In 2021, Dogecoin (DOGE) created one of the most impressive bull run stories in the history of cryptocurrencies, rising more than +12,000% from the beginning of the year to its all-time high of $0.738 in May. At the time, many investors were eagerly asking themselves whether Dogecoin would reach $1. While DOGE failed to reach the $1 price level in 2021, it looks like there is a good chance that the crypto community’s favorite meme coin will rise again in 2024 or early 2025.

The history of meme coins began with Dogecoin. When cryptocurrencies were just entering the public eye, Billy Marcus and Jackson Palmer decided to create a token that imitated Bitcoin (BTC) to show that cryptocurrencies didn’t have to be taken too seriously. Dogecoin was created as a joke in December 2013 and has since grown to become one of the top ten cryptocurrencies in the world with a market cap of $75 billion. Dogecoin has also become the inspiration for thousands of other meme coins.

Key Highlights:

$1 is a realistic price target for Dogecoin.

DOGE came close to reaching this price level in 2021, when the coin peaked at $0.73

Dogecoin’s biggest trump card is billionaire entrepreneur Elon Musk, who has said that Dogecoin is his favorite cryptocurrency.

Musk is one of the most prominent supporters of US President-elect Donald Trump, and DOGE saw significant positive momentum after Trump won the election in November 2024.

If the positive momentum in the cryptocurrency market continues, we will likely see DOGE reach $1 in this bull run. #doge⚡ $