The price of the original meme cryptocurrency Dogecoin (DOGE) has been struggling. Despite high-profile support from the bulls, DOGE has failed to rally and reach the coveted $1 mark.

At press time, the meme coin is trading at $0.09531. DOGE has lost 4.26% in the past 24 hours. This means that the asset is close to the 1,000% milestone against the USD.

Elon Musk’s latest tweet has restored confidence in the market. The SpaceX CEO revealed that DOGE may be used to exchange Tesla-related goods.

The price of DOGE has not reacted strongly to this. Once Tesla adds Dogecoin, the price of the asset may rise significantly. But the real question is whether this will be enough to push the OG meme token to $1.

When will DOGE reach the $1 mark?

Reaching $1 is a tall order for DOGE. About three years ago, the asset hit an all-time high of $0.7376. This was the closest DOGE ever came to its USD milestone. Currently, the meme token is still 87% below that peak. Looking back at this data, $1 seems almost impossible.

But it is worth noting that Dogecoin is currently up more than 111115.16% from its low of $0.00008547. Over the past year, Dogecoin has risen by 50%.

Changelly’s data shows that DOGE will surge to $1 in 2029, especially in November 2029. However, if Musk brings DOGE back to the Tesla space, the asset could reach this level sooner than expected.

Additionally, endorsements from other influential figures, increased adoption, and an overall market rally could boost the value of the OG meme cryptocurrency. But lack of utility could be a major issue facing the network. Certain merchants have been accepting the asset for payments. But when it comes to real-world use cases, DOGE has definitely been marginalized.