Dogecoin (DOGE) Can 'Run' to $1, Top Trader Predicts

Cover Image via U.Today

DonAlt, a pseudonymous cryptocurrency trader with over 500,000 followers on a social media platform, predicts that Dogecoin (DOGE) has the potential to reach $1 if the broader cryptocurrency market remains bullish.

As an O.G. meme cryptocurrency, Dogecoin has consistently ranked in the top 10 since its debut in 2013. Currently valued at a substantial $20.3 billion, it surpasses the market cap of Japanese steelmaker Nippon Steel and car company Suzuki Motors.

Over the past 24 hours, DOGE has surged by nearly 15%, outshining other top 10 altcoins. Traded at $0.13 on Binance, it has gained an impressive 25% in just one week.

However, despite its recent rally, DOGE remains 81% below its all-time high of $0.73 reached in May 2021. At that time, it briefly ranked as the fourth-largest cryptocurrency by market capitalization.

According to IntoTheBlock, a cryptocurrency analytics platform, only 12% of Dogecoin holders are currently experiencing losses.

DonAlt believes that Dogecoin is poised for another surge and that the $1 mark is a realistic goal during this market cycle. He highlights the cryptocurrency's widespread recognition among the general public as its primary advantage over competitors.

"If you truly want to kick this cycle into high gear while attracting new investors, you gotta pump something high-profile they've heard of before. Memes have been meta and DOGE is the crypto meme people know," DonAlt tweeted recently.