Can DOGE rise to 1 dollar? You'll understand after reading this article!
How to know if DOGE can quickly break through 1 dollar, let’s analyze:
Current market situation
DOGE is currently selling for about 0.32 dollars each, with a total of 14.73 billion coins in circulation. This adds up to a market value of approximately 9.8 billion dollars.
What happens if DOGE rises to 1 dollar
If DOGE wants to rise to 1 dollar, its market value would need to be 140 billion dollars. That's no small amount, it would surpass BNB and XRP, becoming the third in the cryptocurrency space.
Why DOGE can rise
First of all, DOGE has a particularly large fan base, including many KOLs and big players cheering for it. This makes everyone quite interested in it. Secondly, if DOGE can be used more for purchases, such as Tesla accepting it, or more platforms using it, people will want it even more. Finally, if the market is as hot as it was from the end of 2020 to the beginning of 2021, then the price could soar.
The outcome of this year's U.S. presidential election seems to play a key role in changing the fate of meme coins, with the upcoming pro-cryptocurrency government under Trump indicating a significant shift in regulatory attitude. Musk's continued support for DOGE remains a strong emotional driving force. Technical analysis confirms a bullish trend, with key indicators like the "golden cross" showing significant upward potential. Analyst Mikybull compared the current pattern with previous bull market cycles of Dogecoin, during which the token achieved nearly a 7,000% increase. Similarly, well-known crypto trader Javon Marks holds a similar view, predicting that if this momentum continues, DOGE could rise to 3 dollars or more.
Just a few days ago, a whale bought 90 million dollars worth of DOGE in forty-eight hours.
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