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Can Dogecoin Reach $1?

TheMotleyFool

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This year has been a positive one for the overall cryptocurrency market. The industry's value, now at about $2.2 trillion, has climbed 29% since the start of 2024. However, that favorable backdrop hasn't benefited all digital assets like you might imagine.

Just look at Dogecoin (CRYPTO: DOGE). It's up an unremarkable 20% on the year, underperforming the market. As of this writing, this speculative cryptocurrency trades at about 85% off its all-time high, a milestone that was achieved in May 2021.

But the bulls have their sights on a lofty target. Can Dogecoin soar roughly nine-fold to reach $1 one day?

Source Fool.com

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