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Can Dogecoin Reach $1?

TheMotleyFool

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Although Dogecoin (CRYPTO: DOGE) was created as a joke in 2013, with the intention to be a fun competitor to the top cryptocurrency, Bitcoin (CRYPTO: BTC), little did the developers know that this meme coin would absolutely surge in popularity.

Dogecoin skyrocketed almost 12,000% from the start of 2021 up until the beginning of May, when it hit an all-time high of $0.74. It has fallen precipitously since, as the Reddit-fueled meme-stock craze cooled down.

Can Dogecoin, valued at more than $19 billion and now the world's 12th-most valuable cryptocurrency (as of Jan. 10), eventually hit $1 per token? Let's take a closer look.

Source Fool.com

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