Could Dogecoin Reach $1?
Remember the good old days of 2021? Crypto investors enjoyed all-time highs as the entire asset class hit a peak value of more than $2.8 trillion, and just about every cryptocurrency reached a new record.
Yet arguably the most talked-about cryptocurrency to come out of the 2021 market was Dogecoin (CRYPTO: DOGE). The now-popular meme coin started 2021 trading for less than a penny, yet by May, it skyrocketed to a price of nearly $0.70. It was able to reach those heights thanks in large part to a huge push from retail investors that drove up its price.
The movement gathered so much momentum that the richest man in the world, Elon Musk, started to take notice. Musk often took to Twitter to promote the meme coin. His tweets varied from topics disclosing that he was working with Dogecoin developers "to improve system transaction efficiency" to even announcing that his electric vehicle company, Tesla, would be accepting Dogecoin as a form of payment for merchandise. Thanks to his efforts, Dogecoin continued to soar and reached its pinnacle when Musk hosted Saturday Night Live and referred to himself as the Dogefather.
Source Fool.com
