Are you the next Dogecoin millionaire?
Today, I'm taking Elon's Starship to the moon for some math
on how much DOGE you'll need to become the top dog in the next bull run
and tell you about the strategy anyone can use to make it big with DOGE.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
In this video, I break down how much Dogecoin it's going to take
to become a millionaire in the next bull run.
The DOGE all-time high, well, it was 74¢.
This is important perspective for our moon math on DOGE
because everyone expected it to top out at $1.
This shows how unpredictable crypto can be
and why I have a range of price predictions in mind for the top of the next bull run.
If DOGE did what everyone thought it would do last time
and hit $1 after the next Bitcoin halving,
it's going to take 1 million Dogecoin to make a million bucks.
You can't get an easier math equation than that!
If you wanted to buy a million DOGE today,
that will run you a little over $71,000.
And I'll be the first to admit,
that's not an amount most people are willing to throw down
on a memecoin pumped by Elon Musk.
But what if the price of Dogecoin could go much higher than $1?
Remember that Elon talked about DOGE being the future currency of Earth?
And even the Dogecoin website calls it the perfect candidate to be used as a currency
because of its diminished inflation rate.
It's possible that DOGE will become a currency on Twitter,
or at least integrated with the bird app in some way.
And that's an interesting narrative
because we know Twitter is where crypto networking happens.
Instagram is for moms and pictures of pumpkin spice lattes.
Twitch is for the gamers and hot tub girls.
Facebook is a boomer wasteland.
LinkedIn is for the suits.
But, Twitter, well, it's the mega hub for crypto.
A lot of networking and alpha happens on the Twitter platform.
And if Dogecoin becomes part of it all in some integral way,
it could grow into some important use cases.
Not to mention the fact that Twitter is likely going to become an everything app
that integrates messaging, social media, crypto and finance.
I think this is what people are speculating about
when they say holding Dogecoin can make a million dollars.
Before I dig too deep though,
you should know that I do hold Dogecoin and I have it in my crypto casino portfolio
as one of the memecoins I expect to do well next bull cycle.
This video is just my thoughts on a project that many people think could moon.
If the stars align,
or, rather, if the moon and a Tesla Starship collide,
DOGE could 20X and hit $1.40 when the next bull run is at its peak.
It can even get as high as $2 or $4 if lightning strikes twice
and Dogecoin becomes one of the bigger narratives in crypto at that time.
It's going to take a lot to get there though.
And here's why.
Crypto pumps are all about two things---
the market cap and the circulating supply.
The issue with DOGE is that 14 million new coins are minted every day,
which makes it a little harder to lock down exact numbers.
To be fair, the numbers I'm about to give you are estimates.
As far as the market cap goes,
a $4 Dogecoin would require an absolutely massive market cap.
If it hit a market capitalization equal to Bitcoin's right now,
$500 billion,
including inflation, that would make one DOGE equal $3.65.
A 51X.
That's quite a stretch,
but if I know anything about crypto,
anything's possible.
If the DOGE narrative is strong enough to attract retail and institutional investments
and take a moonshot to $4,
well, then 250,000 DOGE would equal a million dollars,
which at today's price would cost around $17,800.
$2 Dogecoin would cut the math in half,
a $290 billion market cap, give or take,
requiring a $35,000 investment into 500,000 DOGE at its current price.
That's a 27X.
These are huge market caps.
And it's going to take nothing short of Twitter integration
and/or SpaceX coming through with the promise to put a literal Dogecoin on the literal moon
to make it happen.
Crazy as it sounds,
I guess it's possible?
To find out why,
we have to take a trip back to the time of the last halving in May of 2020
when Dogecoin was priced under a cent.
I talked about this several times.
Dogecoin was used almost like a stablecoin back when dinosaurs roamed the earth
and crypto had no dollar-pegged coins to move funds around to make trades.
In crypto, it was all volatility at the time.
And people use Dogecoin to trade.
That was easy to do
because for a long time, DOGE was cheap,
priced well under 1¢.
First mainstream price catalyst for Dogecoin happened around the time
of the Gamestop short squeeze
when Keith Gill with the "DeepF***ingValue" handle on Reddit was leading the charge
to pump on one of the most shorted stocks at the time.
If you were there for this, then you know.
They were successful.
And the price of GME went parabolic.
Deep value indeed.
This is where we get a lot of the degen lingo we use today like diamond hands.
It's also where we got our first behemoth memecoin pump.
When GME was starting its run,
a lot of Reddit users wanted to see the same thing happen to a crypto.
In the spirit of sticking it to Ol-Fi,
all the better to pump a cryptocurrency that was made as a joke.
DOGE became the golden child of crypto degens.
The price moved accordingly.
On February 25 of 2021,
the price had its first major pump to 7¢.
And that over 3,000% pump is what brought DOGE into the limelight.
Everyone started talking about it.
And at around 7¢ is when a lot of people got in
and subsequently got wrecked when it dipped back down to 4¢.
The price of DOGE hovered there for a while
until Elon started talking a lot more about the yellow dog
and started tweeting about it.
Of course, his first time tweeting about it saying he's CEO of DOGE,
that's back in 2019.
But from there, the price took on a life of its own.
By the time Elon was on Saturday Night Live doing his best impression of Waluigi
and talking about Dogecoin going to the moon on May 7, 2021,
Dogecoin hit its all-time high of around 70¢ that day.
The point here is this.
Dogecoin's price is inextricably tied to Twitter.
It seems like plans are still in the works for the bird app and the dog coin.
Even after the price of DOGE retraced to its pre-moon pump low of around 5¢ to 7¢,
Elon changed the Twitter logo to a Dogecoin logo.
He's made several crypto tweets about his integration with Twitter.
And we know that Twitter aspires to offer crypto and payment services in the future.
I think that Twitter will have to be, at the very least, a big part of why
Dogecoin would pump hard next cycle.
And I think that has a chance of playing out.
Twitter did just get a new CEO.
So this could be bearish for DOGE.
But it could also mean that Elon is more free to talk about Dogecoin.
On-chain data shows that DOGE miners have moved to accumulation.
Right now, they've increased their collective holdings
20 million coins in May,
after selling 5% reserves last month.
That means that they're betting on the price moving up
or at least stabilizing over time.
And DOGE holders and whales,
well, metrics indicate they've been accumulating as well in the zone.
For Dogecoin to melt faces,
it'll have to catch a windfall narrative this cycle,
which it already did last cycle.
They say lightning doesn't strike twice,
but Elon seems to be committed to meme currency,
and it wouldn't surprise me if he was able to generate a lot of hype for Dogecoin
with whatever plans he is going to do next.
But here's where it gets tricky.
Price momentum for Dogecoin is speculative at best.
It relies on believing in what Twitter might do with DOGE.
In the meantime,
its inflationary supply of 5 billion new coins mined every year
increases the number of coins on the market
and gives holders less and less chance at making millions.
For all you DOGE believers, or Shibes, I think they're called,
I think you're making a decent bet stacking Dogecoin and hoping for the best.
It's all speculation and hard to tell where DOGE can go from here.
I think it's likely that DOGE could hit $1 somewhere between 2024 and 2025
if only for a day or two.
But a $2 DOGE, well, it's nothing but moon math.
There's one big caveat though.
All this math is based on DOGE not changing its code.
If DOGE forks and adds in a burning mechanism,
change to the inflation rate or staking,
then the entire Dogecoin space would turn into a dogpile,
and all this math goes out the window in the most bullish way possible.
So here's what I'm doing.
If you follow this channel,
you know I'm putting together a crypto casino portfolio
that includes Dogecoin as well as some of the other memecoins
that did really well last cycle like Shiba Inu.
I'm also from time to time adding some mega pumpers that we've seen recently.
If you don't have $70K to place on a $1 Dogecoin bet,
then putting together your own crypto casino portfolio
is a great way to position yourself to make a million dollars
if Dogecoin and other meme projects go to the moon.
But be careful though.
Memecoins are fun, but their existence can be fragile.
Be careful. Always use common sense and do your best to mitigate risk.
But, as always, that's not financial advice.
That's all I got.
Be blessed.
BitBoy out.