In the ten years since its launch, Dogecoin – the original meme coin – has made significant progress. According to statistics from CoinGecko, DOGE has grown by about 141,000% since its lowest point in 2015. This has not stopped DOGE fans and investors from pursuing higher prices, especially the $1 milestone.
For DOGE, the journey to $1 is not easy. Reaching $1 would require a 733% increase from the current level. Let’s take a look at three things that can help DOGE achieve the $1 target.
Acceptance for Payments:
Elon Musk is not only one of the richest people in the world, but also one of the biggest supporters of DOGE. Musk’s Tesla electric car company has already started accepting DOGE as payment for its products. Musk has also stated that the company may enable DOGE payments for their cars in the future.
Musk’s X social media platform is also set to launch a payment feature soon. Many hope that meme coins will also be part of this feature. If X enables Dogecoin payments, it could lead to a significant price increase.
Increased Adoption:
Adoption is key to driving up the price. If Musk’s X platform can enable DOGE payments, then more people might start using the original meme coin as a form of exchange. This would greatly help the asset break through its boundaries.
Market Sentiment/Bull Market:
A positive market environment will also help Dogecoin reach new highs. If we enter another bull market, like in 2021, we might see DOGE hit historic highs.
