Can DOGE reach $1?

Can DOGE reach $1?
In 2021, the price of Doge Coin has grown more than 72 times and continues to set new all-time highs. With Elon Musk punting the coin on social media and mass adoption, this is definitely the year for Doge! But is there more to Doge than Elon Musk and will it be enough to see Doge reach $1?

What is Doge Coin?

Doge Coin (DOGE) was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer in December 2013. The aim of the project is to serve as a peer-to-peer digital currency that could reach a broader demographic.

DOGE is known for the Japanese Shiba Inu dog mascot that is a very popular internet meme. The coin can be used to tip users and content creators on platforms like Twitter and Reddit and many merchants accept DOGE Tokens as payment for goods and services.

What is driving the price of Doge Coin?

DOGE is already up by more than 10 000% on last year. So, what is driving the price, or who?

Besides the fact that the crypto market is currently in a bull market, one person seems to be the biggest DOGE supporter – Elon Musk. The SpaceX chief and South African billionaire often tweets about DOGE and has even bought some coins for his son. Musk is a big driving force behind DOGE’s epic rally this year.

Following in Musk’s footsteps is rapper Snoop Dogg who recently joined the Doge family. The price of DOGE soared more than 55% after Snoop posted a meme of the Shiba Inu on social media.

Furthermore, DOGE has seen an increase in mainstream adoption with the Oakland Athletics baseball team being the latest to accept the crypto. The team announced it would be selling tickets for 100 units of the meme cryptocurrency. This is a first for Major League Baseball! #DogecoinToTheMoon

Can Doge Coin reach $1?

Many hodlers and analysts in the crypto industry believe that DOGE has the potential to hit $1 before the end of the year. Thus far, their efforts to advocate the coin have been fruitful as the coin keeps hitting record-high prices. At the time of writing, the price of DOGE was under $0.50 and a new all-time high is expected soon. With a market cap of more than $62.01 billion, DOGE is more valuable than Honda and even Twitter.

DOGE may reach $1 by the end of this bull cycle due to generation Z’s growing interest in the project. DOGE is very popular amongst generation Z, aka the zoomers as they claim it is a ‘fun’ coin. Let’s be honest, who doesn’t like a cartoon/meme where a dog sits in a rocket and goes to the moon? It is said that generation Z prefers to have fun whilst watching their money grow.

Regardless if you are part of generation X, Y or Z, anyone can invest in DOGE on AltCoinTrader. All you have to do is open an account on South Africa’s favourite cryptocurrency, deposit funds and trade DOGE. Such wow!