A prominent crypto analyst and Cardano bull, Dan Gambardello, has reiterated his belief that DOG, the first memecoin on the Bitcoin network, is poised to surpass Dogecoin in market cap. Gambardello maintains that despite his general skepticism toward memecoins, DOG’s unique position and fundamentals could drive it to become a leading asset in its category.
In a recent social media post, Gambardello emphasized the growing momentum behind DOG, which was minted via the Runes protocol. Currently ranked as the 12th largest memecoin by market capitalization, DOG is expected not only to exceed Dogecoin’s valuation in the current market cycle but also to dominate the memecoin landscape long-term.
Gambardello's support for DOG isn't new. As early as May 2024, he publicly speculated that DOG could eventually flip Dogecoin, citing its foundational ties to Bitcoin and increasing institutional interest in meme-based tokens.
Growing Optimism Around DOG
Several factors contribute to Gambardello’s bullish outlook. He points to the potential approval of memecoin exchange-traded funds (ETFs), noting recent progress between Bitwise and the U.S. Securities and Exchange Commission regarding a proposed Dogecoin ETF. Should these funds begin trading, DOG’s status as the leading memecoin within the Bitcoin ecosystem may attract substantial institutional attention.
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Additionally, the official listing of DOG on Kraken, one of the largest U.S.-based cryptocurrency exchanges, has provided a significant boost. Starting June 27, U.S. investors gained easy access to trade DOG, improving its liquidity and accessibility.
Social Engagement and Market Performance
Beyond exchange listings, DOG has demonstrated impressive social engagement metrics. According to LunarCrush, a social analytics platform, DOG recently ranked 14th in altcoin social activity—one spot above Dogecoin and two above Cardano’s ADA.
This surge in public interest suggests a growing community behind DOG, which could further accelerate if the broader market enters an altcoin season. Gambardello shared a chart indicating that DOG’s market cap could potentially reach $100 billion, far surpassing Dogecoin’s current valuation of approximately $24 billion.
DOG Price Potential
At the time of writing, DOG is trading at around $0.0045 with a market cap of roughly $454 million. For it to surpass Dogecoin, its market capitalization would need to rise by over 5,000%, reaching at least $24 billion. This surge would put DOG’s price near $0.24 per token.
Gambardello’s more ambitious prediction sees DOG achieving a $100 billion market cap. Given its total supply of 100 billion tokens, this would imply a price of $1 per DOG. He also suggested that DOG might outperform major altcoins like Cardano in the current cycle.
Frequently Asked Questions
What is DOG?
DOG is the first memecoin created on the Bitcoin blockchain using the Runes protocol. It aims to combine the cultural appeal of memecoins with the security and prominence of the Bitcoin network.
How can DOG surpass Dogecoin?
Proponents believe DOG’s native presence on Bitcoin, potential institutional interest via ETFs, and strong community engagement could help it outperform Dogecoin in the long term.
Where can I trade DOG?
DOG is available on several exchanges, including Kraken. Always use reputable platforms and do your own research before trading.
Is DOG a good investment?
Like all memecoins, DOG carries high risk due to its volatility and speculative nature. Investors should carefully assess their risk tolerance and market conditions.
What is the Runes protocol?
Runes is a token standard on Bitcoin that enables the creation and transfer of fungible tokens, similar to how BRC-20 and other standards work, but with potential efficiency improvements.
Could DOG really reach a $100 billion market cap?
While such predictions are highly speculative, a combination of market hype, institutional adoption, and community support could theoretically drive valuations to extreme levels, as seen in previous crypto cycles.
Gambardello’s continued endorsement highlights a growing narrative that connects Bitcoin’s legacy with the explosive potential of memecoins. Whether DOG can truly surpass one of crypto’s most iconic assets remains to be seen, but its journey is undoubtedly being watched closely by traders and analysts alike.