Which Cryptocurrency Is More Likely to Be a Millionaire Maker? Dogecoin vs. XRP

Sprinting races and marathons both cover distance, but using the strategy that works in one will wreck you in the other. Crypto investors chasing “millionaire-maker” coins often confuse the two, buying a meme coin sprinting across social media.

Two perennial favorites in this conversation are Dogecoin (DOGE 4.15%) and XRP (XRP 0.95%).

Both have cult followings and large market caps, yet only one is building the muscle needed for a long haul. Let’s see which, if either, has the special sauce to make investors into millionaires, and then separately answer the question of whether either deserves a slot in a sensible portfolio.

Dogecoin’s upside is only limited by investor enthusiasm

Dogecoin commands a respectable $25.7 billion market cap at a price near $0.17 and 150 billion coins in circulation.

Those numbers matter, because every year, another 5 billion DOGE trickles into the supply through block rewards. The protocol has no cap on supply, so supply growth is perpetual, even if the inflation rate shrinks over time.

With fundamentals this thin, price action has long hinged on celebrity shout-outs and macro phenomena that dictate liquidity conditions in the crypto sector. Elon Musk’s social media posts have, in the past, served as prime catalysts for sudden spikes and slides in the coin’s value. That isn’t something serious investors look for when they’re evaluating an asset’s merits, because it’s actually a risk.

Separately, the coin has no formal road map, and no major functionality upgrades are in progress. It’s a meme coin, not a living project that could offer real utility someday.

So what does it take to parlay a $10,000 stake in this coin into $1 million? Per the math, a neat 100-fold move would do the trick. That would lift its market cap to roughly $2.5 trillion, which is to say, greater than Bitcoin‘s entire float.

That leap also implies mass adoption, a killer utility use, or a meme craze bigger than any in internet history, enabled by multiple firehoses of supporting liquidity from central bankers around the world.

None of those things look at all likely.

This coin won’t make anyone into a millionaire again.

XRP has real utility, but it’s still a long shot here

XRP’s market cap sits north of $133 billion, at about $2.26 per coin. Demand for the coin stems from more than silly pictures of dogs.

First, the development cadence of its chain is brisk.

On June 30, Ripple, the company that develops XRP, pushed its long-awaited Ethereum Virtual Machine (EVM) sidechain to the mainnet, letting smart contracts written in the same language as what’s used for Ethereum run on the XRP ledger (XRPL) for a fraction of typical gas costs. That opens the door to onboarding thousands of existing decentralized applications (dApps) and app developers to XRP, and it is very probable it’ll be stealing them from the Ethereum ecosystem, perhaps permanently.

Second, Ripple is spending to widen XRPL’s moat.

The April acquisition of prime broker Hidden Road for more than $1.2 billion gives institutional investors an on-ramp for lending, cross-margining their capital, and transaction settlement that operates directly on the ledger. And Ripple’s road map includes building more compliance tooling aimed squarely at enticing banks and asset managers to store their capital on its chain.

These moves won’t send the coin to the moon overnight, but they do give XRP multiple levers in the form of transaction fees, stablecoin issuance, and custody tooling to capture a large amount of value as the finance sector moves to using blockchains as its plumbing. If XRP nabs even a sliver of the trillions in real-world assets (RWAs) forecast to migrate to on-chain management this decade, the upside will be enormous for investors who build up a position now.

But could XRP 100x, given its rosy setup today?

A jump to roughly $220 per coin would take its cap to about $13 trillion. That’s still massive, and therefore very improbable in the near term.

But, unlike Dogecoin, XRP has plausible growth drivers in the form of enterprise adoption and a living road map. Don’t confuse its better odds of making investors richer with good odds for it making anyone into a millionaire.

For investors, that translates to moderation. Buy and hold XRP if you’re interested in getting some exposure to its considerable upside, but keep your expectations in check, and don’t over-invest, especially not if your portfolio isn’t sufficiently diversified first.