At a current market cap of $2.3 trillion, the cryptocurrency market is back in style. Thanks to the surging price of Bitcoin (CRYPTO: BTC), the world's most valuable digital asset, investors might be eyeing other tokens in the hopes that they can soar.
Perhaps there's no other cryptocurrency that exemplifies the meme-stock craze from 2021 better than Dogecoin (CRYPTO: DOGE). This speculative token skyrocketed in value during a raging bull market, but as of Feb. 28, it sits 86% below its peak price.
Can Dogecoin bounce back and rise 760% to one day reach $1? Let's take a closer look to figure out the chances this token can make a new all-time record.
Source Fool.com