Dogecoin price could hit an unprecedented level if it proportionally mirrors the Bitcoin rally to the $2.4 million target set by Ark Invest. As Bitcoin continues to capture the attention of institutions, states, and nations, some bulls envision the firstborn crypto soaring to eye-popping targets. Ark Invest Envisions Bitcoin Hitting $2.4M By 2030 Leading asset manager Ark Invest recently shared this sentiment, predicting that the premier asset could clinch a bullish target of $2.4 million by 2030. This suggests that Ark Invest expects the $2.4 million target to materialize in the next five years. According to Ark Invest, Bitcoins surge to the $2.4 million target would be driven by nation-state adoption of BTC as a treasury asset, growing investment in spot Bitcoin ETFs, and the assets store of value utility. Notably, reaching the $2.4 million target demands a surge of 2,439% from the current price of $94,521. This projected price would propel Bitcoins market cap to $48 trillion, assuming there are 20 million BTC in circulation. Dogecoin Correlation with Bitcoin Such an increase could positively impact the performance of the broader crypto market. Specifically, assets like Dogecoin (DOGE), which have a high correlation with Bitcoin, could benefit immensely from BTCs rally to the $2.4 million target. According to data from IntoTheBlock, Dogecoins correlation with Bitcoins price action in the past 30 days stands at 97%. Similarly, the correlation matrix in the past two months is at 65%. Dogecoin correlation with BitcoinDogecoin correlation with BitcoinThe data show that Bitcoins price movement has strongly influenced Dogecoins performance in the past few weeks. Price of Dogecoin if Bitcoin Hits $2.4M Should this trend continue, Dogecoin might experience a monumental surge if Bitcoin surges 2,439% to $2.4 million. For context, Dogecoin trades at $0.1744 per token in the hours leading up to press time. This represents a slight increase of 0.36% in the past 24 hours. Like Bitcoin, Dogecoins price has slumped by 2.27% in seven days. Dogecoin's market valuation is $26.02 billion, making it the eighth most prominent cryptocurrency. If Dogecoin continues to follow Bitcoins price movement and the premier crypto soars 2,439% to $2.4 million, DOGE could similarly set a new ATH record. Specifically, if DOGEs price grows by 2,439%, it will hit a target of $4.428. Therefore, if Bitcoin hits a target of $2.4 million, as projected by Ark Invest, Dogecoins price could soar to around $4.428. This estimate assumes that Dogecoins supply remains constant at 149.13 billion tokens.Dogecoin to $4 Forecast Interestingly, several crypto analysts, including lead Dogecoin analyst Kevin, believe DOGEs potential surge to the $4 target is imminent. In December 2024, Kevin suggested that it is highly likely that Dogecoin could set a new ATH of $4 by the end of this year. Three months later, Kevin indicated that Dogecoin was mirroring its performance in the 2020/2021 cycle. The expert asserted that if the trend continues, Dogecoin could embark on its next leg toward the $4 territory. In addition, popular crypto analyst Alan issued a bullish prediction for Dogecoin, pointing to a potential surge to $4. Alan's prediction was based on the Fibonacci 1.618 Extension level. Essentially, there is a likelihood that Dogecoin might surpass the $4.42 target even when it closely mirrors Bitcoins price movement toward Ark Invests $2.4 million target. This speculation is due to Dogecoin historically outperforming Bitcoin during a bull run. Meanwhile, Changelly experts are less optimistic about Dogecoin's trajectory. The trading platform predicts that Dogecoin will clinch the $4 target by 2034 and eventually soar to the $4.45 level by May 2034.
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