Meme Coins (DOGE, SHIB) to Hit $1 Triillion Market Cap This Cycle: Jeremie Davinci

U.Today - Early Bitcoin adopter Jeremie Davinci has taken to his account on the X social media giant (formerly known as Twitter) to share his take on what he believes meme coins, including flagships Dogecoin and Shiba Inu , can reach in this market cycle in terms of market capitalization value.

He made quite a bold prediction that is likely to make meme coin investors happy.

The early Bitcoin millionaire stated that during the last market cycle, leading meme coin DOGE managed to soar to a $88.8 billion market cap value, while the second largest meme digital currency, Shiba Inu’s, market cap skyrocketed as high as $40 billion.

Davinci believes that in this cycle, all meme coins as an asset class are likely to reach a whopping $1 trillion market capitalization – this is slightly below the level where Bitcoin’s market cap is sitting at the time of this writing - $1,320,587,283,299, according to the data provided by CoinMarketCap.

After the staggering 14% increase witnessed by Dogecoin this week, over the past 24 hours, the original meme cryptocurrency descended by 5%, falling from the recent local high of $0.12835 to the $0.12202, where it is changing hands at the moment. DOGE's market cap currently constitutes $17,813,363,036.

As for SHIB, this metric stands at $10,533,255,950, while the canine-themed coin is going for $0.00001800. Today, it has pared its losses a little after decreasing by 6.64% over the past day.

Source: Investing.com