Bitcoin (BTC) and Dogecoin (DOGE) are both trading in the green zone today. The crypto market seems to be slowly recovering from yesterday’s sell-off. BTC is inching closer to reclaiming the $100,000 mark once again. Despite the rally, the original crypto faces considerable resistance at the $97,000 mark. DOGE, on the other hand, is struggling to breach the $0.19 mark.
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How High Will Dogecoin Go If Bitcoin Hits $150,000?
Bitcoin (BTC) has had multiple all-time highs over the last year. The asset hit its most recent peak of $108,786 on Jan 20 of this year. DOGE, meanwhile, has struggled to gain momentum over the last few years. The memecoin has had sporadic rallies, but has not hit a new all-time high since May 2021.
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According to X’s Grok AI, if BTC hits $150,000, its price will rally by 54.76%. If DOGE rallies with a similar figure, it will hit $0.2679.
Grok also highlights that during bull markets, DOGE has usually outperformed BTC. This is likely due to the speculative nature of memecoins. For example, in 2024, DOGE surged 225% while BTC gained 85%.
Going by this pattern, Dogecoin (DOGE) could surge to a much higher price point than $0.2679. Many anticipate the memecoin to breach the $1 mark if Bitcoin (BTC) hits $150,000. Reaching $1 from current price levels will translate to a rally of about 477.7%.
There is a high probability that Bitcoin (BTC) will hit the $150,000 mark sometime this year. The Federal Reserve may cut interest rates as inflation in the US cools. A rate cut could lead to investors making risky bets. Institutional fund inflows have also substantially increased. BlackRock purchased more than $4.5 billion worth of BTC since Apr. 21 of this year.
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