Jenny Ta On How Dogecoin Could Reach $1-Trillion Market Cap
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.
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.
Price Action: Dogecoin is up 7,405% year-to-date.
At last check Friday, Dogecoin was trading down 11.87% over a 24-hour period at a market cap of around $46 billion.
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