Meme coins are one of the market’s biggest gainers following the recent bull run. Top meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF), and Pepe (PEPE) have experienced new highs. However, DOGE remains the largest meme coin by market cap. The Dogecoin price has surged by almost 170% in the past month, causing optimistic predictions of it reaching $1.
Some experts believe the recent bullish trend will drive the DOGE price to $1 for the first time if it can sustain the market momentum. However, $1 seems out of this world, considering the current Dogecoin price is around $0.47. In other news, the Rollblock presale has raised over $5.6 million, and the utility token is attracting investors. Let’s find out more.
Dogecoin soars after Elon Musk’s DOGE appointment
A couple of days after his election as the 47th US President, Donald Trump announced the appointment of Elon Musk as a co-lead for his administration’s Department of Government Efficiency (DOGE). Considering Musk’s social status in the crypto market and affiliation with Dogecoin, the market quickly reacted to the news.
The bullish reaction has caused the DOGE price to increase by nearly 240% in the past month, reaching $0.47. The strong trend highlights investors’ optimism amid predictions that Dogecoin could reach $1 and become one of the top five cryptocurrencies by market cap. However, considering its meme coin status, the likelihood of DOGE reaching $1 seems bleak.
