The OG meme cryptocurrency Dogecoin (DOGE) has been battling its worth. Regardless of the a number of high-profile endorsements, DOGE did not rally and meet the coveted $1 mark.
At press time, the meme coin was buying and selling at $0.09531. DOGE was seen dropping by 4.26% over the previous 24 hours. Which means the asset is near 1000% beneath the greenback milestone.
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Investor confidence was restored available in the market after Elon Musk’s newest tweet. The CEO of SpaceX revealed that DOGE could also be accepted in alternate for Tesla-related merchandise.
The worth of DOGE didn’t react strongly to this. As soon as Tesla provides Dogecoin, the asset might witness a serious worth improve. However the true query is that if will probably be sufficient to drive the OG meme coin to $1.
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When Will DOGE Attain the $1 Mark?
Reaching $1 has been a job for DOGE. About three years in the past, the asset hit an all-time excessive of $0.7376. This was the closest that DOGE has gotten to its greenback milestone. At current, the meme coin stays 87% beneath this peak. Trying again at this knowledge, $1 appears to be practically unattainable.
However it ought to be famous that Dogecoin is greater than 111115.16% larger than its low of $0.00008547. All through the previous yr, the meme coin rose by 50%.
Knowledge from Changelly means that DOGE will surge to $1 solely in 2029, significantly in November 2029. Nevertheless, if Musk brings DOGE again into the Tesla realm, the asset might attain this mark prior to anticipated.
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As well as, endorsements from different influential figures, elevated adoption, and an total market rise might enhance the worth of the OG meme cryptocurrency. However the lack of utility might be a serious downside for the community. Sure retailers have been accepting the asset for funds. However DOGE is actually sidelined in terms of real-life use circumstances.