Can Dogecoin Reach $1?

Dogecoin has been on a roller coaster ride over the past few months, losing value repeatedly as the global crypto market cap fell, tanking Bitcoin and Ethereum at the same time. Meanwhile, knockoffs of both Dogecoin and Shiba Inu have been stealing market share from the original puppy tokens. It’s also interesting to note that Dogecoin co-creator Billy Markus has been on a Twitter ($TWTR@US) crusade to prevent investors from taking meme coins like Dogecoin too seriously. At times, Dogecoin is among the most mentioned tokens on Twitter, but at other times, it has almost no buzz at all. In short, the Dogecoin army might consist of Tesla ($TSLA@US) CEO Elon Musk, and a few others, while other cryptocurrencies have packs of devotees that are willing to invest every day. Finally, a poll conducted by Benzinga showed that over 60% of respondents thought Dogecoin could reach $1 by 2023. At press time, Dogecoin was down over 4%, sitting at 16.32 cents on higher volume and a slumping market cap.