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Can Dogecoin Reach $1?

TheMotleyFool

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Apart from the rough start to 2022, cryptocurrencies have been a fantastic asset class to own in recent years. The entire market's valuation went from about $18.5 billion in February 2017 to a whopping $2 trillion today. This performance trumps that of the S&P 500.

And within the world of digital assets, dog-inspired Dogecoin (CRYPTO: DOGE) has become popular among retail traders. It is now the 11th-most-valuable cryptocurrency in the world, with a market cap of about $20 billion. DOGE, the native token, has returned an astronomical 72,000% over the past five years. This is all while its price has crashed 77% during the last nine months.

Can Dogecoin get back to its winning ways and one day hit $1? Let's take a closer look.

Source Fool.com

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