In the ten years since its launch, Dogecoin—the original memecoin—has progressed significantly. Since its lowest point in 2015, DOGE has increased by about 141,000%, based on statistics from CoinGecko. This has not stopped DOGE fans and investors from pursuing higher prices, especially the $1 mark.
The journey to $1 will not be easy for DOGE. Reaching $1 would require a rally of about 733% from current levels. Let us look at three things that can help DOGE achieve the $1 target.
Top 3 things that can take Dogecoin to $1
Accepted on X payments:
Elon Musk is not only one of the richest people in the world, he is also one of the biggest DOGE supporters. Musk’s Tesla electric vehicle company already accepts DOGE as payment for its merchandise. Musk has also said that the company may enable DOGE payments for their cars in the future.
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Musk’s X social media platform will roll out a payment feature soon. Many people are hopeful that the memecoin will also be a part of this feature. If X enables Dogecoin payments, it may lead to a massive price surge.
More adoption:
Adoption is key for higher prices. If Musk’s X platform enables DOGE payments, a lot more people may begin using the original memecoin as a form of exchange. This will significantly help the asset’s price to push its boundaries.
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By being the first memecoin, DOGE already has the advantage of being early. Millions around the world are already familiar with the asset’s logo, making it an easy sell for the project.
Market sentiment/Bull run:
A positive market environment will also help Dogecoin reach new peaks. If we enter another bull run, like that of 2021, we may witness DOGE hitting a new all-time high.
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