In the dynamic world of cryptocurrency, price predictions are often a hot topic among investors and analysts. Recently, Ark Invest issued a bold prediction that Bitcoin (BTC) could reach a price of $2.4 million by 2030.

If this prediction materializes, the impact will not only be felt on Bitcoin (BTC) but also on other cryptocurrencies such as Dogecoin (DOGE), which has a high correlation with Bitcoin (BTC).

So, how is the Dogecoin price moving today?

Dogecoin Price Drops 0.96% within 24 Hours

On May 6, 2025, Dogecoin (DOGE) saw a modest dip of 0.96% over the past 24 hours, with the cryptocurrency trading at $0.1682, or around IDR 2,780. During this period, DOGE reached a daily high of IDR 2,874 and a low of IDR 2,765.

At the time of writing, Dogecoin’s market cap stands at around $25.1 billion, with trading volume rising 0.04% to $668.06 million in 24 hours.

Read also: 3 Reasons Dogecoin Could Hit $0.40 in May 2025

Ark Invest Predicts Bitcoin Price to Reach $2.4 Million by 2030

Leading asset manager Ark Invest recently delivered an optimistic projection for Bitcoin. They predicted that the major cryptocurrency could reach a bullish target of $2.4 million by 2030.

This suggests that Ark Invest expects the price surge to occur within the next five years. According to their analysis, this drastic rise will be driven by the adoption of Bitcoin as a reserve asset by countries, increased investment in spot Bitcoin ETFs, as well as Bitcoin’s growing role as a store of value.

Notably, to reach a price of $2.4 million, Bitcoin would need to increase by 2,439% from its current price of $94,521.

If this target is achieved and the number of Bitcoins in circulation remains around 20 million, then Bitcoin’s market capitalization will jump to $48 trillion.

Dogecoin Correlation with Bitcoin

The significant rise in Bitcoin price is expected to have a positive impact on the overall performance of the crypto market.

Read also: Ethereum Holds Steady at $1,800 — Are Whales Felling a Run Toward $2,000?

In particular, assets like Dogecoin (DOGE), which has a high correlation with Bitcoin, could potentially benefit greatly if BTC actually reaches the $2.4 million target.

Based on data from IntoTheBlock, the correlation between Dogecoin’s price and Bitcoin’s movement over the past 30 days has reached 97%. Meanwhile, in the last two months, the correlation between the two was recorded at 65%.

This data shows that Bitcoin’s price movements have greatly affected Dogecoin’s performance in recent weeks.

Dogecoin Price If Bitcoin Reaches $2.4 Million

If this trend continues, Dogecoin could potentially experience a tremendous price spike if Bitcoin actually rises by 2,439% to reach $2.4 million.

To give you an idea, as of May 4, 2025, Dogecoin is trading at $0.1744 per token, a slight increase of 0.36% in the last 24 hours. However, like Bitcoin, the price of DOGE has fallen by 2.27% in the last seven days.

As of May 4, Dogecoin’s market valuation stood at $26.02 billion, making it the eighth largest crypto by market capitalization. If Dogecoin continues to follow Bitcoin’s price movements and BTC jumps 2,439% as projected by Ark Invest, then DOGE also has the potential to set a new record high price.

Specifically, if the Dogecoin price also increases by 2,439%, it will be worth around $4,428 per token. This estimate is made assuming the supply of DOGE remains stable at 149.13 billion tokens.

Dogecoin Prediction to $4

Interestingly, a number of top crypto analysts, including Dogecoin’s lead analyst Kevin, believe that DOGE’s surge towards the $4 target is likely to happen in the near future.

In December 2024, Kevin mentioned that Dogecoin is very likely to print a new All-Time High (ATH) of $4 before the end of this year.

Three months later, Kevin added that Dogecoin’s current movement pattern is very similar to the 2020/2021 cycle. If the pattern continues, Dogecoin is expected to continue its rise towards the $4 price region.