Bitcoin and the broader crypto market have been recovering after several episodes of a market downturn this week. Bitcoin is currently up 2.55%, trading at $84,100. At the same time, Dogecoin has gained 2.68%, trading at $0.1726.

Dogecoin has been closely mirroring Bitcoin’s price movements during both bullish runs and bearish downturns. Data from the market intelligence platform IntoTheBlock shows that Dogecoin has a 96% correlation with Bitcoin.

This close correlation suggests that the meme coin has a good chance of following Bitcoin’s path to higher levels.

In addition, analysts have high projections for Bitcoin, with industry pundits like Michael Saylor arguing for a multi-trillion-dollar market cap for Bitcoin in the near future.

In this article, The Crypto Basic explores the potential price of Dogecoin in a scenario where Bitcoin’s market cap reaches $10 trillion.

Bitcoin Reaching a $10T Market Cap

At press time, Bitcoin’s market cap stands at $1.66 trillion. For Bitcoin to attain a $10 trillion cap, its current valuation must increase by 5X, or 503%. For context, a $10 trillion market cap would imply a unit price of $504,286 for Bitcoin.

Several industry commentators have suggested that Bitcoin could eventually reach a $500K valuation. Among them are financial author Robert Kiyosaki, who often bases his bold predictions on economic and political factors.

Likewise, Bitwise CIO Matt Hougan has expressed a similar sentiment. According to him, until Bitcoin hits $500K, it’s not too late to get involved.

Dogecoin Price If Bitcoin Reaches a $10T Market Cap

With this promising outlook, the global crypto market could exceed a $20 trillion valuation as Bitcoin typically comprises more than half of that market. Notably, the current global crypto market cap is $2.74 trillion.

So, what could the valuation of Dogecoin in a $10 trillion altcoin market be?

Estimating Dogecoin’s price when Bitcoin reaches $10 trillion is challenging. However, given their close correlation, one can rely on proportional growth analysis to estimate DOGE’s price.

In other words, since Bitcoin would need a 503% surge to reach a $10 trillion market cap, assuming Dogecoin grows at a similar rate, a 5X growth from its current level of $0.176 would send DOGE to $1.06. This would imply a market cap of $157 billion for Dogecoin, compared to its current market cap of $25 billion.

Meanwhile, popular projections within the crypto industry suggest that Dogecoin could reach $1 this year. On the other hand, industry experts expect Bitcoin to take a few more years to approach the $500K mark.

This suggests that many expect Dogecoin to reach $1 much sooner than Bitcoin reaching $500K. Essentially, Dogecoin’s price could exceed $1 when Bitcoin hits $500K with a $10 trillion market cap.

Historically, Dogecoin tends to outperform Bitcoin during bull runs. Given that Dogecoin’s market cap is in the billions, it has more room for faster growth than Bitcoin, which is already in the trillion-dollar threshold.

Telegraph analysts expect Bitcoin to reach $500K by 2029. During this same period, they predict DOGE will be priced at $13.