryptocurrency around $7 or $8 per coin.

Ta noted that she is thankful for "the cryptocurrency godfather" Bitcoin (CRYPTO: BTC), as she said that without Bitcoin, Dogecoin would have never come along.

Related Link: Elon Musk Says He Hasn't And Won't Sell Any Dogecoin. Mega Whale Buys 420.69 DOGE On News. Coincidence?

Price Action: At time of republication, Dogecoin was down 58.93% year-to-date.

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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