đŹ Here Are The Factors That Could Drive The $DOGE Price To $1 This Bull Market
đž Key Drivers To Send The Dogecoin Price To $1
A recent post on TradingView discusses the potential for the Dogecoin price to soon hit the coveted $1 milestone. Presenting compelling factors, the report suggests that Dogecoin could see its price surging to $1 with the influence of SpaceX and Tesla CEO Elon Musk.
To put it more clearly, TradingView has revealed that Muskâs steadfast support and devotion to DOGE could allow the meme coin to steadily grow to a $130 billion market capitalization, representing a $1 price surge. In addition, Dogecoinâs increasing popularity in the financial space is also set to catalyze a potential price surge.
Currently, Dogecoin is one of the most talked-about meme coins in the market, as the cryptocurrency has among the top gainers in this bull market. With more users and investors flooding into the DOGE ecosystem, demand and adoption are poised to rise, potentially triggering a major price spike.
According to CoinMarketCap, the Dogecoin price has increased by a staggering 250% in just one month. This massive price surge saw the meme coin jump from around the $0.2 price level to new highs around $0.4.
During its report, TradingView also revealed that the Dogecoin price is currently outperforming Bitcoin by 150%. As mentioned earlier, Dogecoin has been on a parabolic run recently, jumping 110% in just one week while still accumulating gains as of writing. TradingViewâs report revealed that following Trumpâs Presidential win in the concluded US election, the Dogecoin price rallied 180%.
This massive price surge outperformed Bitcoin, which grew only 30% within the same period. While Bitcoinâs price is significantly larger than DOGE and has successfully achieved a new ATH, DOGE, with a lower price of around $0.4, is viewed as a more accessible and profitable option for smaller investors.