Dogecoin originally started as a joke, with no real use. Although this token still has no utility and represents a joke, it has evolved into a massive crypto project with millions of fans around the world.
The price of Dogecoin has risen to a historic high of over $0.6, which is quite impressive given its origins and utility. For years, Dogecoin holders have been wondering whether this token will reach the elusive $1 mark. Will it reach this price level? Or will new altcoins like Rollblock reach this price level first?
Positive news about Dogecoin suggests a brighter future for Dogecoin.
Over the years, Dogecoin has attracted a number of loyal fans. One notable supporter is Elon Musk, who frequently talks about Dogecoin on Twitter and even suggested using Dogecoin as a payment method at his company.
Even the Dogecoin news from the Financial Times is addressing the question of the possibility of Dogecoin becoming a currency in the U.S. What would happen if Donald Trump fired Federal Reserve Chairman Jay Powell and made this suggestion a reality?
Essentially, Dogecoin currently has a lot of goodwill. This is why some people are shouting that it might reach the milestone of $1. If this happens, it would bring substantial profits to Dogecoin holders.
The bottom line
Only speculation can push Dogecoin above $1, which is a flaw in itself. When the hype gradually fades or market sentiment declines, Dogecoin will drop. This is why Dogecoin has depreciated by over 20% in the past month after a downturn in cryptocurrency market sentiment.
