Dogecoin, the original memecoin, has come a long way in the decade since its launch. According to CoinGecko statistics, Dogecoin has risen about 141,000% since its low point in 2015. But that hasn’t stopped Dogecoin fans and investors from chasing higher prices, especially the $1 mark.

DOGE’s gains to $1 will not be easy. To reach $1, it will need to rise by about 733% from current levels. Let’s look at three things that can help DOGE reach its $1 goal.

Three Factors That Could Push Dogecoin to $1

Accept X payments:

Elon Musk is not only one of the richest people in the world, he is also one of the biggest supporters of DOGE. Musk’s Tesla electric car company already accepts DOGE as a form of payment for its goods. Musk also said that the company may enable DOGE payments for its cars in the future.

Musk’s X social media platform is about to launch a payment feature. Many people hope that memecoin will also be part of this feature. If X enables dogecoin payments, it could lead to a significant price increase.

More adoption:

Adoption is key to increasing prices. If Musk’s X platform supports DOGE payments, more people may start using the original memecoin as a form of exchange. This will greatly help the price of the asset break through its boundaries.

As the first memecoin, DOGE already has a first-mover advantage. Millions of people around the world are already familiar with the asset’s logo, making it easy to promote the project.

Market Sentiment/Bull Market:

Positive market conditions will also help Dogecoin reach new peaks. If we enter another bull run, like we saw in 2021, we may see Dogecoin hit new all-time highs.