Meme-themed coins have dominated the crypto industry for years, which began with Dogecoin, Shiba Inu, and many others, but now new tokens like Dog (Runes) are taking over. 2024 has officially become the year of meme coins, where this category is offering heavy gains. Just recently, a crypto trader made $12.45 Million from $1300 within just 15 days after he invested in a newly launched Mood Deng token. However, that is not the only case, as hundreds of these cryptos are rising with profits. Based on this, one crypto expert has forecasted the future of DOG, where it will surpass $750 Million in market capitalization.
Dog (Runes) Market Cap To Double With The Next Candle
It has been only a few months since this Runes token entered the market, but within this short time, it has gained heavy popularity among investors. Thanks to connections with the Bitcoin Blockchain and Dog-themed meme coins, it made a profiting enterey. As a result, many crypto experts have endorsed this crypto token, especially as the bull run is approaching.
With this, a crypto expert, MadPunk, recently posted on X that Runes is the best that has often to BTC and that the next big candle will push its market cap to $750 Million, almost double the current market cap of $398,973,299. He further explained that Bitcoin meme tokens are also getting popular as earlier the TRON and Solana meme coins dominated the market.
RUNES is the best thing to happen to BTC since Ordinals. Memecoins on the world’s biggest blockchain are gaining traction and showing impressive strength. The next big $DOG candle could send DOG•GO•TO•THE•MOON to a $750 million market cap.
Study Convictions. Study RUNES.… pic.twitter.com/92Apz4VgT2
— MadPunk (@MadpunkCalls) September 30, 2024
As Bitcoin price gains new support in the market, keeping itself above $60K, currently at $63,365, the Bitcoin-based tokens are also jumping. It has led to MadPunk and other analysts believing in new highs for this token, causing it to trend on X with 26.5k posts with the DOG hashtag.
Will Its MarketCap Hit $750 Million?
DOG has been on a bullish rally for the last few days, where its price has increased by 56% and 91% over the week and two weeks. It is currently trading at $0.003961 with a market cap and trading volume of $398,973,299 and $6,925,597, profiting for many.
However, in contrast to these two weeks’ gains, it has dropped more than 7% today, concerning the holders amid a bullish rally. It is because, after days of rally, CCI and momentum technical indicators reveal the overbuying of the token, resulting in a consolidation.
It might or might not recover from the consolidation, but the rest of the indicators signal the heavy demand for the token. If it bounces off the first resistance of $0.003848 towards the second resistance at $0.005002, an uptrend is likely to continue. Additionally, with Uptober and the crypto market rally, the token might achieve a market cap of $750 Million.
Moreover, the Dog price and market cap have surged to such or even higher peaks in the past, where it created an ATH of $0.009774 and $962.17M around four months ago. It increases the possibility of rising to $750 million, but not just immediately.
Final Thoughts
Despite Dog (Runes) poor performance today, the investors are not over this token due to its two-week-long rally, adding 91% to its value. The token has declined almost half of its best-performing days, which is concerning for many. However, at the same time, MadPunk, a crypto expert, believes that the market cap will hit $750 Million if the next candle goes big. Moreover, with only one day left in Uptober, the anticipation is growing around every cryptocurrency.
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