Recently, the market performance of Dogecoin ($DOGE ) has been indeed very eye-catching. The price has continued to rise and is close to the important psychological mark of 1 US dollar. Don Alt, an influential figure in the cryptocurrency field, even said that if the current market trend continues, Dogecoin is likely to reach the price level of $1, which triggered extensive discussions among investors about the future price of Dogecoin.

Dogecoin’s price growth has been so strong that it has even outperformed some mainstream altcoins. Currently, the price of Dogecoin has soared to $0.13, showing a clear upward trend and seems to be heading towards the $1 target.

As a well-known supporter of Dogecoin, Elon Musk has a significant influence on the cryptocurrency’s price. Recently, when Musk mentioned Dogecoin at a Trump rally, the reaction was enthusiastic. He also criticized the current government's fiscal waste, saying it was an irresponsible use of taxpayers' funds. Musk’s active presence in politics, including donating $75 million to a pro-Trump political action committee, further demonstrates his support for Dogecoin.

Numerous bullish voices and support have provided impetus for the price increase of Dogecoin, and some analysts have begun to boldly predict the future price trend of Dogecoin. For example, CoinGape analysis agency predicts that based on historical price trends, the price of Dogecoin may reach $1 by May 2025.

Currently, the price of Dogecoin is $0.1386, which has increased by 24.80% in the past week, and its market value has also increased by 13%, reaching $20 billion. In terms of trading volume, Dogecoin’s 24-hour trading volume surged 84% to $2.5 billion, showing the market’s strong interest and active trading in Dogecoin.