Why Dogecoin Can Hit 75 Cents Again, According To Matt Wallace

Matt Wallace, a popular YouTuber who covers Dogecoin DOGE/USD and other cryptocurrencies, joined Benzinga’s "Power Hour" show a few weeks ago.

“Right now Dogecoin is at a place where it still has a ton of room to grow,” Wallace said during the May 17 show. “We see Elon Musk working with the Dogecoin devs behind the scenes a ton is happening with that. I’ve been talking to the Dogecoin devs they are working to make it faster.”

Watch the full interview in the video below:

At the time Wallace joined the show, Dogecoin was trading around 50 cents. Since then, Dogecoin has dropped and been turbulent. The popular coin briefly dropped below 30 cents on May 23, before quickly jumping back up 35 cents.

Currently, the coin is trading near 40 cents. Many others like Wallace expect the coin to continue to grow as more traders gain access to purchase the coin. This week, Coinbase announced users on Coinbase Pro will be able to trade Dogecoin.

Wallace pointed out that the overall crypto market saw a hit: “The total market cap of crypto has gone from $2.5 trillion to around $2 trillion."

See also: Is Dogecoin a Good Investment?

The YouTuber went on to compare crypto’s total market cap to gold’s, saying he expects the crypto market cap to grow closer to $10 trillion.

Despite Doge’s struggles to hold its highs, Wallace is confident we will see the coin back at 75 cents: “It’s already been to 75 cents before, it can do it again."