Can Dogecoin Reach $1?
Despite the critics' barbs, canine-themed token Dogecoin (CRYPTO: DOGE) has come a long way over the past couple of years. Once a joke token, Dogecoin is now among the most popular digital assets, with a market capitalization in the billions of dollars.
Yet the always-enticing $1 threshold remains elusive. Sure, the recent broad-based cryptocurrency bear market could be partially to blame. After all, like in the world of stocks, a strong inter-asset correlation means that a falling crypto tide will sink all (or at least most) boats.
Nonetheless, the dream of Dogecoin clearing the $1 bar makes the token enticing for crypto-market speculators of all stripes. However, while Dogecoin has at least one famous fan/fanatic, the burden of proof still rests squarely on the bulls' shoulders, as reputational issues are tough to shake.
Source Fool.com
