Can Dogecoin stay in the air? It may pop first.

With a market valuation of $31.4 billion as of July 16 and a coin price of $0.21, Dogecoin would only need to go to $0.42 to double, bringing its total market value to almost $60 billion.

For a token that once surged to $0.72 in 2021, that is a slight absolute shift. Global liquidity and social media excitement are the meme coin’s twin fuels, and both can ignite rapidly in the correct circumstances. After all, Dogecoin saw a dramatic increase in late 2024, leading many investors to expect a rerun of the 2021 run. Even though it didn’t, the price increased significantly before plummeting.

As a result, sentiment has been brittle since early 2025. Under the hood, not much has changed fundamentally. The coin isn’t seeing any development, and there’s little reason to think that will change anytime soon. The utility that Dogecoin already possessed is not going to increase.

When the meme wave subsides, Dogecoin finds it difficult to attract new users without a growing feature set. When there’s likely a superior horse somewhere else, there’s just no sense in keeping capital around.

Every significant Dogecoin surge has historically been followed within weeks by a nearly equal correction, wiping out gains and depressing latecomers. Dogecoin might potentially double rapidly if liquidity eases as expected this year and next year, but it would take the very utility it lacks to maintain that line for a quarter or longer.

A sustained double is far more likely thanks to XRP’s utility engine.

XRP is worth $181 billion and trades for $3.05 now.

Given that it would need a market valuation of $610 billion, a doubling to $6.10 or so appears more difficult than Dogecoin’s job. However, XRP offers structural benefits that raise the likelihood of growth.

Along with updated compliance rails targeted specifically at institutional investors, Ripple, the company that issues XRP, launched a new platform for tokenized U.S. Treasuries on the XRP Ledger (XRPL). These investors are interested in using the chain to manage their assets on-chain since it is increasingly meeting their demands and preferences. In light of this, real-world asset (RWA) flows onto the XRPL are modest at the moment but might reach trillions of dollars over the course of the next ten years as the XRPL establishes itself as the preferred location for financial transfers.

Similarly, Ripple recently introduced a dollar-pegged stablecoin that is connected with fiat currency rails to streamline cross-border payouts and assist users in avoiding currency conversion fees, which is one of the chain’s main goals. Additionally, this expands upon the rebranded Ripple Payments product, which enables banks to settle transactions without having to pre-fund overseas accounts prior to using slower and more costly traditional technologies like SWIFT.

As a result, the trajectory of XRP’s value doubling appears to be more of a gradual ascent supported by increasing cash flows, bank integrations, and regulatory tailwinds than a speculative moonshot.

The token might not double right away—anything is possible with Dogecoin—but unlike the meme coin, the actual commercial activity supporting its price should prevent gravity from regaining the accomplishment. Therefore, rather than purchasing Dogecoin and hoping for the best, investors looking for something more than pyrotechnics are probably better suited purchasing XRP now and taking advantage of the compounding effect of genuine demand over time.